Bitcoin (CRYPTO: BTC) has topped, and so far held, above $ 60,000 and a number of popular aftermarket parts appear to be forecast for a bullish week.
When charting cryptocurrencies, there are many different options and chart pairs. Many traders and investors prefer to use charts from high volume exchanges such as Bittrex and Kraken.
See also: How to buy Bitcoin
Dogecoin (CRYPTO: DOGE) got a boost this weekend after Elon Musk pumped him in a tweet.
On the four-hour chart, Dogecoin has been consolidating since it hit a nine-week high of $ 0.079 on Sunday. Dogecoin is trading in a bullish descending channel above the support at $ 0.07 and above both the eight-day exponential moving average (EMA) and the 21-day EMA.
Bulls want to see Dogecoin break through the upper sloping line of the downward channel. If Dogecoin can break out of the channel, it has the option to move to its next resistance level of $ 0.079 and if it can break through that, it can resume its all-time upper range. The bears want to see Dogecoin continue to fall in the descending channel until it loses its support at $ 0.07.
Energy Web Token (CRYPTO: EWT) is held by a decreasing trendline on the four hour chart and is fighting to stay above the resistance at $ 16.74. Stocks and cryptocurrencies often have repetitions on their charts and Energy Web Token traded below a similar downtrend line from March 28 to April 5 before breaking.
Bulls want to see a second bullish reaction to the descending trendline. If Energy Web Token can break above the sloping line, it may hit the next resistance level of $ 17.92. The bears want to see it continue to fall for it to lose its support at $ 16.74.
Ripple (CRYPTO: XRP) broke the rise on Saturday and jumped above a resistance level of $ 1.09 that had held it since February 2018. After hitting a three-year high of $ 1.49 on Sunday, Ripple consolidated into what appears to be a bull flag on the four hour chart. Ripple is trading above the 8 and 21 day EMAs which is bullish. While this may be a bit extended from the 21-day EMA on the four-hour chart, a few more hours of consolidation in the bullish flag would help both EMAs catch up with the share price.
Bulls want to see Ripple break above the flag’s upper descending trendline and above the $ 1.49 resistance level set on Sunday for a return to the $ 2 range. Bears want to see Ripple’s downtrend in the descending channel or for it to break down below the channel only to see it fall to $ 1.10.
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