Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) Price Analysis and Forecast

2019-5-31 00:17

BITCOIN (BTC-USD)

In the last 24hrs Bitcoin has exhibited a bullish outlook which is as a result of a bullish regular divergence pattern that was signaled simultaneously.

Despite a sideways trend that has been supported by the 7-day MA and the 21 day MA which are intertwining, an upward price rally is observed. BTC /USD pair began trading on 29 May 08:00 at $8629.5 (A) against the current price of $8644.0.

This was later followed by a breakout and since buyers were in control they shifted the price action further up to close at $8760.7. The significance level was, therefore, stood at; resistance level $8741.3 and support level at $8673.7. Later on, from B to C a bearish accumulation was encountered due to high selling pressure that led to decline price performances that further dip to a low of $8585.0 (C).

At around 30th May 03:00, presence of a bullish marubozu candle is encountered that reflected a strong buying pressure from traders thus leading to an upward price rally to the current price of $8644.0

FORECAST

The RSI is trading below the north angle in the last few hours, this shows the possibility of a price correction. The 7-day MA is moving beneath the 21-day MA during the last hour, thus indicates a further decline. New target should be set at $8451.

ETHEREUM (ETH-USD)

A bullish market rally is in the last 24hrs where ETH began the day trading at $268.84 (A).

This was later followed by a period of consolidation from (A to B), that reflected luck of market momentum.

Neither the bulls nor the bears had the upper hand at that period of time thus resulting in a sideways price movement. Resistance level was placed at $272.88 and support level at $269.98, the significance level was tested severally.

At around 30th May 03:00 buyers took over control leading to strong buying pressure thus pushing the price up to a high of $286.97 (C). The RSI X is seen above level 70 indicating overbought market. Later on, a sideways price rally is seen that led to the current price of $269.50.

FORECAST

The RSI is heading south during the last hour confirming a decline price rally in the next few hours. The uptrend is likely to be sustained since the 7 day MA is still above the 21-day MA. New support should, therefore, stand at $260.70.

LITECOIN (LTC-USD)

A ranging market is observed and buttressed by a horizontal channel on an hourly chart. The RSI is seen most of the time above 50 thus reflecting buying pressure from traders. LTCUSD pair began trading at $114.629 (A).  A break out later followed, where traders shifted up the price rally past support level $114.679 (S) to reach a high of $118.350 (B), resistance level was, therefore, stood at $117.755 (R).

At around 29th May 20:00 a break out was encountered with a bearish accumulation pattern that dips the price momentum to a low of $114.230 (D).

A bullish engulfing candle was later on encountered, promoting rising of price momentum to a high of $118.280.

LTC current price is $111 hence is down by 4.30%; the recent price rally may be due to the recent update of litecoin protocol, that promoted transaction to be as low as half a cent.

FORECAST

A bullish signal is likely to be seen since the 7 day MA is still above the 21-day MA. The RSI indicator is also heading north during the last hour reflecting an upward price momentum. New support target should be placed at $105 and a stop-loss slightly below the target for security in case of a breakdown.

The post Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) Price Analysis and Forecast appeared first on ZyCrypto.

origin »

Bitcoin (BTC) на Currencies.ru

$ 83156.24 (+0.23%)
Объем 24H $29.072b
Изменеия 24h: 0.44 %, 7d: -6.75 %
Cегодня L: $80441.76 - H: $83156.24
Капитализация $1649.55b Rank 1
Цена в час новости $ 8505.56 (877.67%)

bitcoin btc price bullish forecast ltc analysis

bitcoin btc → Результатов: 126


Фото:

El Salvador Buys The Dip Scooping Up 5 BTC — Despite IMF Pressure To Back Off Bitcoin

El Salvador bought a further 5 BTC for its national reserve, worth roughly $415,000, as the top crypto nosedived to sub-$83,000 on Monday, reversing Sunday’s price rally to $95,000. Continuing A Bitcoin Purchase Streak According to the El Salvador National Bitcoin Office, the Central American nation purchased 5 BTC, which is four more than its […]

2025-3-5 21:15


Bitcoin Market Dominance Faces a Challenge as This AI Altcoin is Set for 22,000% Gains

Many were left stunned after seeing Bitcoin (BTC) achieve milestone upon milestone but witnessing altcoins like Ethereum (ETH), Ripple (XRP), and Cardano (ADA) fail to pump by a meaningful amount. Now, after three straight months of Bitcoin (BTC) dominance, it seems the altcoin market is ready to push back with a major inflow of investments [...]

2025-2-12 02:00


MicroStrategy Strikes Again: $100 Million Bitcoin Purchase Signals Strong Market Confidence

MicroStrategy, the major enterprise software company that has evolved into a Bitcoin (BTC) investment platform, has captured attention once again with its latest purchase of $101 million in BTC. The company, led by chairman and co-founder Michael Saylor, has committed to utilizing perpetual preferred stock, common shares, and debt to fuel its ongoing Bitcoin purchasing strategy.

2025-1-7 06:00


Фото:

El Salvador now holds 6,000 BTC: can Bitcoin success story sustain?

El Salvador, the pioneering nation that made Bitcoin legal tender in 2021, has surpassed 6,000 BTC in its treasury, valued at $561.3 million as of the latest update. This milestone represents not only a strategic accumulation effort but also a bold economic experiment under President Nayib Bukele’s leadership. With a 105% unrealised return on its […]

2024-12-30 09:51