Different kinds of altcoin trends can be a reason for a flat forming on the USD market. The dollar’s trend has reached its minimal long-term targets. The choice of a new long-term direction is underway as a result. Will the growth continue?
Ethereum’s upward trend has ended with a powerful drop. Disrupting the structure of its trend at the level of $19, Ethereum’s price was not able to hold there, for a continued upward movement. The $19 mark was responsible for the structure of the entire upward trend which started at $14. That’s why a turn to decline at that point was able to provoke such a fall. The probability of the upward movement continuing from that mark was 50/50, but after the turn has formed, the downward movement became more probable. Litecoin is still forming an upward trend. Several price rebounds from an important resistance of $4.6 indicate that the bulls are holding the advantage. That’s why the odds are on the side of an upward trend. DASHBTC is forming a deeper long-term downward correction. The reason for that downward movement is a cancellation of a medium-term flat and, naturally, the continuation of the upward Bitcoin trend. The dollar situation is really vague. World currencies have not been forming any kind of a clear trend since the beginning of the week. That means that the dollar is in a flat. The reason for that flat is that the movement has reached its minimal long-term correction targets. The movement which started at the beginning of this year by most world currencies is a rebound toward the dollar’s long-term upward trend. Consequently, if that dollar trend continues, the prices of world currencies are going to drop, relative to the dollar. This will also have an effect on altcoins which are […]
