Altcoins Price Analysis (Week of May 8th): Ethereum, Litecoin and DASH

The ETHUSD, LTCSUD, and DASHUSD markets are all undergoing mild upward trends. The coming week could bring radical changes.

ETH/USD

Ethereum’s price is fortifying at the medium-term level of $9-10. A rebound off $10.21 could become the peak of a correction within the downward trend, unless the price manages to form a turn to growth.

ETH/USD price chart 1

The fortification indicates that the odds are lying with an upward trend, but for a more certain signal, Ethereum’s price has to form a turnaround wave by fortifying at the level of $10 and breaking through the peak of the trend again. Until that happens, the downward trend will retain its power.

ETH/USD price chart 2

LTC/USD

Litecoin continues its upward movement after a powerful rebound. After managing to fortify at a key line for a second time, the price has formed a turn to growth.

LTC/USD price chart 1

Until the structure of that trend is disrupted, Litecoin’s price will keep moving along the upward trend. If that trend is not supported by the bulls at the level of $3.8, Litecoin’s price is likely to fall back to the starting point of $3.6.

LTC/USD price chart 2

DASH/USD

The upward trend on Dash has stopped. The price is currently fortifying at a long-term level. The bears could use that price as the peak of a correction within a downward trend.

DASH/USD price chart 1

Thus, for the upward trend to continue, an upward turnaround wave has to form, along with a fortification at the level of $6.8. Such a scenario will indicate that there is no support for the Dash’s price to move downward.

DASH/USD price chart 2

Altcoin key resistance lines:

$10 for the medium-term upward trend to begin on Ethereum.

$3.8 as the most likely peak of a correction toward the upward Litecoin trend.

$6.8 for the continuation of the upward trend on Dash.


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