Technical analysis (BTC, ETH, XRP, BCH) Thursday, August 16, 2018

Technical analysis (BTC, ETH, XRP, BCH) Thursday, August 16, 2018

The general overview of Top-4 crypto coins for today — rise and fall and possible trends.

BTC/USDT

  • Bitcoin price recently broke above a short-term descending trend line as an early reversal signal.
  • Price reached the $6,650 level then made a pullback to the broken resistance.
  • Technical indicators also suggest a continuation of the reversal.

ETH/USDT

  • ETH price traded higher, but it failed to hold gains above $300 against the US Dollar.
  • There is a major bearish trend line capping gains with current resistance at $299 on the hourly chart of ETH/USD.
  • The pair may dip a few points and it could test the $277 and $271 support levels.

XRP/USDT

  • Ripple recently busted through a descending trend line to signal that a reversal from the downtrend is underway.
  • Price is pulling back to the broken resistance, though, so a retest appears to be taking place.
  • If the former resistance holds as support, price could resume the climb to the swing high or the next Fib extension levels.

BCH/USDT

  • Bitcoin cash price recovered further, but it failed to move above the $540 resistance area against the US Dollar.
  • There is an expanding triangle forming with current support at $492 on the hourly chart of the BCH/USD pair (data feed from Kraken).
  • The pair could bounce back once again, but it has to break the $530-540 resistance zone for more gains.
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