- Cryptos are consolidating after the grand spring surge.
- Bitcoin has clear ranges, Ethereum has an upside target, and Ripple enjoys solid support
- Here are the levels to watch according to the Confluence Detector.
Cryptocurrencies finally woke up. And with a bang. Bitcoin is trading close to $5,000, Ethereum is $170, and Ripple also picked up steam. There are at least seven reasons for the surge.
But instead of looking into the past, recent as it may be, let's look forward to the next levels. We'll focus on the short term.
This is what the Crypto Confluence Detector shows in its latest update:
BTC/USD is balanced after the surge
Bitcoin is currently hugging a cluster of levels around $4,990 where we see the previous 4h-high, the Simple Moving Average 50-15m, the SMA 10-15m, the SMA 10-1h, and the Bolinger Band 15min-Middle.
The initial upside target is $5,099 where we see the previous daily high meet the Bollinger Band 1h-Upper.
Next in line, $5,159 is where the BB 4h-Upper meets the price.
Support awaits at $4,920 where we see a cluster including the BB 15min-Lower, the previous 4h-low, and the SMA 5-4h.
BTC/USD's last significant support is at $4,870 where we see the SMA 100-15m and the Fibonacci 23.6% one-day.
ETH/USD has a clear upside target
Ethereum has some support at $168 which is a cluster of lines including the previous daily high, the BB 15min-Middle, and the SMA 5-1h.
The next considerable cushion is at $162 where we see the Pivot Point one-week R3 meet the Fibonacci 23.6% one-day.
Looking up, the upside target for ETH/USD is obvious: $175 is the confluence of the Pivot Point one-day R1 and the PP one-month R3.
XRP/USD has strong support and no resistance
Ripple has no clear resistance lines but enjoys strong support at $0.3500 where we see the convergence of the Pivot Point one-month Resistance 2, the Fibonacci 23.6% one-day, and the previous 4h-low.
Before this line, it has another, weaker cushion at $0.3530 where the Fibonacci 161.8% one-month meets the previous 1h-low.
Resistance awaits XRP/USD at $0.3714 which is a cluster including the PP one-month R3 and the BB 1h-Upper.
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