Market Overview

Bitcoin, Ethereum & Litecoin - American Wrap 6/18

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Bitcoin, Ethereum & Litecoin - American Wrap 6/18

Bitcoin Chart Analysis: BTC/USD remains stagnant trading between $9,400 and $9,500

Another decent bullish reversal candlestick was formed on June 17. Unfortunately, Bitcoin hasn’t seen any notable continuation after two bullish reversal candlesticks. Bulls need to hold the daily 26-EMA and encounter a resistance level at the 12-EMA at $9,499. 

Ethereum Market Update: Ethereum loses attractiveness as a means of payment

Ethereum is changing hands at $233.00, mostly unchanged both since the start of Thursday and on a day-to-day basis. ETH/USD touched the low of $218.14 on May 15 and got back above $230.00. The sell-oof stopped on approach to daily SMA50, however, the further recovery is limited at this stage due to Ethereum's high correlation with Bitcoin.

Litecoin Price Analysis: 43.50 looks like a strong support level

There is a head and shoulders pattern that has emerged on the hourly chart which could send the price lower. But stopping this there is also a stubborn support level at 43.50 which the bears need to crack. To add it the bearish woes the price is also trading below the 55 and 200 moving averages.

 

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