February 16 Bitcoin, Ethereum, Ripple, Litecoin price analysis
February 16, we will take a closer look at the 4 major cryptocurrencies that have been showing signs of recovery in recent days with Bitcoin, Ethereum, Ripple, Litecoin price analysis.. Litecoin, one of the biggest rising cryptocurrencies, attracted attention with its fork on February 18.
At the same time, Western Union, one of the oldest money transfer companies, confirmed that it is testing Ripple’s Blockchain-based payment system.
George Soros, who previously described cryptocurrencies as a typical bubble, invested in Overstock with his mutual fund. Overstock is one of the businesses that invest the most in cryptocurrencies. The stock price of the company has gained a lot of value with the rapid rise of cryptocurrencies.
This shows that large enterprises are slowly realizing and investing in Blockchain technology.
February 16 Bitcoin, Ethereum, Ripple, Litecoin price analysis
BTC/USD
BTC/USD is facing selling pressure at the resistance line as shown in the chart.
Bitcoin 9,500 If it clings above the levels and breaks the resistance line, it will continue to trade inside the ascending channel, resulting in a 50% profit on the 50-day SMA for traders.. If the bullish channel does not deviate, the first target is $12,500.
If Bitcoin breaks through the Channel to the bottom, it is likely to go to the bottom. Therefore, we want to reduce our risk. If we experience a drop, our stop-loss recommendation for your investments is $8,600 for 50%, $7,800 for the other 50%.
ETH/USD
Ethereum was at buy levels on February 14. But the rise was not as expected.. It entered a narrow channel on February 15 and 16.
ETH / USD parity continued its upward trend. At the 50-day SMA, the first target is $1,000 and the second target is $1,050.. The most logical support point that seems to be Stop-Loss is the level of $ 775.
XRP/USD
Ripple broke out above the buy level we previously suggested with its rise on February 14.. However, as of February 15, it had entered a narrow channel again.
As the XRP/USD pair continues to trade above the 20-day EMA, it gains momentum and allows investors to hold 50% positions. We expect it to rise rapidly to $1.5 levels where it can make a profit. $1.7 may be the next target. $0.86 with Stop-Loss point.
LTC/USD
Litecoin continued to rise as of February 15. We predicted that it would rally to $242, and yesterday it approached our target at $240.
LTC/USD is aiming to reach $242 as long as it stays above $214,483.. Once he gets here his targets are $270 and then $307. Our recommendation is to sell 50% of your investments at the level of 240 dollars and continue with the remaining 50%.
Due to the sales wave that may occur after the fork on Sunday, we cannot predict any stop-loss points
Cointelegraph
The information in the text is for informational purposes only.. It does not constitute any investment advice.. The author and hostagons.com/ are not responsible for your profit or loss arising from the investments you make.. Investment is ultimately based on many foundations such as knowledge, experience, research and personal decisions.