The situation remains unchanged since our last review as the currency pairs’ volatility is low. BTC/USD, LTC/USD, XMR/USD, NEO/USD restored yesterday but failed to develop their progress as bears still make attempts to hold the price and to push it down.
BTC/USD
Bitcoin reached the resistance area at $8,890 during the late US-Asian session. However, the Bitcoin price retreated sharply meaning bulls have not enough power to develop their progress.
The currency pair is higher the Ichimoku cloud meaning bulls have the initiative in the moment of writing this review. There are no candlestick signals currently and it is better to wait for them in order to take further actions.
Possible scenarios for BTC/USD are the following:
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Bitcoin will try to jump off the ascending trend line and the support area at 8,695 targeting the next resistance area 8,890, which the cryptocurrency reached during the late American session. There may be another test.
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BTC/USD will cross the support area at 8,695 and fall towards the higher border of the Ichimoku cloud. The next target, in this case, will be the support area at 8,528. However, the Ichimoku cloud may be an obstacle on the way.
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The next scenario is neutral meaning there will be no significant fluctuations. And BTC price will stay close to current levels or move along the local ascending trend line without leaving it.
LTC/USD
Litecoin price is above the Ichimoku cloud meaning bulls have initiative currently. There is no candlestick pattern at the moment.
Possible scenarios for LTC/USD are the following:
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LTC price will target the resistance area at 153 and reach it. Then, LTC/USD will test it and further progress will depend on the results of those actions.
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Litecoin will jump off the resistance area at 146 (where it fluctuates currently) and fall towards the support area at 138. However, there is the Ichimoku cloud on the way, which may prevent bears from pushing LTC/USD lower.
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LTC price remains close to the current levels or move slowly around the local ascending trend line.
XMR/USD
Later the Asian session XMR/USD managed to jump over the support area at 214. There are no candlestick signals currently.
Possible scenarios for Monero are the following:
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XMR/USD will move towards the next resistance area at 219 and test this level.
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Monero will cross the current support area at 214 and fall below it targeting the midterm descending trend line (green). The next aim may also be at the next support area (204).
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The currency pair will stay close to the current levels with no significant fluctuations.
NEO/USD
NEO/USD went above the descending midterm trend line during the Asian session. The current pair stays above it at the moment. There are no candlestick patterns in the moment of writing.
The possible scenarios for the currency pair are the following:
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NEO/USD will reject the descending midterm trend line (green) and move towards the closest resistance area at 68. The currency pair will test it and if succeeded, will be able to develop its progress above the level.
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NEO price will fall below the trend line and enter the Ichimoku cloud. The next support area is 62 level.
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NEO/USD will stay close to the current level without significant fluctuations during the day.