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Consolidation… Consolidation everywhere! Bitcoin and its peers seem to be waiting for more directional clues, so make sure you watch out for potential breakouts.

BTC/USD: 1-hour

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

Bitcoin seems to have climbed out of the longer-term descending triangle we were watching last week, but there is still some hesitation on its climb. Price is cruising higher in a short-term ascending channel but is also consolidating near support.

This symmetrical triangle reflects the tug-o-war goin’ on between bulls and bears, with technical indicators giving mixed signals on direction. The 100 SMA is above the 200 SMA to suggest that an upside breakout is due, possibly leading to a move up to the channel resistance, but stochastic heading south shows that sellers have the upper hand.

ETH/USD: 4-hour

ETH/USD 1-hour Chart
ETH/USD 4-hour Chart

Ethereum is still stuck inside its symmetrical triangle but could be due for a breakout soon as the consolidation keeps getting tighter. But which direction will it go?

The moving averages suggest that the path of least resistance is to the upside or that resistance is more likely to break than to hold. This could spur a rally that’s the same height as the chart formation.

However, stochastic is already heading south without even hitting overbought levels, hinting that sellers are eager to hop in.

LTC/USD: 4-hour

LTC/USD 4-hour Chart
LTC/USD 4-hour Chart

Litecoin is also treading sideways lately but is still within its double bottom reversal pattern visible on the 4-hour chart. A neckline break and uptrend might still be in the cards, fellas!

However, the moving averages are oscillating to signal further sideways action while stochastic is moving down from the overbought region to reflect a pickup in selling pressure. In that case, another dip to the lows near $46 might be in the works.

XRP/USD: 1-hour

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

So much for that long-term upside break and small uptrend on Ripple last week! Price is inching lower inside a short-term descending channel and is currently testing the top.

The 100 SMA is below the longer-term 200 SMA on this time frame, hinting that the resistance would likely hold. In addition, the shorter-term moving average coincides with the channel top to add to its strength as a ceiling.

Stochastic is pointing up, though, so there may be some bullish energy left enough to spur an upside break from .4800. Then again, a possible rally could hit another roadblock at the 200 SMA dynamic inflection point, especially if the oscillator hits overbought territory by then.

XMR/USD: 4-hour

XMR/USD 1-hour Chart
XMR/USD 4-hour Chart

Yep, it’s another triangle consolidation pattern, you guys! Monero has also formed higher lows and lower highs to trade inside a symmetrical triangle on its 4-hour chart. Price is also at the peak of the formation to signal that a breakout might happen any minute now.

As with its other buddies, technical indicators are painting a mixed picture, so it’s anyone’s game from here. Just watch out for a move past the $115.50 area for a bullish break or a candle closing below $113.00 for a bearish move.

Just be warned, there is a considerable amount of risk in trading cryptocurrencies due to their inherent volatility and sensitivity to headlines. Be careful out there!