The directions of altcoin trends have split. The only common thing that can be observed at the moment is the fact that Ethereum and Litecoin are both at their long-term resistance lines.
ETH/USD
The decline that Ethereum’s price has suffered this week was not as strong as could be expected. That can be explained by the change of trends from medium-term level to long-term one.
In order to change its direction to growth, Ethereum’s price will have to break the downward trend by fortifying and forming a turn at the level of $9.3.
LTC/USD
Litecoin’s price has reached a long-term resistance line within its upward trend. There was no turn to decline, so the result is the continuation of the upward trend.
Because Litecoin’s price is right now at a long-term resistance line, it can be influenced by a number of factors, which can lead to its decline. As a rule of thumb, a fall usually happens at points like this. That is due to the bulls closing their positions at a key level and bears opening their long-term deals. Thus, if a downward dynamic does form, the critical point for a rebound will be at $3.3, which is the level of the largest accumulated trading volumes. If the bulls fail to take advantage of that profitable price, there will be a turn to decline.
DASH/USD
The price of Dash has formed a flat near a long-term resistance line. For the weekly trend to begin, the price will have to exit that flat by fortifying at either of its limits.
There is a good chance of a rebound off the bottom limit of that flat. Because there was no turnabout in the long-term scope, the whole downward movement is currently a correction.
For the downward trend on Ethereum to change, the level of $9.3 has to be breached.
To break the upward trend on Litecoin, the market has to form a turn at the level of $3.3.
For the weekly trend to begin, Dash’s price has to fortify and form a turn at either of the limits of the weekly flat.