Ripple, Ethereum, Bitcoin, Bitcoin Cash analysis price Monday, April 16 2018

Analysis of the Ripple price

The price of the Ripple reports an increase in the report, a slight decrease of 1.45%, but continues in a positive trend, positioning the price above $ 0.69.

Highlights

  • The Ripple price gained momentum recently and moved towards the level of $ 0.7000 against the US dollar.
  • The XRP / USD pair currently trades below a short-term uptrend line with support at $ 0.6800 on the hourly chart.
  • The pair may decrease in the short term, but remains compatible above the $ 0.6200 level.

The expansive XRP dl price fell recently in a bullish area against the US dollar and Bitcoin. XRP / USD could correct lower, but the disadvantages are probably limited below $ 0.6000.

Ripple price support

There was a new positive wave initiated above the level of $ 0.6000 in the price of the XRP against the US dollar. The price rose more and broke some important resistance, such as $ 0.6500 and $ 0.6600. It was negotiated near the $ 0.7000 level before facing the sellers. A maximum was formed at $ 0.6993 before the price started a downward correction. It was reduced and traded below the Fibonacci retracement level of 23.6% of the last wave, from the minimum of $ 0.6238 to the maximum of $ 0.6993.

In addition, the XRP / USD pair currently trades below a short-term uptrend line with support at $ 0.6800 on the hourly chart. However, there are many downward supports around the $ 0.6200 level. Initial support is close to the 50% Fibonacci retracement level of the last wave from the low of $ 0.6238 to $ 0.6993 high to $ 0.6610. However, the most important support is above the $ 0.6200 level and the simple 100-hour moving average. It will not be easy for sellers to break the pivot level of $ 0.6200.

 

Looking at the chart, the pair can further correct in the short term towards $ 0.6200 before rising again. On the positive side, the price faces resistances close to the levels of $ 0.6800 and $ 0.7000. Above $ 0.7000, the price will probably prove the $ 0.7500 level.

Technical indicators

  • MACD per hour: MACD for XRP / USD moves slowly in the bearish zone.
  • Hourly RSI (relative strength index): the RSI for XRP / USD is now below level 50.
  • Main support level: $ 0.6200
  • Highest resistance level – $ 0.7000

Analysis of the Ethereum price

The price of the Ethereum is positioned with a price above $ 512 dollars, reporting a slight setback of 1.33%.

Highlights

  • The ETH price remained well supported and was recently negotiated towards the level of $ 540 against the US dollar.
  • A key bullish trend line is forming with support at $ 510 on the ETH / USD time chart.
  • The pair is currently correcting to the downside, with downward supports near the levels of $ 510, $ 500 and $ 490.

The price of Ethereum is positioned very well against the US dollar and Bitcoin. ETH / USD can correct lower, but remains in an uptrend above the support level of $ 490.

Ethereum price support

The last sessions were positive for the ETH price above the level of $ 500 against the US dollar. The price extended the gains and was traded above the last maximum of $ 533. However, the movement was contained and the price negotiated as high as $ 537.81. Later, a downward correction was initiated and the price decreased below $ 530. It also traded below the Fibonacci retracement level of 23.6% of the last tranche from the minimum of $ 481 to the maximum of $ 537.

However, the downward movement is still limited, as there are many supports close to $ 500. A key uptrend line is also being formed with support at $ 510 on the ETH / USD time chart. In addition, the 50% retracement level of the last tranche, from the minimum of $ 481 to the maximum of $ 537, also approaches $ 509. Therefore, a break below $ 509-510 will not be easy . If sellers manage to push the price below $ 509, it could return to the $ 500 level. The next important support is close to the $ 490 level and the 100-hour simple moving average.

Looking at the chart, the current price action is positive above $ 490. However, the price must gain traction above the resistance zone of $ 535-540 to get more profit. Above the resistance of $ 540, there are many chances of a bullish break above the $ 550 level.

Technical indicators

  • MACD per hour: the MACD is currently in the bearish zone.
  • RSI per hour: the RSI has moved well below level 50.
  • Main support level: $ 490
  • Highest resistance level – $ 540

 

Bitcoin price analysis

The price of Bitcoin remains above $ 8080 reporting a slight decline of 2.08% in today’s day Monday.

Highlights

  • The price of Bitcoin has recently surpassed the resistance around $ 7,400, but could be due to a setback.
  • The application of the Fibonacci retracement tool in the last low and high oscillation shows the possible correction areas.
  • The technical indicators suggest that the upward trend could continue from here.

The price of Bitcoin made a strong rally last week and more buyers may be waiting to join a setback.

Technical indicators

The SMA 100 is above the longer term SMA 200 to indicate that the path of least resistance is upward. In other words, climbing is more likely to resume than vice versa. The gap between moving averages is widening to reflect the strengthening of bullish pressure.

The 100 SMA is slightly above 38.2% of the Fibonacci retracement level to add an additional support zone. The 200 SMA is closer to the 61.8% Fib and the previous resistance zone, so it is the line in the arena for a correction. A break below the region of $ 7000-7200 could indicate that the bears are strengthening again.

The stochastic is in motion to show that buyers are taking a break and allowing sellers to take over from here. RSI is also falling, but approaching oversold levels, suggesting that bullish pressure could return soon and push the price of Bitcoin to the maximum and beyond.

Market factors

The price of Bitcoin has undone its decline that is stimulated by the impending tax filing deadline on April 17. Traders are anticipating more gains for the cryptocurrency after the deadline and investors reopen their positions. In addition, Q2 has historically been positive for the Bitcoin price, so it will not be surprising if investors accumulate their bets before the end of the period.

Analysts are also picking up the rebound in Bitcoin volumes, despite recent bans in India and Pakistan. Regulatory nerves are still at stake, but this seems to be overcome by the news that large hedge funds are preparing to invest more in space.

 

Analysis of the Bitcoin Cash price

The value of Bitcoin Cash (BCH) today, Monday, April 16, 2018 is trading above $ 770, reporting a slight retreat of 0.55%, which practically did not move the value to any part.

 Highlights
  • The price of the BCH extended the gains and tested the resistance area of $ 800 against the US dollar.
  • There is an important contract triangle that is formed with a support close to $ 775 in the hourly chart of the BCH / USD pair.
  • The pair can correct some points in the short term, but it is still compatible with more than $ 740.

The price of Bitcoin Cash is very well placed in an uptrend above $ 740 against the US dollar. BCH / USD must overcome the obstacle of $ 800 to obtain more profits in the short term.

Bitcoin Cash price support

There was a decent upward movement in the BCH price above the $ 780 level against the US dollar. The price exceeded the last maximum swing and tested the resistance area of $ 800. However, the price did not exceed the aforementioned resistance of $ 800 and there was a slight bearish reaction. A short-term ceiling was formed near the $ 799.9 level before the price started a downward correction.

It was negotiated below the Fibonacci retracement level of 23.6% of the last rising wave from the low of $ 720 to $ 799 high. For the moment, sellers are trying to close below a large trading triangle that is formed with support close to $ 775 on the hourly chart of the BCH / USD pair. A successful close below the mentioned level of $ 775 could push the price towards the next support close to $ 750. The Fibonacci retracement level of 61.8% of the last upward wave from the minimum of $ 720 to $ 799 is also of around $ 750.

Looking at the table above, a major support is close to the $ 740 level and the 100-hour simple moving average. Therefore, as long as the price is higher than $ 740, it is still compatible with a discount higher than $ 800. On the positive side, the rising resistances are $ 780, $ 800 and $ 820.

Technical indicators

  • MACD per hour: MACD for BCH / USD is slightly in the bearish zone.
  • Hourly RSI (relative strength index): the RSI for BCH / USD fell sharply towards level 40.
  • Main support level: $ 740
  • Highest resistance level: $ 800