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  • BTC, ETH and lots of DeFi tokens declined in the last days. Here we provide a complete analysis to find about key levels and price prediction of Bitcoin, Ethereum and Ripple.

    In the past few days, bitcoin price declined sharply from well above the $11,000 level against the US Dollar. BTC broke some key supports near the $10,750 level to move into a bearish zone.

    The drop was such that the price declined below the $10,580 support and the 55 simple moving average (4-hours). Additionally, there was a break below a key bullish trend line with support near $10,800 on the 4-hours chart of the BTC/USD pair.

    The pair traded as low as $10,184 and it is currently correcting losses. It broke the 23.6% Fib retracement level of the recent drop from the $11,175 high to $10,184 low. However, the previous support near the $10,580 level is now acting as a strong resistance.

    The next key resistance is near the $10,680 level or the 50% Fib retracement level of the recent decline from the $11,175 high to $10,184 low. The main resistance is near the $10,750 level and the 55 simple moving average (4-hours).

    A clear break above the $10,580 level and then a follow up move above $10,750 is required for a fresh increase. If not, there are chances of more losses below the $10,200 level.

    The next major support is near the $10,000 level, below which bitcoin bears are likely to aim a larger decline towards the $9,500 level.

    Overall, the Bitcoin price prediction is likely claims to extend losses until it is below the $10,580 and $10,750 resistance levels in the near term.

    ETH/USD Daily Chart

    The ETH/USD pair is trading at the $335 price level and it is piercing the price congestion support at $345.

    Above this price, the first resistance level is at $340, then the second at $365 and the third one at $375.

    Below the current price, the first support level is at $317, then the second at $290 and the third one at $270.

    The MACD on the daily chart is opening lower and has a profile that could very well show a further acceleration of the downward movement.

    The DMI on the daily chart indicates bears taking advantage of the bullish trend. The buy-side is positioned below the ADX line and confirms the dominance of the sell-side.


    XRP/USD Daily Chart

    The XRP/USD pair is trading at the price level of $0.2323 and remains above the current ascending trendline. The loss of this support would signal the end of this trend and a possible test of the $0.20 level.

    Above this price price, the first resistance level is at $0.235, then the second one at$0.262and the third one at $0.285.

    Below the current price, the first support level is at $0.231, then the second one at $0.214 and the third one at $0.205.

    The MACD on the daily chart indicates a very flat profile with no strength. The short-term scenario may involve a sudden surge in volatility to break the current impasse.

    The DMI on the daily chart indicates bears controlling the pair but without a large lead over the bulls. The buy-side is positioned below the ADX line and confirms the current downward trend.

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