Cardano, Neo Lead, BTC, BCH in Green, Zcash Losing Positions

Crypto traders seem to be optimistic in the beginning of a new week as the majority top 20 coins is within the green area on Monday except Zcash, which loses momentum currently. Fundamental background is neutral as there is no important news, which is able to increase volatility or establish any tendency.

BTC/USD

The currency pair took off the red local descending trend line on Friday and went upwards. Bitcoin has broken through the Ichimoku cloud and managed to move even higher. We have drawn a green ascending trend line which support the uptrend currently. BTC/USD has double tested the resistance area at $8,526 but still fluctuates below this level. BTC price is far from the Ichimoku cloud meaning bulls are controlling the market. Bitcoin added 2.49 percent in the past 24 hours.

The possible scenarios for the currency pair are the following:

1. BTC/USD will test the resistance area at $8,526 again and if successful, bulls will drive the currency pair even higher above this level. The next resistance area lies at $8,715 area.

2. Bitcoin will decline towards the green ascending trend line. If bears are successful, BTC/USD will develop its downside progress towards the support area at $8,369. Otherwise, BTC price will jump off this trend line and move towards the resistance area at $8,526.

3. The currency pair will stay here, fluctuating around the current resistance area at $8,526.

As for the daily timeframe, BTC/USD jumps into the Ichimoku cloud again meaning the situation remains unclear. Nor bulls neither bears are ready to take control over the market.

LTC/USD

Litecoin has added its modest 0.77 percent in the past 24 hours. However, as for the situation in general, LTC/USD seems to be more optimistic than on Friday as LTC price is above the red descending trend line and moves along the green ascending trend line. Currently, LTC/USD tests this line and has an opportunity to move below it towards the Ichimoku cloud.

The possible scenarios for LTC/USD are the following:

1. Litecoin will develop its downside progress and reach the Ichimoku cloud. LTC price will likely break it through as the indicator is thin here. LTC/USD will reach the next support area at $134.36 in this case and will test this level.

2. The currency pair will return above the green ascending trend line and go even higher towards the closest resistance area at $138,35 to test it.

3. Litecoin will stay here without significant changes.

The currency pair is below the Ichimoku cloud on the daily timeframe. However, LTC price tests the lower border of the indicator. Nor bulls neither bears are in control over the market currently.

ETH/USD

Ethereum follows the other allies as the price moves along the green ascending trend line. The cryptocurrency has added 0.61 percent in the past 24 hours. ETH/USD jumped off the red descending trend line on Friday and shows bullish moods since. The currency pair is far above the Ichimoku cloud meaning buyers are controlling the market.

The possible scenarios for the currency pair are the following:

1. EHT/USD will develop its local downside tendency towards the higher border of the Ichimoku cloud to test it. Bears will have an opportunity to test the closest support area at $696.07 if successful.

2. Ethereum will reverse and jump over the green ascending trend line on the Hourly chart. Buyers will drive the currency pair even higher towards the closest resistance area at $731.22 in this case.

3. There will be no significant changes and the currency pair will stay close to the current levels.

As for the daily chart, there are no significant events to discuss here. However, ETH price remains above the Ichimoku cloud meaning buyers are dominating the market.

XRP/USD

Ripple has added nearly two percent in the past 24 hours and seems to be optimistic in the beginning of a new week XRP/USD jumped over the red descending trend line on Friday and started to move along a new ascending trend line aspiring to develop an upside tendency. XRP price is far above the Ichimoku cloud meaning buyers are controlling the market.

The possible scenarios for XRP/USD are the following:

1. The currency pair will break through the green ascending trend line and move towards the higher border of the Ichimoku cloud. Once bears are successful in crossing it, they will be given a chance to develop their progress targeting the closest support area at $0.6631.

2. XRP/USD will jump off the green ascending trend line and go higher. The closest resistance area is close to the price’s current position and it will likely be crossed with no difficulties. The next target will be at the next resistance area at $0.7094.

3. Ripple will stay close to the current levels with no significant changes.

As for the daily chart, XRP/USD goes under the Ichimoku cloud, but there is no clear med term tendency currently.

ZEC/USD

The currency pair is the “loser” of the day as Zcash has lost nearly two percent in the past 24 hours. In general, it is still fluctuating with no clear direction as ZEC price has left the Ichimoku cloud but has no momentum. Zcash is in the middle of two levels. ZEC/USD is above the support area at $325.81 and below the resistance area at $366.65.

The possible scenarios for the currency pair are the following:

1. ZEC/USD will develop its downside progress and move towards the closest support area at $325.81 to test it.

2. Zcash will reverse and move towards the closest resistance area at $366.65. However, there is n obstacle on the way as we have an Ichimoku cloud above the price. Buyers will have to cross it first before they will be able to reach the closest resistance area.

3. ZEC price will remain unchanged with no significant volatility.

As for the daily chart, Zcash moves along the green ascending trend line and is above it. The currency pair is in the uptrend currently but seems to develop a correction.

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ADA/USD

The currency pair is one of two today’s leaders as it added nearly six percent in the past 24 hours. Cardano seems to feel good as ADA price moves along the green ascending trend line. However, currently, it is in correction. ADA/USD has crossed the support area at $0.2523 and currently loses its positions. Cardano price is still above the Ichimoku cloud meaning buyers are controlling the market.

Possible scenarios for Cardano are the following:

1. ADA/USD will develop its decline towards the green ascending trend line and test it. Sellers will have the opportunity to push Cardano even lower if successful. The closest support area is at $0.2387.

2. The currency pair will try to test the closest resistance area at $0.2523. Buyers will have an opportunity to drive Cardano even higher if successful.

3. ADA/USD will stay close to the current level without significant price changes.

The currency pair seems to have no clear direction currently. It moves along the higher border of the Ichimoku cloud on the hourly chart.

NEO/USD

NEO has crossed the midterm descending trend line on the Hourly chart. The currency pair shows intentions to move even higher. We have drawn an ascending trend line as the currency pair seems to change its direction. NEO price is above the support area at $62.29 currently. NEO is far from the Ichimoku cloud meaning buyers are controlling the market.

The possible scenarios for NEO/USD are the following:

1. The currency pair will jump off the current support area at $62.29 and move higher targeting the closest resistance area at $68.38.

2. NEO/USD will cross the support area at $62.29 and move lower towards the green ascending trend line to test it. Seller will be able to push NEO even lower if successful.

3. There will be no significant changes in price.

NEO/USD has left the Ichimoku cloud on the daily chart, but there is no momentum. NEO price tries to return to the lower border of the indicator. There is no clear tendency in the moment of writing.

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