- XRP/USD buyers have shown up to similar levels than in the last bullish ride
- BTC/USD still immerse in the cumulative lateral move started last week.
Anxiety reigning among crypto investors, looking for answers to the current situation
The last trading sessions have been testing the nerves of many traders that got into Cryptocurrencies during the first bearish steps and now are seeing how their positions are 30% down. We should not get frightened by the big ranges witnessed, as cryptos can have big moves in just a matter of hours. Cold-blooded traders with no fear will deal better with this kind of situation. Last week lows have not been breached in barely any major Cryptocurrency, with Monero being the one that is closer to the verge of breaking down. Let’s check our price projections for some of the main cryptos.
XMR/USD daily chart
Monero has lost the main directrix, but it is still soon to confirm a bearish breakdown, as today’s close might be crucial. If the bearish movement keeps going, our forecast is that the last hope for XMR bulls will be a lower trendline located around the $260 mark.
MACD is trading around a negative area, but not getting much separation from the equilibrium point
Directional Movement Index shows how buyers and sellers are moving around similar levels, both groups above ADX, which shows a strong fall in its trend. This is reinforcing the indecision situation, with XMR/USD in a key area.
XRP/USD 4H chart
Ripple 4-hour chart shows a totally different picture than Monero. XRP/USD is trading consistently above the trendline, even if that trendline is not completely out of the technical picture yet.
MACD is moving below the 0 mark, very flat. An increase of the volatility looks probable, and it would be the necessary previous step to the following directional movement.
Directional Movement Index shows equilibrium between buyers and sellers, both currently rising, but with not many divergences between both groups. This backs continuity in slim ranges and lateral movement.
Let’s check the XRP 1-hour chart to see if it clears up the technical picture a bit:
XRP/USD 1H chart
Ripple leaves very clear levels to look at in this chart:
XRP needs to trade above the $1.50 mark to get into a fully bullish scenario. Our price prediction is that if Ripple price breaks below $1.20, we should remain vigilant to close positions below $1. It’s difficult to close a position carrying heavy percentage losses, as it might happen with these Cryptocurrencies, but they are correlated with the big gains achieved during the previous rises.
LTC/USD daily chart
Litecoin still has room to trade lower until the main trend-line. We forecast as a clear buy zone the one around $145-$150. Below, we should close positions and wait for better price entry levels.
MACD is trading below the 0 mark, very flat. An increase of the volatility is probable if the indicator gets close to the main trend.
Directional Movement Index shows a small retracement in the buyers, with no increase in the sellers. D- is moving above ADX, so there is still room for bearish movements.
BTC/USD 1h chart
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In the Bitcoin 1-hour chart, MACD is crossed upwards, with space to move up to the 0 mark of the indicator. A BTC/USD resistance is spotted at $12300, while below $10150 we should consider a new bearish leg.
Directional Movement Index shows how buyers have been diminishing clearly, w
hile sellers have increased.
The technical picture in the Crypto sphere doesn’t look very correlated, so this is a time to be very selective in our trades. Don’t expect big block moves in the whole asset class.
Read more at:
https://www.fxstreet.com/analysis/top-4-crypto-price-predictions-xrp-btc-ltc-xmr-decorrelate-as-ripple-awaits-an-upward-movement-201801231057
