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
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.
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.
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.
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