Analysis of the Crypto-currency as of 03/21/2018


Analysis of the Crypto-currency as of 03/21/2018

Let's look at the forecast of the market for crypto currency based on the main digital currency – bitcoin, as well as Litecoin and Ethereum, which undoubtedly influence the general market behavior.

Bitcoin (BTCUSD)

Yesterday the coin quietly broke the resistance line is 8757 dollars, the same for the day has added 7.3%. Such growth of the main crypto currency was due to consolidation in the American session. Open position yesterday at around 8440 dollars brings an average profit of 500 dollars. It is recommended to transfer the level of trades to 8290 (former resistance) or to a break-even line.

Today, despite active MACD signals and sliding Alligator, bulls do not yet move the market. Now the market will test the resistance line at 9750 dollars, which has not happened since March 12. The support line stopped at $ 7800. The market capitalization of Bitcoin is 153.65 billion dollars.

Litecoin (LTCUSD)

As usual with Litecoin, it strengthens in the wake of the main crypto currency. Yesterday closer to the end of the session, LTCUSD broke through resistance of $ 155.4. Many expected a grassroots correction of the market, but the coin formed an upward wedge, which affected $ 13.68 per day and an overall figure of $ 157.84 at the end of trading.

The sliding Alligator shows that Litecoin should continue to grow. Due to the action of the bulls, the pair returned to the range of 155.4 – 182.9 dollars, which is considered the main goal of traders for the next couple of weeks. Consolidation of the market should expect about 170 dollars, and entry points to choose 131 dollars (if the pair breaks 127.5) or 140.4 (rebound from 137.2). The capitalization of Litecoin is 9.61 billion.

It can be interesting:  The rate bitcoin collapsed after the news about tightening regulation of the Crypto-currency in the US and rumors about the hacking of the Binance exchange

Ethereum (ETHUSD)

The second by the capitalization of the crypto currency (57.22 billion) was able to add $ 22.32 following the results of yesterday's session, thereby stopping the downward trends. At the close of the session Ethereum cost 550,65 dollars. There is a possibility of testing the border at 600, but so far the range of trades is 465.8 – 600 dollars.

As in the two previous cases, Alligator and MACD indicate a potential growth opportunity for ETHUSD. We buy coins at $ 490 in case of a rebound from 475 or sell at 575 with a possible rebound of $ 600.

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