The Crypto Daily – Movers and Shakers – April 11th, 2021

Bitcoin, BTC to USD, rose by 2.89% on Saturday. Following on from a 0.04% gain on Friday, Bitcoin ended the day at $59,812.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $57,900.0 before making a move.

Steering clear of the first major support level at $57,602, Bitcoin rallied to an early morning intraday high $61,243.0.

Bitcoin broke through the day’s major resistance levels to come within range of the March swing hi $61,699.0 before hitting reverse.

The reversal saw Bitcoin slide back to sub-$58,500 levels before finding support.

Bitcoin broke back through the first major resistance level at $58,777 and the second major resistance level at $59,420 to end the day at $59,800 levels.

The near-term bullish trend remained intact supported by the latest move back through to $61,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Polkadot fell by 0.88% to buck the trend on the day.

It was a bullish day for the rest of the majors, however.

Ripple’s XRP surged by 34.82% to lead the way, with Litecoin rallying by 15.75%.

Binance Coin  (+3.96%), Crypto.com Coin (+2.81%), and Ethereum (+3.22%) made relatively solid gains.

Bitcoin Cash SV (+0.32%), Cardano’s ADA (+1.21%), and Chainlink (+1.03%) trailed the front runners, however.

In the current week, the crypto total market fell to a Wednesday low $1,782bn before rising to a Saturday high $2,064bn. At the time of writing, the total market cap stood at $2,010bn.

Bitcoin’s dominance rose to a Monday high 58.43% before falling to a Saturday low 55.40%. At the time of writing, Bitcoin’s dominance stood at 56.29%.

This Morning

At the time of writing, Bitcoin was up by 1.22% to $60,541.0. A mixed start to the day saw Bitcoin fall to an early morning low $59,651.0 before rising to a high $60,624.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.12%), Litecoin (-1.77%), and Polkadot (-2.42%) saw red to buck the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Ripple’s XRP was up by 4.74% to lead the way.

BTCUSD 110421 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall back through the pivot level at $59,652 to bring the first major resistance level at $61,403 into play.

Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $61,243.0.

Barring an extended crypto rally, the first major resistance level and resistance at the March swing hi $61,699 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $65,000 before any pullback. The second major resistance level sits at $62,995.

Failure to avoid a fall back through the $59,652 pivot would bring the first major support level at $58,060 into play.

Barring another extended sell-off on the day, Bitcoin should steer well clear of the second major support level at $56,309.

The Crypto Daily – Movers and Shakers – April 10th, 2021

Bitcoin, BTC to USD, rose by 0.04% on Friday. Following on from a 3.84% gain on Thursday, Bitcoin ended the day at $58,134.0.

A mixed start to the day saw Bitcoin fall to a late morning intraday low $57,713.0 before making a move.

Steering clear of the first major support level at $56,498, Bitcoin rallied to a late morning intraday high $58,777.0.

Falling short of the first major resistance level at $58,939, Bitcoin eased back to sub-$58,000 levels.

Finding late support, however, Bitcoin broke back through to $58,000 levels to end the day flat.

The near-term bullish trend remained intact in spite of the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Friday.

Binance Coin  and Bitcoin Cash SV rallied by 8.29% and by 8.85% to lead the way. Crypto.com Coin (+5.11%) also found support to buck the broader trend on the day.

It was a bearish day for the rest of the majors, however.

Chainlink (-3.65%) and Ripple’s XRP (-3.66%) led the way down.

Cardano’s ADA (-1.45%), Ethereum (-0.73%), and Litecoin (-2.25%), and Polkadot (-1.41%) also struggled, however.

In the current week, the crypto total market rose to a Tuesday high $1,992bn before falling to a Wednesday low $1,782bn. At the time of writing, the total market cap stood at $1,916bn.

Bitcoin’s dominance rose to a Monday high 58.43% before falling to a Wednesday low 55.75%. At the time of writing, Bitcoin’s dominance stood at 56.46%.

This Morning

At the time of writing, Bitcoin was down by 0.30% to $57,958.1. A mixed start to the day saw Bitcoin rise to an early morning high $58,311.0 before falling to a low $57,924.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Binance Coin (+0.33%), Crypto.com Coin (+0.67%), and Ripple’s XRP (+0.05%) found early support.

It was a bearish start for the rest of the majors, however.

At the time of writing, Litecoin was down by 0.62% to lead the way down.

BTCUSD 100421 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $58,245 to bring the first major resistance level at $58,777 into play.

Support from the broader market would be needed for Bitcoin to break out from $58,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $59,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $60,000 before any pullback. The second major resistance level sits at $59,420.

Failure to move back through the $58,245 pivot would bring the first major support level at $57,602 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$57,000 levels. The second major support level at $57,070 should limit the downside.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 10th, 2021

Ethereum

Ethereum fell by 0.73% on Friday. Partially reversing a 5.93% gain from Thursday, Ethereum ended the day at $2,066.03.

A mixed start to the day saw Ethereum rise to a late morning intraday high $2,100.00 before hitting reverse.

Falling short of the first major resistance level at $2,127, Ethereum fell to a late afternoon intraday low $2,048.41.

Steering clear of the first major support level at $1,992, Ethereum found support to end the day at $2,060 levels.

At the time of writing, Ethereum was down by 0.16% to $2,062.72. A mixed start to the day saw Ethereum rise to an early morning high $2,067.66 before falling to a low $2,060.00.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 100421 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $2,072 to support a run at the first major resistance level at $2,095.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,090 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $2,100 would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,150 before any pullback. The second major resistance level sits at $2,123.

Failure to move through the $2,072 pivot would bring the first major support level at $2,043 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$2,000 levels. The second major support level at $2,020 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,043

Pivot Level: $2,072

First Major Resistance Level: $2,095

23.6% FIB Retracement Level: $1,662

38.2% FIB Retracement Level: $1,360

62% FIB Retracement Level: $872

Litecoin

Litecoin fell by 2.25% on Friday. Reversing most of a 3.21% gain from Thursday, Litecoin ended the day at $221.07.

A bullish start to the day saw Litecoin rise to an early morning intraday high $228.96 before hitting reverse.

Falling short of the first major resistance level at $231, Litecoin fell to late intraday low $218.84.

Litecoin fell through the first major support level at $220 before a move back through to $221 levels.

At the time of writing, Litecoin was down by 0.19% to $220.64. A mixed start to the day saw Litecoin rise to an early morning high $221.47 before falling to a low $220.57.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 100421 Hourly Chart

For the day ahead

Litecoin would need to move through the $223 pivot level to support a run at the first major resistance level at $227.

Support from the broader market would be needed, however, for Litecoin to break out from $225 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $228.96 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $240 before any pullback. The second major resistance level sits at $233.

Failure to move through the $223 pivot level would bring the first major support level at $217 into play.

Barring another extended sell-off, Litecoin should continue to steer clear of sub-$210 support levels. The second major support level at $213 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $217

Pivot Level: $223

First Major Resistance Level: $227

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP fell by 3.66% on Friday. Partially reversing Thursday’s 15.89% breakout, Ripple’s XRP ended the day at $1.01837.

A mixed start to the day saw Ripple’s XRP fall to an early afternoon intraday low $0.98012 before making a move.

Steering clear of the first major support level at $0.9521, Ripple’s XRP rallied to a late intraday high $1.08327.

Falling short of the first major resistance level at $1.1226, Ripple’s XRP fell back to end the day at sub-$1.02 levels.

At the time of writing, Ripple’s XRP was down by 0.45% to $1.01379. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.02255 before falling to a low $1.00568.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 100421 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $1.0273 pivot level to bring the first major resistance level at $1.0744 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.07 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $1.08327 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1304.

Failure to move through the $1.0273 pivot would bring the first major resistance level at $0.9712 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.95 levels. The second major support level sits at $0.9241.

Looking at the Technical Indicators

First Major Support Level: $0.9712

Pivot Level: $1.0273

First Major resistance Level: $1.0744

23.6% FIB Retracement Level: $0.8960

38.2% FIB Retracement Level: $0.7577

62% FIB Retracement Level: $0.5340

Please let us know what you think in the comments below.

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 9th, 2021

Ethereum

Ethereum rose by 5.93% on Thursday. Partially reversing a 7.06% slide from Wednesday, Ethereum ended the day at $2,081.29.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,949.34 before making a move.

Steering clear of the first major support level at $1,886, Ethereum rallied to a late intraday high $2,084.54.

Coming in range of the first major resistance level at $2,086, Ethereum eased back to end the day at $2,081 levels.

At the time of writing, Ethereum was up by 0.18% to $2,085.02. A mixed start to the day saw Ethereum fall to an early morning low $2,078.35 before rising to a high $2.088.18.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 090421 Hourly Chart

For the day ahead

Ethereum would need to avoid the pivot level at $2,038 to support a run at the first major resistance level at $2,127.

Support from the broader market would be needed, however, for Ethereum to break out from this morning’s high $2,088.18.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,200 before any pullback. The second major resistance level sits at $2,174.

Failure to avoid a fall through the $2,038 pivot would bring the first major support level at $1,992 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,903.

Looking at the Technical Indicators

First Major Support Level: $1,992

Pivot Level: $2,038

First Major Resistance Level: $2,127

23.6% FIB Retracement Level: $1,662

38.2% FIB Retracement Level: $1,360

62% FIB Retracement Level: $872

Litecoin

Litecoin rose by 3.21% on Thursday. Partially reversing Wednesday’s 7.68% slide, Litecoin ended the day at $226.24.

A mixed start to the day saw Litecoin rise to a late morning high $227.48 before hitting reverse.

Falling short of the first major resistance level at $238, Litecoin fell to late morning intraday low $217.00.

Steering clear of the first major support level at $206, Litecoin struck a late intraday high $228.00 before easing back.

At the time of writing, Litecoin was up by 0.32% to $226.97. A bullish start to the day saw Litecoin rise from an early morning low $226.04 to a high $227.96.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 090421 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $224 pivot level to support a run at the first major resistance level at $231.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $228.00.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $240 before any pullback. The second major resistance level sits at $235.

Failure to avoid the $224 pivot level would bring the first major support level at $220 into play.

Barring another extended sell-off, Litecoin should steer clear of sub-$210 support levels. The second major support level at $213 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $220

Pivot Level: $224

First Major Resistance Level: $231

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP surged by 15.89% on Thursday. Reversing most of a 16.64% tumble from Wednesday, Ripple’s XRP ended the day at $1.06262.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.90155 before making a move.

Steering clear of the first major support level at $0.8093, Ripple’s XRP rallied to a late intraday high $1.07202.

Ripple’s XRP broke through the first major resistance level at $1.0655 before easing back to sub-$1.065 levels.

At the time of writing, Ripple’s XRP was down by 0.75% to $1.05466. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.06093 before falling to a low $1.04164.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 090421 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid the $1.0121 pivot level to bring the first major resistance level at $1.1226 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s new swing hi $1.1196.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1825.

A fall through the $1.0121 pivot would bring the first major resistance level at $0.9521 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the second major support level at $0.8416. The 23.6% FIB of $0.8960 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $0.9521

Pivot Level: $1.0121

First Major resistance Level: $1.1226

23.6% FIB Retracement Level: $0.8960

38.2% FIB Retracement Level: $0.7577

62% FIB Retracement Level: $0.5340

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – April 9th, 2021

Bitcoin, BTC to USD, rose by 3.84% on Thursday. Reversing a 3.50% loss from Wednesday, Bitcoin ended the day at $58,110.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $55,714.0 before making a move.

Steering clear of the first major support level at $54,798, Bitcoin rallied to a late intraday high $58,155.0.

Bitcoin broke through the first major resistance level at $57,882 before a fall back to $57,500 levels.

Finding late support, however, Bitcoin broke back through the first major resistance level to end the day at $58,000 levels.

The near-term bullish trend remained intact in spite of the latest pullback. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Thursday.

Ripple’s XRP jumped by 15.89% to lead the way, with Binance Coin  rallying by 11.65%.

Cardano’s ADA (+4.02%), Chainlink (+5.35%), Crypto.com Coin (+7.31%), Ethereum (+5.93%), and Litecoin (+3.21%) also found strong support.

Bitcoin Cash SV (+2.79%) and Polkadot (+0.81%) trailed the front runners, however.

In the current week, the crypto total market rose to a Tuesday high $1,992bn before falling to a Wednesday low $1,783tn. At the time of writing, the total market cap stood at $1,920bn.

Bitcoin’s dominance rose to a Monday high 58.33% before falling to a Wednesday low 55.75%. At the time of writing, Bitcoin’s dominance stood at 56.55%.

This Morning

At the time of writing, Bitcoin was up by 0.05% to $58,138.3. A mixed start to the day saw Bitcoin rise to an early morning high $58,239.0 before falling to a low $58,063.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Cardano’s ADA and Polkadot were down by 0.17% and by 0.07% to buck the trend early on, with Binance Coin flat.

At the time of writing, Crypto.com Coin was up by 1.50%, however, to lead the way.

BTCUSD 090421 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $57,326 to bring the first major resistance level at $58,939 into play.

Support from the broader market would be needed for Bitcoin to break out from $58,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $59,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $60,000 before any pullback. The second major resistance level sits at $59,767.

A fall through the $57,326 pivot would bring the first major support level at $56,498 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$55,000 levels. The second major support level sits at $54,885.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 8th, 2021

Ethereum

Ethereum slid by 7.06% on Wednesday. Reversing a 0.26% gain from Tuesday, Ethereum ended the day at $1,964.23.

A bullish start to the day saw Ethereum rise to an early morning intraday high $2,128.99 before hitting reverse.

Falling short of the first major resistance level at $2,161, Ethereum fell to a mid-day intraday low $1,929.69.

The sell-off saw Ethereum fall through the first major support level at $2,056 and the second major support level at $1,998.

A choppy 2nd half of the day saw Ethereum revisit $2,000 levels and fall back through the first and second major support levels.

Late in the day, Ethereum revisited $2,000 levels for a 2nd time before falling back through the second major support level.

At the time of writing, Ethereum was down by 0.21% to $1,960.07. A mixed start to the day saw Ethereum rise to an early morning high $1,971.01 before falling to a low $1,949.34.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 080421 Hourly Chart

For the day ahead

Ethereum would need to move through the pivot level at $2,008 to support a run at the first major resistance level at $2,086.

Support from the broader market would be needed, however, for Ethereum to break back through to $2,050 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,200 before any pullback. The second major resistance level sits at $2,207.

Failure to move through the $2,008 pivot would bring the first major support level at $1,886 into play.

Barring another extended sell-off, however, Ethereum should steer clear of the second major support level at $1,808.

Looking at the Technical Indicators

First Major Support Level: $1,886

Pivot Level: $2,008

First Major Resistance Level: $2,086

23.6% FIB Retracement Level: $1,662

38.2% FIB Retracement Level: $1,360

62% FIB Retracement Level: $872

Litecoin

Litecoin slid by 7.68% on Wednesday. Reversing a 7.08% rally from Tuesday, Litecoin ended the day at $219.33.

A mixed start to the day saw Litecoin rise to an early morning high $242.96 before hitting reverse.

Falling short of the first major resistance level at $250, Litecoin slid to late morning intraday low $211.00.

Litecoin fell through the first major support level at $219 before briefly revisiting $226 levels.

A 2nd sell-off saw Litecoin briefly fall back through the first major support level before wrapping up the day at $219 levels.

At the time of writing, Litecoin was up by 0.21% to $219.78. A mixed start to the day saw Litecoin fall to an early morning low $217.70 before rising to a high $219.92.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 080421 Hourly Chart

For the day ahead

Litecoin would need to move through the $224 pivot level to support a run at the first major resistance level at $238.

Support from the broader market would be needed, however, for Litecoin to break back through to $230 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $242.96 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $250 before any pullback. The second major resistance level sits at $256.

Failure to move through the $224 pivot level would bring the first major support level at $206 into play.

Barring another extended sell-off, Litecoin should steer clear of the 23.6% FIB of $195. The second major support level sits at $193.

Looking at the Technical Indicators

First Major Support Level: $206

Pivot Level: $224

First Major Resistance Level: $238

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP tumbled by 16.64% on Wednesday. Partially reversing Tuesday’s 19.75% breakout, Ripple’s XRP ended the day at $0.91441.

A mixed start to the day saw Ripple’s XRP rise to an early morning intraday high $1.11142 before hitting reverse.

Falling short of the first major resistance level at $1.2093, Ripple’s XRP slid to a mid-day intraday low $0.85518.

The extended sell-off saw Ripple’s XRP fall through the 23.6% FIB of $0.8960 and the first major support level at $0.8951.

Steering clear of sub-$0.80 levels, Ripple’s XRP revisited $0.97 levels before ending the day at sub-$0.92 levels.

The 23.6% FIB of $0.8960 delivered support late in the day.

At the time of writing, Ripple’s XRP was down by 0.16% to $0.91297. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.92533 before falling to a low $0.90563.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 080421 Hourly Chart

For the day ahead

Ripple’s XRP will need to move through the $0.9603 pivot level to bring the first major resistance level at $1.0655 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $1.00 levels.

Barring an extended crypto rally, the first major resistance level and Wednesday’s high $1.11142 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.2166.

Failure to move through the $0.9603 pivot would bring the 23.6% FIB of $0.8960 and the first major resistance level at $0.8093 into play.

Barring another extended sell-off, however, Ripple’s XRP should steer clear of the 38.2% FIB of $0.7577. The second major support level sits at $0.7041.

Looking at the Technical Indicators

First Major Support Level: $0.8093

Pivot Level: $0.9603

First Major resistance Level: $1.0655

23.6% FIB Retracement Level: $0.8960

38.2% FIB Retracement Level: $0.7577

62% FIB Retracement Level: $0.5340

Please let us know what you think in the comments below.

Thanks, Bob

Bitcoin Holds Its Ground While Ethereum Gains Ground

While Bitcoin remains within 5% of its all-time highs, showing some remarkable price stability, BTC futures did close slightly lower by almost 2%, bringing the price of April futures to $58,695.

TUESDAY CHARTY #1

One of these sources is the financial media giant Bloomberg. On Tuesday, the outlet published a report on the most likely outcomes for the second quarter, this summary of which reads, “A more likely 2Q scenario is to breach $60,000 resistance and head toward $80,000. A backup toward $40,000 support is less likely, in our view.”

 

The innermost circle of the Bitcoin community, the beating heart of the blockchain, its miners, have recently been hoarding their earnings of new BTC rather than selling them as fast as they produce them minors have been accumulating their stashes of it. This suggests that many miners are expecting higher prices within the near future and therefore not immediately liquidating in expectations of higher returns down the line rather than diminished prices.

Thermo cap is a ratio that measures the collective block rewards miners have earned since the genesis of a blockchain. An article published in Yahoo Finance by Valdrin Tahiri utilized data from Glassnode and the market cap/Thermo cap ratio to conclude that BTC’s rally is nowhere near its conclusion point.

TUESDAY cHART #3

An exciting ratio that has so far correctly predicted the two previous market tops is the MC/TC ratio. It simply divides these two values to find a ratio that can be used to assess whether the BTC price is trading at a premium regarding the rewards paid to miners.

“In 2011, 2013, and 2017 price peaks, the MC/TC ratio also reached a peak in overbought territory, which is designated as the area above 0.000004 (highlighted in red). During the 2011 peak, MC/TC was at 0.00000595, in 2013 it was at 0.00000491, while in 2017 it was at 0. 00000439.These were the only three times in bitcoin’s recorded price history that MC/TC was above 0. 000004.Currently, MC/TC is at 0.00000246. This indicates that there is ample time until the bull market is over.”

Like we had predicted last week when Ethereum cracked the $2,000 barrier, ETH is trading above $2,100, posting a sweet gain of nearly 15% on the day. We had also forecasted that ETH would reach $2,400 – $2,500 by the end of April. We still hold to this belief but believe we may see that price point hit even sooner. We recommend anyone with a membership to one of the many spot exchanges buy ETH with the above-mentioned price targets.

 

The Crypto Daily – Movers and Shakers – April 7th, 2021

Bitcoin, BTC to USD, fell by 1.95% on Tuesday. Reversing a 1.55% gain from Monday, Bitcoin ended the day at $57,991.0.

A mixed start to the day saw Bitcoin rise to an early morning intraday high $59,499.0 before hitting reverse.

Falling short of the first major resistance level at $59,980, Bitcoin fell to an early afternoon intraday low $57,401.0.

Bitcoin fell through the first major support level at $57,580 before briefly revisiting $58,200 levels.

Failing to move back through to $59,000 levels, Bitcoin eased back to end the day at sub-$58,000 levels.

The near-term bullish trend remained intact supported by the recovery from sub-$55,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Tuesday.

Crypto.com Coin and Polkadot slid by 7.12% and by 3.57% to buck the trend and join Bitcoin in the red.

It was a bullish day for the rest of the majors, however.

Ripple’s XRP jumped by 19.75% to lead the pack, with Binance Coin  (+9.63%), Chainlink (+7.38%), and Litecoin (+7.08%) also on the move.

Bitcoin Cash SV (+1.79%), Cardano’s ADA (+3.40%), and Ethereum (+0.26%) trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $1,815bn before rising to a Tuesday high $1,992bn. At the time of writing, the total market cap stood at $1,928bn.

Bitcoin’s dominance rose to a Monday high 58.43% before falling to a Tuesday low 55.77%. At the time of writing, Bitcoin’s dominance stood at 56.31%.

This Morning

At the time of writing, Bitcoin was up by 0.24% to $58,133.0. A mixed start to the day saw Bitcoin fall to an early morning low $57,958.0 before rising to a high $58,189.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Binance Coin (-0.46%), Polkadot (-0.61%), and Ripple’s XRP (-0.29%) saw red to buck the trend early on.

It was a bullish start to the day for the rest of the majors, however.

At the time of writing, Crypto.com Coin and Litecoin were up by 1.89% and by 1.73% to lead the way.

BTCUSD 070421 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $58,297 to bring the first major resistance level at $59,193 into play.

Support from the broader market would be needed for Bitcoin to break back through to $59,000 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $59,500 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at the March swing hi $61,699 before any pullback. The second major resistance level sits at $60,395.

Failure to move through the $58,297 pivot would bring the first major support level at $57,095 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $56,199.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 7th, 2021

Ethereum

Ethereum rose by 0.26% on Tuesday. Following a 1.48% gain on Monday, Ethereum ended the day at $2,113.00.

A bullish start to the day saw Ethereum rise to an early morning intraday high and a new swing hi $2,151.00 before hitting reverse.

Coming within range of the first major resistance level at $2,158, Ethereum fell to an early afternoon intraday low $2,046.08.

Steering clear of the first major support level at $2,030, Ethereum revisited $2,130 levels before easing back.

At the time of writing, Ethereum was up by 0.61% to $2,125.85. A mixed start to the day saw Ethereum fall to an early morning low $2,109.39 before rising to a high $2,125.85.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 070421 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $2,103 to support a run at the first major resistance level at $2,161.

Support from the broader market would be needed, however, for Ethereum to break out from Tuesday’s new swing hi $2,151.00.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,200 before any pullback. The second major resistance level sits at $2,208.

Failure to avoid a fall through the $2,103 pivot would bring the first major support level at $2,056 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,998.

Looking at the Technical Indicators

First Major Support Level: $2,056

Pivot Level: $2,103

First Major Resistance Level: $2,161

23.6% FIB Retracement Level: $1,662

38.2% FIB Retracement Level: $1,360

62% FIB Retracement Level: $872

Litecoin

Litecoin rose by 7.08% on Tuesday. Following on from a 9.48% rally on Monday, Litecoin ended the day at $237.09.

A mixed start to the day saw Litecoin rise to an early morning high $227.58 before hitting reverse.

Falling short of the first major resistance level at $232, Litecoin slid to an early afternoon intraday low $213.00.

Steering clear of the first major support level at $205, Litecoin bounced back to strike a late afternoon intraday high $244.54.

Litecoin broke through the first major resistance level at $232 and the second major resistance level at $242.

Coming within range of February’s swing hi $247.00, Litecoin eased back to end the day at sub-$240.

At the time of writing, Litecoin was up by 2.06% to $241.98. A bullish start to the day saw Litecoin rise from an early morning low $237.05 to a high $242.00.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 070421 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $232 pivot level to support a run at the first major resistance level at $250.

Support from the broader market would be needed, however, for Litecoin to break out from February’s swing hi $247.00.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $270 before any pullback. The second major resistance level sits at $263.

Failure to avoid a fall through the $232 pivot level would bring the first major support level at $219 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$200 levels. The second major support level at $200 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $219

Pivot Level: $232

First Major Resistance Level: $250

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rallied by 19.75% on Tuesday. Following Monday’s 44.06% surge, Ripple’s XRP ended the day at $1.0970.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.80542 before making a move.

Steering clear of the 23.6% FIB of $0.7584 and the first major support level at $0.7098, Ripple’s XRP surged to a late morning high and a new swing hi $1.09888.

Ripple’s XRP broke through the first major resistance level at $1.0292 before sliding back to sub-$0.90 levels.

Finding late support, however, Ripple’s XRP broke back through the first major resistance level to strike a new swing hi $1.1196.

Falling short of the second major resistance level at $1.1440, Ripple’s XRP eased back to end the day at sub-$1.10 levels.

At the time of writing, Ripple’s XRP was down by 2.24% to $1.0725. A mixed start to the day saw Ripple’s XRP rise to an early morning high $1.1114 before falling to a low $1.0496.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 070421 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $1.0073 pivot level to bring the first major resistance level at $1.2093 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from Tuesday’s new swing hi $1.1196.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.30 levels before any pullback. The second major resistance level sits at $1.3215.

Failure to avoid a fall through the $1.0073 pivot would bring the 23.6% FIB of $0.8960 and the first major resistance level at $0.8951 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer well clear of the 38.2% FIB of $0.7577. The second major support level sits at $0.6932.

Looking at the Technical Indicators

First Major Support Level: $0.8951

Pivot Level: $1.0073

First Major resistance Level: $1.2093

23.6% FIB Retracement Level: $0.8960

38.2% FIB Retracement Level: $0.7577

62% FIB Retracement Level: $0.5340

Please let us know what you think in the comments below.

Thanks, Bob

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 6th, 2021

Ethereum

Ethereum rose by 1.48% on Monday. Following on from a 3.35% gain on Sunday, Ethereum ended the day at $2,106.98.

A bullish start to the day saw Ethereum rise to an early morning high $2,085.23 before hitting reverse.

Falling short of the first major resistance level at $2,120, Ethereum slid to a mid-morning intraday low $2,003.10.

Ethereum fell through the first major support level at $2,007 before striking a late intraday high $2,131.27.

The rebound saw Ethereum break through the first major resistance level at $2,120 before ending the day at sub-$2,110 levels.

At the time of writing, Ethereum was up by 0.80% to $2,123.92. A bullish start to the day saw Bitcoin rise from an early morning low $2,107.39 to a high $2,124.48.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 060421 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $2,081 to support a run at the first major resistance level at $2,158.

Support from the broader market would be needed, however, for Ethereum to break out from Monday’s high $2,131.27.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,200 before any pullback. The second major resistance level sits at $2,209.

Failure to avoid a fall through the $2,081 pivot would bring the first major support level at $2,030 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,900 levels. The second major support level at $1,952 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,030

Pivot Level: $2,081

First Major Resistance Level: $2,158

23.6% FIB Retracement Level: $1,659

38.2% FIB Retracement Level: $1,356

62% FIB Retracement Level: $869

Litecoin

Litecoin rallied by 9.48% on Monday. Following on from a 3.58% gain on Sunday, Litecoin ended the day at $221.44.

A mixed start to the day saw Litecoin rise to an early morning high $207.50 before hitting reverse.

Coming up against the first major resistance level at $207, Litecoin slid to a mid-morning intraday low $198.11.

Steering clear of the 23.6% FIB and the first major support level at $195, Litecoin bounced back to strike a late intraday high $225.00.

Litecoin broke through the first major resistance level at $207 and the second major resistance level at $213.

Coming up against the third major resistance level at $225, Litecoin eased back to end the day at $221 levels.

At the time of writing, Litecoin was down by 0.20% to $220.99. A mixed start to the day saw Litecoin rise to an early morning high $222.29 before falling to a low $220.31.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 060421 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $215 pivot level to support a run at the first major resistance level at $232.

Support from the broader market would be needed, however, for Litecoin to break out from Monday’s high $225.00.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $250 before any pullback. The second major resistance level sits at $242.

Failure to avoid a fall through the $215 pivot level would bring the first major support level at $205 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 levels and the second major support level at $188.

The 23.6% FIB of $195 would likely limit the downside.

Looking at the Technical Indicators

First Major Support Level: $205

Pivot Level: $215

First Major Resistance Level: $232

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP surged by 44.06% on Monday. Following on from a 9.69% rally on Sunday, Ripple’s XRP ended the day at $0.91431.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.62015 before making a move.

Steering clear of the first major support level at $0.5896, Ripple’s XRP surged to a late intraday high and a new swing hi $0.93953.

Ripple’s XRP broke through the day’s major resistance levels to wrap up the day at $0.91 levels for the first time since 2018.

At the time of writing, Ripple’s XRP was down by 0.13% to $0.91312. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.94396 before falling to a low $0.90712.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 060421 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.8247 pivot level to bring the first major resistance level at $1.0292 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break through to $1.00 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $1.20 levels before any pullback. The second major resistance level sits at $1.1440.

Failure to avoid a fall through the $0.8247 pivot would bring the 23.6% FIB of $0.7584 and first major support level at $0.7098 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer well clear of sub-$0.70 levels. The 38.2% FIB sits at 0.6463, with the second major support level at $0.5053.

Looking at the Technical Indicators

First Major Support Level: $0.7098

Pivot Level: $0.8247

First Major resistance Level: $1.0292

23.6% FIB Retracement Level: $0.7584

38.2% FIB Retracement Level: $0.6463

62% FIB Retracement Level: $0.4652

Please let us know what you think in the comments below.

Thanks, Bob

Monthly Recap: Bitcoin and Ethereum Post Over 30% Gains in March

Bitcoin Continues its Parabolic Advance Throughout March

Such an impressive uptrend was fueled by news of further adoption by some of the largest financial institutions worldwide.

Citi declared that Bitcoin could become the “currency of choice” for international trade in a few years. The U.S. banking giant has released a 108-page document at the beginning of the month titled “Bitcoin: At The Tipping Point,” arguing that BTC is the “North Star” that acts as a guiding light for decentralized finance and other areas of the blockchain space.

Along the same lines, the Director of Fidelity’s Global Macro Jurrien Timmer said that Bitcoin has evolved as a form of digital gold. According to the analyst, BTC will become scarcer than the precious metal, becoming a “more convex form of gold.” Weighing the pros and cons of investing in the digital asset, Timmer stated that it might make “one component of the bond side of a 60/40 stock/bond portfolio.”

The acknowledgment that Bitcoin is now part of the global financial system from such major corporations seems to have been the catalyst that pushed prices to a new all-time high of $61,800 in mid-March.

Nonetheless, the rising price action was quickly spoiled by a senior government official in India who stated that the nation would almost certainly ban cryptocurrency. The news reignited fear among crypto investors in the South Asian country since holding cryptocurrencies was also going to be a criminal offense punishable by up to 10 years imprisonment.

As investors in India began to panic sell their holding, Bitcoin took an 18.50% nosedive to hit a low of $50,500 on March 25th. But some market participants took advantage of the downswing to add more tokens to their portfolios at a discount, with American citizens spending a significant portion of their U.S. stimulus checks into BTC.

The bellwether cryptocurrency closed the month on news that Morgan Stanley was planning to offer its richest customers the option to invest in Bitcoin in high-risk funds, allowing prices to recover from the Indian sell-off.

Ethereum Miners Threaten to Disrupt the Network, But Tensions Eased

Like a rising tide that lifts all boats, the global recognition that Bitcoin achieved throughout March also helped Ethereum surge. The second-largest cryptocurrency by market capitalization rose from a monthly open of $1,420 to close the first quarter of the year at a high of $1,909, according to CEX.IO’s exchange rate. ETH investors generated a monthly profit of nearly 35%.

Ether kicked off the month on news that Amazon Managed Blockchain added support for the smart contracts blockchain, allowing users to set up Ethereum nodes and join the network via Amazon’s blockchain service.

Although the news was well-received by software developers, a proposal to improve Ethereum transaction costs took center stage.

Ether’s core developers agreed to add the blockchain’s crucial EIP-1559 to the London fork in July. The idea behind the improvement proposals was to burn a portion of the gas fees on every transaction to reduce ETH supply. EIP-1559 could be thought of as an “ETH buyback,” making Ethereum a deflationary asset

Certain miners publicly opposed the update since it would hurt their source of revenue. For instance, SparkPool and Bitfly, two of Ethereum’s key mining pools, shared their concerns on Twitter, stating that they were “sad to see many people only care about price now.” As a result, the hashtag “#stopeip1559” gained a significant amount of support.

While several community members threatened to move their hashrate to Ethermine for 51 hours, Ethereum creator Vitalik Buterin vowed for a more immediate merge of Ethereum 1.0 and Ethereum 2.0. The merge would mark a more thorough transition to proof-of-stake and prevent miners from attacking the network.

As tensions heated up between miners and Ethereum developers, market participants became concerned over the network’s stability. The potential Indian ban on crypto also served as fuel for a sell-off that saw ETH drop by nearly 22% to hit a low of $1,550 on March 24th.

Thankfully, Ethereum layer 2 solution Hermez Network launched on mainnet promising to alleviate some of the well-documented congestion issues. Through ZK-Rollup technology, it was suggested that ETH would process vast amounts of transactions, moving billions of dollars worth of digital assets.

The announcement was well received by the crypto community alongside Visa’s decision to allow digital currency payments settling directly on the Ethereum blockchain. Such positive developments allow Ether to recover the losses incurred and close the month in the greed.

The Bull Run Isn’t Over Yet

April has historically been the most bullish month for Bitcoin and Ethereum. Price data reveals a 51% average gain for both cryptocurrencies during the fourth month of the year. More importantly, Coinbase’s upcoming listing on the NASDAQ could significantly affect prices since it will bring digital assets to a new realm of investors.

Market participants have already been placing their bets for the coming weeks. With $2 billion in open interest and a 0.79 put/call ratio, speculators forecast BTC will reach a price of $80,000 before the end of the month. Meanwhile, Ethereum’s technical indicators predict a nearly 40% advance towards a new all-time high of $2,500 or higher.

Konstantin Anissimov, Executive Director at CEX.IO

A Memorable March: Bitcoin and Ethereum Adoption Skyrockets

One year later, and March 2021 already seems somewhat better from all standpoints. But, when it comes to the crypto industry, this last month has been one of the most prosperous in the sector’s entire history, especially when it comes to adoption and the prices of Bitcoin and Ethereum.

March 2021 boosts crypto adoption

The past 31 days have brought a lot of progress to the cryptocurrency industry, but it could be said that the adoption has seen the most progress. Institutional investors have been overcoming their fear of cryptocurrency for over a year now, and with each passing month, they have been more and more encouraged to join the crypto sector and help it grow. Companies like Grayscale and MicroStrategy have invested millions into crypto on behalf of their clients, and despite recent dips, institutions continue to invest. Grayscale even launched new crypto products only a few weeks ago.

Major financial institutions like JPMorgan and Morgan Stanley have started offering crypto products, and even the Deutsche Bank openly stated that cryptocurrencies can no longer be ignored.

This last month revealed that Tesla has bought over $1.5 billion worth of Bitcoin. This month, however, its CEO, Elon Musk, announced that the electric car company will now start accepting Bitcoin as a means of payment.

Another report revealed that Bitcoin miners managed to earn over $1.5 billion in March of this year alone, making mining one of the most profitable ways of earning Bitcoin at the moment.

And, of course, no one will soon forget that this was a month of Bitcoin ETFs, with as many as three of them emerging in Canada, one of which was launched by Galaxy Digital’s Mike Novogratz. These are the first BTC ETFs in North America, and their very existence has given US companies a new encouragement to continue to bombard the SEC with new ETF applications.

This has also been a major month for Ethereum, as its DeFi sector reached an all-time high at $46.1 billion in total value locked (TVL) in mid-March. Meanwhile, NFTs (non-fungible tokens) became one of the main topics of news and discussions, as tokenization started taking off. There were countless examples of celebrities, groups, and organizations launching NFTs, selling tokenized versions of songs, tweets, watches, and anything else that has any kind of value.

Not to mention that Visa embraced crypto settlement, and chose Ethereum blockchain to conduct them on. Lastly, Ethereum continues to slowly implement changes that will eventually result in its transformation into Ethereum 2.0 — a better, faster, more scalable blockchain, with much cheaper transactions and greater functionalities.

Bitcoin and Ethereum hit all-time highs in March 2021

The situation regarding crypto prices was equally as good, at least for a time. Bitcoin managed to hit a new ATH earlier this month, which was followed by a major price correction. The coin reached an ATH of $61,683 on March 13th, only to correct to $54k three days later. It then attempted to reach $60k once again after that, and it succeeded, but the approaching expiration date of $6 million worth of Bitcoin options caused fears of major sell-off, resulting in an even deeper price drop that brought the coin to $51k by March 25th.

Now, only one week later, the coin is nearly back at $60k, surging rapidly over the past week, and currently sitting at $59,781.

Ethereum saw a similar price performance, however it was held back by extremely strong resistance at $1,850 for the majority of the month, and this barrier caused it to trade sideways for weeks. The coin managed to breach it only once in the past month, around the time of Bitcoin’s ATH. However, ETH did not manage to beat its February record. Instead, it only climbed to $1920 before dropping back down.

When Bitcoin options expiration date approached, ETH price was affected too due to BTC dominance, dropping to $1560 as a result. However, just like BTC, Ethereum also recovered over the past six days, and it currently pushes strongly against the resistance at $1850, which is also the coin’s price at the time of writing.

At the moment, both coins are trading in the green, with their prices surging as the new rally took over, and it would not be surprising for new ATHs to be reached in the next day. Historically speaking, crypto industry often performs very well in April and May, so the next two months have an excellent chance of bringing great price performance.

Greg Waisman, the co-founder and COO of the global payment network Mercuryo

The Crypto Daily – Movers and Shakers – April 5th, 2021

Bitcoin, BTC to USD, rose by 2.12% on Sunday. Partially reversing a 3.29% fall from Saturday, Bitcoin ended the week up by 4.40% to $58,240.2.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $56,500.0 before making a move.

Steering clear of the first major support level at $55,981.0, Bitcoin rallied to a mid-afternoon intraday high $58,480.0.

Falling short of the first major resistance level at $58,950.0, Bitcoin slipped back to sub-$58,000 levels.

Finding late support, however, Bitcoin move back through to $58,200 levels to end the day in the green.

The near-term bullish trend remained intact supported by the recovery to $58,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Sunday.

Crypto.com Coin fell by 1.95% to buck the trend on the day.

It was a bullish day for the rest of the majors, however.

Binance Coin  and Ripple’s XRP rallied by 8.41% and by 9.69% respectively to lead the pack.

Chainlink (+4.96%), Ethereum (+3.35%), Litecoin (+3.58%), and Polkadot (+4.94%) also found strong support.

Bitcoin Cash SV (+2.14%), Cardano’s ADA (+1.71%) trailed the front runners, however.

It was also a mixed week for the crypto majors.

Cardano’s ADA slipped by 0.65% to buck the trend.

It was a bullish week for the rest of the pack, however.

Binance Coin (+29.93%) and Polkadot (+31.58%) led the way, with Ethereum rallying by 23.09%.

Bitcoin Cash SV (+14.66%), Chainlink (+15.29%), and Ripple’s XRP (+16.11%) also made solid gains.

Crypto.com Coin (+4.97%) trailed the front runners, however.

In the week, the crypto total market fell to a Monday low $1,671bn before rising to a Saturday high $1,932bn. At the time of writing, the total market cap stood at $1,872bn.

Bitcoin’s dominance rose to a Wednesday high 61.34% before falling to a Sunday low 57.67%. At the time of writing, Bitcoin’s dominance stood at 58.01%.

This Morning

At the time of writing, Bitcoin was down by 0.09% to $58,185.0. A mixed start to the day saw Bitcoin rise to an early morning high $58,430.0 before falling to a low $58,049.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Ripple’s XRP was down by 1.28% to lead the way down.

Binance Coin (-0.30%), Cardano’s ADA (-0.26%), and Ethereum (-0.19%) also joined Bitcoin in the red.

It was a bullish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was up by 1.66% to lead the way.

BTCUSD 050421 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $57,740 to bring the first major resistance level at $58,980 into play.

Support from the broader market would be needed for Bitcoin to break out from $58,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $59,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at 14th March swing hi $61,699.0 before easing back. The second major resistance level sits at $59,720.

Failure to avoid a fall through the $57,740 pivot would bring the first major support level at $57,000 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$55,000 support levels. The second major support level at $55,760 should limit the downside.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 5th, 2021

Ethereum

Ethereum rose by 3.35% on Sunday. Partially reversing a 5.86% slide from Saturday, Ethereum ended the week up by 23.09% to $2,076.36.

A bearish start to the day saw Ethereum fall to an early morning intraday low $1,980.00 before making a move.

Steering clear of the first major support level at $1,960, Ethereum rallied to a mid-afternoon intraday high $2,093.07.

Coming within range of the first major resistance level at $2,099, Ethereum slipped back to $2,050 levels before ending the day at $2,076 levels.

At the time of writing, Ethereum was down by 0.14% to $2,073.46. A mixed start to the day saw Ethereum rise to an early morning high $2,085.23 before falling to a low $2,072.02.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 050421 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $2,050 to support a run at the first major resistance level at $2,120.

Support from the broader market would be needed, however, for Ethereum to break out from Sunday’s high $2,093.07.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,200 before any pullback. The second major resistance level sits at $2,163.

Failure to avoid a fall through the $2,050 pivot would bring the first major support level at $2,007 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,900 levels. The second major support level at $1,937 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $2,007

Pivot Level: $2,050

First Major Resistance Level: $2,120

23.6% FIB Retracement Level: $1,659

38.2% FIB Retracement Level: $1,356

62% FIB Retracement Level: $869

Litecoin

Litecoin rose by 3.58% on Sunday. Partially reversing a 7.6% slide from Saturday, Litecoin ended the week up by 9.78% to $202.26.

A mixed start to the day saw Litecoin fall to an early morning intraday low $191.90 before making a move.

While steering clear of the first major support level at $188, Litecoin fell through the 23.6% FIB of $195.

Finding early support, however, Litecoin struck an early afternoon intraday high $204.74.

While breaking back through the 23.6% FIB, Litecoin fell short of the first major resistance level at $210.

A late pullback saw Litecoin fall back to sub-$200 levels before ending the day at $202 levels.

At the time of writing, Litecoin was up by 0.42% to $203.11. A bullish start to the day saw Litecoin rise from an early morning low $202.26 to a high $203.40.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 050421 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $200 pivot level to support a run at the first major resistance level at $207.

Support from the broader market would be needed, however, for Litecoin to break out from Sunday’s high $204.74.

Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $213.

Failure to avoid a fall through the $200 pivot level would bring the first major support level at $195 and the 23.6% FIB of $195 into play.

Barring an extended sell-off, Litecoin should steer clear of the second major support level at $187.

Looking at the Technical Indicators

First Major Support Level: $195

Pivot Level: $200

First Major Resistance Level: $207

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rallied by 9.69% on Sunday. Reversing a 4.53% fall from Saturday, Ripple’s XRP ended the week up by 16.11% to $0.63465.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.56743 before making a move.

Steering clear of the first major support level at $0.5550, Ripple’s XRP rallied to a final hour intraday high $0.63534.

Ripple’s XRP broke through the first major resistance level at $0.6230 to wrap up the day at $0.635 levels.

At the time of writing, Ripple’s XRP was down by 0.63% to $0.63063. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.63750 before falling to a low $0.63011.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 050421 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.6125 pivot level to bring the first major resistance level at $0.6575 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break through to $0.65 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.70 levels before any pullback. The second major resistance level sits at $0.6804.

Failure to avoid a fall through the $0.6125 pivot would bring the first major support level at $0.5896 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.55 levels. The second major support level sits at $0.5446.

Looking at the Technical Indicators

First Major Support Level: $0.5896

Pivot Level: $0.6125

First Major resistance Level: $0.6575

23.6% FIB Retracement Level: $0.5320

38.2% FIB Retracement Level: $0.4632

62% FIB Retracement Level: $0.3521

Please let us know what you think in the comments below.

Thanks, Bob

The Crypto Daily – Movers and Shakers – April 4th, 2021

Bitcoin, BTC to USD, slid by 3.29% on Saturday. Reversing a 0.39% gain from Friday, Bitcoin ended the day at $57020.0.

A bullish start to the day saw Bitcoin rise to a late morning intraday high $59,841.0 before hitting reverse.

Falling short of the first major resistance level at $60,000, Bitcoin slid to a final hour intraday low $56.872.0.

Bitcoin fell through the first major support level at $58,128 and the second major resistance level at $57,297.

Finding late support, Bitcoin moved back through to $57,000 levels to reduce the deficit on the day.

In spite of the move back through to $57,000 levels, Bitcoin failed to break back through the second major support level.

The near-term bullish trend remained intact supported by the March gain. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Saturday.

Polkadot rallied by 4.17% to buck the trend on the day.

It was a bearish day for the rest of the majors, however.

Bitcoin Cash SV (-8.66%), Chainlink (-9.83%), and Litecoin (-7.60%) led the way down.

Binance Coin  (-4.87%), Cardano’s ADA (-2.42%), Ethereum (-5.86%), and Ripple’s XRP (-4.53%) also struggled

Crypto.com Coin ended the day flat, however.

In the current week, the crypto total market fell to a Monday low $1,671bn before rising to a Saturday high $1,932bn. At the time of writing, the total market cap stood at $1,802bn.

Bitcoin’s dominance rose to a Wednesday high 61.34% before falling to a Saturday low 57.79%. At the time of writing, Bitcoin’s dominance stood at 58.86%.

This Morning

At the time of writing, Bitcoin was down by 0.66% to $56,642.2. A bearish start to the day saw Bitcoin fall from an early morning high $57,030.0 to a low $56,550.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 6.50% to lead the way down.

BTCUSD 040421 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the pivot level at $57,911 to bring the first major resistance level at $58,950 into play.

Support from the broader market would be needed for Bitcoin to break out from $58,500 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $59,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at 14th March swing hi $61,699.0 before easing back. The second major resistance level sits at $60,880.

Failure to move through the $57,911 pivot would bring the first major support level at $55,981 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$55,000 support levels. The second major support level sits at $54,942.

The Crypto Daily – Movers and Shakers – April 3rd, 2021

Bitcoin, BTC to USD, rose by 0.39% on Friday. Reversing a 0.12% decline from Thursday, Bitcoin ended the day at $58,959.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $58,328.0 before making a move.

Steering clear of the first major support level at $57,958, Bitcoin rallied to an early morning intraday high $60,190.0.

Bitcoin broke through the first major resistance level at $59,486 before hitting reverse.

Coming within range of the second major resistance level at $60,259, Bitcoin fell back to a late in the day low $58,400.

Finding late support, however, Bitcoin broke back through to $58,900 levels to end the day in positive territory.

The near-term bullish trend remained intact supported by the March gain. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Friday.

Polkadot rallied by 9.16% to lead the way, with Bitcoin Cash SV (+7.06%), Chainlink (+7.90%), and Ethereum (+8.43%) also making solid gains.

Binance Coin  (+1.15%), Cardano’s ADA (+0.72%), Crypto.com Coin (+2.09%), Litecoin (+4.32%), and Ripple’s XRP (+6.00%) trailed the front runners.

In the current week, the crypto total market fell to a Monday low $1,671bn before rising to a Friday high $1,929bn. At the time of writing, the total market cap stood at $1,892bn.

Bitcoin’s dominance rose to a Wednesday high 61.34% before falling to a Friday low 58.16%. At the time of writing, Bitcoin’s dominance stood at 58.61%.

This Morning

At the time of writing, Bitcoin was up by 0.61% to $59,321.0. A mixed start to the day saw Bitcoin fall to an early morning low $58,944.0 before rising to a high $59,430.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day for the majors.

Ethereum bucked the trend early on, falling by 0.98%.

It was a bullish start for the rest of the pack, however.

At the time of writing, Polkadot was up by 7.06% to lead the way.

BTCUSD 030421 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $59,159 to bring the first major resistance level at $60,000 into play.

Support from the broader market would be needed for Bitcoin to break out from $59,500 levels.

Barring an extended crypto rally, the first major resistance level and Friday’s high $60,190.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at 14th March swing hi $61,699.0 before easing back. The second major resistance level sits at $61,021.

Failure to avoid a fall through the $59,159 pivot would bring the first major support level at $58,128 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$58,000 support levels. The second major support level sits at $57,297.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 3rd, 2021

Ethereum

Ethereum rallied by 8.43% on Friday. Following on from a 2.52% gain on Thursday, Ethereum ended the day at $2,134.38.

A mixed start to the day saw Ethereum fall to an early morning intraday low $1,948.67 before making a move.

Steering clear of the first major support level at $1,909, Ethereum surged to a final hour intraday high and a new swing hi $2,145.0.

Ethereum broke through the day’s major resistance levels before easing back to sub-$2,140 levels.

The pullback saw Ethereum fall back through the third major resistance level at $2,138 to end the day at $2,134 levels.

At the time of writing, Ethereum was down by 0.91% to $2,115.35. A mixed start to the day saw Ethereum rise to an early morning high $2,139.33 before falling to a low $2,099.57.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 030421 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $2,076 to support a run at the first major resistance level at $2,204.

Support from the broader market would be needed, however, for Ethereum to break out from Friday’s high $2,145.00.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,400 before any pullback. The second major resistance level sits at $2,273.

Failure to avoid a fall through the $2,076 pivot would bring the first major support level at $2,007 into play.

Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $1,880.

Looking at the Technical Indicators

First Major Support Level: $2,007

Pivot Level: $2,076

First Major Resistance Level: $2,204

23.6% FIB Retracement Level: $1,659

38.2% FIB Retracement Level: $1,356

62% FIB Retracement Level: $869

Litecoin

Litecoin rose by 4.32% on Friday. Following on from a 2.93% gain on Thursday, Litecoin ended the day at $211.50.

A mixed start to the day saw Litecoin fall to an early morning intraday low $200.79 before making a move.

Steering clear of the first major support level at $196, Litecoin rallied to a final hour intraday high $213.56.

Litecoin broke through the first major resistance level at $207 and the second major resistance level at $211.

The second major resistance level at $211 delivered support late in the day, with Litecoin ending the day at $211 levels.

At the time of writing, Litecoin was up by 0.38% to $212.3. A mixed start to the day saw Litecoin fall to an early morning low $211.32 before rising to a high $214.71.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 030421 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $209 pivot level to support another run at the first major resistance level at $216.

Support from the broader market would be needed, however, for Litecoin to break out from this morning’s high $214.71.

Barring an extended crypto rally, the first major resistance level and resistance at $220 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $230 before any pullback. The second major resistance level sits at $221.

Failure to avoid a fall through the $209 pivot level would bring the first major support level at $204 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$200 levels. The second major support level sits at $196.

Looking at the Technical Indicators

First Major Support Level: $204

Pivot Level: $209

First Major Resistance Level: $216

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP rallied by 6.00% on Friday. Following a 0.04% decline on Thursday, Ripple’s XRP ended the day at $0.60649.

A mixed start to the day saw Ripple’s XRP fall to an early morning intraday low $0.56434 before making a move.

Steering clear of the first major support level at $0.5478, Ripple’s XRP rallied to a late afternoon intraday high $0.60877.

Ripple’s XRP broke through the first major resistance level at $0.5932 before falling back to sub-$0.59 levels.

Finding late support, however, Ripple’s XRP broke back through the first major resistance level to end the day at $0.60 levels.

At the time of writing, Ripple’s XRP was up by 0.93% to $0.61212. A mixed start to the day saw Ripple’s XRP fall to an early morning low $0.60676 before rising to a high $0.62079.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 030421 Hourly Chart

For the day ahead

Ripple’s XRP will need to avoid a fall through the $0.5932 pivot level to bring the first major resistance level at $0.6221 back into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break out from this morning’s high $0.62079.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.65 levels before any pullback. The second major resistance level sits at $0.6376.

Failure to avoid a fall through the $0.5932 pivot would bring the first major support level at $0.5776 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of sub-$0.55 levels. The second major support level sits at $0.5488.

Looking at the Technical Indicators

First Major Support Level: $0.5776

Pivot Level: $0.5932

First Major resistance Level: $0.6221

23.6% FIB Retracement Level: $0.5320

38.2% FIB Retracement Level: $0.4632

62% FIB Retracement Level: $0.3521

Please let us know what you think in the comments below.

Thanks, Bob

Ethereum Breaks $2,000 per Coin While BTC Returns to $60,000

This week Ethereum has risen by 25%, gaining 5% today alone bringing Ethereum to a new all-time high and cracking $2,000 for the first time. Bitcoin has returned to $60,000 and all though its not a new record considering the fact that it had been trading at around $6,000 one year ago a 10x annual price appreciation is nothing to sneer at.

friday chart #1

Ethereum now looks poised to take on $2,100 and I am expecting as high as $2,400 by the end of April. This should be accompanied by a new record high in BTC as the two tend to move in synchromism.

Friday chart #2

The top two cryptos have also seen a decrease in volatility an aspect that makes investors more confident and has the possibility to bring in new ones. The Fact that Bitcoin futures never once broke below $50,000 after moving above this price point seven weeks ago. The two juggernauts of the digital currency revolution have certainly proven that they are not only here to stay but here to grow along the way.

Friday chart

The Crypto Daily – Movers and Shakers – April 2nd, 2021

Bitcoin, BTC to USD, slipped by 0.12% on Thursday. Following a 0.07% decline on Wednesday, Bitcoin ended the day at $58.724.0.

A mixed start to the day saw Bitcoin rise to a late morning intraday high $59,483.0 before hitting reverse.

Falling short of the first major resistance level at $60,188, Bitcoin slid to a late morning low $58,029.0.

Steering clear of the major support levels, Bitcoin revisited $59,300 levels before falling to a mid-afternoon intraday low $57,955.0.

Continuing to avoid the first major support level at $57,115, Bitcoin found late support to revisit $59,000 levels before falling back into the red.

The near-term bullish trend remained intact supported by the March gain. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed start to the month on Thursday.

Cardano’s ADA (-0.78%) and Ripple’s XRP (-0.04%) joined Bitcoin in the red.

It was a bullish day for the rest of the pack, however.

Binance Coin  rallied by 10.58% to lead the way.

Bitcoin Cash SV (+4.32%), Chainlink (+2.37%), Ethereum (+2.52%), and Litecoin (+2.93%) also found strong support.

Crypto.com Coin (+0.67%) and Polkadot (+1.00%) trailed the front runners on the day.

In the current week, the crypto total market fell to a Monday low $1,671bn before rising to a Thursday high $1,880bn. At the time of writing, the total market cap stood at $1,836bn.

Bitcoin’s dominance rose to a Wednesday high 61.34% before falling to a Thursday low 59.09%. At the time of writing, Bitcoin’s dominance stood at 59.69%.

This Morning

At the time of writing, Bitcoin was down by 0.04% to $58,703.0. A mixed start to the day saw Bitcoin rise to an early morning high $58,891.0 before falling to a low $58,572.1.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day for the majors.

Binance Coin (+2.43%), Cardano’s ADA (+0.20%), Polkadot (+0.31%), and Ripple’s XRP (+0.95%) found early support.

It was a bearish start for the rest of the pack, however.

At the time of writing, Crypto.com Coin was down by 1.04% to lead the way down.

BTCUSD 020421 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $58,721 to bring the first major resistance level at $59,486 into play.

Support from the broader market would be needed for Bitcoin to break back through to $59,400 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $60,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at 14th March swing hi $61,699.0 before easing back. The second major resistance level sits at $60,249.

Failure to move back through the $58,721 pivot would bring the first major support level at $57,958 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$57,000 levels. The second major support level at $57,193 should limit the downside.

Ethereum, Litecoin, and Ripple’s XRP – Daily Tech Analysis – April 2nd, 2021

Ethereum

Ethereum rose by 2.52% on Thursday. Following on from a 4.29% gain on Wednesday, Ethereum ended the day at $1,968.38.

A mixed start to the day saw Ethereum rise to a late morning high $1,966.0 before hitting reverse.

Falling short of the major resistance levels, Ethereum slid to a late afternoon intraday low $1,886.11 before making a move.

Steering clear of the first major support level at $1,812 Ethereum rallied to a late intraday high $1,982.21.

Ethereum came within range of the first major resistance level at $1,988 before easing back.

At the time of writing, Ethereum was down by 0.32% to $1,962.01. A mixed start to the day saw Ethereum rise to an early morning high $1,972.00 before falling to a low $1,955.00.

Ethereum left the major support and resistance levels untested early on.

ETHUSD 020421 Hourly Chart

For the day ahead

Ethereum would need to avoid a fall through the pivot level at $1,946 to support a run at the first major resistance level at $2,005.

Support from the broader market would be needed, however, for Ethereum to break through to $2,000 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of a breakout, Ethereum could test resistance at $2,100 before any pullback. The second major resistance level sits at $2,042.

Failure to avoid a fall through the $1,946 pivot would bring the first major support level at $1,909 into play.

Barring an extended sell-off, however, Ethereum should steer clear of sub-$1,800 levels. The second major support level at $1,850 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $1,909

Pivot Level: $1,946

First Major Resistance Level: $2,005

23.6% FIB Retracement Level: $1,579

38.2% FIB Retracement Level: $1,292

62% FIB Retracement Level: $830

Litecoin

Litecoin rose by 2.93% on Thursday. Following on from a 0.58% gain on Wednesday, Litecoin ended the day at $202.67.

A mixed start to the day saw Litecoin fall to a mid-morning intraday low $194.14 before making a move.

The morning pullback saw Litecoin fall through the 23.6% FIB of $195 before striking a mid-afternoon intraday high $204.95.

Litecoin broke through the first major resistance level at $202 before a slide back to $196 levels.

Steering clear of the 23.6% FIB, Litecoin bounced back to end the day at $202 levels.

At the time of writing, Litecoin was up by 0.29% to $203.26. A mixed start to the day saw Litecoin fall to an early morning low $201.62 before rising to a high $203.74.

Litecoin left the major support and resistance levels untested early on.

LTCUSD 020421 Hourly Chart

For the day ahead

Litecoin would need to avoid a fall through the $201 pivot level to support a run at the first major resistance level at $207.

Support from the broader market would be needed, however, for Litecoin to break out from Thursday’s high $204.95.

Barring an extended crypto rally, the first major resistance level and resistance at $210 would likely cap any upside.

In the event of an extended rally, Litecoin could test resistance at $220 before any pullback. The second major resistance level sits at $211.

Failure to avoid a fall through the $201 pivot level would bring the first major support level at $196 and the 23.6% FIB of $195 into play.

Barring an extended sell-off, Litecoin should steer clear of sub-$190 levels. The second major support level at $190 should limit the downside.

Looking at the Technical Indicators

First Major Support Level: $196

Pivot Level: $201

First Major Resistance Level: $207

23.6% FIB Retracement Level: $195

38.2% FIB Retracement Level: $163

62% FIB Retracement Level: $110

Ripple’s XRP

Ripple’s XRP slipped by 0.04% on Thursday. Partially reversing a 1.14% gain from Wednesday, Ripple’s XRP ended the day at $0.57008.

A bullish start to the day saw Ripple’s XRP rally to an early morning intraday high $0.59411 before hitting reverse.

Ripple’s XRP broke through the first major resistance level at $0.5900 before sliding to an early afternoon intraday low $0.54864.

Steering clear of the first major support level at $0.5390, Ripple’s XRP recovered to $0.57 levels to limit the downside.

At the time of writing, Ripple’s XRP was down by 0.27% to $0.56856. A mixed start to the day saw Ripple’s XRP rise to an early morning high $0.57270 before falling to a low $0.56828.

Ripple’s XRP left the major support and resistance levels untested early on.

XRPUSD 020421 Hourly Chart

For the day ahead

Ripple’s XRP will need to move back through the $0.5709 pivot level to bring the first major resistance level at $0.5932 into play.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.59 levels.

Barring an extended crypto rally, the first major resistance level and Thursday’s high $0.59411 would likely cap any upside.

In the event of an extended rally, Ripple’s XRP could test resistance at $0.62 levels before any pullback. The second major resistance level sits at $0.0.6164.

Failure to move back through the $0.5709 pivot would bring the first major support level at $0.5478 into play.

Barring an extended sell-off, however, Ripple’s XRP should steer clear of the 23.6% FIB of $0.5320. The second major support level sits at $0.5255.

Looking at the Technical Indicators

First Major Support Level: $0.5478

Pivot Level: $0.5709

First Major resistance Level: $0.5932

23.6% FIB Retracement Level: $0.5320

38.2% FIB Retracement Level: $0.4632

62% FIB Retracement Level: $0.3521

Please let us know what you think in the comments below.

Thanks, Bob