Bitcoin / US Dollar
The above chart shows that the bears control the market, maintaining it below its 50-day moving average of $42,009 per coin. The Bitcoin market remains bearish though maintaining a level above the $40,000 price mark with the above.
The 21st of April sees substantial bearish momentum after the rejection of an initial bullish start to the market as indicated by the wick above the candle, resulting in a 2.17% drop in the Bitcoin price, bringing its value to $40,480 per coin, with the highest and lowest BTC trading prices standing at $43,000 and $39,744 per coin.
At the start of the 22nd of April, we see continued bearish action, resulting in a minute 0.04% drop in the Bitcoin price, translating to $40,465 per coin, with the highest and lowest trading prices seen standing at $40,802 and $40,145, respectively.
Indicators
Over the two days, the consecutive bearish action sees the bears maintain control of the market momentum, with the relative strength index on the 21st and 22nd of April standing at 43.39 and 43.22, respectively.
The MACD and histogram remain below the zero line, indicating bearish control of the market momentum and a negative outlook for the asset. However, the histogram shows a consistent reduction in the bearish pattern seen in the market.
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Ethereum / US Dollar
The above chart shows the ETH market breaking below its 50-day moving average of $3,005 following significant bearish action on the 21st of April.
On the 21st of April, the bears continued their previous momentum after flipping an initial bullish action, pushing the ETH market below its 50-day moving average. With the above, the bears influenced a 3.03% drop in the ETH price, bringing the price of each coin to $2,983. On the 22nd of April, the bulls are seen initiating a response to bring the ETH market back above its 50-day moving average, resulting in a 0.52% rise in the ETH price, translating to $2,999 per coin, with the highest and lowest price points being $3,033 and $2,968.
Indicators
With the relative strength index of the Ethereum market being below the 50 mark, the bears remain in control of the market momentum.
On the 21st of April, the bearish action resulted in a fall of the RSI to 43.85, while the bullish action on the 22nd of April resulted in an RSI of 44.73.
The MACD and histogram remain below the zero line, indicating bearish dominance of the market momentum.
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Ripple / US Dollar
The above chart shows the Ripple market in firm control of the bears over the last few days, maintaining the market below its 50-day moving average of $0.783 per coin and in a downtrend. With the above statement, the bearish dominance over the Ripple market continued on the 21st and 22nd of April, resulting in the market dropping by 2.60% and 1.06%, corresponding to a price tag of $0.732 and $0.724 on these respective days.
Indicators
With the bears being the dominant force in the Ripple market over the last few days, we see a reflection of this negative price action on the relative strength index as its value on the 21st, and 22nd of April (42.58 and 41.36) placed significantly below the 50 mark.
In correlation to the RSI, the histogram and MACD indicate a growing bearish hold of the market. Both indicators stand below the zero line, indicating a negative outlook for the asset.
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Litecoin / US Dollar
From the above chart, the bears continued their previous momentum on the 21st of April, resulting in massive negative price action, bringing the Litecoin market well away from its 50-day moving average of $113 per coin. With the above move, the Litecoin market fell by 4.62%, bringing the Litecoin price to $106 per coin.
On the 22nd of April, the bulls are seen initiating a response to the bears, influencing a 1.01% increase in the LTC price, translating to $107 per coin. With much time before the end of the day, the bulls may aim to take the LTC market back above its 50-day moving average.
Indicators
Due to the dominance of negative price action in the market, the relative strength index of the LTC market remains below the 50 mark, with its values on the 21st and 22nd of April standing at 42.79 and 44.06, respectively. With the above, the bears remain in control of the market momentum.
In agreement with the RSI, the MACD and histogram show growing bearish activity in the market, providing a negative outlook for the asset.
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Bitcoin Cash / US Dollar
The Bitcoin Cash market experienced significant bearish action on the 21st of April after rejecting a bullish head start to the day, resulting in the market falling below its 50-day moving average of $330 per coin. The Bitcoin cash market fell by 4.50%, translating to $315 per coin with the above move. Due to the bearish dominance of the previous day, we see the bulls responding on the 22nd of April, resulting in a 2.46% increase in the Bitcoin Cash price to $323 per coin. Despite the bullish dominance of the day, the bears rejected the BCH price from the $334 per price mark (above its 50-day moving average) as indicated by the wick above the candle.
Indicators
The BCH relative strength index portrays a market in bearish control with a value below the 50 mark; however, due to bullish activity on the 22nd of April, we see the RSI progress towards the 50 market. With the above, the RSI on the 21st and 22nd of April portray the volatility seen in the market, corresponding to 42.45 and 45.50 on these respective days.
The MACD and histogram remain below the zero line, maintaining the bears in control and a negative outlook for the Bitcoin Cash market.
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Cardano / US Dollar
The ADA market remains below its 50-day moving average of $0.974, maintaining that the bears control the market momentum.
On the 21st of April, the bears began a momentum, resulting in a 2.83% drop in the market, bringing the ADA price to $0.910 per coin. On the 22nd of April, we see the bulls initiating a momentum resulting in the ADA price rising by 0.29%, bringing its price to $0.912 per coin. With the market still far from its close, the above value is likely to change. Nevertheless, as of the writing of this piece, the highest and lowest ADA prices stand at $0.924 and $0.905, respectively.
Indicators
On the 21st of April, bearish price action saw the relative strength index fall to 40.14, and with the budding bullish momentum on the 22nd of April, we saw the RSI rise to 40.61.
The MACD and Histogram show a bearish dominance, while the recent bullish action reflects a reduction in the bearish activity in the market.
Swap to ADA
Dogecoin / US Dollar
The bears continued their previous momentum on the 21st of April, resulting in a 3.13% drop in the Dogecoin price, translating to $0.136 per coin. The highest and lowest Dogecoin trading prices for the day stood at $0.143 and $0.134, respectively.
At the start of the 22nd of April, we see continued bearish action, resulting in a 0.37% drop in the Dogecoin price, bringing its price to $0.135 per coin, with the highest and lowest trading prices standing at $0.138 and $0.135, respectively.
indicators
On the 21st and 22nd of April, the bearish action resulted in the RSI falling to 46.93 and 46.69, depicting growing bearish activity in the market as the RSI is maintained below the 50 mark.
The MACD stands above the zero line, indicating slight bullish dominance. However, we see the histogram in the bearish territory due to previous bearish action.
Swap to DOGE
Correlations
- Bitcoin / Ethereum = 0.88
- Bitcoin / Ripple = 0.73
- Bitcoin / Litecoin = 0.83
- Bitcoin / Bitcoin cash = 0.64
- Bitcoin / Cardano = 0.78
- Bitcoin / Dogecoin = 0.81
Keynotes for today
- Bitcoin at $40,465 per coin.
- Ethereum at $2,999 per coin.
- Ripple at $0.724 per coin.
- Litecoin at $107 per coin.
- Bitcoin Cash at $323 per coin.
- Cardano at $0.912 per coin.
- Dogecoin at $0.135 per coin.
