So far, the declines on LSKUSD prevail and the downward correction has evolved from ABC to WXYXZ, so most likely we will see the end of this downturn soon. Unfortunately, there is no visible pressure from the bulls to push the price above local resistance at the level of $ 15.87. It remains to wait and observe the level of $ 13.40 as the main technical support for...
Let's take a look at the Bitcoin technical picture at the H4 time frame. The market is about hit the projected target zone for the wave (c) of the wave (2) and now it should bounce form it in order to test the local technical resistance at the level of $9,434. The market conditions are now oversold, so it should help to bounce in the short-term. Nevertheless, if...
The market has dropped to the level of $9,434, so the green impulsive scenario was invalidated as wave 2 went into the territory of wave 1. The current scenario assumes a top of the wave 1/A at the level of $11,714 and a rather extended in time and price correction in the wave 2/B in form of an ABC Regular Flat pattern. The nearest technical resistance is seen at...
The price of the LTCUSD cryptocurrency pair hit the gold trend line impulsively and made a new local peak at $ 251.90. From there, the first correctional wave A was made, followed by the formation of the triangle B. Therefore, it was left to wait for the next, probably the last inheritance wave C, which should also develop in an impulsive way. The target level for...
Cryptocurrency GameCredits GAMEBTC is heading in the next level of Fibonacci, i.e. the level of 78% lifting the wave 1 impulse. This level is located at 18028, just above technical support. This decrease takes place on a significantly reduced volume than the last wave of growth, so there is still a chance for a dynamic wave (3), which with its range can easily...
The price of LSKUSD really likes 78% Fibo, because it tests it for the second time. Involvement of the demand side is small, so the potential upward movement in the form of a five impulse waves emains in the dream zone. Ewentually, growth scenario may start to be seriously taken into account only when the price breaks the level of $ 22.00 in an impulsive way.
After breaking above the downward trend line, the price of the XRPUSD cryptocurrency is still in the horizontal consolidation phase as it trades between the levels of 0.82500 - 1.07800. Consolidation lengthens over time, but is still valid, so rally towards the next level of resistance at 1.2296 and 1.38900 are still more likely than decline. The upward scenario...
The price of ETHUSD is still trading inside of a corrective zone below the golden trend line. There is still wave B to the downside missing and wave C to the upside missing as well. The first projected target for wave B of a higher degree cycle is at the level of $1,000 - $1,100, but this wave progression might evolve into more complex and time-consuming cycle....
The cryptocurrency KyberNetwork KNCBTC is located at the 61% lifting of Fibonacci after an unsuccessful attempt to break above the key resistance zone at 49140 - 53978. The current support for the price is at 20,000 and has already been slightly affected. Apart from that, there is no explicit demand response at this level, so further declines towards level 14396...
Cryptocurrency Stellar XLMBTC is still in a horizontal trend with a downward trend. The next level of target for this cryptocurrency is the level of 3000 and even, in the case of prolonging the downward wave, the level of 2624. Only breaking above the trend line may indicate some upward tendency.
The price of LSKUSD is about to complete the three waves corrective cycle around the level of $18 and then an impulsive rebound is expected. The impulsive scenario is valid as long as the supply zone between the levels of $12-$16 is not clearly violated. The projected level for up waves are: - wave 3 - the level of $34 - wave 5 - the level of $40. Please notice,...
The price of BTCUSD has just made five impulsive waves up to the level of $10,900 and now is developing an internal, short-term correction. This corrective cycle should not move below $10,000 zone and after the correction is completed, the market might easily explode upwards towards the level of $12,030, and then towards the level of $13,400. Please notice, the...
Due to the fact that the current downward correction on BTCUSD is quite extensive in time and in the price, I decided to present two potential wave scenarios: Scenario 1 (main): The growth impulse from the level of $ 5,930 ended with three waves and the current correction is a wave 4 of the entire growth impulse. The maximum range of this adjustment is 50%...
The highly anticipated LISK rebranding event has passed away and the question remains: to hodl, to sell, or do nothing? According to the Elliott Wave Principle, the current situation is still in favor of another wave higher, but first, the correction must complete. The first level for the corrective leg dow might have been reached at the level of $23,55 which is...
The attempt to insert an impulsive scenario ended with a hyper bullish growth count. Sequence of 1-2, (1) - (2), (i) - (ii) is a typical, impulsive, strongly upward wave progression, which assumes very rapid increases in wave 3. If this count is correct, then the price should grow very fast in the direction of $ 12,000, and even higher, without making deep...
ELLIOTT WAVE ANALYSIS: The price of the ICX cryptocurrency quoted for Bitcoin ICXBTC moves in a very technical manner at a four-hour interval. The price has already formed the first wave of the ZygZak double structure, the W wave, at 0.0008686, which will now be the technical resistance for further increases. The X-wave connector was also made, with a well at...
The change in the paradigm in the Litecoin cryptocurrency is dictated by the invalidation of the long-term impulsive scenario, according to which I made analysis at smaller time intervals. Due to the overlap of many fundamental factors and the breaking of rules and guidelines subject to the Elliott wave theory (only three growth waves instead of five and a...
The price of XRPUSD has broken above the golden trend line and now is trading around the level of 1.078 after making a high of 1.2296. The only problem so far is, that the breakout is only in three waves and we need five of them to count it as a valid, impulsive breakout. The key support level is at 0.8250. Any violation of this level would indicate a further...