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The encouraging rally in the cryptocurrency segment has continued in earnest in the last 24 hours, and several better currencies have surpassed the main resistance levels after forming higher lows, confirming a short-term trend change. While the broad rally has lifted all the majors, and the long-term high-energy momentum readings along with the horrible sentiment will likely lead to a large-scale exchangeable rebound, the long-term bearish picture remains unchanged in the segment.
For this to change, we should see at least a lower minimum in the long-term charts, but for now, the market rules remain valid for the best coins. We will take a closer look at the long-term prospects later in our long-term cryptanalysis analysis. For now, traders could place long positions on relatively strong currencies, but from a broader perspective, at least a new minimum test is likely.
BTC / USD, 4 hour chart analysis
Bitcoins pushed above the $ 3600 key yesterday in late trading, triggering a short-term purchase signal in our trend model. While the long-term sales signal remains clearly in place, the most valuable currency could reach $ 4450 swing in the coming weeks, amplified by the negative sentiment and oversold momentum readings.
That said, the key technical break in November is clearly intact and the long-term bearish trend is not in danger for now. The primary resistance is between $ 4000 and $ 4050, while above $ 4450 the next zone of interest is between $ 5000 and $ 5050 and the additional support is $ 3250 and $ 3000. 
ETH / USD, 4 hour chart analysis
Ethereum also managed to return above the crucial $ 95- $ 100 resistance zone along with the broader market, triggering a short-term purchase signal in our trend model. The rally could extend to areas of resistance near $ 120 and $ 130 in the coming weeks, and traders could now enter short-term operations on the pullbacks, despite the long-term downtrend trend still intact. Further strong resistance is ahead near $ 160, while support is close to $ 80 and between $ 73 and $ 75.
Wide Rally in Altcoin with coins that reach 30% on average
LTC / USD, 4 hour chart analysis
The strong oversold rally also brought all the major hikes up, and on a positive note, the first leaders of the countertrend move continue to be strong, increasing the odds of a stronger upward move. Litecoin has been one of the strongest currencies so far during the current move, and along with Ripple, they triggered buy signals before the rest of the market.
The LTC is traded near the key support / resistance zone $ 30- $ 30.50 and although even a $ 26 pullback is in the cards, traders could enter long positions, with targets at $ 34.50 and $ 38.
XRP / USDT, 4 hour chart analysis
Ripple also formed a short-term minimum and confirmed yesterday's breakout, and today has regained the $ 0.3750 level, while it has become overbought by a short-term outlook. That said, a $ 0.42 to $ 0.46 zone test could be in the lead, even if the long-term sales individual remains in place and the odds still favor a new minimum test after the countertrend movement. The support is now near $ 0.3550 and $ 0.32, while the additional resistance is close to $ 0.51.
IOTA / USDT, analysis of the 4-hour chart
While the large-scale move has lifted all the majors and most of the smaller currencies, currencies in stronger bearish trends such as IOTA, DASH, NEO, Monero, ETC and Stellar are still vulnerable despite the high level short term. earnings.
With this in mind, even if long speculative positions could be opened in battered currencies, strict risk management rules should be used, with a net selloff likely in the coming weeks.
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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.
