Cryptocurrency: results of the day 02/15/21

Cryptocurrencies rose in the evening, returning some of the losses of the weekend. The question of whether Bitcoin and Ethereum will be able to update historical highs is still open, but not removed. Experts note that the decline was due to the partial closing of long positions and profit-taking. If so, there is still a chance for continued growth.

Bitcoin reached a local resistance level of 48178.13 during the day, which means that the clarification of the chances of further growth is close. Now the direction of BTC USD will depend on whether the price will be able to break through this level and gain a foothold above. If this happens, the main cryptocurrency has a chance to update its historical highs. Otherwise, we should expect a return to the local support of 46040.10.

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Bitcoin Cash rose well, approaching the local resistance level of 750.30, held at today's high of the opening of the trading session. The daily candle has a chance to close bullish. If this happens, the next target will remain the resistance level of 835.86.

In the meantime, it is worth keeping in mind the support level of 611.50 for BCHUSD. The price may move towards it if the resistance level of 750.30 will not be overcome.

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The support level of 0.5345 on Ripple has held up. Now the quotes are on the growth path to the resistance level of 0.6387 (blue dotted line). The only technical obstacle in the way of XRP USD is the intermediate horizontal of 0.5957 (marked in green).

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Ethereum recovered, approaching the inclined resistance level of 1874.20 to 1851.95. So far, the price has stopped below this boundary, creating technical uncertainty. If a downside rebound is formed, ETH USD is likely to return to the level of 1697.27. If the resistance of 1874.20 to 1851.95 is not confirmed, an increase to the resistance of 161.8 on Fibo Expansion is possible at its breakdown.

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Litecoin also returned some of the losses today, but so far it is stuck in the sideways of 205.25 to 214.74. For more clarity on the further direction of LTC USD, it is necessary to wait for the breakdown of one of the sides of this range. In the event of an exit from it, the pair will open the way to Sunday's highs.

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