Ethereum, XRP, and Litecoin could be bound for a steeper decline

Ethereum, XRP, and Litecoin appear to have reached an exhaustion point following the uptrend they entered since the beginning of the year.
 Now, a technical index estimates that these cryptocurrencies could be bound for a correction before the continuation of the bullish trend.Ethereum is about to pull backEthereum went through rally that saw its price surge over 40 percent since Jan. 3.



This cryptocurrency went from trading at a low of $126 to a high of $179 on Jan. 18. Despite the recent bullish impulse, ETH seems to be preparing for a pullback at the moment.The TD sequential indicator is currently presenting a sell signal in the form of a green nine candlestick on ETH’s 3-day chart.
 This technical index estimates that Ethereum could retrace for one to four candlesticks or begin a new downward countdown.
 A red two candlestick trading below a preceding red one candle could validate the bearish formation.



Although a correction seems imminent, Ethereum is contained within a reasonable no-trade zone. This area is defined by the 50 and 100-three-day moving averages, which are serving as support and resistance, respectively.
Closing below the support level could validate the bearish signal presented by the TD sequential indicator triggering a steep correction.
 Meanwhile, a spike in the buying pressure behind this cryptocurrency that allows it to break above resistance could take it to the 150-three-day moving average, at $195.

Read the full topic at
https://cryptoslate.com/ethereum-xrp-and-litecoin-could-be-bound-for-a-steeper-decline/

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