Market Review. Results of the Day. New Year. 02/16/2018

February 16, 2018

Changes (24h):

BTC $10,086

ETH $936.33

XRP $1.10475

BCH $1,483.80

Technical analysis.

Today, the cryptocurrency market continued its growth.

Bitcoin (BTC) overcame the important level of $10,000. If this breakout will not be followed by a sharp reversal, then the new target of the growth is $12,000.

Bitcoin Cash (BCH) has stopped just under the resistance level of $1,500. If the price breaks this level, then the target level is $ 1,700.

An interesting technical pattern has formed on NEO chart (NEO), which has already regain almost a half of its fall. If the price overcome the level of $131, then it may grow up to $160.

Litecoin (LTC) today broke out from an important resistance level of $220. The next target is $ 275.

Ripple (XRP) failed to break the resistance level of $1.15 and rolled back to $1.068. The continuation pattern called flag has formed on its chart. In case of breaking out from the level of $1.12-1.15, the next target is $1.30.

In general, the technical picture for most popular cryptocurrencies looks positively. However, it is too early to forget about the January fall. 50% correction of a fall for such a short period of time inspires some optimism, but it is worrisome, too. It is reasonable to continue to hold previously opened positions. As for new buys, it is necessary to restrain and wait for the correction of this rapid growth. 


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