Bitcoin took a nosedive today as it dropped by a steep 11% to hit the current $35,000 level amidst a cryptocurrency market sell-off. The cryptocurrency had almost dropped by a steep $10,000 when it dropped from $42,000 to reach the daily low at $32,265.

As expected, the rest of the altcoin market has suffered from this steep decline. In the top 10 ranked coins, Ethereum, Litecoin, and Chainlink have been hit the hardest.

Let us take a look at these three cryptocurrencies and highlight some areas of strong support moving forward.

Ethereum (ETH) price analysis

Key support levels: $1045, $1000, $950, $900, $855

What has been going on?

Ethereum saw a strong performance over the weekend as it managed to set a new multi-year high yesterday at $1351. It managed to poke above resistance at $1266 to break $1300 and set the new high. Unfortunately, the bulls could not close the daily candle beyond $1300 and it started to tumble today as BTC started its decline.

Over the course of the day so far, Ethereum dropped as low as $1015 before rebounding higher toward $1090.

A retracement of this magnitude is still quite healthy when we consider that ETH is still up by a strong 97% over the past month of trading. 

ETH price short term-prediction: Bullish

ETH remains bullish, even with the latest price plummet. The cryptocurrency would have to drop beneath $800 to turn neutral and it would need to fall beneath $500 (200-day EMA) before turning bearish in the short term.

If the sellers do push lower, the first level of support lies at $1045 (.382 Fib Retracement). This is followed by support at $1000, $950 (.5 Fib Retracement), $900, and $850 (.618 Fib Retracement). Additional support lies at $800 and $720 (.786 Fib Retracement).

Where is the resistance toward the upside?

On the other side, the first level of resistance lies at $1133 (bearish .786 Fib Retracement). Above this, resistance is found at $1200, $1266 (bearish .886 Fib), $1300, and $1350. Added resistance lies at the ATH of $1424 and $1500.


 

Litecoin (LTC) price analysis

Key support levels: $141.50, $128, $120, $115, $110, $100

What has been going on?

Litecoin also managed to set a fresh multi-year high yesterday when it surged into the May 2018 highs around $185. Again, Litecoin was unable to close a daily candle above the $180 level as it started to tumble when BTC began to fall.

Despite the steep 16.7% price drop today, Litecoin is still up by a whopping 93% over the past month of trading. Looking further back, Litecoin is up by a strong 185% over the past 3-months of trading – so a 16% pullback is nothing in the grand scheme of things.

The coin is finding strong support at $141.50 on the 4HR chart, which is provided by the .382 Fibonacci Retracement level.

LTC price short-term prediction: Bullish

Litecoin continues to remain bullish right now and would need to drop beneath $115 (.618 Fib Retracement) to turn neutral. It would have to continue further beneath $80 (200-day EMA) to be in danger of turning bearish in the short term.

If the sellers do break beneath the $141.50 (.382 Fib) support, added support first lies at $128 (.5 Fib). This is followed by support at $120, $115 (.618 Fib), $110, and $100. Beneath $100, support lies at $95 (.786 Fib), $90, and $84.22.

Where is the resistance toward the upside?

On the other side, the first level of resistance is located at $147 (2019 Highs). This is followed by resistance at $158, $165, $174, and $180. Beyond $180, resistance is expected at $185 (May 2018 highs), $190, $196 (bearish .5 Fib Retracement), and $200.

Chainlink (LINK) price analysis

Key support levels: $14, $13.61, $14, $12.30, $11, $10.43, $10

What has been going on?

Chainlink managed to surge from $11 last week to reach as high as $19. The cryptocurrency could not close a daily candle above the resistance at $17.90 over the weekend which saw the coin rolling over yesterday.

It went on to drop beneath support at $15 (.382 Fib Retracement), as it continued lower to hit the current $14.45 trading price. 

Today’s low currently sits around $13.50 and a break beneath this might see LINK heading toward $11 over the course of this week.

LINK has not performed as excellently as LTC or ETH and is only up by a small 20% over the past month of trading. 

LINK price short-term prediction: Neutral

LINK is considered to be neutral right now. To turn bullish again, the coin would have to close a daily candle beyond the resistance at $17.90 (bearish .786 Fibonacci Retracement level). On the other side, a break beneath $11 (200-day EMA) is likely to turn LINK bearish in the short term.

If the sellers push lower, the first level of support lies at $14. This is followed by support at $13.60 (.5 Fib Retracement), $13, $12.30 (.618 Fib Retracement), and $11 (200-day EMA). 

Added support is then found at $10.43 (.786 Fib), $10, and $9.32.

Where is the resistance toward the upside?

On the other side, the first level of resistance lies at $15. This is then followed by resistance at $16, $17, and $17.90 (bearish .786 Fib Retracement). Beyond $18, additional resistance is found at $19.23 (bearish .886 Fib Retracement), $20, and then at the previous ATH price of $20.76.



Back link ETH, LTC, & LINK Analysis: Hardest-Hit Top 10 Coins In Today’s Pullback – Where Is The Support? | CoinCodex https://cloudtokenplus.com https://cloudtokenplus.com

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