Altcoin Analysis: Crypto Market in Green Again

February 22, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

This morning the daily prices were mainly negative, but the weekly rates are (as yet) spared. You can see that now market unlike in the morning is “green” again.

BTC/USD

Bitcoin continues to rise, despite the narrowing of the trading range. BTC/USD trading pair on Wednesday strengthened by $26.50 to $3903.99. Bulls still intend to test the resistance of $4000, but this may be difficult, given the long shadows up on the daily chart. Alligator and MACD indicate growth and possible consolidation near current levels.

LTC/USD:

Litecoin has finally consolidated above the resistance of $45. According to the results of Tuesday Litecoin entrenched above $45 resistance, rising on Wednesday by 6.6% to $48.87. With the $48 triggered a buy signal at the moment the pair is consolidating around $48.80 for a long time. At the H4 chart, MACD volumes decreased, indicating that the bullish momentum reduction if in the near future will not resume rising dynamics again, there are risks of a reversal of the price downward.

ETH/USD

Ethereum finished growing fifth session in a row. On Wednesday, the Ethereum value increase was $2 to $143.24. Buyers tend to settle down and gain a foothold above the resistance of $141, while they do it, we are waiting for a steady increase to $157.80 resistance. Nevertheless, given the susceptibility of cryptocurrency prices to follow the direction of the market as a whole, downside risks remain, which is why we do not plan to buy from current positions. Entry points, as before, are located at $120 and $160.

Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing in any cryptocurrency.

Author: Marko Vidrih

Charts via TradingView, Coin360