Market Overview

Bitcoin, Ethereum & Litecoin - American Wrap: 4/7/2020

Bitcoin, Ethereum & Litecoin - American Wrap: 4/7/2020

Bitcoin Price Analysis: There Are Some Decisions To Be Made Now As Price Is In A Critical Zone

Technically on this daily chart Bitcoin is still in a downtrend. There is not been a new higher low wave but sometimes the price does move in straight lines in the cryptosphere. On the lower timeframes (4-hr) the waves are more prominent but historically and even looking at the chart below before a change in trend a nice ABC pattern does form. Looking at the chart in more detail now the 55 daily exponential moving average has been taken out. The 200 simple moving average is very close to the 8K zone but the main area of resistance is 7871.60. 

Ethereum Price Analysis: ETH/USD Bulls Eyeing $200 Return

Ethereum price is trading in the red by -0.35% in the session on Tuesday. 

ETH/USD has smashed above resistance that had been capping upside from $145-150. 

The next major barrier for the bulls to break down is eyed at $200. 

Litecoin Price Forecast: LTC/USD Set For Big $50 Return

Litecoin price is trading in positive territory by 2.20 % in the session on Tuesday. 

LTC/USD bulls have further capitalized after breaking down the $40 mark. 

The next major target to tackle will be the $50, a breakout and closure above is key.

Image source from Pixabay


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Posted-In: Bitcoin cryptocurrencies FXStreetCryptocurrency News Economics Markets General

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