• ETH/BTC had a bullish session following six straight bearish days.
  • BTC/USD is consolidating itself above the $10,000 level.

Bitcoin Fear & Greed Index

fxsoriginal

Alternative.me’s Fear & Greed Index has finally moved into the “greed” zone for the first time since February 19, 2020 as it trends around 55. The bulls are busy consolidating their positions pre-halving. It won’t be surprising to see the price move into the “Extreme Greed” zone over the next four days.

ETH/BTC daily chart

ETH/BTC daily chart

ETH/BTC had a bullish start to the day as it went up from 0.0212 to 0.0215, re-entering the 20-day Bollinger Band. Before this, ETH/BTC daily chart had six consecutive bearish sessions. This Thursday, the asset dropped from 0.02176 to 0.0212 and broke below the SMA 200, in the process. The latter is currently acting as an immediate market resistance. Along with the SMA 200 curve, other key resistance levels to overcome lie at 0.02176 and 0.0225. On the downside, healthy support levels lie at 0.02103 and 0.0205. The RSI has dipped into the oversold territory, suggesting that more bullish action can be expected today. The Elliott Oscillator has plummeted from 0.002313 to -0.001678 over the last 12 sessions.

BTC/USD daily chart

BTC/USD daily chart

After a brief bearish start, BTC/USD promptly went up from $10,000 to $10,009.40 in the early hours of Friday. This Thursday, the bulls showed their hand as the price climbed from $9,158.30 to $10,000. The RSI indicator is trending around 78 within the overbought zone, suggesting that the price is currently overvalued and a short-term bearish correction is expected. The MACD indicates that overall market momentum is bullish.

ETH/USD daily chart

ETH/USD daily cahrt

ETH/USD continues to be sandwiched between the upward trending line and the red Ichimoku cloud. This Thursday, the price bounced off the trending line and jumped from 199.25 to $212.41. The bulls have taken the price up further to $215.25 in the early hours of Friday. The SMA 50 is looking to crossover the SMA 200 to potentially chart the golden cross pattern. The MACD indicates decreasing bullish momentum, while the Elliott Oscillator has had four straight red sessions. The bulls need to conquer the $223.30 resistance line to enter the Ichimoku cloud, following which, they must take care of the $232.15 line. On the downside, healthy support levels lie at  $207 and $197.50.

XRP/USD daily chart

XRP/USD daily chart

XRP/USD bulls remained in control as the price rose up from $0.2187 to $0.2195 in the early horse of Friday, breaking above the triangle formation in the process. The bulls are now going to aim for the $0.2272 resistance line to break above the SMA 200 curve. After this, they’ll want to gather enough momentum to hit the $0.2435 resistance line. On the downside, support lies at $0.212 and $0.2023. The Elliott Oscillator has had six consecutive red sessions.
 

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.

Cryptos feed Join Telegram

Recommended content


Recommended Content

Editors’ Picks

Bitcoin Weekly Forecast: If bulls are back, this is where you can accumulate BTC next

Bitcoin Weekly Forecast: If bulls are back, this is where you can accumulate BTC next

Bitcoin price shows a lack of momentum after an explosive move in the last three weeks. The fourth week has been relatively silent, without a lot of volatile moves.

More Bitcoin News

Ethereum Classic Price Forecast: Do not count on large recovery for ETC in Q1, Q2 of 2023

Ethereum Classic Price Forecast: Do not count on large recovery for ETC in Q1, Q2 of 2023

Ethereum Classic (ETC) saw the headwinds that triggered the massive sell-off of 2022 fade a bit to the background in the first weeks of 2023. That resulted in bulls returning to life after a hibernation of almost five consecutive straight months.

More Ethereum Classic News

Ripple will win the legal battle with US SEC in the Supreme Court: John Deaton

Ripple will win the legal battle with US SEC in the Supreme Court: John Deaton

Ripple, the cross-border remittance giant is likely to win its legal battle against US financial regulator, the Securities and Exchange Commission (SEC) according to crypto proponent John Deaton.

More Ripple News

The real reason why Shiba Inu diamond hands refuse to sell despite 40.6% SHIB price rally

The real reason why Shiba Inu diamond hands refuse to sell despite 40.6% SHIB price rally

Shiba Inu holders who acquired SHIB more than 11 months ago are holding onto their tokens. These holders have refrained from selling their SHIB holdings since December 2021.

More Shiba Inu News

Bitcoin: If bulls are back, this is where you can accumulate BTC next

Bitcoin: If bulls are back, this is where you can accumulate BTC next

Bitcoin price shows a lack of momentum after an explosive move in the last three weeks. The fourth week has been relatively silent, without a lot of volatile moves. While BTC consolidates, other altcoins are rallying left and right, providing massive gains.

Read full analysis

BTC

ETH

XRP