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Cryptocurrency Price Analysis: Trading Ranges | Webinar

Cryptocurrency Price Analysis: Trading Ranges | Webinar

2018-05-30 11:58:00
Nick Cawley, Strategist
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Cryptocurrency News and Talking Points

- A lack of news flow leaves technical levels holding sway.

- Bitcoin’s trading range continues to tighten – Will it hold?

IG Client Sentimentshows how clients are currently positioned in a wide range of cryptocurrencies and how positioning has changed over the last week.

Cryptocurrency Market Bouncing Back from Recent Lows

Bitcoin (BTC) has rebounded from lows may earlier this week and may look to push further ahead if support levels are respected. In a market void of any real news – positive or negative – charts are helping to provide levels of interest. In the case of Bitcoin (BTC), a floor may be forming around the $7,000 level, while Litecoin (LTC) has bounced back from the $110 area and is seemingly pushing higher. In contrast, Ripple (XRP) seems to be stuck around the $0.59 - $0.63 level and needs to make a decisive break higher if confidence is to be restored in the short-term.

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

If you are interested in trading Bitcoin, Bitcoin Cash or Ethereum 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 Demo 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.

What’s your opinion on the latest cryptocurrency moves? Share your thoughts and ideas with us using the comments section at the end of the article or you can contact me on Twitter @nickcawley1 or via email at nicholas.cawley@ig.com.

--- Written by Nick Cawley, Analyst.

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

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