All the major cryptocurrencies were involved in a rally in price on April 9. They all had taken the bullish trend as depicted by the price analysis. However, a downside was initiated yesterday which could be due to various regulation and tax issues in the market.
The price analysis discusses the current market prices.
On April 9, Bitcoin attained the anticipated $7,000 position after the previous week drop in prices which saw it at the $6,542 position. However, after attaining a high of $7,177 on April 9, Bitcoin has currently fallen in prices to a $6,665 low and regained to the $6,800 positions.
The current fall could be due to the regulations and various issues faced by the crypto exchanges. However, on good market conditions, Bitcoin might be involved in a rally in prices to the $7,500 price level. On the other hand, a drop below the $6,500 support level might subject it to further losses.
Support level: $6,500
Resistance level: $7,200
On April 9th, Ethereum was involved in a rally in prices to a significant level. The cryptocurrency rose even above the $430 price range and reached a high of $433.77. After this, a downside move started, and it attained a low of $390. However, currently, it has improved to the $410 price level.
If Ethereum turns bullish, we might experience highs of $440 levels in some days. On the other side, subjecting itself to a low of $386 might attract more losses. Therefore, we don’t recommend any buying to happen currently.
Support level: $386
Resistance level: $415
Bitcoin Cash BCH
According to April 9 statistics and analysis, there was a decent upside move initiated in Bitcoin cash which saw it trade above the $650 price level. The price further increased, and the bulls failed to push the price above the $682 price level. Therefore, a downside was initiated at that position.
Yesterday, the cryptocurrency experienced a bearish trend which pushed the price to the $630 price level. However, according to the current statistics, Bitcoin Cash has rallied to the $650 price level. If this trend continues, we might experience a high above the $680 level. On the other hand, dropping below the $640 level might attract losses.
Support level: $625
Resistance level: $650
Ripple was not left behind on the April 9 upside. This saw the cryptocurrency improve above the $0.4800 level. The price further went above the $0.500 price level and attained a new high of $0.5116 level. However, this did not last long as the cryptocurrency has since dropped below the $0.500 price level to attain the $0.490 levels.
It seems that Ripple has gained a positive momentum currently. Therefore, a continuous trend might subject it to the $0.500 levels. On the other hand, falling below the $0.470 level might subject it to the $0.4500 levels.
Support level: $0.4750
Resistance level: $0.5000
The major cryptocurrency price analysis depicts the upside trend experienced on April 9. Later, all the cryptocurrencies were faced with a positive price index as the price analysis indicates.