The yesterday's steep price hike has stagnated, and Bitcoin has also failed to regain its highs after the Bitcoin Gold range. While the generalized decline pushed back the major coins, the market capitalization of the segment dropped to $ 165 billion, with the Bitcoin slowdown being in the lead. The most valuable coin is now worth $ 8 billion less than its all – time record, as it has come close to the crucial support level of nearly $ 5,400 today.
The currency is holding above the key zone and bullish trend in the near term for now, but given the long-term over-activity, traders should not jump into new positions, despite a favorable configuration in the short term. While a recovery to new highs is still possible here, investors are waiting for a deeper correction before adding to their holdings. Support levels below $ 5,400 are $ 5,000 and $ 4,650.
BTC / USD, 4 Hour Chart Analysis
Sales for today have been moderate in all areas, with no notable performance among the altcoins. The previously weaker Ethereum Classic has not held up better than its more bullish counterparts, while Tuesday's top performers, IOTA and NEO, have remained well above their previous lows. Ethereum, Litecoin, Monero and Dash represent the overall market average, while Ripple remained more volatile after its recent violent decline. Let's look at the short-term charts in detail.
ETH / USD, graph analysis in 4 hours
Ethereum sank back to the middle of the long consolidation sequence near the $ 300 level today, while yesterday's rally fizzled, and the piece stays in a neutral position in the short term. The ETH token is still in a long-term uptrend, and we expect a move on the $ 330 to $ 350 zone in the coming weeks, but further consolidation is possible before the next major move. Support levels below $ 300 ar eat $ 285 and close to $ 250, while resistance is $ 380.
LTC / USD, Daily Graphical Analysis
Litecoin continues to hover around the $ 56 key level, still among the bullish altcoins, but far from the next major resistance level at $ 64. The trend towards short-term consolidation is clearly intact and one can expect that the upward price action will continue until the situation degenerates. Other levels of support are now found at $ 53, $ 51 and $ 44.
DASH / USD, 4 hour graphical analysis
Dash shows relative strength again today, even though a major break is far away, with the decreasing trend line of the dominant correction model found at $ 315. Although the long-term situation is clearly bullish and we expect a break in the coming weeks, strong resistance is also found around 300, 330 and 360 dollars, and higher prices are possible.
XRP / USD, graph analysis in 4 hours
XRP failed to provide a renewed short-term buying signal, as it remains well below the primary resistance, with solid levels of approximately $ 0.22 and close $ 0.26. That said, the long-term uptrend remains unchanged and investors could add current price levels to their positions. Support levels are near the $ 0.20 level and around $ 0.18 and $ 0.16.
ETC / USD, Graphical Analysis at 4 o'clock
Ethereum Classic has climbed below $ 10 during the liquidation of today, still showing relative weakness compared to other majors, and traders as investors should wait for bullish signs before to enter new positions. The short-term downtrend is clearly dominant, and strong resistance is expected at $ 11, $ 12.50 and especially around the $ 13.50 level, with long-term support at $ 9.
XMR / USD, graph analysis in 4 hours
Monero continues to show stability and relative strength, despite the decline of today, as it remains clearly within the narrow trading range that dominated the market since mid-September. The resistance of $ 100 and the support zone near $ 80 remain at the center of attention, and we still expect the uptrend to prevail, with additional resistance of $ 125 and over $ 150
NEO / USDT, graph analysis in 4 hours
NEO continues to oscillate around the $ 30 level despite the encouraging rally of yesterday, but it remains well above the $ 27 support and low volatility of today. hui is a positive sign for bulls. Additional support is found at $ 25, while target levels are up close to $ 34 and $ 40, with long-term setup still on the rise.
IOTA / USD, 4 Hour Chart Analysis
IOTA again failed on the dominant downtrend line and failed to provide a short-term buy signal despite rising support of $ 0.35. The long-term picture remains encouraging, but there should be a clear indication of the current trend for bullish confirmation, with target areas still ahead at $ 0.56 and $ 0.64.
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