Bitcoin Cash, Ethereum, Ripple worked out the forecast. What's next?

Last night, some of the short-term forecasts for altcoins worked out and it is already possible to adjust for further expectations.

As expected, Bitcoin Cash reached a strong resistance level of 538.35 and is still bouncing down from it. This is the fourth time that the price of BCH USD has failed to break this level. However, it has not yet formed a clear U-turn. Therefore, it is worth watching.

If the quotes manage to break through the resistance level of 538.35, further growth is possible. But for this, firstly, a strong impulse is needed. Secondly, the potential for movement to the next horizontal of 611.50 can be judged after the price is fixed above the mirror level of 551.56.

It is worth noting that since January 14, it has not been possible to overcome the level of 538.35, despite the impulse growth from the main cryptocurrency. Therefore, the scenario of a reversal of BCH USD and a decline in the sideways of 508.94 - 538.35 looks more likely so far.

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Ethereum also rose after a reversal from the support level of 1697.27 and reached the previous historical high. The main question now is whether ETH USD will be able to update the historical maximum and continue moving to the level of 161.8 on Fibo Expansion.

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Ripple has grown within the ascending channel of 0.3883 - 0.4469 - 0.4645 from February 7 (marked with dotted lines). However, the quotes were stopped by the level of the previous highs at the local resistance level of 0.5329 (the red dotted horizontal line on the chart). But so far, it is not necessary to exclude attempts to break it. It is possible that the XRP USD quotes will still be able to break above and reach the resistance level of 0.5556.

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The material has been provided by InstaForex Company - www.instaforex.com

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