Litecoin (LTC/USD) extended recent buying pressure early in today’s Asian session as the pair continued to orbit the 42.00 figure after trading as high as the 42.46 area during yesterday’s Asian session. The pair has recently traded around the 50-bar MA (4-hourly), and recently tested the 100-bar MA (4-hourly) about three times before declining back below. The 36.81 level was a major downside price target related to the August high of 107.12 and the markets recently absorbed this level when they pushed the pair as low as the 35.88 area. Since then, the markets moved higher to the 42.69 area before coming off and testing the 39.36 area, just above the 39.29 level that represents the 50% retracement of the move from 35.88 to 42.69.
The market has recently hugged the 40.09 area tightly, a level that represents the 38.2% retracement of this same range. During the market’s recent short-lived move higher, it stopped short of testing the 43.01 area, a downside price objective that is related to the early November high of 66.19 and subsequent test of the 66.72 area. Another very important level is the 38.95 area, a downside price objective that is related to the same early November high of 66.19 and late-November test of 49.36. Below current market activity, traders expect some Bids around the 38.48 and 37.49 levels.
Price activity is nearest the 50-bar MA (4-hourly) at 40.60 and the 50-bar MA (Hourly) at 40.76.
Technical Support is expected around 39.21/ 38.33/ 35.88 with Stops expected below.
Technical Resistance is expected around 42.69/ 44.04/ 47.22 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.
Bitcoin Cash (BCH/USD) extended its recent upward pressure early in today’s Asian session as traders attempted to keep the pair above the psychologically-important 200.00 figure. BTC/USD Bulls pushed the pair as high as the 209.70 area during yesterday’s Asian session before some short-term profit-taking arose. This level is technically relevant because it was just above the 208.73 level, a downside price objective related to the early-November high of 308.21. The pair’s recent trading activity below the 200.00 figure has been closely scrutinised by traders. The 188.16 level is a very important technical level that is related to the early October high of 308.21 and subsequent test of the 248.22 level.
When this level was breached this month the pair faded to the 170.03 area, its weakest print since early April 2019 when the pair rapidly moved above the 200.00 figure. The pair recently found technical Support around the 183.48 level, right around the 23.6% retracement of the move from 227.04 to 170.03. This area was just below the 184.11 level that represents the 50% retracement of the move from 170.03 to 198.25. Below current market activity, traders anticipate some buying pressure around the 180.79 and 176.68 levels. Above current market activity, traders expect some selling pressure around the 211.11 level, with additional Offers anticipated around the 213.59 level.
Price activity is nearest the 50-bar MA (4-hourly) at 188.81 and the 100-bar MA (Hourly) at 190.01.
Technical Support is expected around 178.13/ 170.03/ 164.19 with Stops expected below.
Technical Resistance is expected around 213.20/ 218.35/ 223.80 with Stops expected above.
On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
from Crypto Daily™ https://cryptodaily.co.uk/2019/12/sally-ho-technical-analysis-29-december-2019-ltc-bch
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