Cryptocurrency Weekly Forecast: August 26 - September 1, 2019
Weekly cryptocurrency forecast for August 26 - September 1, 2019: Bitcoin, Ripple, Ethereum, Litecoin.
The price movement this weekend has led to an intense struggle between buyers and sellers for control over price movements. After Friday’s close, market capitalization dropped slightly, from $ 271.586 billion to $ 269.789 billion, and bitcoin dominance was 68.77%.
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BTCUSD forecast for the week of August 26 - September 1, 2019
The price of bitcoinis limited to $ 10,000 - $ 10,400, since these levels act like triggers for buyers and sellers. The good news is that $ 10,000 support is more powerful than sellers thought. The MACD, Stochastic Oscillator and Volume indicators are more focused on moving up than down.
Trading recommendations. If you break the level of $ 10,400, you can wait for the uptrend to return. But you should be careful, since there is a strong resistance level in the form of a trend line on the way. Her break will open the way to the levels of $ 13,000 and $ 13,800.
XRPUSD forecast for the week of August 26 - September 1, 2019
Ripple moves in a horizontal channel between 0.266 and 0.276. Technical indicators indicate an upward movement.
Trading recommendations. The situation with Ripple remains unclear. It may still fall slightly, but hardly below 0.246 - a strong support level. So far, there is no need to talk about the upward movement, for this he must first break through the strong resistance level of 0.29. Long-term traders can buy Ripple right now, the price is quite attractive, and we recommend waiting for short-term traders.
ETHUSD forecast for the week of August 26 - September 1, 2019
Ethereum has been moving sideways since August 14, but the last candle with a volume shows a kind of candlestick model “morning star”. The MACD and Stochastic Oscillator indicators tell us that there is potential for an upward movement to return to level 218.
Trading recommendations. We are waiting for Ethereum to break through a strong resistance level of 203 to open purchases. Breaking down support level 179 will pave the way for us to sell.
LTCUSD forecast for the week of August 26 - September 1, 2019
The price of Litecoin varies in a narrow range from 70 to 75 dollars. He also shows the same “morning star” figure as Ethereum, and MACD and Stochastic Oscillator indicate an upward push.
Trading recommendations. Despite all the bullish reversal signals, it must be remembered that the main trend is bearish. We need to wait for signs of a trend change to enter long positions on LTCUSD. After Litecoin breaks the level of 78.8, you can open purchases with immediate goals - 87 and 99.9. Successful trading for you!
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