Altcoins Price Analysis: Accumulation Phase
US traders owe the state about $ 25 billion in taxes from the revenues they received as a result of operations with cryptocurrencies. Tax obligations has cryptocurrency exchanges too, in connection with which some of them may try to liquidate their assets in the coming days.
These factors in the short term put pressure on the prices of crypto assets, minimizing the possibility of growth of both altcoins and bitcoin.
As you can see, the momentum of downward movement ETH/USD is low. The resulting divergence indicates an early reversal of the overall Ethereum bearish trend.
At the same time, it remains a slight probability of another prices breakdown. This will be the last battle of the bears, which will lead them to a "Pyrrhic victory" in the short term. An alternative scenario is a break from the current levels of $ 607, which will open a door to the uptrend.
Last week XVG/BTC showed excellent dynamics. n spite of the fact that the target zone of growth in the region 0.00001250-0.0000157 has been reached by the pair XVG/BTC, the upward momentum still fades.
A slight increase is expected ahead of this range. But it is most likely not confirmed by the volume of trading, which will serve as the beginning of a medium-term correction to the area of 0.0000770-0.0000950. The driver of growth to higher levels may be the announcement of a new partnership, which is scheduled for April 17.
Starting from the level of $ 1100, there is a so-called accumulation phase, which is marked at the bottom of the figure by the allocation of trading volumes.
In the current ssidelateral movement. A break of $ 734 level will get BCH/USD the primary profit fixing zone in the $ 925. Only breakdown and consolidation above the $ 1100 will open the door to the top in the long rally.
Still, there is a slight probability of decline, so a breakdown of $ 585 dollars will provoke further price decrease.
Despite negative news about the refusal of the listing of XRP on Coinbase and Gemini, the XRP/USD confidently held an important level of $ 0.45.
Technicaly, XRP/USD has a potential to decline to $ 0.41. The crossing of this mark will have profoundly negative consequences.
If the "bull scenario" will implement, XRP will meet resistance levels at $ 0.57 and $ 0.75. Overcoming the $ 1.25 level will finally consolidate the uptrend.
Starting at $ 195, there is an increase in trading volumes, which indicates the accumulation phase, in which a large number of cryptocurrency investors participate:
The psychological level of $ 100 (the minimum reached 2.02.2018) is quite achievable. Its breakdown will send LTC to the area of $ 75.
The main targets in the upward movement will be $ 139 and $ 181. Before the final consolidation of the uptrend and overcoming the $ 255, Litecoin will have to break the resistance of $ 205-215.