Crypto update: support for ripple interruptions when market ticks are lowered


Continuous trading continues in the cryptocurrency segment, with most of the major still stuck in narrow trading ranges, with few changes in the technical approach. Ripple is back in the center of attention after a period of lower trading activity in the third largest coin. XRP has moved below short-term support, triggering a short-term sales signal in our trend model, while remaining in a larger consolidation model that developed after the recent increase in currencies .

XRP / USDT, 4 hour chart analysis

Ripple is clearly below the $ 0.51 support after today's drop, and now the currency only has close support in the long-term zone near $ 0.42 – $ 0.46, while several strong resistance levels $ 0.51- $ 0.57 are being imposed in the area. That said, the long-term purchase signal remains in place, but given the still hostile trends in the segment, traders and investors should be cautious with the new positions.

The other majors have become lower today in the early trading, but after yesterday's rally yesterday, the main levels of support are holding on such stocks as Ethereum, Bitcoin and Litecoin. That said, some of the smaller altcoins are in weaker positions and, overall, the broader negative trends are clearly intact and the sellers have control of the market.

BTC / USD, 4 hour chart analysis

Bitcoin arrived at $ 6600 in late trading yesterday, but is now back near the $ 6500 support that has been the focus of attention for a month. The most valuable currency is still on the market in a triangular pattern on a larger scale, and this clearly affects the entire segment, causing mixed conditions and low volumes across the board.

We are still expecting a strong push in the near future of the currency and the entire segment, and given the downward trend, a negative result is more likely. Support levels are still at $ 6275, $ 6000 and close to $ 5850, while resistance is close to $ 6750 and $ 7000.

Ethereum little changed as it persists in Altcoin

ETH / USD, 4 hour chart analysis

Ethereum is still in a very narrow range and, although it has once again approached the resistance test of $ 235, the currency remains on a short-term neutral signal, despite being relatively weak from a long-term perspective.

The ETH is below the short-term decreasing trend line, but clearly above the primary support zone close to $ 200. Further support is still close to $ 180 and $ 160, while the resistance is ahead to $ 260 and in the $ 275- $ 280 zone, with broader declining trend lines converging near $ 270.

LTC / USD, 4 hour chart analysis

Litecoin also fell today and after trading up to $ 59 yesterday, the currency fell below the $ 57 level, with the $ 56 support test now very likely still. The currency is represented by short and long-term sales signals in our trend model, despite the recent period of relative strength, with the tendency to long-term decline that is clearly intact.

Traders and investors should not place positions here, with strong support levels at $ 51 and close to $ 44, while resistance levels are close to $ 59 and $ 64.

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

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