17.02.202111:34 Forex-elemzések és áttekintések: Morning review of cryptocurrencies for February 17, 2021

Bitcoin has finally broken the 50K barrier. Yesterday's trend in altcoins has changed from downward to upward today. The question is what are the next upward targets of the main cryptocurrency, as well as what will its new record high be?

BTC consolidated above the local level of 49,690.70 and settled above 50K. Thus, its next upward target is the 161.8% Fibo Expansion level located close to 51,870.71.

Bitcoin Cash reversed upward but failed to reach the support level of 667.95. Then, the price returned to the 701.47 - 835.86 range. If the 701.47 horizontal level is confirmed as support, the quote is likely to extend its rally. Otherwise, BCH/USD may return in the 667.95 - 701.47 corridor.

Ripple reached the support level of 0.4769 (the blue horizontal line) as expected. Today, the price is recouping losses after yesterday's nosedive, approaching the 0.5345 target (the dotted line). The price is likely to remain in the sideways range of 0.4769 - 0.5345 for as long as BTC will be in the upward trend before pulling back. In case of the upward trend extension, XRP/USD's target will be set at 0.5957 (the blue horizontal line).

Ethereum was declined below the sloping resistance level of 1874.20 - 1851.95. As a result, the quote consolidated below the intermediate horizontal level of 1761.85. Amid bitcoin's rally, ETH/USD is expected to break through resistance at 1874.20 - 1851.95. If so, Ethereum may reach the 161.8% Fibo Expansion level.

Litecoin is recouping losses after yesterday's drop. It reached the local level of 219.47 and broke through it. If the price consolidates above this level, LTC/USD may go to the next upward target seen at 228.90. Otherwise, the quote will return in the 211.34 - 219.47 corridor.