Skip to main content

Cryptocurrencies – All charts from USD pairs on kraken.com

Cryptocurrencies on Kraken.com

In the following review we are assessing the price charts of all cryptocurrencies tradable on Kraken against the US dollar.  Those cryptocurrencies that can only be exchanged against other cryptocurrencies – such as DOGE, ICN and MLN – are ignored for now.

Whenever a buy suggestion is made always use a stop-loss order to protect your capital.

1. Bitcoin, the king of the cryptos

BTCUSD – Bitcoin in USD – Weekly price chart

BTCUSD Weekly price chart

– Bitcoin price trend is clearly bullish
– Price tickling with supporting trend line
– Could continue higher but heavily overbought and below upper volatility band
– Therefore elevated risk of price correction towards lower trend line
– Wait for a better opportunity to buy
– Will be reassessed in due time

2. Cryptocurrencies with breakout potential to new highs

2.a. LTCUSD – Litecoin in USD

LTCUSD Weekly price chart

LTCUSD Weekly price chart

– The Litecoin is in a very clear uptrend
– Buy into weakness to ride the uptrend

LTCUSD 4-hour price chart

LTCUSD 4H price chart

The idea here is to:
– either buy any weakness into the rising trend line with a limit entry order around $68
– or to buy the breakout above the descending trend line and recent price peak of $83.33 with a limit stop order around $84

2.b. ETHUSD – Ethereum in USD – Weekly price chart

ETH weekly price chart

– Like Bitcoin could show some weakness into the lower demand areas
– Can be bought on proximate rising support line at ca. $310 with the risk it will break down lower to $250
– Will be reassessed in due time
– Otherwise buy the breakout above recent historical price peak at $395 with stop entry order above descending trend line ($396)

2.c. DASHUSD – Dash in USD – Daily price chart

DASH Daily Price Chart

– In a broader consolidation range
– Do nothing in the middle of the range!
– Either buy into weakness against the rising trend line with limit entry order at ca. $320 to target horizontal resistance line at $415
– Or buy a breakout above horizontal resistance line with stop entry order at ca. $416 and ride uptrend

3. Cryptocurrencies with breakout potential towards previous price peak

3.a. XRPUSD – Ripple in USD – Weekly price chart

Ripple Weekly Price Chart

– Very clear and easy chart
– Buy now at present price of $0.226 with a very tight stop loss as the price could plummet if it breaks below the rising trend line.
– Alternatively buy the break out with a stop entry order at ca. $0.285 (for this week) to target previous price peak at $0.38

3.b. USDTUSD – Tether in USD – Weekly price chart

USDTUSD Weekly Price Chart

– clearly indecisive but with a breakout potential
– buy a triangle breakout above previous price peak
– stop entry order at ca. $1.066
– Target previous price peak at $1.2

3.c. BCHUSD – Bitcoin Cash in USD – Daily price chart

BCHUSD Daily Price Chart

– bearish below horizontal trend line but with breakout potential
– buy a breakout above $677 with stop entry order at ca. $680
– target  descending resistance line at ca. $875

3.d. MNRUSD – Monero in USD – Daily price chart

Monero weekly price chart

– In a broader consolidation range
– Do nothing in the middle of the range!
– Buying into weakness against the rising trend line is NOT recommended since the price is being coiled within narrowing boundaries
– It is preferred to buy a breakout above the descending resistance line
– A stop entry order can be placed at ca. $127 (for now)
– Target historical price peak at $160

4. Cryptocurrencies with no buying recommendation

4.a. ETCUSD – Ethereum Classic in USD – Weekly price chart

ETC Weekly price chart

– In a very broad price range
– Hard to recommend any action for now
– Despite potential to beak out higher above $24, let us focus on Ethereum (ETH) instead from a more fundamental perspective

4.b. REPUSD – Augur in USD – weekly price chart

REP Weekly price chart
– In a very broad price range
– Not very inspiring since apparently capped below descending trend line
– Risk appears skewed to the downside
– No action recommended

4.c. ZECUSD – Zcash in USD – Weekly price chart

ZEC Weekly price chart

– Same as Augur; in a very broad price range
– Risk appears to be skewed to the downside as well
– No action recommended

5. Cryptocurrencies with a clear bear market trend

5.a. STRUSD – Stellar in USD – Weekly price chart

Stellar Weekly Price Chart

– Not so stellar; breaking down below resistance lines
– Don’t touch this for now even with a ten foot pole

5.b. EOSUSD – EOS in USD – Weekly price chart

EOS Weekly price chart

– Same as stellar; breaking down below resistance lines
– very clear bearish configuration
– Absolutely ugly! Run away from this crypto

5.c. GNOUSD – Gnosis in USD – Weekly price chart

GNO Weekly price chart

– Very bearish configuration
– price capped below descending resistance line
– Has broken down below last line of defense
– Avoid like the plague

No Comments Yet

Leave a Reply

Your email address will not be published. Required fields are marked *

wp-puzzle.com logo

This site uses Akismet to reduce spam. Learn how your comment data is processed.

 
%d bloggers like this: