Bitcoin prices are still in the positive zone above the resistance zone of $26200, with a strong break above $27000 before bearish positions appeared near $27500. Forming a high near $27468, the price has recently corrected its increase
Bitcoin prices are still in the positive zone above the resistance zone of $26200, with a strong break above $27000 before bearish positions appeared near $27500. Forming a high near $27468, the price has recently corrected its increase. Falling below the $27000 level. The price fell below the 50% Fib retracement level, which fluctuated from a low point of $26412 to a high point of $27468.
Bitcoin currently trades at prices above $26550 and the 100 hour simple moving average. A key bullish trend line has also formed on the hourly chart of the BTC/USD currency pair, with support around $26600.
Currently, the price is at a 76.4% Fib retracement level, moving upwards from a fluctuating low of $26412 to a high of $27468. It is consolidating profits and may see new growth. The direct resistance to the upward trend is around $26950.
The first major resistance level is located near the $27500 area, and prices may rise after breaking through this resistance level. The next key resistance level may be around $28200. A clear break through the $28200 resistance level may push the price towards the $29000 resistance level.
The next major resistance level is close to $29500, and bulls above this resistance level may gain strength. In the above situation, the price may be tested at a level of $30000.
Is there more downside space for Bitcoin?
If Bitcoin fails to start a new rise above the resistance level of $26950, it may continue to decline. The direct support for the downward trend is located near the $26600 level and trend line. The next major support level is around $26500. A downward breakthrough and closing below $26500 may push the price to the next support level of $26000.
Technical indicators:
Hourly MACD - MACD is now losing speed in bullish areas.
Hourly RSI (Relative Strength Index) - The RSI for BTC/USD is currently close to the 50 level.
The main support level is $26600, followed by $26500.
Main resistance levels - $26950, $27200, and $27500.
Ethereum pricing regains support
Ethereum prices have started to rise significantly above the resistance level of $1620. Before the emergence of bears, ETH even climbed above the resistance level of $1650 like Bitcoin.
During the upward trend, the ETH/USD hourly chart broke the key bearish trend line, with resistance around $1628. However, bears defended the resistance level of $1670. A high was formed near $1669, and prices began to decline and correct.
Falling below the $1650 level. The price fell below the 50% Fib retracement level, which moved upward from a fluctuating low of $1613 to a high of $1669.
The current trading price of Ethereum is above $1630 and the 100 hour simple moving average. It also traded near the 61.8% Fib retracement level, which moved upwards from a fluctuating low of $1613 to a high of $1669. On the positive side, the price may face resistance around $1650.
The next resistance level is around $1670. Closing above the $1670 resistance level may push the price towards the $1720 resistance level. The next major obstacle is around $1750. If the closing price exceeds $1750, Ethereum may further rise to $1880 in the coming days.
Will ETH continue to decline?
If Ethereum fails to break through the resistance level of $1650, it may start another decline. The initial support for the downward trend is around the $1630 level and the 100 hour simple moving average.
The first key support level is close to $1620. The next key support level is $1600. Falling below $1600 may trigger another wave of bearish sentiment.
Technical indicators
The hourly RSI - ETH/USD RSI is currently below the 50 level.
Main support level - $1620
Main resistance level - $1670
XRP Price Forecast - Will it break through this key resistance level and rebound?
In the last XRP price forecast, we discussed the possibility of Ripple's XRP rising against the US dollar. The price does indeed follow a positive path above the $0.480 pivot level, just like Bitcoin and Ethereum.
Clearly breaking through the resistance zone of $0.50. It climbed above the 50% Fib retracement level, which was a key decline (from a fluctuating high of $0.5491 to a low of $0.4590). Bulls are currently attempting to break through the resistance level of $0.515.
XRP's current trading price is above $0.500 and the 100 simple moving average (4 hours). In addition, a bullish trend line was formed on the 4-hour chart of the XRP/USD currency pair, with support around $0.500.
On the positive side, direct resistance is around $0.515. It is close to the 61.8% Fib retracement level, which is a key decline from the fluctuating high of $0.5491 to the low of $0.4590. The next major resistance level is around $0.5250. Closing above the $0.525 level may push the price towards the $0.550 level.
Successfully breaking through the $0.550 resistance level may begin a strong rebound to the $0.585 resistance level. Any further increase may require testing the resistance level of $0.600.
Is XRP's decline limited?
If the Ruibo coin fails to break through the resistance zone of $0.515, it may start a downward correction. The initial support for the downward trend is located in the $0.50 area and near the trend line.
The next main support level is $0.490. If there is a downward breakthrough and the closing price is below $0.490, the price of XRP may expand its losses.
Technical indicators
The 4-hour MACD - XRP/USD MACD is currently accelerating in bullish areas.
4 Hour RSI (Relative Strength Index) - The RSI for XRP/USD is currently above the 50 level.
Main support levels - $0.500, $0.490, and $0.458.
Main resistance levels - $0.515, $0.525, and $0.550.
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