The BCH/USD pair traded in a tight weekly range for 11 weeks before skyrocketing higher.
While the sharp up-move is a positive sign, failure to close the week with strength shows profit booking at higher levels.
LTC/USDEven before the crypto rally began across the board, Litecoin had increased about 101.22 percent in the first quarter, which shows that the traders had been gradually accumulating the cryptocurrency.
The LTC/USD pair has formed a rounding bottom pattern that will close on a breakout and weekly close above $91. The price has risen above both the moving averages, which is a bullish sign: it indicates a likely change in trend.
The minimum target objective of the rounding bottom is $159. If this level is crossed, the rally can extend to the next critical resistance of $175.Our bullish view will be invalidated if the bears defend the overhead resistance at $91. In such a case, a few weeks of consolidation cannot be ruled out.
After trading in a tight range of $56.214 to $103.261 for 16 weeks, the DASH/USD pair broke out and closed above the range in the previous week.
The pair has broken out of the 20-week EMA and is on target to reach the 50-week SMA at $176. Above this, the recovery can stretch to $224.Our bullish view will be invalidated if the digital currency turns down from the current levels and plummets below $103.261.
The NEO/USD pair had been stuck in a tight range of $5.48080-$10.00 for 17 weeks.
The XEM/USD pair is struggling to break out and close above the 20-week EMA. Unlike the other pairs, it is yet to stage a smart recovery from the lows.
If the digital currency can rally and sustain above $0.07790717, it will indicate that the markets have rejected the lower levels and a rise to the top of the range at $0.13125258 is probable.
Top 5 Crypto Performers Overview: BCH, LTC, DASH, NEO, XEM
Published on Apr 6, 2019
by Cointele | Published on Coinage
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