Litecoin (LTC/USD) gained marginal ground early in today’s Asian session as the pair climbed higher to the 50.02 area during yesterday’s session after finding technical support around the 48.85 area during yesterday’s North American session. Despite the pair’s early gains, LTC/USD has drifted lower from a recent high around the 52.03 area over the weekend. The pair’s recent gains have pushed the pair above the psychologically-important 50.00 figure for the first time since 22 November. In mid-December, the pair reached a recent relative low around the 35.88 area and buying pressure lifted the pair back above the 50.00 area over the past several days.
Notably, this recent relative high was above the 51.04 area, representing the 50% retracement of the 66.19 – 35.88 range. The next downside levels in that range include the 47.46 and 43.03 levels. Likewise, the recent relative high was just below the 52.83 area, representing the 38.2% retracement of the 80.26 – 35.88 range, and also around the 52.67 level that represents the 23.6% retracement of the 107.04 – 35.88 range. During retracements lower, traders will pay close attention to levels including the 48.22, 45.86, 43.96, 42.05, and 39.69 levels. Upside price objectives include the 52.46, 53.77, 56.70, and 57.32 areas. Some Stops are likely in place above the 56.70 and 63.06 levels.
Price activity is nearest the 50-bar MA (4-hourly) at 47.21 and the 50-bar MA (Hourly) at 50.19.
Technical Support is expected around 48.67/ 47.70/ 45.81 with Stops expected below.
Technical Resistance is expected around 51.63/ 53.07/ 55.35 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.
Bitcoin Cash (BCH/USD) appreciated early in today’s Asian session as the pair was lifted to the 268.96 area after finding support around the 260.78 area during yesterday’s North American session. The pair rallied higher to the 279.56 area over the weekend, a multi-week high, before coming off over the past couple of days. The pair’s recent strength has propelled it above the psychologically-important 250.00 figure for the first time since mid-November. The 277.58 level was an upside price objective related to the pair’s recent surge higher from the 191.48 area, and traders elected Stops above this area during the past few days. Above that area, traders looking at additional upside price objectives including the 283.00, 293.26, 297.90, and 311.27 areas. Additional Stops are likely in place above the 293.26 and 311.27 levels.
One measure of the pair’s recent price activity and upside progress includes its movements relative to some key levels. These include the 275.60 area that represents the 76.4% retracement of the move from 308.21 to 170.03, and the 271.32 area that represents the 61.8% retracement of the move from 333.93 to 170.03. Likewise, the market was unable to test the 286.55 area, representing the 61.8% retracement of the depreciation from 358.58 to 170.03, and traders are looking to see how BCH/USD trades around the 264.31 area, representing the 50% retracement of the range. Below current market activity, traders are eyeing technical support around the 255.43 and 251.98 areas.
Price activity is nearest the 50-bar MA (4-hourly) at 249.58 and the 50-bar MA (Hourly) at 264.87.
Technical Support is expected around 261.14/ 254.38/ 251.38 with Stops expected below.
Technical Resistance is expected around 279.56/ 283.00/ 293.26 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 Bullishly above MACDAverage.
from Crypto Daily™ https://cryptodaily.co.uk/2020/01/sally-ho-technical-analysis-14-january-2020-ltc-bch-litecoin-bitcoin-cash
0 Comments