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The crypto markets began the weekend with a mixed trading session, with Bitcoin continuing to trade sideways at its current price level of $ 3,475. Although markets have remained stable relative to their current price levels, some major cryptos, including Litecoin and Ethereum, may soon see price increases.
While these crypto-currencies may show signs of momentum, it's important to note that Bitcoin will likely have to stay above $ 3,400, or even exceed its resistance level at $ 3,500, so markets can record a surge. significant prices.
Ethereum may soon increase based on historical price movements
Analysts have incredibly mixed feelings about the current price evolution of Bitcoin. Some expect BTC to return to its lowest level in 2018, about $ 3,200, while others expect it to strengthen in the near future.
As Bitcoin has been stable for the last few days, badysts are looking closely at how some of the major cryptocurrency currencies will trade in the near future. Many badysts expect Ethereum to experience bullish momentum over a short period of time.
At the time of writing, Ethereum was trading up 1% at its current price of $ 107. Despite increased volatility this week, Ethereum has managed to keep more than $ 100, which seems to be a major support.
Nik Patel, a popular cryptocurrency badyst on Twitter, recently pointed out that Ethereum generally tended to rise as its price approached its 200-day moving average.
"Just a little ETH dollar hopium: Note how the price has always reacted around the Daily 200MA. A daily reconciliation over the MA and resistance to the trend line is likely when we will have our long-term reversal, "he explained.
Just a little bit $ ETH hopium:
Note how the price has always reacted around the Daily 200MA.
A daily close above the MA and resistance to the trending line is likely when we will have our long-term reversal. pic.twitter.com/7HEqY2gUXf
– Nik Patel (@cointradernik) February 2, 2019
Analysts also cautiously bullish on the litecoin
The litecoin may also show signs of momentum in the short term, but it faces its resistance level, prompting many badysts to be wary of their badessment.
Analysts are cautiously optimistic about Litecoin (LTC).
At the time of writing this article, Litecoin is trading up more than 1% at the current price of $ 33.14. Earlier this week, Litecoin rebounded after touching $ 30, eventually setting the price as a support level.
Trading Room, a popular cryptocurrency trading group on Twitter, said in a recent tweet that Litecoin was making strong progress in Bitcoin and Ethereum, but needed a new surge in prices to validate an uptrend.
"Litecoin has a strong trend against $ BTC & $ ETH & will outperform both in the short term … I'm waiting for an impulse before I jump into # LTCUSD … This trend is still weak and requires a dissociation local, "they explain.
#Litecoin is strongly against $ BTC And $ ETH & will outperform both in the short term
I'm waiting for a pulse before jumping into #LTCUSD
This trend is still weak and requires a local breakthrough$ LTC #Bitcoin
Check price Action Scanner: https://t.co/1ar2JOR1a8 pic.twitter.com/7dr9OOtE5c
– Trading Room (@tradingroomapp) February 1, 2019
Assuming the cryptography markets experience increased volatility as the weekend continues, it is likely that badysts and traders will have a better idea of whether Ethereum and Litecoin could validate their potentially bullish configurations. during the coming week.
Featured images of Shutterstock.
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