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Check the price analysis for Bitcoin, Ethereum and Litecoin.
The overwhelming market correction last week took its toll on the mood of altcoins holders. BTC was as well subject to correction, although not so dramatic.
If we neglect general market moods, from the fundamental viewpoint, SegWit and related rumors currently push the price. Seemingly, investors are anticipating news that is why the price is trading in the range between $2,250 and $2,544 from the outset of July
Ideas to follow:
Still, the probability of this scenario remains low.
Currently, the following targets are set for BTC: $2,544, $2,724, $2,880
Given the overwhelming market correction, Ethereum price exceeded the $225 support zone and remained lower afterward. As such, $225 has become a new support zone. The graph of ETH shows the retest, which is generally a negative sign for ETH holders.
The following scenarios should be considered:
From the technical viewpoint, the first scenario is most likely to take place. The second scenario is possible only if the market receives some positive impetus. Fundamentally, ETH’s price fall positively affects the technical side of Ethereum ecosystem: as the price of gas decreases, many contracts might be executed at considerably lower price. At the same time, the token values of many companies that went on ICO using Ethereum Blockchain are pegged to its base currency ETH, so that the decrease in price directly affects the capitalization of these companies.
Increasing volatility at LTC/USD limits all endeavors to build strong levels of support and resistance globally. Locally, the support level is $42, the resistance level is $55. But if we take a look at shorter trading time intervals, indeed $48 looks like a good support zone.
As a result, the best scenarios for a trader will be tests of $42, since a good entry point might be set up there. If the price follows the second scenario, it is advisable to stay out of the market.
News and fundamental factors at BTC remain the same; they could be checked on in the previous market reviews.
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