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    Denis Harrison
    May 02, 2016

    Altcoins Price Analysis (Week of May 1st): Ethereum, Litecoin and DASH

    The altcoin markets were dominated by upward trends this week. Will that growth continue into the new week?

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    Altcoins Price Analysis (Week of May 1st): Ethereum, Litecoin and DASH

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    The altcoin markets were dominated by upward trends this week. Will that growth continue into the new week?

    ETH/USD

    Ethereum’s price has formed a weekly flat. That was expected because the price has reached a long-term resistance line where a change of cycles usually happens.

    ETH/USD price chart 1

    For either an upward or a downward medium-term trend to begin Ethereum’s price has to form a structure which will clearly indicate which side holds the advantage. If it fortifies at $9.5 and forms a turn to growth it will display that the bulls are a majority. In that case, a medium-term upward trend is most likely to begin.

    ETH/USD price chart 2

    LTC/USD

    A powerful upward trend on Litecoin was provoked at a long-term level. Powerful impulses happen most often at key resistance lines because the future trend directions are usually decided at such points.

    LTC/USD price chart 1

    So far this downward movement seems to be a correction within a larger upward trend and for it to continue Litecoin’s price has to fortify and form a turn at the level of $3.8.

    LTC/USD price chart 2

    DASH/USD

    A natural rebound off the bottom limit of the medium-term flat has resulted in an upward trend on Dash. The reasons which should, and actually have, caused the rebound were described earlier.

    DASH/USD price chart 1

    For the upward movement to continue on Dash, the structure of the trend has to stay intact. The level of $6.5 can become critical for that upward trend and Dash’s price can form a new flat near it.

    DASH/USD price chart 2

    Summary:

    For the upward Ethereum trend to continue, the price has to break through the level of $9.5.

    The Litecoin’s trend can turn to growth at the level of $3.8.

    Dash’s upward momentum can be broken by a turn at $6.5.

    • #Litecoin
    • #Ethereum
    • #Dash

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