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January 15, 2019 / by Bill Noble
Looking at a three-day Tron chart (TRX), we see strong technical resistance in TRXBTC at 700 satoshi. This is the level of the Bollinger Band top and an interesting horizontal level that dates back to April and June. 757 satoshi is a level of resistance higher than that (Figure 1).
Figure 1
Tron (TRX) will need an important catalyst to get 757 satoshi, especially if there is a general crypto in the post-Ethereum hard fork.
Speaking of Ethereum (ETH), the key rotation level may be the 21-period moving average on a two-day chart. That level is $ 126. If $ 126 serves as a support, this could mean that Ethereum (ETH) could be stable or even go up. However, if Ethereum (ETH) falls below $ 126, another major decline may begin. In the past, the false breakouts above this moving average triggered sharp declines once Ethereum (ETH) fell below the average of 21 periods (Figure 2).
Figure 2
The same can be said for Litecoin (LTC). The average of 21 periods on the two-day chart is $ 33.86. This seems to be a key level of rotation. If Litecoin (LTC) can hold above this point, this could be very positive. As with Ethereum (ETH), if Litecoin (LTC) falls below this level, the technical configuration may be the same as in September. In that case, Litecoin (LTC) spent about 10 days above the average of 21 periods before going below it and then crumbling.
Figure 3
Bottom line: $ 126 in Ethereum and $ 33.86 in Litecoin (LTC) are two levels to see if the bulls or bears have control of the market. Support is support until it is.
The Crypto.IQ trading desk he had the call on Ethereum (ETH) for several weeks. I will continue to rely on their guidance to decide whether the hard fork will be an important technical event or a non-event.
Join me there.
