Bitcoin, Ethereum, Bitcoin Cash, Ripple: Daily Price Analysis and Prediction, April 18
We Expect the $8,400 Level in Bitcoin
Most of the organizations in the world have begun adopting the blockchains technology. This means that we might expect the cryptocurrencies to also be used in some kind of way. However, from last week’s price analysis, cryptocurrencies were experiencing a month’s high during the start but faced a downside at the end of the week.
During the start of this week, we also experienced an upside in all the cryptocurrencies. The current prices are discussed in the price analysis.
From the start of the week, Bitcoin has been trading in a high range. On Monday, the cryptocurrency was involved in an upside to above the $8,000 price level in just a few hours. This was a significant improvement from last week’s statistics. However, currently, Bitcoin has slightly fallen but still trades above the $7,900 price range.
According to the price analysis, it seems Bitcoin is trying to gain momentum for further upside. Therefore, if it attains the bullish trend, we should expect the $8,400 price level soon. However, on the other side, dropping below the $7,600 position might attract losses.
Support level: $7,800
Resistance level: $8,400
Just after Ethereum hit the $538 high this month, it has been involved in a significant drop. However, according to Monday’s statistics, it was involved in an upside which saw it rally above the $510 price level. Yesterday, it was trading at the $517 price level but has since slightly dropped to $504 level.
The major investors still anticipate the $520 and the $530 resistance levels soon. Therefore, an upside might subject it to these resistance levels. On the downside, a drop below the $490 price level might attract losses.
Support level: $490
Resistance level: $520
Bitcoin Cash BCH
Bitcoin cash had found sellers in the $800 price level when the cryptocurrency then was involved in a downside to the $780 and the $760 levels. According to Monday’s statistics, Bitcoin cash rose significantly above the $780 price level but has since slightly dropped to $761.
Therefore, we expect bitcoin cash to find buyers and rally back above the $800 price level. On the downside, dropping further below the $750 price level might attract losses.
Support level: $750
Resistance level: $800
Just after trading close to the $0.700range, Ripple was involved in a downside to the $0.680 and the $0.660 levels. For the last three days, Ripple has been reading above the $640 price level. Yesterday, the cryptocurrency attained the $0.677 price level bust has since dropped slightly currently to the $0.660 levels.
Therefore, we are in expectation that Ripple is gaining momentum for an upside. Therefore, we believe that ripple might attain the $0.700 price level if the upside continues. On the other hand, dropping below the $0.6400 level might attract losses for the investors and also the crypto exchanges.
Support level: $0.6400
Resistance level: $0.700
Basing out arguments from the price analysis during the weeks start, all cryptocurrencies started on a high note. In a few hours, all were involved in a slight drop in prices which was short-lived. This is because the cryptocurrencies have started showing signs of upside according to the price analysis.