It’s a mix of trend reversals and continuation for bitcoin and its buddies these days. Here’s what’s moving up and what’s not.
Ethereum had a pretty strong run in the previous week as it left its crypto rivals eating dust with an 8.79% gain.
Bitcoin was also in the green as it closed 1.63% higher while BCH lagged behind.
Check out this ranking of bitcoin and its buddies for the past seven days:
Altcoins Price Performance from MarketMilk
BTC/USD: 1-hour
Bitcoin
The 100 SMA is still above the 200 SMA for now, so there may still be a chance for bulls to stay strong. Stochastic is also heading north, so price might follow suit before overbought conditions are seen.
ETH/USD: 4-hour
Ethereum
It also happens to be right smack in line with the 100 SMA dynamic inflection point, which is above the 200 SMA to confirm that buyers have the upper hand.
At the same time, stochastic looks ready to pull up from the oversold region, suggesting that buying pressure is about to return while sellers take a break.
LTC/USD: 1-hour
Litecoin
However, the 100 SMA is above the 200 SMA to suggest that support is more likely to hold than to break, and stochastic is also on the move up to confirm that buyers are present.
XRP/USD: 1-hour
XRP
Stochastic has room to climb before indicating overbought conditions, so a larger correction to the channel top might also be a possibility. The 100 SMA is above the 200 SMA but looks prime for a bearish crossover soon.
Just be warned, there is a considerable amount of risk in trading cryptocurrencies due to their inherent volatility and sensitivity to headlines. Be careful out there!