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(+) Technical Analysis: Bitcoin returns to $ 6,000 as Altcoins stabilize

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The cryptocurrency segment has recovered after the trough of yesterday, but the performances of the main coins have been asymmetrical once again. Bitcoin is clearly behind the wheel, as Bitcoin Gold, the product of the last fork, has lost market share and interest. The price of the most valuable coin has risen to the level of $ 6,000, just below its highest historical level, with an almost double-digit jump today.

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Despite the encouraging recovery, the play remains clearly overbought with regard to the long-term situation and investors should avoid opening new positions here, even if the upward trend in the short term is always intact. The currency rebounded above the convergence zone near the $ 5,400 level, while below that additional support stands at $ 5,000 and $ 4,650.

BTC / USD, 4 Hour Chart Analysis

With Bitcoin's domination just under the 58% mark, altcoins, in general, are little changed today, with only a few notable players. NEO is trading down about 3%, while Monero is also weaker than the average with a daily loss of 2%. The rest of the market is close to flattening the day and, given the recent negative correlation with BTC, price stability altcoin is a positive sign. Let's see the details of the short-term picture.

Ethereum

ETH / USD, graph analysis in 4 hours

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The Ethereum market has basically froze today, as the price of the token has moved in a very narrow range around the $ 300 level. The coin failed to reach the Bitcoin Rally and remained below the $ 315 level, the top of the long trading range. The ETH is still in a long-term uptrend, and a move towards the $ 330 to $ 350 zone is expected in the coming weeks. Support levels are $ 285 and close to $ 250, while resistance is $ 380.

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Litecoin

LTC / USD, Daily Graphical Analysis

Litecoin has drifted higher today, picking up the $ 56 key level in the process, but it is still well below the $ 64 key level, the next big resistance. The prevailing trend of short-term consolidation is still intact, and the long-term outlook remains bullish, and we expect the uptrend to resume soon. Support levels are now found at $ 56, $ 53 and $ 51.

Dash

DASH / USD, 4 hour graphical analysis

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Dash is among the weakest pieces today, and the coin is still stuck under the $ 300 key level, although today 's move is far from the point. be significant with regard to the long-term bullish image. While the room correction model remains intact, Dash is expected to resume the upward trend in the coming weeks. Resistance levels are near $ 300, $ 330 and $ 360, with key support at $ 265.

Ripple

XRP / USD, graph analysis in 4 hours

The established XRP lost $ 0.20 after recent violent movements, and remains in a downward trend in the near term. As the coin remains in a positive long-term configuration, investors could add to their positions here, but traders should wait until a new uptrend develops. Support levels are still near the current price level and around $ 0.18 and $ 0.16, while resistance is ahead in a broad area around $ 0.22 and above 0, $ 26.

Classical Ethereum

ETC / USD, Graphical Analysis at 4 o'clock

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Ethereum Classic remains below the short-term support at $ 11, and the coin is still the weakest in terms of long-term image. The quiet session of today has not changed the negative trend in the short term, but the currency has remained above the $ 10 level after reaching several numbers recently. Strong resistance is also expected at $ 12.50 and around the $ 13.50 level, with long-term support found at $ 9

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Monero

XMR / USD, graph analysis in 4 hours

Monero drifted lower after the encouraging rebound of yesterday, and it continues to trade with very low volatility, in a long range of trading. The $ 100 level could again be a priority in the coming period, as we do not expect a break below $ 80 before the next phase of the long-term uptrend. Above $ 100, resistance is $ 125, and close to $ 150 while additional support is $ 68

NEO

NEO / USDT, graph analysis in 4 hours

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The NEO trend was also weaker today, but the momentum of the movement was weak and the medal found support near the middle of the short-term trading range, far away the key level of $ 27. Additional support is found at $ 25, while resistance levels are up close to $ 30, $ 34 and $ 40. The long-term configuration remains encouraging and we expect the post-disaster recovery in China to continue after consolidation.

IOTA

IOTA / USD, 4 Hour Chart Analysis

IOTA shows relative weakness today after this week's strong rebound as the dominant downtrend is still intact. That said, the long-term picture is still encouraging, but traders should still wait with a sharp break above the downtrend before opening new positions. Support is still found at $ 0.35 while resistance is in the key area of ​​$ 0.45 to $ 0.48, and close to $ 0.56 and $ 0.64.

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