Crypto Market Seeks Fresh Direction
(Source: forbes.com)

clicks | 9 days ago | Google AI sentiment 0.80 | comments: discuss | tags: bitcoin cryptocurrency ethereum


Article preview (bot search)

(Original link: forbes.com)

New highs made, sharp reversals dealt with and now awaiting fresh direction, albeit at still elevated levels. Price action over Friday and into the weekend is muted as if the market is taking a well-earned rest. Weekend price action has been limited with Bitcoin (BTC) trading close to $5,100 and Ethereum (ETH) at $165. The magnitude of the recent rally and BTC aside, the pullbacks, have traders a little cautious.
The major support and resistance levels sit an uncomfortable distance away and with little in the way of market news, traders will be mindful of entry and exit levels. Heading into the new week, expect possible dips to still be well supported at $4,700 in BTC and $154 in ETH. $5,800 and $187 could be tough resistance.
Technical Analysis
Of all the major coins, XRP has benefitted least from the recent broad rally. It seems it has failed to capitalize from the sudden crypto euphoria. The $0.3800 continues to provide stiff resistance and was only briefly tested. To the downside, $0.2780 could provide major support.
On the 2H chart below you can also see ETH (in orange) superimposed over the top of XRP (green and red). Since the middle of February, ETH has far outperformed. Technically there is little to suggest this trend will change anytime soon.
15 April 2019, David Hannigan. trade.io
15 April 2019, David Hannigan. trade.io
Sunday’s biggest winner and loser
Sunday’s biggest winner and loser With additional commentary & technical analysis by David Hannigan, Chief Dealer, trade.io.
Disclaimer: All opinions expressed by Jim Preissler are solely his opinions and do not reflect the opinions of Forbes, Forbes CryptoMarkets, their parent company or affiliates....

Resources