Bitcoin (BTC/USD) Analysis
Bitcoin falls on Hawkish Fed comments, other cryptos too follow suit
BTC started to decline after hitting a one-week high. Hawkish comments from Fed Chairman dragged riskier assets like Bitcoin and stocks.
Intraday trend – Bearish
On the daily chart, the pair is trading below Tenken-Sen ($40,763), Kijun-sen ($43,390), and Ichimoku Kumo cloud ($40,637). Bitcoin hit an intraday high of $40,237 and is currently trading around $40,483.
Major support is seen at $39,500. Any violation below that level may take the pair to the April 18th low of $38,547 / $37,000 / $34,000.
The pair is facing a hurdle near the 38.2% fib at $43,391. Any surge past targets $43,500 / $44,000 / $46,200.
RSI – Weak
ETH/USD Daily Outlook
Ethereum once again declined after a minor jump above 200-day EMA. It hits a low of $2,940 and is currently trading around $3,006.95.
On the 4hours chart, the pair is trading below Tenken-Sen ($3,059), Kijun-sen ($3,029.87), and Ichimoku Kumo cloud ($3,046).
Major support is seen at $2,940, any breach below can drag the pair to $2,880 / $2,800. A decline below $2,800 confirms the start of a minor bearish trend. A dip to $2,650 / $2,490 is possible.
The immediate resistance is around $3,170-$3,180. A daily close above can take the pair to $3,270 / $3,310 / $3,400.
RSI – Bullish
A possible option could be long on dips around $2,940 with SL around $2,865 for TP of $3,500.
Intraday trend – Bearish
Key support – $0.70, $0.50
Key Resistance – $0.8000, $0.9150
XRP’s price trades weak for the third consecutive day. Any breach below $0.6800 can take the pair to $0.6000/$0.500, it is currently trading around $0.72634. Short-term trend reversal only if it breaches $0.9200.
A possible strategy could be sell on rallies around $0.7600 with SL around $0.805 for a TP of $0.6000.
Intraday Trend- Neutral
Key Support- $390, $360
Key Resistance- $432
BNB/USD consolidates in a narrow range between $391.40 and $431 for the past ten days. Any daily close above $432 confirms a bullish continuation. A jump to $460/$500 is possible, it is currently trading at around $408.70. Short-term trend reversal only if it breaks $506.
A possible option could be long on dips around $400 with SL around $370 for a TP of $460/$500.
Bitcoin Support / Resistance
Ethereum Support / Resistance
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The content of this article is for informational purposes only and does not constitute financial or investment advice. It’s important to perform your own research and consider seeking advice from an independent financial professional before making any investment decisions.