BTCUSD closed the day at $33,769, up 2.81 percent from a few days earlier and reversing a 3.04 percent dip from the previous week Thursday. BTCUSD had a rocky start to the day, falling to a low of $32,237 in the early morning before making a move.
Bitcoin surged to a late full-time high of $34,059, avoiding the first significant support barrier of $31,967. Before dropping down to sub-$33,800 levels, BTCUSD broke over the first major resistance mark at $33,843.
Despite the recent recovery to $32,000 levels, the near-term bullish trend stayed intact. For the bears, a persistent drop through the 62 percent Fibonacci of $27,237 would be required to establish a near-term bearish trend.
BTCUSD fell to an early morning low of $33,694.0 before rebounding to a high of $34,015, indicating a mixed start to the day. Early on, BTCUSD did not test the main support and resistance levels. A bullish start to the day was seen elsewhere.
To reach the first big resistance level at $34,473, BTCUSD would have to dodge the $33,355 pivot. For Bitcoin to break out from Friday's high of $34,059, it will require support from the rest of the market.
If there isn't a broad-based crypto recovery, the first big resistance level will almost certainly restrict any further gains. Before any retreat, Bitcoin may hit resistance above $36,000 levels in the case of a sustained crypto rise. $35,177 is the second big resistance level.
If the price falls below the pivot at $33,355, the first significant support level at $32,651 will be tested. BTCUSD should not experience another dip below $32,000 unless there is a significant sell-off throughout the day. Another level of support is $31,533.
The RSI index shows some hope, with the curve heading back to the 46% mark, indicating that there will be little to benefit from in the next few days.
The MACD signal is still negative, with some degree of stability over the last few days. This can be seen from the steady height of the histogram and the curves almost intersecting at the same point.
Above the $2,300 barrier, there was no significant rebound in ETH. ETH continued in a negative zone, and it broke through the major $2,200 support zone, identical to bitcoin, to move further into a bearish zone.
The price fell below the $2,150 support level and below the 100 hourly simple moving average. The price tested $2,050 after a surge below $2,100. The price has made a bottom near $2,049 and is presently reversing losses.
It broke through the $2,100 barrier. The latest fall from the $2,406 swing high to the $2,049 low was broken above the 23.6 percent Fibonacci retracement level. On the hourly chart of ETH/USD, it is currently testing a connecting bearish trendline with resistance at $2,150.
Near the $2,100 level, there is instant support. The $2,050 level is the first major support. The primary support is presently approaching $2,000, which is a good level to be in. There is a possibility of a severe drop if the price breaks underneath the $2,000 support zone. Near the $1,850 level, the next significant support is found.
The RSI index for ETHUSD hovering at the 46% mark is showing some indecisiveness. Also, a struggle for the pair as every time there is a movement upward, almost an opposite force counters it.
MACD remained negative with some degree of convergence in the curve.
Last Friday, XRPUSD pumped by 2.72 percent. Ripple's XRP closed the day at $0.63846, somewhat recovering a 4.32 percent drop from Thursday. Before making a move, XRP fell to an intraday low of $0.59227, indicating a negative start to the day.
XRPUSD dipped through the first significant support level at $0.6058 before climbing to an intraday high of $0.64521 in the middle of the afternoon.
XRPUSD dipped to $0.62 levels before closing the day at $0.63 levels after falling short of the first significant resistance mark at $0.6478. It was up 0.10 percent to $0.63909 at the time of writing. XRPUSD rose from an early morning low of $0.63675 to a high of $0.63909 in a range-bound start to the day. Slightly earlier, XRPUSD did not challenge the main support and resistance levels.
To reach the first significant resistance level at $0.6584, XRPUSD will have to dodge the $0.6253 pivot. Support from the rest of the market, on the other hand, would be required for XRPUSD to reclaim $0.65 levels. If there isn't a long-term crypto rise, the first big resistance level will likely restrict any further gains.
XRPUSD might hit the second major resistance level at $0.6783 if it breaks out again. If the price falls below the pivot at $0.6253, the first significant support level at $0.6054 will be tested. It should avoid the second key support level around $0.5724 unless there is another protracted sell-off.
The RSI index hovered around 41, giving the hodlers a ray of optimism.
The MACD signal approaches the positive barrier, indicating that the market is about to take a stride forward and reach higher price levels.
A few days ago, LTCUSD increased by 1.88 percent. LTCUSD closed the day at $134.61, somewhat recovering a 3.91 percent loss. LTCUSD had a rocky start to the day, falling to an intraday low of $126.08 before rising.
Before rebounding to a late high of $135.80, LTCUSD dropped below the first significant support barrier at $127.
LTCUSD fell to $134 levels after falling short of the first major resistance level at $137.
LTCUSD was up 0.31 percent to $135 at the time of writing. LTCUSD had a rocky start to the day, falling to a low of $134.45 in the early morning before recovering to a high of $135.26.
Slightly earlier, LTCUSD did not challenge the main support and resistance. To reach the first significant resistance level at $138, LTCUSD would have to avoid the $132 pivot. However, for LTCUSD to break out from the previous high of $135.80, it would require support from the larger market.
The first big resistance level and the barrier would likely restrict any gains unless there was a sustained crypto surge. LTCUSD might hit resistance at $145 if it extends its breakthrough. $142 is the second significant resistance level. If the price falls below the $132 pivot, the first significant support level at $129 will be tested.
However, unless there is another protracted sell-off, LTCUSD should avoid falling below $125.
The RSI index rose to 41 and indicated that the following several days would be expected. Investor optimism over its short-term perspectives is reduced by the negative MACD indicator. This is more likely a general thing for almost all coin pairs following the bull run, the bar got raised and most of them are now trading below their moving average prices.
3.50 percent of BCHUSD dipped. Bitcoin's cash price was very resistant after an extent of over 520 dollars. BCH had a hard time clearing the $550 area and began a severe decrease.
The downside of this break was far lower than $520 and $500. The pair decreased from a low of 388 dollars to a high of 548 dollars below the 23.6 percent barrier in Fibonacci retracement. The four-hour charts of the BCH/USD pair also showed a breach below a significant torrid trend of about $ 510.
The couple are now trading less than $500. An immediate downside support is close to $465. The Fibonacci rush from 388 dollars down to 548 dollars is 50 percent upwards.
Above $480, the price may begin a new upward trend. Near the $500 level and the 55 Simple Moving Average, the next big resistance is seen. A closing over $500 would likely drive the price up to $520. If there are further rises, the price may approach $550 in the near future. Near the $600 level, the next big resistance is seen.
The RSI index hovers around 42, indicating that the price will continue to move in the same direction.
The MACD is negative, which implies that it is aligned with the rest of the market. The coming days will most likely give clearer insights into the market trends.
Bitcoin / Ethereum = 0.76
Bitcoin / Ripple = 0.49
Bitcoin / Litecoin = 0.74
Bitcoin / Bitcoin Cash = 0.76
The connections have turned topsy-turvy since the beginning of the month, implying that Bitcoin unwittingly decides the final fate of other coins in the market. As a result, if Bitcoin has a negative season, the rest of the market is likely to follow suit.
In the previous several days, Altcoins such as ETH and BCH have formed a strong association with Bitcoin. This means that the market will most likely continue in the same way if another positive trend emerges in the near future. As a result of the compression, we expect the correlation field to grow even more in the following days.
Bitcoin may hit resistance above $36,000 levels in the case of a sustained crypto rise. $35,177 is the second big resistance level.
Ethereum has plummeted by almost 10% of its value and has even fallen below the $2,100 support level.
XRPUSD might hit the second major resistance level at $0.6783 if it breaks out again.
