BTC, ETH and XRP: the situation on the crypto market on April 21


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BTC, ETH and XRP: the situation on the crypto market on April 21

BTC, ETH and XRP: the situation on the crypto market on April 21

  • The main topic on the markets is the collapse of oil prices.

  • In this analysis, we will look at the current situation for BTC, ETH and XRP..

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Today again passed under the sign of an unprecedented collapse in oil prices. Crypto traders continued to enthusiastically recalculate how many barrels of oil can be bought with one bitcoin.

Meanwhile, the cryptocurrency market did not stand still either. Thus, Bitcoin (BTC) lost more than $ 400 intraday, and this is fraught with further weakening, since the price did not manage to consolidate the previous bullish break. However, traders believe that the situation on the oil market has nothing to do with it..

BTC, ETH and XRP: the situation on the crypto market on April 21

Below we will consider the top three popular cryptocurrencies and try to understand what awaits them next..

Bitcoin (BTC)

Bitcoin returned to the $ 6650- $ 7150 range, and at first the price tried to settle above the median line of this range, but it did not succeed.

The likely bearish crossover of the 50- and 200-hour moving averages (MA) draws attention. The previous time, such an intersection appeared on the chart on April 11. Then the price soon began to rise and reached the resistance line, but then dropped sharply.

If a similar situation repeats this time, we can expect that the BTC rate will soon start to rise and reach the resistance line of $ 7250, but then reverse and fall.

The Bitcoin chart continues to be bearish. The price has reached the area of ​​convergence of several resistance levels.

First, this is the line of descending resistance from April 6th. On shorter timeframes, the price has already made its bullish breakout, but on longer timeframes, it remains unbroken, and the breakout attempt just got the shape of a candle wick.

BTC, ETH and XRP: the situation on the crypto market on April 21

Secondly, it is the horizontal resistance of the $ 5700- $ 6900 trading range. The market has not yet closed above this line.

Finally, this is the 25-day MA, which is very close to the current price level..

Despite some bullish divergence signals on the RSI and significant trading volumes, this is not enough to neutralize the dominance of bearish characteristics.

We expect Bitcoin to decline towards the median line of the $ 6,300 range.

Ethereum (ETH)

On April 16, Ethereum made a bullish breakout of the downward resistance line. The price has been moving along this line for two months. After the breakout, the price grew for two more days, reaching a maximum of ₿0.026 on April 18, and then retreated.

The two most important levels are marked at ₿0.026 and ₿0.0245. After the bullish breakout of the last mark, the pair tested it as support. While trading is above this level, growth in the direction of the resistance area and its possible breakout can be expected.

The charts are not yet giving bearish divergence signals that would suggest potential for a bearish breakout. In this regard, further strengthening of the currency to the top of the downward resistance line at ₿0.0285 is possible..

Ripple (XRP)

BTC, ETH and XRP: the situation on the crypto market on April 21

Since February 18, XRP has been declining along the line of downward resistance, having already tested it for strength five times. At the time of writing, XRP is trading between this line and the 2600 Satoshi support area. The price has not touched any of these levels since April 9.

The RSI is holding below 50, indicating a bearish trend. However, it also gives signals of bullish divergence. Thus, in the short term, the price may head to the resistance line – after it once again tests the 2600 Satoshi support area.


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