From the previous price analysis, all the cryptocurrencies were trading at a lower price than the current price levels. This means that all major cryptocurrencies have experienced an upside for the last two days. Various corporations have been incorporating Blockchain technology. However, no negative news has hit the cryptocurrency markets.
Therefore, let’s find out the current price levels from the price analysis.
From the start of the week, bitcoin has been involved in an upside. However, sometimes it has been involved in shortly lived downsides. Traders and analysts have seen bullish characteristics in bitcoin. Currently, it has been trading above the $8,000 price level for quite some time now.
Currently, Bitcoin is above the $8,200 price level, and continuous bullish trend might attract more buyers which is an action which would lead to upside. On the other hand, a downside below the $8,000 price level might attract losses to the $7,800 price level. Therefore, traders can add on to their holdings for long-term returns.
Support level: $8,000
Resistance level: $8,400
Ethereum formed a decent support base which was around the $510 price level. However, from the tie, it has been involved in upside and witnessed a high of $560 on April 19. However, as per the current statistics, a slight drop in price to the $554 level has been experienced.
According to the current statistics, Ethereum has been experiencing a bullish trend, and we expect this to continue. We believe that the slight drop is short lived and the cryptocurrency should improve above the $600 price level soon.
Support level: $510
Resistance level: $610
Bitcoin Cash BCH
Bitcoin cash has been experiencing an upside for some time now. This was experienced when it improved close to the $900 price level but was involved in a downside. However, it rallied again above the $900 price level and hit a high of $979. Currently, it has slightly dropped to the $959 price level.
We believe that this is just a short-lived downside. Therefore, Bitcoin cash might experience buying which might push it to the $990 price level. On the downside, crossing the $940 price level might attract losses.
Support level: $940
Resistance level: $990
Ripple has been experiencing an upside trend this week. As a result, upside from the $0.65 level saw it attain the $0.75 price level currently. Ripple crossed the $0.66 and also the $0.68 resistance levels to attain the current high.
Therefore, we believe that the bullish trend will continue and this might see it go above the $0.770 price level within some time. However, on the downside, dropping below the $0.70 price level might attract more losses. Therefore, Ripple buying might improve the prices even to the $0.80 price level.
According to the price analysis, all cryptocurrencies have attained new highs this week. Therefore, we might experience a continuous trend if buying continues. On the other hand, a sell-off might lead to losses from the current trends in the price analysis.