Rajarshi Mitra
Independent Analyst
- ETH/BTC has charted a bearish cross with SMA 50 crossing above the SMA 20.
- BTC/USD has failed as it neared the $10,025 resistance level.
- ETH/USD has dropped below the $200 level.
ETH/BTC daily chart
-637251107315085924.png)
ETH/BTC went up from 0.0207 to 0.02010 in the early hours of Friday. This followed four straight bullish days, after failing at the 0.02117 resistance line. The SMA 50 has crossed over the SMA 20 to chart a bearish cross. RSI has bounced up from the edge of the oversold zone to 37.50.
On the upside, ETH/BTC has strong resistance at 0.02116 and 0.02117. On the downside, healthy support lies at 0.02044
BTC/USD daily chart
-637251108058251867.png)
BTC/USD dropped from $9,792.80 to $9,495.55 in the early hours of Friday. The price lost steam as soon as it neared the $10,000 psychological level. This means that the bulls probably won’t have the momentum required to break past crucial resistance at $10,025, which has thwarted the price twice before. On the downside, healthy support levels lie at $9,540 and $9,171.
The MACD indicates an upcoming reversal of bearish momentum. Finally, William’s %R is trending around -12.80 inside the overbought zone, indicating that the price is currently overvalued and will face short-term bearish correction.
ETH/USD daily chart
-637251109184110018.png)
ETH/USD bears took control following three straight bullish days as the price fell from $203.33 to $199.90. The price has faltered after encountering resistance at the SMA 20 curve, The MACD shows decreasing bearish momentum, while the Elliott Oscillator has had a green session following 11 straight red sessions.
If the bulls somehow manage to break past the SMA 20, there are two strong resistance levels at $212.50 and $218.25. On the downside, there are healthy support levels at $197.50 and $187.65.
XRP/USD daily chart
-637251109777894016.png)
XRP/USD fell from $0.2040 to $0.2007 as it neared the red Ichimoku cloud. The MACD indicates sustained bearish momentum, while the Elliott Oscillator has had a green session following 12 consecutive red sessions.
XRP/USD bulls will want to take the price up to $0.212 to conquer the strong resistance level and cross above the SMA 20. Beyond that, another strong resistance lies at $0.218. On the downside, healthy support levels lie at $0.196 and $0.182.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple wipes out weekly gains, experts comment on role of Ripple stablecoin
Ripple declined to $0.52 on Thursday, erasing all gains registered earlier this week. Ripple SVP Eric van Miltenburg’s comments on the firm’s stablecoin, and how it is expected to benefit the XRP Ledger and native token XRP have raised concerns among crypto experts.
Hedera HBAR slips nearly 10% after air is cleared on mistaken link with giant BlackRock
HBAR price is down nearly 10% on Thursday, partly erasing gains inspired by the misinterpreted link with BlackRock. Despite the recent correction, Hedera’s price is up 44% in the past seven days.
The reason behind Bonk’s 105% rise and if you should buy now Premium
Bonk price has shot up 105% in the past five weeks. A retracement into $0.0000216 or the $0.0000152 to $0.0000186 imbalance would be a good buying opportunity. Patient investors can expect double-digit gains from BONK that could extend up to 70%.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?