On April 10th I wrote an analysis calling for a possible reversal in cryptocurrencies and warning that it was not the time for someone to be bearish. Our view was confirmed and the four major cryptos we are monitoring reversed higher with a potential of higher levels still in place.
BTC/USD Bitcoin
Bitcoin has broken above the green trend line. The RSI confirms this reversal by breaking also above its resistance trend line.Short-term trend has changed to bullish and I expect more upside to follow.
LTC/USD Litecoin
Bounced strongly off the horizontal blue trend line support. Held above the green trend line and is now challenging the black downward sloping trend line resistance. The RSI has already broken above its downward resistance trend line.
XRP/USD Ripple
A big reversal here as well. Price has broken above the long-term trend line resistance. We nailed the bottom here.
ETH/USD Etherium
Price has broken the downward sloping trend line resistance here as well and is making higher highs and higher lows. Short-term trend is bullish and I expect more upside over the coming weeks.
