Cryptocurrency

Bitcoin, Ethereum Stall After Recent Gains

Bitcoin (BTC/USD) Evaluation

Key Highlights

Bitcoin is buying and selling flat after hitting a multi-month excessive at $48,234. The crypto market gained momentum on optimistic information that Ukraine and Russia might make a deal quickly. Markets will preserve an in depth eye on talks between two nations for additional path.

Technical Evaluation

Intraday development – Bullish

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On the every day chart, the pair is buying and selling above Tenken-Sen ($44,567), Kijun-sen ($42,701), and Ichimoku Kumo cloud ($40,630). It hits an intraday excessive of $47,434 and is at present buying and selling round $47,119.

Main assist is seen at $44,990, any violation under this stage confirms intraday bearishness. A dip until $44,000 / $43,500 / $42,500 / $41,700 is feasible.

The quick resistance is round $48,300, any surge previous targets $50,000 / $52,000. Main bullishness can occur provided that it breaks $52,000, a bounce to $60,000 / $69,000 is probably going.

RSI – Bullish

A potential technique may very well be lengthy on dips $46,000 with SL round $44,500 for TP of $52,000.

ETH/USD Every day Outlook

Key Highlights

Ethereum’s worth has stalled close to the psychological resistance level of $3,500. It hits a low of $3,333 yesterday and is at present buying and selling round $3,402.10.

On the every day chart, the pair is buying and selling above Tenken-Sen ($3,185), Kijun-sen ($2,964), and Ichimoku Kumo cloud ($2,797).

Main assist is seen at $3,275, any violation under this stage confirms intraday bearishness. A dip until $3,150 / $3,000 / $2,940 / $2,880 / $2,800 is feasible.

The quick resistance is round $3,500, any break above will take the pair to $3,512 / $4,000.

RSI – Bullish

A potential possibility may very well be lengthy on dips round $3300 with SL round $3100 for TP of $4000.

Cryptocurrency charts for March thirty first: BTC, ETH, XRP, ADA
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XRP/USD Outlook

Intraday development – Bullish

Key support- $0.70, $0.50

Key Resistance- $0.9125

XRP’s worth draw back is capped by 200-day EMA on the $0.8400 stage. Any every day shut above $0.9050 confirms an extra bullish development, it’s at present buying and selling round $0.86733. Brief-term development reversal provided that it breaches $1.02 (twenty third Dec excessive).

A potential possibility may very well be purchase on dips round $0.8650 with SL round $0.80 for a TP of $1.02.

ADA/USD Outlook

Intraday development – Bullish

Key support- $0.95, $0.80

Key Resistance- $1.30

ADAUSD is consolidating in a slender vary between $1.1246 and $1.1628 for the previous three days. Any breach above $1.3043 confirms additional bullishness, it’s at present buying and selling at round $1.12121. Brief-term development reversal provided that it breaks $1.57.

A potential technique may very well be lengthy round $1.180 with SL round $1.070 for a TP of $1.570.

Bitcoin Help /Resistance

Resistance

R1- $50000
R2- $52000
R3- $60000

Help

S1- $44990
S2- $44500
S3- $43500

Ethereum Help/Resistance

Resistance

R1- $3500
R2- $4000
R3- $4200

Help

S1- $3275
S2- $3150
S3- $3000

See extra on the Newsweek Cryptocurrency Index:

The content material of this text is for informational functions solely and doesn’t represent monetary or funding recommendation. It’s necessary to carry out your individual analysis and think about in search of recommendation from an unbiased monetary skilled earlier than making any funding choices.

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An commercial of Bitcoin, one of many cryptocurrencies, is displayed on a constructing in Hong Kong, on Nov. 18, 2021. Two siblings are accused by the SEC of defrauding traders out of $124 million with their cryptocurrency fraud scheme.
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