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Author Topic: Cryptocurrency Analysis from FXOpen broker  (Read 9809 times)

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Offline FXOpenTopic starter

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Re: Cryptocurrency Analysis from FXOpen broker
« Reply #30 on: June 28, 2018, 09:38:56 AM »
Ether is sitting on the important important around 0.07 BTC per coin. Meanwhile Dash is making new yearly lows and is quoted at 0.03693 BTC at the moment.
Ether Sits on Support
After falling by almost 10 percent since last Thursday, Ether is back at the important support of 0.07 BTC. Yesterday we briefly dipped below this important level and traded as low as 0.06961 BTC. But as we frequently point out here we are looking for a decisive break of a level, not just a quick and shallow spike below it. There are lot of games being played around important levels like 0.07 BTC so you shouldn’t jump the gun too quickly.


Ether is quoted at 0.07107 BTC right now. A decisive breakdown below 0.06961 BTC is needed to finally start the downtrend on the daily charts. For now the pair remains in a range. Support below here can be found at 0.06606 BTC followed by the former swing high at 0.05906 BTC.
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Offline FXOpenTopic starter

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Re: Cryptocurrency Analysis from FXOpen broker
« Reply #31 on: July 06, 2018, 02:19:38 PM »
ETHER LITTLE CHANGED, DASH DOWN

Both Ether and Dash are trading little changed versus bitcoin. Ether is up by 0.11% while Dash is lower by 0.84 percent since last Thursday. Not large moves by any means and especially not for the crypto market which tends to be more volatile than traditional markets.

Ether Little Changed

Ether is quoted little changed vs BTC. The altcoin had a short and uneventful trip below the 0.07 BTC figure on June 30th only to bounce back quickly. We are quoted at 0.07115 BTC right now, not far from where wewere trading at on June 28th.




Ether is still in range on the daily charts, we remain in ‘wait and

see’ mode here. The shallow break below the previous lows doesn’t count as a trend changer.

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Offline FXOpenTopic starter

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Re: Cryptocurrency Analysis from FXOpen broker
« Reply #32 on: July 12, 2018, 12:38:55 PM »
Ether Teeters on Support


Ether is quoted at 0.06946 BTC right now, desperately trying to climb back above the 0.07 BTC figure. Two days ago a new multi-week low of 0.06734 BTC was hit but as you can see on the chart below we bounced back quickly from here. While the support is now technically broken, we can’t call for a downtrend yet. For that to happen we need to see a decisive breakdown of a level not just a quick and shallow break.





A break of 0.06734 BTC is now needed for a new downtrend. Weak support below here can be found at 0.06606 BTC followed by the former swing high at 0.05906 BTC. On the upper end, we need to see a break above 0.08015 BTC for a new rally. Higher up there’s resistance at 0.08542 BTC followed by the 0.08829 swing high. Higher still we have the 0.09 and 0.1 BTC round figures as potential resistance levels. A breakout above may open to door to this year’s high at 0.121 BTC. On the weekly charts ETH/BTC is also range-bound. The monthlies are still looking bullish.


Read about DSH/BTC on FXOpen blog

Offline CybereyesWinger

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Re: Cryptocurrency Analysis from FXOpen broker
« Reply #33 on: July 19, 2018, 09:27:43 AM »
Both Peercoin and Namecoin broke out during this week. The two cryptocurrencies tested their multi-year highs yesterday but have since fallen back a bit.
Peercoin Starts New Rally
With the break above $2.30 PPC/USD is now back in a new uptrend. Yesterday a high of $2.621 was hit on FXOpen, almost matching this year’s high at $2.62 dollars per coin.
We have since retraced down to the $2.30 area which is where we find PPC at the moment. By the old trading ‘adage’ that says resistance becomes support, we may encounter some buying pressure around here. Further down more support can be found at the $2 round figure followed by the $1.70 swing low. A breakdown below here would end the current rally. A new downtrend needs a move below the $1.60 level as well.
Higher up the major resistance is the double top around $2.62 dollars. A clean breakout above here could extend the gains. On the longer-term charts, both weekly and monthly, PPC/USD is in bullish mode.


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Offline FXOpenTopic starter

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Re: Cryptocurrency Analysis from FXOpen broker
« Reply #34 on: September 14, 2018, 09:29:16 AM »
Ether Hits New 2018 Lows

On Wednesday ETH/BTC hit a new 2018 low at 0.02620 BTC. The represents a loss of 48% from the 0.05052 BTC price recorded only one month ago. In USD terms ETH hit a low of $167 dollars on September 12th before bouncing. We are currently quoted at 0.03138 BTC, around 20 percent off the lows.



While the downtrend is still in play on the daily charts, we already had some severe losses. Add to that the fact that the trend is now over 2 months old, it’s probably too late to jump in at this stage. Shorts should pay attention to the area around 0.03873 BTC. A breakout above here could finally end the bear. A new rally however requires a breakout above the 0.04171 BTC swing high. More resistance higher up can be found at the 0.04843 BTC swing high and the 0.05 round figure.

On the lower end there’s weak support at the most recent swing low of 0.02620 BTC, followed by the December 2017 lows at 0.02287 BTC. The 0.02 round figure could also act as temporary support. On the longer-term charts ETH/BTC is bearish on the weekly and range-bound on the monthly charts.

Read also DSH/BTC on FXOpen blog.

Offline FXOpenTopic starter

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Re: Cryptocurrency Analysis from FXOpen broker
« Reply #35 on: March 07, 2019, 02:00:15 PM »
LTC/USD

From Monday when the price of Litecoin was around $46 at the open, measured to its highest point at $58.63, we have seen an increase of 27.52%.



Looking at the hourly chart, you can see that the price has entered the resistance zone once more and has managed to come up to its upper level, even going slightly above it. But since the resistance there was strong the price has started struggling to keep up its bullish momentum.

Previously as we have seen an impulsive move to the upside, which was the Y wave for the WXY correction, I don’t believe that this is the start of a new one. Most likely we are seeing a retest of the previous support for the resistance. Now this happened and I would be expecting a retracement as the price of Litecoin increased by 146.56% from 15th of December when it was around $24.

We might see another attempt for a breakout to the upside, but I wouldn’t expect it to continue for much longer as it will most likely end as a fakeout. According to my count, we have seen the end of the three-wave correction to the upside, so now either a trend continuation should occur or further prolongation of the mentioned correction in a form of the second wave X.

Read also EOS/USD outlook on FXOpen blog.

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Re: Cryptocurrency Analysis from FXOpen broker
« Reply #36 on: April 04, 2019, 12:40:47 PM »
LTC/USD

From last Thursday when the price of Litecoin was sitting around $62.44 until April 2nd, the price was decreasing steadily as it has depreciated by 2.23%, coming to $61. As the price started increasing since Tuesday’s low, strong momentum was shown making the price to increase by 62.68% measured to the highest point the price has been yesterday at $99.231.



Looking at the hourly chart, we can see that the price of Litecoin increased parabolically and has come up in a five-wave manner, which in combination with the amount of the increase indicates clear impulsiveness. Now that the price ended its impulsive increase we have seen a corrective decrease of over 18% if we measure to the lowest point the price has been today at $78.155, but the hourly candle closed above the $84.7 leaving a large wick on the hourly chart.

Read more on FXOpen blog.

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Re: Cryptocurrency Analysis from FXOpen broker
« Reply #37 on: April 18, 2019, 02:39:03 PM »

LTC/USD


From yesterday when Litecoin was at $81.894 the price hasn’t changed much as its currently being traded at around $81.





On the hourly chart, you can see that the price of Litecoin has been moving sideways from the 12th of April when a decrease with strong momentum has been made. As the price previously ended its impulsive move to the upside, a correction started developing out of which we have seen three waves. This means that I could have ended with the current structure being a consolidative range before finally the next move to the upside would start.


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