• Bitcoin (BTCUSD on xStation5) set its new high a touch above $17,000 overnight
  • The Bitcoin price reached as much as $20,000 on Coinbase exchange and crashed afterwards
  • Three cryptocurrencies beyond Bitcoin which could gain momentum going forward

Bitcoin has been in the limelight so far this week, however there are several other cryptocurrencies which could gain momentum in the nearest future based on a technical analysis. Before we take a closer look at charts of the most promising digital currencies, let’s mention Bitcoin yet again as it reached its fresh peak a notch above $17k overnight but retreated subsequently.

While a move beyond $17,000 could be exciting there is an exchange where the Bitcoin price has already struck an amazing $20k mark. We talk about Coinbase, one of the largest US online exchanges used by investors, where Bitcoin spiked to almost $20,000 from $16,000 in only about 90 minutes on Thursday and then crashed back down. Price wildness underlines substantial worries ahead of a launch of futures trading at CBOE and CME.

link do file download linkBitcoin (BTCUSD) passed a $17k mark during the Asian session and slumped thereafter. Notice that the latest pullback reached almost the same size compared to the two prior ones which could suggest that new buyers could emerge. Source: xStation5

Now let’s present the three cryptocurrencies which could gain a foothold in the nearest future at least from a technical point of view. The first one is Ethereum (ETHUSD) which managed to stay above its crucial support line placed nearby $400. Since then we’ve seen a bounce which could continue at least toward $450 where a more notable resistance zone is located.

link do file download linkEthereum (ETHUSD) could be poised to reverse its latest downtrend, if so the price might keep rising towards its nearest resistance area. Source: xStation5

The second one is Ripple (XRPUSD) which looks also encouragingly from bulls’ point of view. The price has already tested an ascending trend line several times and each test has been passed thus far. Right now it seems that this scenario will be maintained as there’s been a relatively strong increase after the price touched this line. Thus one may forecast that Ripple will be rising toward its targets located at $0.295 and $0.315 respectively.

link do file download linkRipple (XRPUSD) has bounced off an uptrend yet again, hence there is a chance to see the cryptocurrency price rising toward the two red lines. Source: xStation5

Last but not least is Dash (DSHUSD) which admittedly has yet to reach a relevant support zone placed at $590 but it could bounce back as well. Betting on this virtual currency one could consider placing stop orders somewhat below a 38.2% retracement of the latest remarkable increase with a target at around $770. Let us recall that Dash has already taken advantage of a possible implementation in the Zimbabwean economy, the move aimed at dealing with hyperinflation, collapsing currency and declining national economy.

link do file download linkDash (DSHUSD) has yet to achieve its nearest support zone, however it could be already poised to regain its upward momentum. Source: xStation5