Some of these cryptocurrencies look ready to resume their rallies.
Check out these potential upside targets on the long-term charts!
Bitcoin still appears to be in correction mode, with price now dipping to the 50% Fibonacci retracement level on its daily time frame.Buyers are defending this support area, but it seems that BTC could use more bounce. A larger pullback to the 61.8% Fib that’s closer to the long-term ascending trend line might be able to gather more buying energy.
Better watch out for a move back to the swing high and beyond if the bulls start to charge again!
Ether looks prime for a bounce, as the price is finding support at a long-term area of interest. This is right smack on the rising trend line, former resistance, and the $1,400 mark!
Technical indicators are hinting that the uptrend is more likely to resume than reverse. The 100 SMA is above the 200 SMA which implies a bullish trend for ether and confirms that the path of least resistance is to the upside.
Is ETHUSD oversold?
Stochastic appears to be turning higher as well.
A continuation of the rally could take ETH up to the 61.8% Fib extension that’s close to the swing high at $1,800 or all the way up to the full extension around $2,250.
Litecoin also looks ready to resume its climb as the price is sitting right on the long-term rising trend line that coincides with resistance-turned-support.In that case, LTC could first test the 38.2% Fib extension at $202 then make its way up to the 50% extension around $217.
Stronger bullish momentum could spur a test of the 61.8% Fib that lines up with the swing high or sustain a move all the way up to the full extension at $281.
Is LTCUSD oversold? According to Stochastic, it just reached the oversold region to signal exhaustion among sellers, and turning higher could confirm that buyers are taking over.
If this is your first time checking out crypto charts, keep in mind that there is a considerable amount of risk in trading cryptocurrencies due to their inherent volatility and sensitivity to headlines. Be careful out there!