Litecoin Price Technical Analysis (September 10): Facing Strong Resistance at $72

Litecoin Price Technical Analysis (September 10): Facing Strong Resistance at $72

Analysis Litecoin (LTC)trade is currently trading at $71.12. The digital coin is facing resistance at $72.09 and support at $69. LTC price is expected is to trade between the channel and long position should not be taken at this price. It is suggested to wait until the price reaches the support, or breaks the resistance. Dow Theory The accumulation phase usually starts when informed investors (experienced traders and institutions) are beginning to enter their positions….

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Ethereum Price Technical Analysis: Getting Closer Down to the $170 Support Level

Ethereum Price Technical Analysis: Getting Closer Down to the $170 Support Level

Analysis Ethereum (ETH)trade is currently trading at $172.50. As you can see in the graph below, the ETH price is trading between the channels. The next resistance level is at $182 and support level is at $170. Long positions can be taken around the first support level, keeping the it as a stoploss. The cryptocurrency price is expected to trade between the channels for two cycles, and this can be used for swing trading. Dow…

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Bitcoin Price Technical Analysis (September 3): Eyeing $11,000

Bitcoin Price Technical Analysis (September 3): Eyeing $11,000

Analysis Bitcoin(BTC)trade is currently is trading at $10,423. Looking at the chart we see that the price has recently broken the resistance of $10,323. Long position can be taken, keeping $10,323 as support with a target price at $10,700. Swing trading can be done between the channels formed by the resistance and support. Dow Theory According to Dow Theory, the Bitcoin price is in the excess phase, which is an extension to the public participation…

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EOS Technical Analysis (August 27): A Bullish Momentum

EOS Technical Analysis (August 27): A Bullish Momentum

EOS (EOS)trade is currently trading at $0.28194. Although the cryptocurrency’s price is in a uptrend, when considering the past price’s key points, it can be seen it is currently trading around its resistance. The resistance is also marked by formation of shooting star pattern. The resistance is at $0.2853 and support is at $0.2767. The digital coin’s price is expected to trade between the channel formed by the resistance and support levels until the price…

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Ripple Price Technical Analysis (August 19): Still Bullish But Hesitant

Ripple Price Technical Analysis (August 19): Still Bullish But Hesitant

Ripple (XRP)trade is currently trading at $0.2840. Recently, the digital coin’s price has broken the resistance of $0.28, turning it into support. The next resistance levl is at $0.2921. The XRP price might start moving between the channels and the above levels can be used for swing trading. Dow Theory According to Dow Theory, the virtual coin is currently appearing in the accumulation phase, which is an area from where the price shoots up, and…

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Bitcoin Price Technical Analysis (August 15): Negative Sentiment Currently Prevails

Bitcoin Price Technical Analysis (August 15): Negative Sentiment Currently Prevails

Bitcoin(BTC)trade is currently is trading at $10,050. Looking at the chart below we can see a steep fall of around 12% without any green candle. $10,201 is currently acting as resistance with support at $9,678. It is very likely that the Bitcoin price will touch the support level so it is suggested not to take any fresh long position until the price breaks the resistance of $10,201. The virtual coin may get stuck between the…

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Litecoin Price Technical Analysis (August 13): No Clear Direction Yet

Litecoin Price Technical Analysis (August 13): No Clear Direction Yet

Litecoin (LTC)trade is currently trading at $85.61. In the graph below it can be seen that the digital coin was trading between the channels but recently it has broken the lower limit of the channel, indicating a further correction. The channel’s lower limit is at $87.55, and is acting as resistance with support at $82.80. Dow Theory According to Dow Theory, the virtual coin is currently appearing in the accumulation phase after the panic phase….

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Bitcoin Price Technical Analysis (August 8): Indecisive Ascent

Bitcoin Price Technical Analysis (August 8): Indecisive Ascent

Bitcoin(BTC)trade is currently is trading at $11,713. When looking at the chart we can see a clear uptrend, with the trend line acting as support. Also, when looking at the bigger picture it can be seen that the price is moving from an upwards to a sideways movement. The resistance level is at $12,123 with support at $11,673. As long as the Bitcoin price is above $11,850 the trend is bullish, and if it would…

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Ripple Price Technical Analysis (August 5): Facing a Lot of Resistance

Ripple Price Technical Analysis (August 5): Facing a Lot of Resistance

Ripple (XRP)trade is currently trading at $0.3276. When looking at the chart below, we can see that the XRP price has recently broken the resistance level of $0.3232, turning it into support. The next resistance level is at $0.3323. Although when looking at the bigger picture the price is in a sideways trend, an uptrend will start only after the price closes above $0.350. Taking long position is not suggested at this stage. Dow Theory…

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Ethereum Price Technical Analysis (August 1): Narrow Movement and Indecision

Ethereum Price Technical Analysis (August 1): Narrow Movement and Indecision

Ethereum (ETH)trade is currently trading at $214.43. The digital coin is trading between the support and resistance levels with an upper limit at $222 acting as resistance and a lower limit of $206 acting as support. Overall, the price is in a sideways trend, very similar to that of Bitcoin(BTC)trade. Dow Theory According to Dow Theory, the virtual coin is currently appearing in the accumulation phase; during this phase, negative sentiment starts to dissipate. This…

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