Ethereum, XRP, Litecoin Preparing for Volatility

Ethereum, XRP, and Litecoin have been contained within narrow trading ranges since the March 12 crash. Technical patterns show these altcoins are getting ready for volatility.

Ethereum Prepares for a Strong Breakout

Over the last weeks, Ethereum has been mostly trading between the $121 support level and the $144 resistance. The low levels of volatility throughout this consolidation period made the Bollinger bands squeeze on ETH’s 12-hour chart.

Squeezes are usually followed by periods of high volatility. The longer the squeeze, the higher the probability of a strong breakout.

From a lower time frame, it does seem like a strong breakout is on the works.

Based on the 4-hour chart, Ether’s price action seems to have developed an ascending triangle. A horizontal line was created along with the swing highs while a rising trendline developed along with the swing lows.

The continuation pattern estimates that breaking above the resistance trendline that sits around $144…