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Thread: Analisa Cryptocurrency

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    Default Analisa Cryptocurrency

    Litecoin Down but Uptrend Remains

    Litecoin is down a bit since our last update. Back then LTC/USD was quoted right at the $50 mark. The next day it peaked to a high of $54 on FXOpen before falling back slowly to $44.69 right now.



    Despite the losses, no important levels have been breached yet. An end to the bullish trend requires a break below the $36.24 swing low, while a new downtrend could commence on a clean move below the $34.42 swing low.

    On the upside, we have resistance around the $50 round figure. This is a previous multi-year high for LTC/USD. Although prices stayed above here last week for a few days, the level will likely continue to be relevant. Higher up the new all-time high at $54 dollars is another notable level. A breakout above here could intensify the gains.

    On the lower end, we have support around the $36.24 and $34.42 swings, as noted above. Lower still we have more potential levels at $30 round figure followed by a strong support area around $26 dollars per coin. On the weekly and monthly charts LTC is still looking bullish.

    Source: FXOpen blog

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    Bitcoin Tests Important Support

    The meltdown in crypto prices continues, with many of the top 20 altcoins hitting drawdowns of over 50 percent from the highs. Luckily the two coins we follow on Tuesdays have so far avoided this fate. Bitcoin is down by ‘only’ 21 percent from the highs while LTC/USD is down by just over 17 percent.

    Bitcoin Bounces at Important Support

    Bitcoin tested the important support at $2,250 today. By the looks of things, the first try was unsuccessful for the bears. Prices dipped to a low of $2,245 on FXOpen today and stayed there for a grand total of 1 minute before bouncing back above the $2,250 mark. Soon after we had a major rally of $139 dollars to hit a high of $2,384. We have since fallen back a bit to $2,331 dollars per coin.



    Bitcoin is not in a downtrend, not yet anyway. We look for a decisive breakout of important levels like $2,250, not shallow and brief spikes below like the one we had today. It remains to be seen if the bears make another attempt for the lows in the next few days.

    For now, we are back in ‘wait and see’ mode. The levels to watch are $2,245 on the downside and $2,700 on the upside. A clean breakout beyond either of these price extremes could end the stalemate and start a new trend. This is the view on the daily charts. On the weekly and the monthlies, the bullish trend is still intact.

    Source: FXOpen blog

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    Ether in Downtrend After Major Losses

    It’s been tough two weeks for Ether. Since our last update, the fledgling crypto-currency lost over 26 percent versus bitcoin and even more versus the US Dollar.

    Ether in Downtrend After Losses

    After the recent large losses, ETH/BTC is now in a downtrend. The altcoin lost close to 30 percent versus the US Dollar and 26 percent versus bitcoin.



    Support on the way down can be found at this month’s low of 0.07574, followed by the 0.0631 swing low and the 0.05 round figure. On the way up we have resistance at the 0.10 round figure. A clean breakout above 0.11 BTC would end the current downtrend. A move above the 0.1259 swing high is needed for a new rally. On the long-term charts (weekly and monthly) ETH/BTC remains in a bullish trend.

    Fundamentally no major news transpired during the past few weeks. It’s possible that the flurry of ICOs during June is now leading to selling pressure. Two major ICOs, Status and Tezos, stated that they plan to sell the acquired Ether, albeit at a gradual pace.

    Another Unsuccessful Breakout in Dash

    Dash Prices are back in a range after yet another unsuccessful breakout, the third one in a row. On July 6th DASH/BTC peaked to a high of 0.08697. Three days later a low of 0.06674 was hit. We are currently quoted somewhat in the middle at 0.07285 BTC per coin.



    A new rally requires a decisive breakout above the high at 0.087 BTC. Yes, we already had 3 failed attempts to go higher. But with each failed test we get closer to a potential trend starter. For us it doesn’t matter which way the market moves. A break below the 0.0606 swing low would start a new downtrend while a move above 0.08748 could start an uptrend. In either case, following the market should pay off over the long-haul. On the long-term charts Dash/BTC is looking bullish as well.

    Bitcoin Remains in a Range

    A crypto update is not complete without mentioned big brother. Bitcoin is still stuck in a range on the daily charts. The two levels to watch are $2,245 on the downside and $2,700 on the upside. A clean break above either of these price extremes could start a new trend lower/higher. On the long-term charts BTC/USD is in rally mode, just like ETH/BTC and Dash/BTC.

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    Source: FXOpen blog

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    Litecoin Rallies 21 Percent From Lows

    Litecoin followed big brother bitcoin, first lower then higher. On July 16th a low of $35.30 was hit, followed by a 21% rally to $42.89 the next day. Today we are trading a bit below the highs at $41.88 dollars per coin.



    Unfortunately for the bulls, the sharp 35% decline from $54 to a low of $35.30 was enough to trigger the end to the uptrend. A new bullish market (on the daily charts) requires a break above the $54 dollars all-time highs. On the other hand, a breakdown below this month’s swing low at $35.30 would start a new LTC downtrend. Weak support below here can be found at $35, followed by $30 round figure. We have a bit stronger support area around $26 dollars per coin. A clearing of this area could lead to more losses.

    To the upside we have weak resistance at the $47.39 swing high, followed by the $50 round figure and of course, the $54 dollars all-time high. On the long-term weekly and monthly charts, LTC/USD remains in rally mode.

    Source: FXOpen blog

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    Default

    Bitcoin Tests Important Support

    The meltdown in crypto prices continues, with many of the top 20 altcoins hitting drawdowns of over 50 percent from the highs. Luckily the two coins we follow on Tuesdays have so far avoided this fate. Bitcoin is down by ‘only’ 21 percent from the highs while LTC/USD is down by just over 17 percent.

    Bitcoin Bounces at Important Support

    Bitcoin tested the important support at $2,250 today. By the looks of things, the first try was unsuccessful for the bears. Prices dipped to a low of $2,245 on FXOpen today and stayed there for a grand total of 1 minute before bouncing back above the $2,250 mark. Soon after we had a major rally of $139 dollars to hit a high of $2,384. We have since fallen back a bit to $2,331 dollars per coin.



    Bitcoin is not in a downtrend, not yet anyway. We look for a decisive breakout of important levels like $2,250, not shallow and brief spikes below like the one we had today. It remains to be seen if the bears make another attempt for the lows in the next few days.

    For now, we are back in ‘wait and see’ mode. The levels to watch are $2,245 on the downside and $2,700 on the upside. A clean breakout beyond either of these price extremes could end the stalemate and start a new trend. This is the view on the daily charts. On the weekly and the monthlies, the bullish trend is still intact.

    Source: FXOpen blog

    Start Bitcoin and Litecoin fx trading with FXOpen.

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