All the major coins have been experiencing an upside and a bullish sign from the previous week’s price analysis. Currently, various lawsuits which were against cryptocurrencies have been revised and also many presented to the courts. Additionally, the Blockchain technology has been embraced in various corporations around the world.
With the various regulations which are ongoing including the anti-money laundering regulations, this move has been streamlining the cryptocurrency exchanges and corporations dealing with cryptocurrencies. Therefore, this might be the reason that the four cryptocurrencies have been highly favored in the market.
Therefore, let’s find out the current prices from the price analysis.
Bitcoin has been experiencing an upside in the previous week. The cryptocurrency broke the $8,400 and the $8,600 support levels and is not trading slightly above the $8,900 price level and below the $9,000 level. In the previous week, it attained a low below the $7,900 price level on 18th April. From the time, it has been involved in a continuous upside to the $8,900 price range.
Currently, the cryptocurrency market is favorable for Bitcoin. Therefore, we expect the cryptocurrency to break the $9,000 resistance level and rally to the $9,200 price level. On the downside, however, dropping below the $8,500 price level might attract more losses. Investors can add on to their holdings.
Support level: $8,500
Resistance level: $9,000
Ethereum has also been subjected to an upside according to last week’s price analysis. The cryptocurrency experienced a low of the $500 range but has been improving steadily to the $640 price levels. Ethereum crossed the $600 and the $630 resistance levels in the previous week before attaining the weeks high.
Therefore, we expect this upside trend to continue this week. Therefore, Ethereum might attain the $650 and the $670 resistance levels in case the market conditions are considerable. On the other hand, the $600 price level is possible in case the cryptocurrency drops below the $620 price level. Investors can, however, add on to their holdings.
Support level: $620
Resistance level: $650
Bitcoin Cash BCH
Bitcoin cash has experienced an upside in the previous week. This has seen the cryptocurrency improve and cross the $1,000 major resistance level. The bulls have been working hard to push the prices high and this has been successful. Bitcoin cash is currently at the $1,230 price level and this is a significant improvement from the week’s low of $748.
This week, we expect the cryptocurrency to improve further and break the $1,250 resistance level. Upon breaking this level, it might further rally to the $1,300 price level soon. On the other hand, a drop below the $1,100 price level might attract more losses.
Support level: $1,100
Resistance level: $1,250
Ripple has been experiencing an upside trend last week. The bulls have been actively pushing the prices upwards from the lows of $0.6450 to the $0.88 levels. On April 21, the cryptocurrency attained the weeks high of $0.9200 and has since been trading slightly below the $0.90 level up to date.
Therefore, the current trend has turned bullish and prices have been increasing from time to time. A continual bullish trend might see this cryptocurrency go above the $0.95 price level and later the $1.00 resistance level. We hope for the best this week. On the downside, dropping below the $0.840 level might attract losses. However, investors can add onto their holdings.
Support level: $0.840
Resistance level: $0.950
In accordance with the price analysis, all the four cryptocurrencies have experienced an upside and crossed the previously set resistance levels. This has been as a result of positive market conditions in favor of the cryptocurrencies. Additionally, through the price analysis, we anticipate for the best this week and hope that the bullish trend will continue.