Litecoin price needs to cement its position

 Litecoin price experienced the second flash crash, which bottomed on September 21. While the descent was steep, the recovery seems to be coming along well. The recent upswing has pushed past a key resistance level, but LTC needs to hold above it to confirm buyers’ presence.

Litecoin's price climbed 15% after forming a potential bottom at $145.40. This ascent pushed LTC past the resistance level at $160.86. While this upswing is impressive, the buyers need to hold above this barrier to confirm a successful flip.

Doing so will indicate that the bullish momentum is strong and trigger a second leg-up, pushing Litecoin's price up to the immediate supply barrier at $178.39.

LTC witnessed consolidation around this level after the first flash crash occurred on September 7. Therefore, it will be difficult for the buyers to push LTC past this level.

However, investors can expect Litecoin's price to at least wick to the next barrier at $189, constituting a 17% ascent.

While a retest of $160.86 is crucial for the bullish outlook to persist, sometimes the sellers might temporarily knock LTC down below it. 

Although this might be bearish, a quick recovery will undo the pessimism and put LTC back on track. 

On the other hand, if Litecoin's price fails to recover and tumbles down to the $145.40 support floor, it will indicate the presence of weak buying pressure. A breakdown below this demand barrier will invalidate the bullish thesis.

Uniswap price faced a blockade at $21.51, slowing its recovery

ETH struggles to find direction

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Uniswap price faced a blockade at $21.51, slowing its recovery

 Uniswap price looks to be consolidating after encountering a stiff resistance barrier on its road to recovery. While this slowdown is unappealing, it is not untenable. Investors can expect this consolidation to resolve in favor of the bulls. 

Such a development will likely push UNI to shatter a few blockades along the way,

Uniswap price crashed 31% since September 16 and formed a temporary bottom around $18.37. UNI rallied roughly 20% as the crypto markets recovered but is currently stuck below a resistance barrier at $21.51. 

This consolidation hints that a volatile move is around the corner, but the Relative Strength Index (RSI) suggests that it will be a bull rally.

Uniswap price set up lower lows on September 8 and September 21 on a 6-hour chart. However, the RSI created higher lows on the exact dates, flashing a bullish divergence.

This technical formation indicates that Uniswap price is due for a move higher. Moreover, the result of the consolidation is likely to add extra oomph to the upswing, pushing UNI to slice through the immediate barriers at $21.51, $23.78, and making a run at $25.38.

This run-up would be a 20% advance from the current position.

While $25.38 is a formidable blockade, clearing it might allow Uniswap price to venture higher.

Although things are looking up for Uniswap price, a failure to breach past the $21.51 barrier will indicate a lack of follow-up from the buyers. Such a development might result in a downswing to $18.37, where Uniswap price could form a double-bottom and give the uptrend another go.

However, a decisive close below this barrier and a failure to quickly recover above it will confirm the creation of a lower low, invalidating the bullish thesis. In such a situation, UNI will likely retrace 10% to tag the $16.47 support floor.

ETH struggles to find direction

Ripple XRP price awaits a Golden Cross

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ETH struggles to find direction

 Ethereum price action is very constricted during today’s trading. A primary reason for this consolidation goes beyond the volatility of yesterday’s trading. There is a very tight $100 range above and below the $3,400 value area where Ethereum has a near equal opportunity to surge higher or plummet lower.

Ethereum bulls have several technical factors favoring a resumption of the prior uptrend - the most important is the Chikou Span remaining above the candlesticks. The Relative Strenght Index is parked right on top of the first oversold condition in a bull market (50). The Composite Index has an almost imperceptible hidden bullish divergence level. To fulfill an apparent resumption of the move higher and move to new all-time highs, bulls need to push Ethereum’s price to a close above $3,530.

There will be a likely test of new all-time highs if bulls break the near-term resistance, setting up for a test of $5,000 and even higher. 

Bears need to push Ethereum below $3,400. There is a significant volume trough in the Volume Profile between $3,400 and $3,000. The most important technical indicator that will display a clear likelihood of lower prices is the Chikou Span closing below the candlesticks, which is right on the $3,000 Ethereum price level.

Unless something dramatic happens near the end of the trading day, Ethereum looks poised to maintain a very constricted trading pattern. If the current daily high ($3,540.10) and low ($3,218.20) remain, then tomorrow’s trading setups will be established according to the inside bar formed today. Bulls will have a very bullish entry above today’s high, but bears will need to target an entry below the Tuesday low ($3,026.00)

Ethereum bulls will find primary resistance at $3,900, while Ethereum bears will find strong support against the top of the Cloud (Senkou Span A) at $2,288.

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Ripple XRP price awaits a Golden Cross

 XRP price has exploded higher since closing above the noteworthy resistance level associated with the 200-day SMA on August 7, logging a 65% price gain last week and breaking the resistance aligned with the psychologically important $1.00 and the 38.2% retracement level of the April-July cyclical Ripple correction at $1.06.

This week XRP price has opted for consolidation, pulling back around 20% and successfully testing the $1.00-$1.06 level with a robust three-day rebound. The rebound repositioned Ripple XRP at the 50% retracement of the April-July price correction and removed the excess overbought condition daily RSI.

Moving forward, XRP is poised to continue the new rally with some possible resistance level at the 61.8% retracement at $1.40 before encountering heavy push-back at the 78.6% retracement level, which is reinforced by a series of highs printed in the first half of May. It represents close to a 30% return from the current XRP price.

Additionally, Ripple price will be featuring a bullish Golden Cross on the daily chart within the next week if the upside XRP price momentum continues.

A renewal of the Ripple XRP price pullback needs to hold the $1.00-$1.06 range on a daily closing basis. If not, Ripple will endure a 15% fall to the 200-day SMA at a price of $0.84, thereby dimming the bullish aspirations of not only a break of the April high at a price of $1.96 but also the all-time high of $3.30 recorded in January 2018.

The crypto majors continue to flex a bullish posture, discovering support levels at the crucial support prices while showing no distribution on down days. It is consistent with a strong crypto market and creates the energy for new rally highs and all-time highs for Bitcoin and Ethereum. 

Here, analysts evaluate where Ripple XRP could be heading next as it seems primed for a pullback before higher highs.

Ethereum Triple Halving paper has a bullish outlook

Bitcoin holds support, next resistance at $50K

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Ethereum Triple Halving paper has a bullish outlook

 The top two addresses with the highest Ethereum ETH balances on Etherscan are the ETH2 staking contract with over 7 million ETH and wrapped Ether with 6.7 million ETH. The surge in staked Ethereum ETH is driving altcoin's dominance in the crypto market higher. 

Currently, Ethereum's price is trading at $3269, and its dominance is at 17.9%. A direct correlation has emerged between Ethereum's price and dominance. With the price increase, the altcoin's dominance has increased consistently over the last five months.

Alongside Ethereum, the volume of wrapped Ethereum used to pay for gas fees for contracts executed on the network has noted a steady rise. wrapped Ether now accounts for nearly 6.7 million Ether, supporting the increase in the second-largest cryptocurrency's market dominance. 

One of the key indicators of a bull run, the movement of dormant ETH, was recorded earlier today by Santiment data. Ethereum's mean Dollar invested age curve represents the average age of the Ethereum ETH moving on the blockchain network, and it has significantly flattened. 

The movement of Ethereum price that was held for a long time indicates the second leg of the altcoin's price rally. 

Independent Ethereum analyst and author of "Ethereum, The Triple Halving," Nikhil Shamapant, remains bullish on the altcoin. In a recent interview with Divya Narendra, CEO, and co-founder of SumZero, Nikhil Shamapant set a new price target for Ethereum at a price of $150,000. 

Shamapant explains how Ethereum staked in the ETH2 contract reduces the total number of ETH in circulation and drives the price higher through an enforced shortage. 

One thing I've been really trying to pound the table on is that staked ETH it's like economically enforced holding right. It's always going to be staked; there's going to be a circulating supply of staked ETH, separately there's going to be a circulating supply of unstaked ETH. There's no fear or cultural change that's going to cause these hodlers to suddenly sell.

looking at the market capitalization and dominance of Ethereum, there have been four consecutive up weeks. Any close below $2900 would be a bearish development; on the upside, $3587 is the level to watch out for a bullish breakout.

Bitcoin holds support, next resistance at $50K

Polkadot price needs to find stable grounds

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Bitcoin holds support, next resistance at $50K

 Bitcoin rallied above $45,000 as upside momentum improved over the past two weeks. The next level of resistance is seen at a price of $50,000, which could limit further upside given short-term overbought signals. Bitcoin price is up about 2% over the past 24 hours – around $45,600 at press time and holding support above $40,000.

The relative strength index on the daily chart is overbought for the second time since July 31, which preceded a near 10% price decline.

However, the weekly RSI is rising from neutral levels with a positive price momentum signal for the first time since October 2020, which reignited the long-term uptrend.

Buyers could remain active on pullbacks this week as bitcoin BTC cleared important technical levels such as the 100-day moving average.

As per Elliott Wave analysis, the BTCUSD pair is making a bigger recovery, but we still see it as part of an (A)-(B)-(C) flat price correction within higher degree wave B, where wave (C) could have completed five-wave cycle.

So, keep an eye on the projected resistance level here in the 45k-47k, where bears for higher degree wave C may show up again.

Polkadot price needs to find stable grounds

Ethereum Classic price at wit’s end

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Polkadot price needs to find stable grounds

 Polkadot's price rallied roughly 110% between July 20 and August 8. After piercing the supply zone ranging from $19.14 to $20.61 level, and setting up a swing high at the price of $21.72, DOT has dropped 13%.

This descent has pushed Polkadot price below the said area of resistance level, which is a bearish sign. While the downswing was evident after such a massive price uptrend, investors can expect it to extend lower, especially since the Momentum Reversal Indicator has flashed a sell signal in the form of a red ‘one’ candlestick pattern on the 12-hour chart. This setup often forecasts a one-to-four candlestick correction.

The immediate support level at the price of $18.34 is the first level sellers will encounter. Breaching $18.34 will push the DOT price down to $17.01, roughly 12% from the current position, $19.34.

Although it is unsure if the sell-off will continue after the $17.01 level if the recent upswing was a shift in the narrative to bullish, investors can expect an upswing to originate here.

Regardless of the selling pressure, if the buyers make a comeback pushing Polkadot price above the supply zone’s upper limit at a price of $19.14, it will indicate that an upswing is likely to survive.

A confirmation of the price bullish outlook will arrive after the DOT price produces a bounce off the $19.14 barrier. If this were to occur, market participants could expect a 15% ascent to $23.666.

Ethereum Classic price at wit’s end

Ethereum Classic price may be starting its engines

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Ethereum Classic price at wit’s end

 Ethereum Classic ETC price is trying to slice through a critical resistance barrier level for the third time in the past month. A successful breach might lead to a minor price upswing, but a pullback seems inevitable for ETC considering the recent run-up.

Ethereum Classic's price has rallied roughly 48% between July 20 and August 7 but failed to slice through the price of $55.79 resistance level. The current attempt is the third try over the past month. Even if the price bulls are successful in breaching this ceiling, the upside seems to be limited to $62.05. Therefore, investors can expect a retracement after a rejection at a price of $62.05 or the resistance levels before it.

If such a move were to occur, ETC price might find support around the $51.48 support level and, in a highly bearish case, $46.52.

Although the upside for Ethereum Classic ETC price seems to be capped, a decisive 9-hour candlestick close above $62.05 will indicate that the price bulls are not done. A successful flip of this level into a support barrier will invalidate the bearish outlook.

Furthermore, this development could potentially attract sidelined investors to jump on the bandwagon, increasing the buying pressure. If such a thing were to occur, ETC market participants could expect the newfound bullish momentum to catapult ETC to $70.23, roughly 28% from the current position.

Ethereum Classic price may be starting its engines

Ethereum price roars back with more upside

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Ethereum Classic price may be starting its engines

 Ethereum Classic ETC price shows a gain of over 17% for the week but still carries a loss of 14.7% for the month. If the current breakout above the 2018 high of $46.98 sticks, the ETC price faces only the 50-day SMA on a path to the upper line of the descending parallel channel. For now, the outlook remains neutral until the Ethereum Classic ETC price can close above $46.98.

Today, Ethereum Classic ETC price is attempting to knock out two resistance levels, the 2018 high at $46.98 and the 50-day SMA at $50.10, but the effort is fading as today progresses. The ETC move is supported by above-average trade volume, unlike the previous three days of the new rally. 

The magnitude of the new ETC price rally originating on July 21 is 23%, putting it well below the four-day burst in late June of 44% and the 43% gain at the end of May, thereby questioning the impulsiveness of the current price rebound and Ethereum Classic price sustainability.

A successful close above the 2018 high and 50-day SMA today would release Ethereum Classic price to test the upper line of the descending parallel channel at a price of $56.30, followed by the June 30 high of $62.45. There is no further resistance level until the grouping of the 38.20% Fibonacci retracement level of the May-June correction at $80.75 and the May 26 high of $84.09, presenting an intriguing 68% gain for ETC investors.

If Ethereum Classic's price fails to hold $46.98 today, it invites a retracement level of the rally to the midline of the descending parallel channel at a price of $38.19, the beginning of the rebound. A daily close below the midline would imply lower prices, but the sustainability of the drop may be short-lived as the ETC price has only closed one week below the channel since the May plunge.

Additional support level lies at the near convergence of the 200-day SMA at $35.05 with the 2020 ascending trend line at $33.33 and reinforced by the June 22 low of $32.53 level. Any further weakness will attract support at the lower line of the descending parallel channel at a price of $26.10, generating a loss of 32% from the channel’s midline.  

Ethereum Classic price is in a better technical position than many of the cryptocurrencies. It is trading well above the 50-week SMA and the 200-day SMA, two strategically important moving averages. Moreover, ETC price is not negatively influenced by a bearish Death Cross pattern, when the 50-day SMA crosses below the 200-day SMA, or the resistance support attributed to the June 22 low.

Trading today suggests that  Ethereum Classic ETC's price has started its engine, but only a close above $46.98 will restore bullish forecasts and energize ETC to pursue a rally to the 38.2% retracement.

Ethereum price roars back with more upside

Ripple XRP price is already out of breath

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Ethereum price roars back with more upside

 Ethereum ETH price completed the fade-in trade a couple of days ago. The low from June 26 offered the best entry-level at a price of $1,688.39. ETH recovered nicely and bounced off the S1 weekly support level at a price of $1,755 to fully break the descending trend line and remove the horizontal resistance at a price of $1,928.89. This critical level has already been spoken about as if ETH wants more profit days to come.

Price action today in Ethereum price is even above the weekly pivot. It will be necessary now to see that ETH's price can withstand any selling pressure from short-term buyers looking to make a quick buck. A daily close above the $1,969.68 level is therefore vital if this rally does not want to be short-lived.

Further to the upside, the next profit level to look at will be the 200-day Simple Moving Average that is coming in around $2,092. Just above there, Ethereum ETH price has the weekly R1 resistance level at a price of $2,104.91. This makes it two significant levels to be aware of.

Ethereum ETH price will have its work cut out for it with this level if it wants to keep rallying higher.

On the upside, it will be necessary for Ethereum ETH price if today it can close above $1,928 and the weekly pivot. Any further price upside after that will depend on buyers who want to get another piece of the pie and jump in for more. 

Sellers will undoubtedly look for that double top with the 200-day SMA and the weekly R1 resistance level just above to build back some short positions. It will depend on whether the favorable tailwind remains present in global markets.

Ripple XRP price is already out of breath

SafeMoon price embarks on an uphill battle

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