News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bullish
Wall Street
Mixed
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Bullish
More View more
Real Time News
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: 0.22% 🇨🇦CAD: 0.04% 🇨🇭CHF: -0.02% 🇳🇿NZD: -0.11% 🇪🇺EUR: -0.11% 🇬🇧GBP: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/LZMBGAenik
  • Heads Up:🇨🇦 Average Weekly Earnings YoY (SEP) due at 13:30 GMT (15min) Previous: 7.9% https://www.dailyfx.com/economic-calendar#2020-11-26
  • It was noted that monetary policy decisions in December would be consistent with prevailing market expectations
  • ECB Minutes - headline inflation was now expected to be in negative territory for longer than had been foreseen in the September projections
  • What are the three ways the stock market impacts the economy? Find out here. https://t.co/fg2dYSBPgB https://t.co/zsILutmUNx
  • Heads Up:💶 ECB Monetary Policy Meeting Accounts due at 12:30 GMT (15min) https://www.dailyfx.com/economic-calendar#2020-11-26
  • 🇲🇽 Economic Activity YoY (SEP) Actual: -5.5% Expected: -6.6% Previous: -9.2% https://www.dailyfx.com/economic-calendar#2020-11-26
  • 🇲🇽 GDP Growth Rate YoY Final (Q3) Actual: -8.6% Expected: -8.6% Previous: -18.7% https://www.dailyfx.com/economic-calendar#2020-11-26
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 93.81%, while traders in NZD/USD are at opposite extremes with 75.00%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/feJqffHqgL
  • Heads Up:🇲🇽 Economic Activity YoY (SEP) due at 12:00 GMT (15min) Expected: -6.6% Previous: -9.4% https://www.dailyfx.com/economic-calendar#2020-11-26
Bitcoin, Ripple, Ether, Litecoin - Week Ahead Price Charts and Analysis

Bitcoin, Ripple, Ether, Litecoin - Week Ahead Price Charts and Analysis

2018-03-02 19:00:00
Nick Cawley, Strategist
Share:

Bitcoin, Ripple, Ether, Litecoin - News and Talking Points

- Bitcoin looks positive for the week ahead

- Ether, Ripple and Litecoin all testing important support levels.

Bitcoin (BTC) Price Chart Looks Positive

Looking ahead, the updated BTC chart is showing signs of a further move higher as the digital token continues to trade and close above the recent downtrend with the chart also showing five ‘higher highs’ in a row (just at time of writing). Downside protection should kick-in at the bottom of Zone Two on the chart at $10,716, although a break below does see the top of Zone One at $9,900 come into view. A break above the 61.8% Fibonacci retracement at $10,971 leaves $11,650 the next target. The stochastic indicator has also turned higher, underpinning the current move higher.

We discuss a range of cryptocurrency charts and price set-ups at our Weekly Cryptocurrency Webinar every Wednesday at 12:00 GMT.

Bitcoin (BTC) Price Chart in US Dollars(September 24, 2017 – March 2, 2018)

Bitcoin, Ripple, Ether, Litecoin - Week Ahead Price Charts and Analysis

Ripple (XRP) Price Chart Showing Little Sign of Life

In contrast to the momentum seen in other cryptocurrencies, the price of XRP has barely moved over the last nine trading sessions highlighting investor exhaustion and uncertainty. The main worry is that with XRP stuck in and just above an important support zone between $0.85 and $0.92, any moderate selling could force the price back down to the next level of weak support around $0.57, a sharp 30%+ loss. Lower highs are also being made, although the trading ranges currently are very tight, while the stochastic indicator is seemingly unwilling to budge from oversold territory.

DailyFX analyst Paul Robinson looked at Ripple and Ethereum earlier and came away with a negative outlook on the pair.

Ripple (XRP) Price Chart in US Dollars (September 24, 2017 - March 2, 2018)

Bitcoin, Ripple, Ether, Litecoin - Week Ahead Price Charts and Analysis

Ethereum (ETH) Price Chart Sitting on Support

The second-largest cryptocurrency by market capitalization is currently supported by a strong technical indicator – the 50% Fibonacci retracement at $853 – but has broken below the recent uptrend line, throwing up a potentially bearish signal. Ethereum’s trading range has also narrowed which may suggest a sharp breakout from its current level with the first level of support seen at $717. Any upside move should be constrained by the falling trend line from the January 13 all-time high.

Ethereum Price Chart in US Dollars (September 24, 2017 – March 2, 2018)

Bitcoin, Ripple, Ether, Litecoin - Week Ahead Price Charts and Analysis

Litecoin (LTC) Price Chart Dominated by Lower Highs

The recent sell-off in LTC, sparked by the LitePay credit card launch postponement, has set in motion five ‘lower highs’ in a row, suggesting further losses ahead. The token is also just under the 50% Fibonacci retracement at $211 and may look to retrace most of the February 14 bullish candle back to technical support at $173. A break and close above the $211 level, may offer some respite and become support but short-term upside is difficult to justify at the moment.

Litecoin Price Chart in US Dollars (September 24, 2017 – March 2, 2018)

Bitcoin, Ripple, Ether, Litecoin - Week Ahead Price Charts and Analysis

Essential Cryptocurrency Trader Resources – Free Practice Trading Accounts, Guides, Sentiment Indicators and Webinars

If you are interested in trading Bitcoin, Ripple, Ether or Litecoin we can offer you a wide range of free resources to help you. We have an Introduction to Bitcoin Trading Guide along with a Free Practice Account. In addition we run a Weekly Bitcoin Webinar and have an IG Bitcoin Sentiment Indicator to help you gauge the market and make more informed trading decisions.

--- Written by Nick Cawley, Analyst.

To contact Nick, email him at nicholas.cawley@ig.com

Follow Nick on Twitter @nickcawley1

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES