• BTC $47,578
  • ETH $1,544
  • XRP $0.45
  • BCH $488
  • XMR $200.5
  • DASH $203
  • EOS $3.65
  • ZEC $121
  • ADA $1.104
  • NEO $37.38
  • BNB $222
  • XLM $0.395
  • USDT $1.0010
  • MIOTA $1.29
  • DOGE $0.05
X
  • BTC $47,578 -1.20%
  • ETH $1,544 +3.31%
  • XRP $0.45 -1.54%
  • BCH $488 -1.63%
  • EOS $3.65 -1.73%
  • DOGE $0.05 +0.50%
  • Advertise
  • Careers
  • News
    • Bitcoin News
    • Ripple News
    • Ethereum News
    • Litecoin News
    • Altcoin News
    • Blockchain News
    • Business News
    • Technology News
    • Policy & Regulations
  • Markets
    • Market News
    • Price Indexes
    • Market Analysis
    • Heatmap
    • Top 10 Cryptocurrencies
  • Magazine
  • People
    • Top 100 2021
    • Top 100 2020
    • Opinion
    • Expert Take
    • Interview
  • Cryptopedia
    • Explained
    • Bitcoin101
    • Ethereum101
    • Bitcoin Cash101
    • ICO101
    • Ripple101
    • Lightning Network101
  • Industry
    • DApplist
    • Events
    • Jobs
    • Press Releases
    • Store
    • BlockShow
  • Consulting
    • Consulting Services
    • Technology Providers
    • Industry Reports
  • Video
  • Markets Pro
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?

513 Total views
2 Total shares
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?

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
Related News
  • Bitcoin Price Rally by 2021 Looks Likely From Five Fundamental Factors
  • Cannabis-focused crypto firm reveals why it’s switching to Cosmos
  • Ethereum 2.0: Less is more... and more is coming
  • Institutional money may propel Bitcoin to $250K in one year's time, says macro investor
  • New Malware Campaign Spreads Trojans Through Clone Crypto Trading Website
  • Venezuelan Petro Against US Sanctions: History and Use of the Crypto
Loading
Editor’s Choice
  • Dev says $31 million Meerkat Finance exploit was a 'test'; will return funds
  • Traders speculate that Bitcoin’s price may continue to trade sideways for now
  • 99% gone in 60 seconds: How a Polkadot trader may have crashed DOT futures
  • No more ‘Bitcoin effect?’ MicroStrategy stock falls by 50% in 17 days
  • Law Decoded: Closing remarks on the future of crypto law, March 5
Cointelegraph YouTube Subscribe
Advertise with us