The current upward dynamics on Ethereum and Litecoin markets have the potential to grow into medium-term upward trends. The price of Dash is close to an important long-term level where a long-term upward trend may continue.
Ethereum’s price is in a rebound after a continuous fall. This upward movement is natural, because there was no turn in the long-term scope.
This rebound can grow into a turn to growth if the upward trend’s structure isn’t disrupted. The level of $7.5 is responsible for the continuation of the downward trend, provided that Ethereum’s price fortifies at it and forms a turn.
Litecoin’s price did not form a turn to decline. After fortifying at the key level of $3.2, the market continued moving upward.
The upward dynamics will continue, unless a turn happens at the peak level of the rebound, which is at the $3.2 mark. If the bulls hold the advantage there, there will be a bounce off and a continuation of the upward trend.
A rebound toward the long-term upward trend continues on the Dash market. The price didn’t form a turn at the key level of $7.1, hence the downward rebound is not over yet.
Dash’s price has approached a critical point for that rebound. The $5.8 resistance is the level of the largest accumulated trading volumes. If the current movement is a correction, then there will most likely be an upward rebound off that level. Otherwise, if the price fortifies and forms a turn, a more deep downward correction is in order.
Key levels on altcoin markets:
- $7.5 for Ethereum
- $3.2 for Litecoin
- $5.8 for Dash
These are the most likely points for a turn to decline.