Areas of interest are holding as support for bitcoin and its buddies these days.
Are bulls aiming for the next upside targets from here?
Bitcoin (BTC/USD) found a floor at the area of interest we were watching last week!
As you can see from the chart above, price is bouncing off the support zone at the rising trend line, former resistance, and 100 SMA dynamic inflection point.Fibonacci extension levels as their profit targets, with the 50% level lining up with the latest swing high.
Stronger upside momentum could take it up to the 61.8% extension at $71,500 or the full extension at $82,700!
Ethereum (ETH/USD) also seems to have completed its correction and is now resuming the uptrend. Heck, price is already testing the 38.2% Fib extension!Stochastic is pulling higher and has room to climb before reflecting exhaustion among buyers.
To top it off, the 100 SMA is safely above the 200 SMA to suggest that the path of least resistance is to the upside.
Sustained bullish pressure could still take ETH further north to the 50% level around $5,000 or the 61.8% Fib at $5,280. The full Fibonacci extension is at $6,122.80.
Litecoin (LTC/USD) is still hanging out at the area of interest visible on its daily time frame, but it looks like support is holding.
After all, this potential floor is around the 100 SMA dynamic support and a rising trend line that’s been holding since July this year.
Stochastic is suggesting so, as the oscillator indicated exhaustion among sellers and is starting to pull higher to signal a pickup in buying pressure.
A strong bounce could follow since a moving average crossover just took place, confirming that the odds are shifting in favor of buyers.
Monero (XMR/USD) is looking a little different from its crypto peers, but it seems to be giving off bullish vibes just the same!Price formed lower highs and found support at the $220 level, creating a descending triangle pattern on its daily time frame.
Support appears to be holdin’ like a boss, especially with Stochastic climbing out of the oversold region to suggest a return in bullish momentum.
If the triangle bottom is enough to keep losses in check, price could climb right back up to the top around $275. After all, the 100 SMA is still above the 200 SMA to suggest that support is more likely to hold than to break.
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