The short-term uptrend continues in the cryptocurrency segment, although the major has failed to reach new highs despite recent attempts at rallies. The technical configuration is still stable with regard to the best coins, without major support or resistance stops so far this year.
IOTA / USD, analysis of the 4-hour chart
The leaders of the move, Ethereum, IOTA and, to a lesser extent, Litecoin continue to perform relatively well compared to their peers, and Ethereum has regained second place on the list of the most precious currency from the slightly delayed Ripple.
Since Bitcoin is among the weakest majors, the total market value has hardly changed in the last few days, but the volatility is low and stable market conditions together with the Ethereum leadership suggest that the counter-current rally could continue even if the long-term remains bearish for the segment.
The coming days could be crucial for the fate of the short-term rally, but for now our trend model remains bullish, in the short term in the case of most of the best coins, so traders could still enter new positions, with a focus on the main currencies and with rigorous risk management strategies.
BTC / USD, 4 hour chart analysis
The bitcoin is still well below the resistance zone from $ 4000 to $ 4050 and the currency continues to lag even though it is negotiating a safe distance from the key support level of $ 3600. Our trend model is on a short-term purchase signal, despite being on a clear long-term sales signal, and a shift to the $ 4450 level could still be ahead in the coming weeks. Additional strength is between $ 5000 and $ 5050, while support below $ 3600 is close to $ 3250 and $ 3000.
ETH / USD, 4 hour chart analysis
Ethereum recovered the $ 150 level yesterday, approaching its high Christmas swing, but for the relatively strong currency it was stopped by the strong resistance zone in the area. A move above $ 160 could pave the way for a $ 180 level test, and although oversold momentum readings are almost zero, the counter-current rally is still intact. Support zones are close to $ 130, $ 120 and between $ 95 and $ 100, while another strong resistance level is ahead of $ 200
Ripple and Litecoin Still Range Bound
XRP / USDT, 4 hour chart analysis
The Ripple rally attempt was halted by the resistance zone near $ 0.3750 once again, and the currency returned near the $ 0.3550 support that has been in focus for weeks. The XRP continues to be relatively weak compared to the leaders of the countertrend move, and although it is still a sign of short-term purchase in the trend model, the long-term downtrend is not in jeopardy.
The long-term key resistance is still ahead in the $ 0.42- $ 0.46 zone, with additional levels at $ 0.3750 and $ 0.40, while further support is close to $ 0.32 and $ 0 , 30 and although traders can enter new positions here, the leaders offer better trading opportunities.
LTC / USD, 4 hour chart analysis
The short-term technical position of Litecoin is slightly weaker than before during the counter-current rally, but the currency is still among the strongest currencies from a short-term perspective and we continue to expect a move above the resistance level of $ 34.50 and the previous high swing near $ 36.
For now, LTC remains on a short-term purchase signal, with the support zone in the $ 30- $ 30.50 area clearly holding up. Further support is close to $ 26, while the next key resistance level is near the price level of $ 38.
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Disclaimer: the analyst possesses cryptocurrency. It holds investment positions in the currencies, but does not carry out short-term or day-trading transactions, nor holds short positions on any of the currencies.