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Crypto Conjecture For January 15, 2019

Bitcoin Price Analysis [BTC]

Daily Chart:
The price is currently consolidating above $3,600 and it could dip towards the $3,560 support.

BTC price analysis for Jan 15

Bitcoin has recently broken under a rising short-term trend line to signal that a trend reversal may be in place. The price has found support in the $ 3,600 area, however, and a pullback is occurring.
Recently, we saw a major downward move below $3,800 in bitcoin price against the US Dollar. The BTC/USD pair even broke the $3,560 support and the $3,400 pivot level. A low was formed at $3,376 and later the price started a decent recovery. It broke the $3,400 and $3,500 resistance levels to move into a positive zone. The upward move was convincing as the price settled above $3,560 and the 100 hourly simple moving average.
Finally, there was a break above the $3,649 swing high, opening the doors for more gains. Moreover, there was a break above a key bearish trend line with resistance at $3,560 on the hourly chart of the BTC/USD pair. The price tested the 1.236 Fib extension level of the drop from the $3,650 high to $3,376 low. A high was formed at $3,716 and the price is currently consolidating gains. Initial support is $3,640 and the 23.6% Fib retracement level of the recent wave from the $3,376 low to $3,716 high. The main support is near the previous resistance at $3,560. It coincides with the 50% Fib retracement level of the recent wave from the $3,376 low to $3,716 high.
Today’s upwards move after a volatile weekend seems to confirm that Bitcoin is in fact caught in a trading range between $3,550 and $4,200, as analysts previously expected.
Looking at the chart, bitcoin price recovered nicely above $3,560, but the price action seems to be a bit choppy. Therefore, there could be a few swing moves towards $3,560 before a fresh upward move.

Ethereum Price Analysis [ETH]

Daily Chart:

ETH price analysis for Jan 15

Yesterday, we saw a nasty decline below the $121 and $115 supports in ETH price against the US Dollar. The ETH/USD pair traded as low as $113.48 and started consolidating. Later, sellers slowly lost control, resulting in a bullish reaction above $115 and $118. The price rallied more than $15 and broke the $121 and $126 resistance levels. There was also a break above the 23.6% Fib retracement level of the last major decline from the $151 high to $113 low.
More importantly, yesterday’s highlighted important bearish trend line was breached at $121 on the hourly chart of ETH/USD. The pair settled above the $125 level and the 100 hourly simple moving average. It traded close to the 50% Fib retracement level of the last major decline from the $151 high to $113 low. At the moment, the price is consolidating gains above the $125 level and the 100 hourly SMA. Dips from the current levels remain supported near $125 and $124. The main support is now $121-122, below which the price might move back in a bearish zone.
Looking at this chart, ETH price is showing a few positive signs above $121 and $125. If it breaks the $130-132 zone, there could be more gains in the near term. The next stop could be $136, which is the 61.8% Fib retracement level of the last major decline.

Ripple Price Analysis [XRP]

Daily Chart:

XRP price analysis for Jan 15

Recently, we saw a major drop below the $0.3400 support in ripple price against the US Dollar. The XRP/USD pair even broke the $0.3360 and $0.3200 support levels. It traded close to the $0.3100 level and formed a low at $0.3112. Later, the price started consolidating losses with a bullish angle above $0.3200. Finally, sellers lost control, resulting in a sharp upward move above $0.3250. There was a break above the 23.6% Fib retracement level of the last major drop from the $0.3817 high to $0.3112 low.
More importantly, there was a break above a major bearish trend line with resistance at $0.3200 on the hourly chart of the XRP/USD pair. The pair settled above the $0.3280 level and the 100 hourly simple moving average. However, the price ran into a key resistance near $0.3360 (the previous support and range high). The price is currently consolidating above $0.3280 and the 100 hourly SMA. Buyers need to gain strength above $0.3360 and $0.3375 to push the price further higher. The next stop for them could be near $0.3460. It coincides with the 50% Fib retracement level of the last major drop from the $0.3817 high to $0.3112 low.

Looking at this chart, ripple price made a nice upward move above $0.3250 and $0.3280 levels. Having said that, a successful close above $0.3360 is needed for acceleration to $0.3400 and $0.3500.

Litecoin Price Analysis [LTC]

Daily Chart:
LTC/USD Medium-term Trend: Bearish
Resistance Levels: $40, $53, $68
Support Levels: $30, $27, $23

LTC price analysis for Jan 15

Yesterday, January 14, the price of Litecoin was in a bearish trend zone. The price of Litecoin fell to its low at $30.16 and the bulls commenced a bullish movement to the 12-day EMA and the 26-day EMA. The bulls were resisted by the 26-day EMA. Today, the crypto’s price is ranging at the price of $33 in the bearish trend zone. The crypto’s price is likely to fall if resisted by the 26-day EMA. Meanwhile, the stochastic is approaching the overbought region below the 80% range which indicates that the price of Litecoin is in a bullish momentum and a buy signal. The MACD line and the signal line are below the zero line which indicates a sell signal.

LTC/USD Short-term Trend: Bullish:

LTC bullish market trend

Last week, the 1-hour chart, the price of Litecoin was in a bullish trend zone. Yesterday, as the crypto’s price fell to its low at $ 30.53, the bulls made a bullish movement and broke above the 12-day EMA and the 26-day EMA.
Today, the price of Litecoin is ranging at a price of $33.15. The crypto’s price is likely to rise because it is in the bullish trend zone.
Meanwhile, the stochastic is of the overbought region but below the 60 % range which indicates that the crypto is in bearish momentum and a sell signal.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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OWLT Market Media Desk publishes press releases from individuals and companies related to the cryptocurrency-related market.

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