Analysis of long-term cryptocurrency: interruption or forward inversion?


From a long-term technical perspective, it has not changed much in the cryptocurrency segment in recent weeks, with only the Bitcoin rallies giving the bulls something to cheer about. The downward trend that has been dominant for months is still intact in most cases, and despite numerous rally attempts, sellers have always come back strong, pushing the major currencies towards the key support levels that have been tested in the last months.

the total market value remained below $ 300 billion, with the exception of a few short peaks, while capital flows were negative almost the entire year. Despite the clear sales pressure at the segment level, the most important currencies continue to hold above the key support and the current relative strength of BTC is a possible turning point for the coming weeks. If the best currencies follow the relatively weak ones, such as LTC and XMR below long-term support, a longer structural bear market may start

BTC / USD, Daily Chart Analysis

For now, BTC is safe above the $ 5850 level from an important structural point of view and the currency has erupted from the downward trend during the recent increase. That said, given the widespread sales pressure on the market, a trend change is not yet confirmed and traders should not enter complete positions here, while investors should still keep their coins.

In the case of a break below $ 5850, the next major support is $ 5,000, while a recovery above $ 8400 would confirm a new uptrend. In the current broad trading range, the $ 7650 to $ 7800 zone is the most important with other levels of interest at $ 7350, $ 7000, $ 6750 and $ 6250.

ETH / USD, Daily Chart Analysis

Ethereum showed short-term weakness compared to Bitcoin despite the fact that April lows are still well below current price levels. The downtrend of the currency is clearly intact and a 4360 level test is now very likely, even if a bullish reversal is ahead. The long-term trend signal is neutral for ETH, while in the short term the currency is on a clear sales signal. Support above the April low is $ 400 and $ 380, while strong resistance is ahead of $ 450, $ 500 and between $ 555 and $ 575.


LTC / USD, Graphical Analysis a 4 hours

Litecoin continues to drive the lowest mode, being stuck in a long-term downtrend following a failed rally above the support / resistance level of $ 90. The $ 75 support is currently new to the center of attention, and a move below this is likely, given the strong downtrend. Traders and investors should not enter new positions, with further strong resistance to $ 100 and support found near $ 64- $ 65


DASH / USD, 4-hour chart analysis

Dash is weak on all time frames, trading already on a new low cycle, below the support of $ 215. The currency rebounded to $ 300 during the consolidation phase, but with the failure of the resistance above the resistance, the strong downward trend remains intact. The main support now stands at $ 200, while the resistance is ahead at $ 265, close to $ 300 and $ 360.


XRP / USD, 4-hour chart analysis

Ripple broke through a frantic consolidation period, but as the selling pressure remained clear, all failed rally attempts. The currency is barely above the structurally important support level close to $ 0.42, while trading has been centered around the $ 0.45 level for weeks Above, strong resistance is ahead at $ 0.51, $ 0 , 54 and $ 0.64, while the next major support zone is between $ 0.30 and $ 0.32.

Ethereum Classic

ETC / USD, 4-hour chart analysis

Ethereum Classic continues to be very volatile and range-bound and the currency is in a relatively stronger position than the other majors, trading well above the key area $ 13- $ 13.50. That said, the short-term configuration is still bearish, and traders should not post new positions here. Additional support is close to $ 16, $ 14.50 and $ 11, while the resistance is ahead of $ 18.


XMR / USD, 4-hour chart analysis

Monero has experienced counter-current rallies after its structural break down, similar to Dash, but since the currency failed to regain the key areas of resistance, the downward trend remains intact. Now, XMR is back near the June low, and a minimum test, and even the new lows are likely in the coming weeks, so traders and investors should stay away from the currency. Support is still close to $ 110 and $ 80, while resistance is ahead of $ 125, $ 150 and $ 175.


NEO / USDT, 4-hour chart analysis

Even the strong rebound in the NEO vanished, and the currency returned to the lows of June, along with other relatively weak currencies, confirming the segment's downward trend. Now, a $ 25 move is likely even if an inversion is close, and traders and investors should avoid placing new positions here. The main support is close to $ 2650, while the resistance is ahead to $ 30 and $ 34.


IOTA / USD, 4-hour chart analysis

IOTA is stuck in a strong downtrend and the currency is negotiated at the June minimum, risking a structural break and a long-term sales signal. Excluding a quick reversal, a shift to $ 0.75 is likely, with additional levels of $ 0.64 and $ 0.48, and resistance to $ 1, $ 1.1 and $ 1.2

EOS [19659030] EOS / USD, 4 hour chart analysis [19659002] EOS passes over the $ 6.50- $ 7 key area, still showing long-term technical strength, but a move below that zone would be a bearish song, and the recent short-term weakness is suspect. Traders should not yet enter new positions here, while investors should keep their coins, with further support found at $ 4.50 and resistance close to $ 9, $ 10 and $ 12

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Disclaimer: the analyst possesses cryptocurrency. It holds investment positions in the currencies, but does not conduct short-term trading or day trading, nor holds short positions on any of the currencies.

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