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Sally Ho's Technical Analysis 3 May 2019

 
Sally Ho's Technical Analysis 3 May 2019
Ethereum / Breaking News / Bitcoin / Analytics / Litecoin

Bitcoin

Bitcoin (BTC/USD) continued to add to recent gains during today’s Asian session as the pair traded as high as the 5417.00 level after trading as high as 5422.99 during yesterday’s North American session. Stops were elected after the pair crossed above the 5403.82 level, representing the 61.8% retracement of the 6810.00 – 3128.89 range and the pair’s strongest print since 25 April 2019.

Early in the Asian session, Bids emerged around the 5387.57 level, representing the 61.8% retracement of the move from 5650.01 to 4963.00. If this level holds, it is an important indication the pair may look to establish new recent highs. Above current price activity, the pair’s major next upside target is 5473.40, representing the 23.6% retracement of the 4901.99 – 5650.01 range.

Technicians continue to eye the 5364.27 level, a key technical area related to the 4901.99 – 5650.01 range.

Price activity is nearest the 100-bar MA (4-hourly) at 5284.52 and the 50-bar MA (Hourly) at 5333.17.

Technical Support is expected around 5234.73/ 5125.13/ 4901.99 with Stops expected below.

Technical Resistance is expected around 5769.98/ 5941.26/ 6393.93 with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

 

Ethereum

Ethereum (ETH/USD) reversed course early in today’s Asian session and spun higher to test the 160.57 level, right around the 61.8% retracement of the 163.25 – 155.91 range. Thereafter, some selling pressure was seen below the 158.71 area, the 38.2% retracement of the aforementioned range, and traders are waiting to see if the 157.64 level can hold.

During yesterday’s North American session, the pair came off to the 155.91 level, just below the 50% retracement of the 148.81 – 163.25 range. The 157.73 area continues to be an important technical level, representing the 38.2% retracement of the 148.81 – 163.25 range. Chartists are waiting to see if ETH/USD can remain above the 50-bar MA.

Price activity is nearest the 50-bar MA (4-hourly) at 156.54 and the 50-bar MA (Hourly) at 158.81.

Technical Support is expected around the 156.03/ 151.69/ 146.74 levels with Stops expected below.

Technical Resistance is expected around the 161.47/ 165.25/ 172.88 levels with Stops expected above.

On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.


Litecoin


Litecoin (LTC/USD)
gained ground early in today’s Asian session as the pair tested Offers around the 72.24 level and was supported around the 71.94 area, representing the 23.6% retracement of the 74.90 – 71.00 range. During yesterday’s late North American session, the market was capped around the 72.52 area, a bearish indication because it was right around the 38.2% retracement of the 74.90 – 71.00 range.

Prior to that during the European session, the 73.41 area was toppish, right around the 61.8% retracement of the aforementioned range, and then the 72.95 area was toppish on a subsequent retracement higher, representing the 50% retracement of the same range. Collectively, these tests of technical Resistance indicate the likelihood of weakness ahead, and this is why chartists are eager to see if the 71.92 area can hold.

Price activity is nearest the 50-bar MA (4-hourly) at 70.99 and the 50-bar MA (Hourly) at 72.44.

Technical Support is expected around the 70.56/ 67.23/ 64.36 levels with Stops expected below.

Technical Resistance is expected around the 78.58/ 81.13/ 86.51 levels with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bearishly below MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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