Bitcoin (BTC), XRP (XRP) & Ethereum (ETH)

Bitcoin (BTC)

Bitcoin (BTC) has been on a downtrend for the past 24-hours. In this period, it has been trading along the 200-day MA, hitting it several times but it has failed to push above it. This is an indicator that bears are still in control of the market. If within the next 24-hours Bitcoin (BTC) fails to break above the 200-day MA at $3693.2, it will be an indicator of a possible bearish breakout. It would be a signal to go short on Bitcoin with a target of $3578. This is the next key support level for Bitcoin (BTC) in the day, and a possible exit point from a short-term sell position.

 

 However, in the scenario that Bitcoin (BTC) pushes above the 200-day MA at $3693.2 with high volumes, it would be a signal of increased bullish momentum. This bullish signal would be confirmed by Bitcoin (BTC) pushing above the 6-day high of $3799.2. This would be a trigger to go long with a target of $4159. This is a key resistance level for Bitcoin (BTC) on the 12-hour chart. If it breaks above this level, then it would be a signal that bulls are fully in control, and Bitcoin (BTC) could test highs of $4500 or higher.

 

XRP (XRP)

XRP (XRP) has been heavily bearish for the past 24-hours. In this period, it has dropped from a high of $0.337 to a low of $0.323. This drop has also seen it form lower highs, an indicator that bears are strong in the market. To go short on XRP (XRP), its current price of $0.327, which is a lower high makes for a good entry point. Such a position would have a good exit point at $0.320. This is a key support level for XRP (XRP) in the day. If it breaks below this level, then XRP (XRP) could possibly drop to $0.291. This is the next key support level for XRP (XRP) on the 6-hour chart.

 

 

 

However, in the event that XRP (XRP) gains bullish momentum and pushes above the day’s major resistance at $0.333, and extends those gains above the 6-day high of $0.347, it would a trigger to go long on XRP. A long position at this price level would have a good exit point at $0.386. This is a key resistance level for XRP (XRP) on the 6-hour chart, and a possible reversal point in the day.

 

Ethereum (ETH)

Ethereum (ETH) has been on a downtrend for the past 6-days, and volumes remain depressed. In the last 24-hours, Ethereum (ETH) has dropped from a high of $127.9 to a low of $120.3, while forming lower highs. This means that Ethereum’s current price of $121.39 makes for a good entry point into Ethereum (ETH) with a target of $117.48. This is a key support level for Ethereum (ETH) on the 6-hour chart. If it breaks this level, then the next key support level could be at $86.43.

 

 

 

On the other hand, if Ethereum (ETH) gains bullish momentum, pushes above the 200-day MA at $125.90, and extends above the 6-day high of $134.61, it would be a trigger to go long. A long position at this price level would have a good exit point at $153.49. This is a key resistance level for Ethereum (ETH) on the 12-hour 200-day MA. 

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