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