Weekly Review: BTC ETH XRP BCH LTC

5 nov. 2018

BTC/USD
Overview:
Bitcoin is in downtrend. All the highs and lows of the price have a decreasing trend, which is typical for the bear market. If the price of BTC / USD is lower than $5700, where the uptrend line is located (the trend was formed since March 2017), then the long-term reduction targets will be in the $4000- $3000 zone.

Current situation:
Bitcoin quotes traded near the $6400, $6450 resistance lines. If the price of BTC / USD will be able to overcome the level of $6450, then an increase to 6600-6800 is possible. With this, we will expect a drop to levels: $6100, $5700. Since the global trend remains downward, we do not recommend buying this asset.

Cancellation of the scenario may be caused by Bitcoin price increase above $6800.

Resistance levels: $6400; $6450; $6800; $6900; $7200; $7400.
Support levels: $6300; $6100; $5800; $5400; $4500.

Forecast:
Reduction of the price of BTC / USD from $6350 and objectives: $6100, $5700.

ETH/USD
Overview:
The trend of Ethereum is downward, the price is at historic lows (since September 2017). We expect a further decline in the asset in the $150- $100 zone.

Current situation:
The quotation of the Ethereum continues to be near the level of $200. The price of ETH / USD failed to go down from its local uplink. The nearest resistance zone are the levels: $205, $210, $240. The main support zone is $195-$185.
We expect continued decline in the price of ETH / USD to $150.
Resistance levels: $220; $240, $280; $300; $325; $350; $380; $400. Support levels: $200; $180; $150; $100.

Forecast:
Continued fall in the price of ETH / USD from $200 and the goal in the area of $180- $150.

XRP / USD
Overview:
If the sellers manage to break through the $0.44- $0.40 zone, then we will expect XRP / USD quotation near $0.30.

Also, we do not exclude the renewal of minimum prices in the $0.20- $0.15 zone.

Cancellation of the scenario may be caused by the growth of Ripple price above $0.50.

Current situation:
The situation does not change, the price of XRP / USD is located near an important support area.

Resistance levels: $0.50; $0.58; $0.70; $0.76.
Support levels: $0.44; $0.38; $0.30.

Forecast:
Ripple price reduction to $0.30.

BCH / USD
Overview:
The global trend remains descending. The main scenario remains bearish with the renewal of lows around $300.

Current situation:
The price of Bitcoin Cash continues to grow and has reached $580. We associate this growth with the announced hardfork of the cryptocurrency, which is to be held on November 15. We expect to update the annual BCH / USD price lows in the $400- $350 zone. We also do not exclude a fall in prices to the level of $300, where the line of support for the downward channel is located.

Resistance levels: $560; $600; $650; $680; $800.
Support levels: $520; $500; $450; $400; $350; $300.

Forecast:
BCH / USD price reduction to $350, after breaking through $425.

LTC / USD
Overview:
The trend is bearish. The price is in a downward wedge, the exit from which we expect down to the zone of 35-30.

Current situation:
The price of Litecoin continues to be above $50. The maximum possible growth of quotes within the correction, before further immersion, is in the zone $58-$62. We predict a fall in the price of Litecoin to the level of $46; we also do not exclude a fall to the $35 - $30 zone.

Resistance levels: $54; $58; $60; $62; $65; $68; $72; $75.
Support levels: $50; $49; $46.

Forecast:
The decrease in the price of Litecoin from the level of $54 and with the target of $46.