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I hope I’m not jinxing things by saying this, but it seems that cryptocurrencies are off to a solid start this quarter!

Can these gains be sustained? Or will longer-term ceilings keep holding?

BTC/USD: 1-hour

BTC/USD 1-hour Forex Chart
BTC/USD 1-hour Chart

Bitcoin is starting to show the first few signs of a reversal from its drop as price recently broke past the neckline of a double bottom.

A pullback to this broken resistance seems to be underway, though, while bulls try to gather more energy to charge again. Applying the handy-dandy Fib tool on the latest swing low and high shows that this area of interest is in line with the 38.2% level.

The 100 SMA has completed its crossover from the longer-term 200 SMA to confirm that further gains are in the cards. The 200 SMA also coincides with the 50% Fib to add to its strength as a floor on a deeper pullback. Stochastic is moving down but is closing in on the oversold region.

ETH/USD: 4-hour

ETH/USD 4-hour Chart
ETH/USD 4-hour Chart

Ethereum is also giving off reversal vibes since it made a fresh break from its longer-term descending trend line visible on the daily and 4-hour charts.

Price is also pulling back to this former resistance area, and using the Fib retracement tool shows that this is right smack in line with the 38.2% level.

However, the 100 SMA is still below the longer-term 200 SMA to signal that bearish momentum is in play. Also, the 100 SMA seems to have held as dynamic resistance while stochastic is just beginning to make its way south.

LTC/USD: 4-hour

LTC/USD 1-hour Chart
LTC/USD 1-hour Chart

Litecoin is also in the middle of starting a new trend as it forms a rising channel on the 1-hour time frame. Price just hit the resistance and looks prime for another test of support.

This area lines up with an earlier swing high, the 61.8% Fibonacci retracement level, and the 100 SMA dynamic inflection point. This moving average is above the longer-term 200 SMA to signal that the uptrend is more likely to resume than to reverse.

Stochastic is heading lower for now but is approaching oversold levels to indicate that bullish pressure could return soon.

IOTA/USD: 4-hour

IOTA/USD 4-hour Chart
IOTA/USD 4-hour Chart

IOTA has also had a good run over the past couple of days, but it ain’t out of the woods just yet. Looking at the 4-hour chart reveals that price is still moving below a descending trend line, and has yet to clear the next upside targets before making a reversal.

In particular, the 38.2% to 50% retracement levels span an area of interest near the trend line and 200 SMA dynamic inflection point. If this area keeps gains in check, IOTA could still revisit the swing low, especially since stochastic is starting to turn lower from overbought territory.

XRP/USD: 1-hour

XRP/USD 1-hour Chart
XRP/USD 1-hour Chart

Ripple buyers put up a pretty strong fight, just when it seemed that this digital asset was crashing through the bottom of its longer-term triangle last week!

Price is starting to create a new uptrend by forming higher lows and testing support at the 61.8% Fibonacci retracement level. This lines up with a former resistance level and the 100 SMA dynamic inflection point.

The 100 SMA just completed its bullish crossover while stochastic is dipping into the oversold region, indicating that buyers could get back in the game from here. If so, a move towards the swing high and beyond could be underway.

A bit of fair warning, though. There is a considerable amount of risk in trading cryptocurrencies due to their inherent volatility and sensitivity to headlines. Be careful out there!