Price Analysis

Price analysis: Ethereum (ETH), Litecoin (LTC) and Stellar (XLM)

Ethereum (ETH), Litecoin (LTC) and Stellar (XLM) have been experiencing positive developments since the year began. The reason for the rise can be attributed to the various positive developments in the crypto field. The ongoing trade war between the United States and China might also have a hand. Let’s analyze the prices of Ethereum (ETH), Litecoin (LTC) and Stellar (XLM)

Ethereum (ETH)

In the past few days, Ethereum (ETH) has been trading in a tight range of $220-$270. The moving averages are sloping up while the RSI is nearing the overbought zone, as the trend remains bullish. If Ethereum breaks out of $270, it can move up to $290.92. And a rally to the next resistance zone of $300-$322 is likely.  The 20-day EMA acts as a reliable support on the downside below which a dip to 50-day SMA is possible.

Litecoin (LTC)

For the past two days, Litecoin has been trading close to the breakout level of $91. If the price bounces off to $84.34, then it will move up to $107 with $158.91 anticipated to be the next target. If the LTC/USD pair breaks out the overhead resistance for a few days, Litecoin might maintain a range bound.

While if the $84.3439-$74.6054 support zone breaks down, the pair turns negative. Hence the stops on long positions can be kept at $70.

With both the moving averages having an upward trend and RSI above 50, the bulls have the advantage. However, the negative divergence development on the RSI is alarming.

Stellar (XLM)

Stellar (XLM) turned down from the overhead resistance of $0.147620. Stellar (XLM) now falls to the 20 days EMA which offers support. If it bounces off the EMA 20-day, then it will ascend to overhead resistance once more.

But if the bears sink the XLM below moving averages, then it can drop to $0.088542. The 20-days EMA is flattening out while the 50 days SMA is flat. This points to a consolidation in the coming weeks. On a breakout and close above $0.14861760, the trend will turn bullish. Next target to watch out on the upside is $0.22466773.

Do you think Ethereum, Litecoin, and Stellar will maintain an upward trend?

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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