Altcoins seem to be in recovery mode these days as bitcoin and its buddies are trending higher on these short-term charts.
Check out this ranking of bitcoin and its buddies for the past seven days:
Cryptocurrencies Price Performance from MarketMilk
BTC/USD: 1-hour
Bitcoin
Price just busted through the mid-channel barrier and is setting its sights on the top of the channel next. The 100 SMA is above the 200 SMA to indicate that the climb is more likely to gain traction, but stochastic seems to be suggesting a return in selling pressure.
ETH/USD: 1-hour
Ethereum
However, the gap between the moving averages seems to be narrowing to suggest weakening bullish momentum and a potential bearish crossover.
LTC/USD: 1-hour
Litecoin
Stochastic has a bit of room to climb before indicating overbought conditions or exhaustion among buyers, but turning lower could signal that sellers are about to take over.
XRP/USD: 1-hour
XRP
However, stochastic is already testing the overbought zone to suggest that buyers could use a break and let sellers take over. If that happens, XRP could retreat to the bottom of the channel to test support around the $0.1600 mark.
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!