Cryptocurrency Daily Price Analysis: Ripple, Bitcoin, Litecoin, Ethereum – August 11
Ethereum is exchanged at the pinnacle of the uptrend correction.
After a critical tumble from $316, it might begin further correction to the upward trend. The $295 mark is defining for the price future.
Ripple has achieved the key mid term level, which is the most likely peak of the pullback to the upward trend.
After the price settled at $0.715, we saw a sharp price climb. Analyzing the pending orders volume, the sell orders exceed the number of purchase orders. XRP has genuine resistance before $0.183. That is the reason until there is no upwards reversal, the descending trend will continue.
Bitcoin price has formed one more uptrend wave. The rise in demand didn’t lead to the full-scale correction. That is why this trend is is relied upon to last.
The $3,220 up wave may become the premises for flat, however this wave structure must be broken. The present key level with the most trading volume is $3,400. The price might turn into flat if Bitcoin has a reversal down at this level.
Litecoin price has formed the full-scale correction to the $38 upward trend. The following price reaction will define the trend.
As a rule, in this cases a price settles, so we may see Litecoin settling at $48. If big sells volumes will follow, there’ll be no reversal up and the fall will last. But settling at $48 along with a reversal up will indicate the rise in demand, which would mean the trend will proceed.