Bitcoin breaks below the $45,000 price mark

News • 2022/04/08 • by

Bitcoin / US Dollar

Following the massive bearish action over the last few days, we see the Bitcoin bulls attempting to revive the market with consecutive bullish activities over the last two days.
The 7th of April sees bullish momentum resulting in a 0.66% drop in the Bitcoin price, bringing its value to $43,452 per coin, with the highest and lowest BTC trading prices standing at $43,908 and $42,734 per coin.
At the start of the 8th of April, we see continued bullish action, resulting in a 0.24% increase in the Bitcoin price, translating to $43,558 per coin, with the highest and lowest trading prices seen standing at $43,706 and $43,309, respectively.

Indicators

Over the last few days, the bearish action sees the Bitcoin RSI fall below the 50 mark, indicating bearish dominance of market momentum. The RSI seen on the 7th and 8th of April stands at 47.97 and 48.41, reflecting increasing bullish activity in the market. The MACD shows bullish momentum dominance as it stands above the zero line, creating a positive outlook for the asset. However, we see the histogram in the bearish territory due to recent bearish action while the MACD deflects to the downside.

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Ethereum / US Dollar

On the 7th of April, the bulls started a momentum after flipping an initial bearish start to the market indicated by the wick below the candle. With the above, the bulls influenced a 1.86% rise in the ETH price, bringing the price of each coin to $3,227. On the 8th of April, the bulls continued their previous momentum, resulting in a 1.25% rise in the ETH price, translating to $3,267 per coin, with the highest and lowest price points being $3,277 and $3,216.

Indicators

The relative strength index of the ETH market remains within the bullish territory as the RSI stands above the 50 mark.
On the 7th and 8th of April, the bullish activity in the market resulted in the relative strength index rising, standing at 53 and 54.
The MACD is placed above the zero line, indicating bullish dominance of the market momentum. However, the histogram falls below the zero line due to recent bearish action, indicating bearish momentum.

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Ripple / US Dollar

On the 7th of April, the bulls flipped an initial bullish market as indicated by the wick above the candle, and With the continued bullish dominance of the day, the XRP market rose by 3.62%, bringing the assets price to $0.787 per coin. On the 8th of April, a budding bearish action resulted in a 0.22% drop in the XRP price, translating to $0.786 per coin. The bears are attempting to get the XRP market well below its 50-day moving average of $0.785. Nevertheless, the highest and lowest price points stand at $0.793 and $0.784.

Indicators

On the 7th of April, the bullish action resulted in a rise of the RSI to 45.68. With the bearish action on the 8th of April, the RSI has now fallen to 45.38, indicating bearish dominance of market momentum.
The histogram remains in the bearish territory (below the zero line), while the MACD remains positive as it's above the zero line. However, sustained bearish action could see it break below the zero line.

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Litecoin / US Dollar

The bulls are seeing initiating momentum to get the Litecoin market back above its 50-day moving average of $113 per coin.
On the 7th of April, the bullish action saw the Litecoin market rise by 2.23% after flipping an initial bearish start to the day, translating to $114.17 per coin. On the 8th of April, the Litecoin market saw more bullish activity, placing the market 0.33% higher, translating to $114.55 per coin, with the highest and lowest price points at $114 and $113, respectively.

Indicators

The relative strength index has fallen below the 50 mark, indicating the dominance of the bears over the market.
On the 7th and 8th of April, sustained bullish action resulted in a rise of the RSI to 43 and 44, respectively.
The histogram remains below the zero line due to consecutive bearish action. At the same time, the MACD portrays a market in bullish grasp as it stands above the zero line, creating a positive outlook for the market.

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Bitcoin Cash / US Dollar

On the 7th of April, the bulls initiated a momentum that saw the Bitcoin Cash market rise by 1.54%, bringing the asset's price to $336 per coin. The wick above the candle indicates a bearish attempt to reduce the day's gains. On the 8th of April, the bulls continue their previous momentum, resulting in a 0.52% rise in the market, placing the Bitcoin Cash price at $337 per coin. The wick above and below the candle denote the highest and lowest price points seen, corresponding to $337 and $334.
The Bitcoin Cash market remains above its 50-day moving average of $325, reflecting bullish market control.

Indicators

The bullish action on the 7th and 8th of April resulted in a rise of the relative strength index to 45.02 and 45.74. With the RSI below 50, the market is now bearish.
The MACD portrays a market in a bullish grasp as it stands above the zero line, creating a positive outlook for the market. However, due to the recent bearish action in the market, the MACD deflects towards the zero line. At the same time, the histogram is placed below the zero line, indicating increasing bearish action in the market.

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Cardano / US Dollar

On the 7th of April, the bulls started a momentum, resulting in a 3.51% rise in the market, bringing the ADA price to $1.089 per coin. On the 8th of April, we see the bulls attempting to start a momentum resulting in the ADA price rising by 0.08%, bringing its price to $1.090 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 $1.098 and $1.081, respectively.

Indicators

On the 7th and 8th of April, bullish price action sees the relative strength index rise though maintaining a level below the 50 mark, corresponding to 52.18 and 52.31, depicting a slight growth in the bullish activity in the market.
The MACD is placed above the zero line, indicating bullish dominance of the market momentum. However, the Histogram shows a bearish shift, indicating growing bearish activity in the market in the immediate term.

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Dogecoin / US Dollar

The bulls initiated a momentum on the 7th of April, resulting in a 1.81% rise in the Dogecoin price, translating to $0.146 per coin. The highest and lowest Dogecoin trading prices for the day stood at $0.148 and $0.140, respectively.
At the start of the 8th of April, we see continued bullish action, resulting in a 4.25% rise in the Dogecoin price, bringing its price to $0.152 per coin, with the highest and lowest trading prices standing at $0.153 and $0.145, respectively.

Indicators

On the 7th and 8th of April, the RSI stands at 54.53 and 56.52, depicting a slight increase in the growing positive market.
The MACD and histogram stand well above the zero line, indicating bullish dominance.