Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) Forecast Analysis: Crypto Prices On The Rise

BTC/USD Market Prediction

1 BTC/USD =$23,455.7445 change ~ -1.90%

Coin Market Cap

$452.23 Billion

24 Hour Volume

$13.19 Billion

24 Hour VWAP

$23.8 K

24 Hour Change


From yesterday's low at $9826 the price of Bitcoin increased by 16.95% as it came up to $11491 at its highest point today. The price is currently being traded at $11280 as it came up to the broken support level for a retest of resistance.

As you can see from the hourly chart, the price came up to retest the broken ascending trendline made from 10th of June at the intersection with the 0.5 Fibonacci level which makes this area a significant resistance zone. The price came up in a five-wave manner which is why now considering the encountered resistance we are likely to see another downturn.

From last Friday we have seen a recovery in a three-wave manner with the price now forming a lower high. This could be a three-wave correction which would be the second wave of a lower degree from a higher degree correctional structure as previously a higher degree five-wave impulse to the upside ended. The price action has made a still unconfirmed descending channel on the interaction with the 0.5 Fib level today which will be validated if the price starts moving to the downside from here.

As we've seen the price coming to the significant resistance area and has made a lower high I would be expecting a downside move shortly which could either be the prolongation of the descending channel structure with another lower high for a retest of its resistance level before a breakout to the downside, or the end of the correctional structure alltogether after which the third wave on an impulsive manner should start.

The price of Bitcoin could have completed its three-wave correction on the yesterday's low with the five-wave impulse seen today being the first wave of the next impulsive move to the upside, but at this point, I don't believe that's likely.

ETH/USD Market Prediction

1 ETH/USD =$1,637.5106 change ~ -2.08%

Coin Market Cap

$200.39 Billion

24 Hour Volume

$4.37 Billion

24 Hour VWAP

$1.67 K

24 Hour Change


From yesterday’s low at $276.65 the price of Ethereum has increased by just over 8% as it came up to $299 at its highest point today.

The price is currently being traded at $294.93 as the recovery wave looks near completion and has reached the still unconfirmed descending triangle’s resistance level. The price moved to the upside in a five-wave manner which is why now I would be expecting another move to the downside like in the case of Bitcoin.

The expected downfall could be another retest of the triangle’s support level in which case the price of Ethereum would fall to $270 before another upturn but for another lower high to $287 which would be another retest of descending triangle’s resistance.

If this occurs we would be seeing the formation of the five-wave correction inside a triangle ending on its resistance level which would indicate a breakout to the downside. The breakout would lead the price of Ethereum significantly lower, below the 0.236 Fibonacci level and potentially below the lower ascending trendline which serves as a support and on to the next Fibonacci level at around $230.

This would be the third wave from the correctional structure which started last Wednesday when the price of Ethereum was sitting at $352 at its highest point.

Another possibility would be that the three-wave correction ended on yesterday’s low and we are seeing another starting upside impulse but considering the market context, I don’t believe that’s likely.

LTC/USD Market Prediction

1 LTC/USD =$98.6877 change ~ -1.97%

Coin Market Cap

$7.12 Billion

24 Hour Volume

$227.81 Million

24 Hour VWAP


24 Hour Change


From yesterday's low at $114.3 the price of Litecoin has increased by 7.29% as it came to $122.4 at its highest point today. The price is currently being traded at $120.63 as an interaction with the $122.32 horizontal level ended as a rejection. Looking at the hourly chart you can see that the price of Litecoin came up to the median horizontal level off of the resistance zone between $137 and 109 which was broken on the way down on Monday. Recovery has been made the next day with the price attempting to move back up above the level but only spiked above it before shortly another decrease has occurred to the minor horizontal level at $114.26 which serves as support.

Yesterday's low closed on the minor support level with whom an interaction has been made on Monday with a spike. This close is most likely the end of the impulsive move we've seen from Saturday when the price of Litecoin was trading at $135.27 at its highest point. As the wave structure implies that we've seen a five-wave decrease after a three-wave correctional upside structure the increase seen from yesterday could be another minor correction after the next impulsive move to the downside starts.

Even though the price got rejected at the median horizontal level we could see an increase above it if the price is starting to develop another upside correctional move. As also seen the completion of the five-wave move from yesterday ending as a rejection at the significant horizontal level I pullback would now likely occur but if we are to see another rise above the level the expected decrease would end around the $117.9 area which is the next minor horizontal level and the median point of the horizontal range in which the price action is bouncing from Monday.


In the last 24 hours, we’ve seen a recovery which pushed the price to the upside and on to their broken support point which now serves as resistance. As the resitance found rejected further recovery and propelled the prices of the major cryptos into a downward trajectory we could see further correctional movements before another downfall of an impulsive manner.

Another possibility would be that the three-wave correction which out of which I believe we are seeing its second wave developing, has ended on the yesterday’s decrease and with the recovery seen today was made in a five-wave manner, but more likely we are yet to see the third wave develop to the downside.

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