Most altcoins still seem to be stuck in correction mode, but I’m getting some bullish vibes from ETH!
It looks like it’s starting to show some crypto strength.
Take a look at the latest crypto charts here.
Bitcoin has been moving sideways over the past week, as it struggles to make headway past the mid-channel area of interest.It looks like the Fib levels are doing a fine job of keeping gains in check, possibly sending BTC back to the swing low near the channel bottom at $28,000.
Technical indicators are giving mixed signals, though, as the 100 SMA is below the 200 SMA while Stochastic appears to be pulling higher from the oversold region.
ETH had been cruising inside a falling channel for a little over a month already, but it looks like price is attempting to breach resistance.
Bulls just need to get past the 200 SMA dynamic inflection point to confirm that a reversal is underway!
For now, though, the 100 SMA is still below the 200 SMA to suggest that there’s still a strong chance for the selloff to resume. However, Stochastic is heading north, so ETH could follow suit until overbought conditions are met.
LTC is in correction mode just like most of its crypto buddies. As you can see from the chart above, the price is hitting a ceiling at the 50% Fib and might be ready to slump back to the swing low at $104.84.200 SMA is right smack in line with the descending trend line on the 4-hour chart to add to its strength as resistance.
Stochastic is on its way down and has some room to move south before reflecting exhaustion among sellers. In other words, LTC bears have energy left to drag price even lower!
XRP appears to be hitting a roadblock at the 38.2% Fib but might still be able to pull up to higher correction levels.More sellers might be hanging out around the 50% level near the .8000 mark and 200 SMA dynamic resistance. This happens to be in line with an area of interest or a former support zone, too!
Stochastic is hovering around overbought levels and appears to be moving up to suggest a return in bullish pressure. Still, the 100 SMA is below the 200 SMA to indicate that resistance levels are more likely to hold than to break.
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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!