Altcoins Price Analysis (Week of May 15th): Ethereum, Litecoin and DASH

The prices of the ETHUSD, LTCUSD and DASHUSD altcoins are going up with some degree of uncertainty. A medium-term Litecoin flat could provoke a new, deeper fall. Uncertain growth of Ethereum and Dash could end with a turn to decline.

ETH/USD

Ethereum’s price has continued forming an upward trend. Undergoing a powerful short-term impulse, the market has disrupted the structure of the short-term trend and started a correction towards the whole medium-term upward movement.

So far, the current movement is a correction, and for Ethereum’s price to turn to decline, it has to pass an important level of $9.7. Large trading volumes have accumulated at that level, which could stop the fall. Also, for a more certain prediction, the market has to overcome the exponential average 50 on a 4-hour graph. An average 5 had fortified at that mark earlier.

LTC/USD

Litecoin’s price is forming a medium-term flat. That flat is narrowing, which is only heating the situation up on the market. The whole flat is a correction toward the long-term upward trend. Thus, after the flat ends, the long-term movement will continue.

To start a trend, Litecoin’s price has to exit the limits of that flat. A new upward rebound could begin at the level of $3.8. The odds are on the side of an upward trend, as there was no turn to decline so far. The exponential sliding average 77 on the 4-hour graph, which clearly outlines the bottom limit of the medium-term flat and the level of large trading volumes of $3.8, will be the resistance line for the downward movement.

DASH/USD

Uncertain Dash growth could provoke a fall, at least within a correction. If the trend does not receive more certain support, a flat is most likely to follow. Thus, the future movement is determined.

But until a turn to decline happens, the main trend is upward. The key level, where a turn to decline is most likely to happen is $6.6. That is indicated by the large trading volumes around that price, and the sliding average 90 on the 4-hour graph, where an exponential average 5 has fortified earlier.

Key levels, where the weekly trend is most likely to turn to decline:

  • $9.7 on Ethereum
  • $3.8 on Litecoin
  • $6.6 on Dash

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