Cryptocurrency Analysis

[IFX_Selena]

Morning review of cryptocurrencies on 02/15/21

The weekend was volatile for the cryptocurrency. Bitcoin and Ethereum updated historical values, but failed to gain a foothold higher. The rest of the coins added significantly in price, but they had lost almost all of their growth today. The technical guidelines have changed. Let's look at them in detail.

Bitcoin could not gain a foothold above the local resistance level of 48178.13, despite the fact that for some time it was fixed above it. After the downward correction, the support for BTC USD remains at 46040.10 for now. Today's recovery may return the pair to historical highs if the level of 48178.13 is broken from the bottom up.



Bitcoin Cash was distinguished by a rapid growth over the weekend. The price of BCH USD has consolidated above the level of 611.50. After the downward correction, the nearest target for the pair's recovery will be the level of the maximum values of the Asian trading session on Monday. A consolidation above this mark will open the way for Bitcoin Cash to the next resistance level of 835.86.



During the downward correction, Ripple lost not only the positions gained over the weekend, but also part of Friday's growth. So far, the local horizontal of 0.5345 is working as support, and the resistance is at the level of 0.6387 (blue dotted line). The further dynamics of XRP USD will depend on whether the boundaries of this range will stand or one of them will be broken. We will probably get more clarity on this issue by the end of the day.



At the moment, Ethereum was approaching the resistance level of 161.8 on Fibo Expansion, located near 1891.64. During the subsequent downward correction, the price of ETH USD fell to the level of 1697.27 but bounced up. It is worth noting that on the four-hour chart there is a hint of the formation of a downward trend. But until the resistance held at the highs of 1874.20 - 1851.95 is confirmed by a rebound down for the third time, it is too early to draw conclusions about the downward trend. The probability of updating the historical highs for the second cryptocurrency is not yet completely excluded.



Litecoin also rose strongly over the weekend. LTC USD quotes at the moment reached the local resistance level of 228.90, and during the subsequent downward correction, they found the support level of 195.06, the breakdown of which turned out to be false. Now the direction of the pair will depend on whether it will be possible to break through the intermediate mirror resistance level of 205.25 or the price will bounce down from it.





Ekaterina Kiseleva
Analytical expert
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