02.02.202114:37 Forex Analysis & Reviews: Altcoins are growing, technical benchmarks have been updated

The cryptocurrency market climbed on Tuesday. Bitcoin, the main cryptocurrency, which still retains the status of the "market guide", has broken through the mirror resistance level of 34,708.27. Following it, the altcoins Ethereum, Litecoin, and Dash rose, some of which came out of narrow sideways.

Ethereum strengthened on Monday after bouncing up from the mirrored support level of 1,290.82. And on Tuesday, the resistance level of 1,369.23 was broken, and the ETH/USD quotes reached historical highs. The update of the values from January 25 and consolidation above the level of 1,473.53 will allow the pair to continue to grow. However, to overcome historical values, a significant advantage is needed on the part of crypto-users. If they fail to break through, a reversal from the level of 1,473.53 is possible.

Litecoin also rose, breaking through the lateral resistance 123.99-135.89 on Tuesday. Now the closest target of LTC/USD in the upward trend will be the horizontal resistance at 146.04.

The Dash price has remained within the sideways range 94.19-105.80 since last week. Today, DSH/USD is below its upper bound. Whether the price will be able to break through the resistance at 105.80 is still unclear. With such a technical picture, further dynamics of DSH/USD may develop according to one of the following scenarios:

1. If the resistance at 105.80 is broken and the price consolidates above, the next target for growth will be the local mirror level 111.28.
2. If the Dash rebounds from the level of 105.80 downwards, it may head to the local support at 100.96, which stopped the decline in quotes on Monday.