Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), EOS, Litecoin (LTC): Weekly trading signals for March 4th

BTC/USD

Bitcoin (BTC) took a dive today after breaking below the 20 MA and retesting the $3715 support. If we fail to hold this support then the volume well is suggesting a drop down to $3677 and hopefully a bounce of the 50 MA.

With this other dump today, we see the RSI in the overbought zone. However there also now a downward cross on the MACD indicating we are still very much bearish short term.

ETH/USD

Ethereum (ETH) has failed to stay above the 20 MA as of the 2nd March and the rejection of the 20 MA on the 3rd see ETH fall to $129 at time of writing. We had a bounce off the 50 MA; however, we remain bearish and I see ETH trading sideways across the 50MA for the next few days and a retest of the ascending trend line at around $118.

XRP/USD

Since our last analysis Ripple (XRP) has again tested the resistance from the descending channel around $0.34 but could not break above and has now fallen below both the 20 MA and 50 MA.

XRP/USD has had a bounce of the ascending trend line (green) and the support at $0.30. I see XRP trading sideways along the trend line and Resistant line at $0.32 with a break above hopefully around the 11th March.

EOS/USD

EOS has broke below the 20 MA and with RSI oversold and the MACD cross showing more selling pressure we see EOS testing the support at $3.06.

Hopefully, the 50 MA can continue upwards and we see a nice bounce off this and retest the 20 MA short term. Will see EOS trading sideways within the volume well channel between $3.06 and $3.45.

LTC/USD

Litecoin (LTC) hasn’t really changed since last week’s analysis. There’s still has the major resistance at $52.50, and support at around $44/$45. If it can break above $52.50, then we can see $56 in the short term.

LTC is still fighting to stay above the 20 MA and as long as it can hold, then we will retest the $52.50 level, if not then it’s going to trade sideways at around $45.