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Market data information available from HitBTC exchange

Cryptocurrencies are part of the evolving technology and are still in a nascent stage. They are therefore likely to remain quite volatile compared to other classes of mature assets.

The first investors in cryptocurrency were for the most part technology enthusiasts who saw a future. After the huge returns of 2017, more and more institutional investors want to join the party.

This changes the way cryptocurrencies work. Over the past 90 days, the correlation between the S & P 500 and cryptocurrencies has risen to 33%, well above 19%, according to Nick Colas, co-founder of DataTrek Research. The long-term average is well below 1%

2018 has proved extremely negative for both the stock market and for cryptocurrencies. Let's see if the top pieces point to a recovery of the downtrend, similar to the S & P 500.

BTC / USD

Although it's best to trade with the trend, sometimes, against strong Trend rallies can also be profitable. Bitcoin is trading inside a downstream channel with both the EMA at 20 days and the EMA at 50 days down. This shows that he is in a confirmed downtrend. The current retreat is expected to face resistance to the downtrend line and the 20-day EMA

<img alt=" BTC "src =" https://cointelegraph.com/storage/uploads /view/aeb4a569f97fe8331899da49e2f69c11.png "title =" BTC "/>

In a downtrend, when the sale is exaggerated, and prices reach attractive levels, it can offer a short-term business opportunity.

We believe that if the BTC / USD pair remains above the February 06 low, traders will have the opportunity to enter long positions, the perfect time to buy would be when prices would exit the bearish trend line and the 20-day EMA.The profit objective of such a trade will be a move towards the resistance line of the descending channel.

However, if the price collapses and continues to make a new lows, the opportuni The above-mentioned commercial entity will be invalidated

ETH / USD

The Ethereum plunged from $ 1,265 to $ 565.54 l evolves within nine days. The trough of February 2006 also coincided with the downstream channel support line.

<img alt=" ETH "src =" https://cointelegraph.com/storage/uploads/view/7da4ee2d3c0b1e8f996e589d03121cef.png "title =" ETH "/>

Moving Averages are Complete We expect the current phase of the pullback to face resistance to the EMA at 20 days, if the ETH / USD remains above the February lows

We should avoid trade if cryptocurrency sinks to new lows

BCH / USD

Yesterday, Bitcoin Cash makes it is now likely to head to the downtrend line and the 20-day EMA where he could face a strong resistance.

<img alt=" BCH "src =" https://cointelegraph.com/storage/uploads/view/33e8736e2e053ddcb1c013a33666524c.png "title =" BCH "/>

The BCH / USD pair will become positive in the short term as soon as it is ut and p stands above the downtrend line. We expect it to form a bullish pattern in the coming days. The primary objective is to move to levels of $ 2,072

We currently do not find any bullish model; therefore, we do not recommend any exchange on this subject.

XRP / USD

Ripple caused a lot of heartburn to his investors. At the current price, it is still down about 67% from its peak. It has been trading in a small range for the last five days and does not find much interest among buyers.

<img alt=" XPR "src =" https://cointelegraph.com/storage/uploads/view However, we think that if the XRP / USD pair comes out of the 20-day EMA and the downtrend line, we can expect that it will attract new purchases. It is therefore necessary to wait for a break above the 20-day EMA before buying.

Our vision of a short-term trough will prove to be false if the cryptocurrency breaks down from the lowest ones formed on February 6th.

XLM / USD

Stellar became bound rank for the last three days.Intraday, he faced the previous support resistance of $ 0.41.

<img alt=" XLM "src =" https://cointelegraph.com/storage/uploads/view/3908627d9a90a99851722eda0f391844.p ng "title =" XLM "/>

A breakout Above this level will again be confronted with the downline channel resistance line sale.The trend of the XLM / USD pair will change only once it has burst and will remain over the descending channel.

Stellar will become negative if he maintains himself under the levels of $ 0.30

LTC / USD

Litecoin is close to the l? EMA of 20 days, which acted as a strong resistance on two previous occasions.

<img alt=" LTC "src =" https://cointelegraph.com/storage/uploads/view/c58201f27a0af67b662645f37067b785.png "title = "LTC" />

If the bulls get out of this level, they are likely to face another round of sales around the $ 175 mark, which has a double resistance, from the downtrend line and the horizontal line.

Once the LTC / USD has detached itself from these resistances, it will probably start a new uptrend, which can bring it to $ 243 and then to $ 307

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ADA / BTC

Cardano can not find any buyers. He continues to struggle near the low formed on 02 February. He also formed a descending triangle pattern, which is a bearish pattern.

<img alt=" ADA "src =" https://cointelegraph.com/storage/uploads/view/8798525a2e2c01014b4c70e39d5c5d93.png "title =" ADA "/>

If l & # 39; ADA / BTC the pair decomposes and stands under the horizontal support of 0.00004070, it will complete the formation of the descending triangle, after which it will probably slip to 0.0000246 levels where the purchase is expected to emerge.

Our bearish view will be invalidated if the digital currency bursts and closes above the descending trend line of the triangle

NEO / USD

NEO faces resistance to averages mobile, as noted in our previous analysis.day pattern inside yesterday, February 08, and it is likely to repeat the same pattern today.

<img alt=" NEO "src = "https://cointelegraph.com/storage/uploads/view/66f0c7d8154c9b10aabb013b03ebcf40.png" title = "NE O "/>

These successive inboard day patterns have the same effect and spring winding. Once the bulls have broken above the $ 120 levels, a quick rally at the $ 140 downtrend line could take place. Traders can keep an initial stop loss of $ 100, which can be followed above to reduce the risk.

On the other hand, if the NEO / USD pair breaks down instead of bursting, it will become negative, and it is likely that a new test of the lowest of the 06 February.

EOS / USD

EOS broke the down channel, indicating a bearish downtrend. However, he was faced with close brand resistance of $ 8.97 for a few days. A break above this level should propel the cryptocurrency higher to $ 10 and then to $ 12

<img alt=" EOS "src =" https://cointelegraph.com/storage/uploads/view /46b898cb7ad19c02bc5d6e5c789b9ca1.png "title =" EOS "/>

Very short term traders can initiate a long position in the EOS / USD pair at $ 9 and keep a SL of $ 7.5. a very risky trade, traders should use only 50% of their usual allocation

Market data are provided by the exchange HitBTC Charts for analysis are provided by TradingView.