The dynamics of the cryptocurrency market remains rather sluggish.

Over the past week, there have been no significant events that could fundamentally affect the dynamics of the main cryptocurrencies. The downtrend observed by all top market instruments is still trying to reach the latest lows. From the notable news can be noted the sale of the manager Mt. Gox large amount of bitcoins via BitPoint, the rapid growth of capitalization of Binance Coin after the announcement of the next tokensale platform Launchpad, as well as a phishing attack on the wallet MyEtherWallet.

As for the main cryptocurrency, the BTC chart shows that quotes complete the next sideways trend, trying to break through the local minima. The current downward channel is committed to the support line of the long-term channel - to the level of $ 3220.00. It is also worth noting that convergence is being formed on the MACD indicator, which can mean a pullback approach. The pullback may occur after a rebound from the support line and the level of $ 3220.00. The purpose of the rolling movement will be the resistance line of the short-term downward corridor - the level of $ 3,453.00. After breaking through this mark, the market can continue to rise to the resistance line of the main channel - to the level of $ 3,830.00.

Ethereum still shows a steady downward trend. After the breakdown of the minimum quotes are aimed at reaching the level of 76.0% ($ 98.30) Fibonacci retracement. The implementation of such a plan may be successful in the near future. It is possible the decline to the support line of the channel - to the level of $ 90.00. But the observed convergence on the MACD may mean a correction correction. The primary wave of rollback will be aimed at reaching the resistance line and the level of $ 105.00.

Digital Silver shows some signs of recovery. The technical picture of the LTC chart shows the upward corridor of the local correction. After a rebound from the upper border of the corridor, the impulse of decline tends to the support line - to $ 30.57. Break of this level will be a signal for the further development of the downward trend. The main goal of such dynamics will be the level of 76.0% ($ 26.33) according to Fibonacci. A strengthening factor in favor of the reduction will be the formation of a “black cross” on MACD. In turn, the breakdown of the resistance level of $ 35.00 of the current corridor will be a signal for the development of a growth trend.

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