Bitcoin price is forming a micro flat at $2,700 to $ 2,800 within a $2,600 to $2,900 flat. We can assume that the course is settling at the current level. The next jump up to the upper border of the micro flat was quite positive, but you can observe quite the same with the fall afterwards.
The demand volume, during the growth to $2,800, exceeds the previous volumes at this level, which is a favorable sign for an upward trend. Pending buy orders are showing rather strong resistance for Bitcoin price to drop. If the price does go down, it most likely will be in the form of a flat-like movement. Therefore, chances are the price will grow. But the increase in supply at $2,700 can break the course if it’s going up.
Ethereum price is acting quite like Bitcoin is. The course is going down flat-like, indicating that the supply volume at current levels is starting to fall. Also, in the case of growth, the demand volume starts to exceed the previous values.
In general, the current price is leaning towards growth. For more accurate confirmation, wait for a turn at the key level around $230. The most likely peak of a down rollback is $219. Buyers will indicate themselves at this level, and the price will rebound up.
Ripple price continues to fall and at the moment is near the lower border of $0.182 flat. The previous increase to $0.197 did not exceed the demand volumes that had been formed earlier. This shows a drop in buyers’ interest at this level.
But you can also see the increase in supply. All this can put more pressure on Ripple price. That’s why the premises are in favor of the fall. To reverse the downward trend from $0.203, there should be a reversal wave at $0.197.
Litecoin price is continuing its downward trend, but increasing demand level is signaling about the possible fall end. After the previous breakthrough up to $45.7, the exchange rate formed a correction wave. The demand volume exceeds the previous numbers, and that means there are new buyers.
You can also see an increase in supply. Thus, the fall structure is disrupted and turns more into a flat. Therefore, a short-term growth to at least $47 can take place during the next breakthrough up to $45.7 and a turn.
Demand on Ethereum Classic is falling along with its price. The rate is on the lowest flat border right now, and it can provoke the growth in volatility.
Another decline in price showed an increase in supply. This suggests that the downtrend will continue. But Ethereum Classic price is on an important resistance line; it’s on the lowest border of the week-long flat. If the advantage remains on the sellers’ side and there’s no turn up at a key level around $ 16.2, then the course will have all the chances to fall even deeper.
This article was originally published on: CoinTelegraph on