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Bitcoin, Litecoin & Ripple - American Wrap: 11/21/19

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Bitcoin, Litecoin & Ripple - American Wrap: 11/21/19

BTC/USD Technical Analysis: The Main Support Is Still Holding

  • Now the BTC/USD chart is still looking weak with lower highs and lower lows.
  • But the trend will be confirmed on the downside when 7,296.44 breaks lower.
  • There is also a channel forming which is represented by the blue lines.
  • What is interesting about the recent price drop is that the two prior candles were not overly bearish.
  • Momentum looked like it was slowing on the downside but all of a sudden in the EU session the support levels broke.

LTC/USD Technical Analysis: 50.00 Has Broken To The Downside

  • LTC/USD is still looking bearish after the psychological 50.00 level broke.
  • It is one of the worst-performing crypto's today after the heavy fall earlier in the session
  • Now 47.22 is in focus as it is the previous wave low, but the selling momentum has slowed down.
  • There is a channel formation marked in blue to keep an eye on too.

Ripple's XRP Technical Analysis: XRP/USD Flirting With Game-Changing Demand Zone

  • Ripple's XRP price is trading in the red by some % in the session on Thursday.
  • XRP/USD bears continue to flirt with the big support area seen at $0.2500. 
  • Critical weekly support should be noted at $0.2350, failure to hold could be punishing.

Image Sourced from Pixabay

Posted-In: Cryptocurrency News Eurozone Forex Global Markets Tech General

 

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