Aayush Jindal, Author at tridEX

9th May 2024

Bitcoin Bears Keeps Pushing, Why BTC Could Turn Bearish Below $60K?

Bitcoin price extended losses and traded below the $62,500 zone. BTC is showing bearish signs and might turn bearish if it settles below $60,000.

Bitcoin followed a bearish path and traded below $62,500.
The price is trading below $63,000 and the 100 hourly Simple moving average.
There is a connecting bearish trend line forming with resistance at $62,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could extend losses and revisit the $60,000 support zone in the near term.

Bitcoin Price Extends Decline

Bitcoin price struggled to stay above the $63,500 zone and extended losses. There was a move below the $63,000 and $62,500 levels. The bears even pushed it below $61,200.

A low was formed at $60,888 and the price is now consolidating losses. If there is a recovery wave, the price might struggle to clear the $62,000 resistance or the 23.6% Fib retracement level of the recent decline from the $65,500 swing high to the $60,888 low.

There is also a connecting bearish trend line forming with resistance at $62,000 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $63,000 and the 100 hourly Simple moving average.

Immediate resistance is near the $61,800 level. The first major resistance could be $62,000. The next key resistance could be $63,200 and the 100 hourly Simple moving average. It is close to the 50% Fib retracement level of the recent decline from the $65,500 swing high to the $60,888 low.

Source: BTCUSD on TradingView.com

The main hurdle is now at $63,800. A clear move above the $63,800 resistance might send the price higher. The next resistance now sits at $64,450. If there is a close above the $64,450 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,500.

More Downsides In BTC?

If Bitcoin fails to climb above the $62,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $60,850 level.

The first major support is $60,000. If there is a close below $60,000, the price could start to drop toward $58,000. Any more losses might send the price toward the $56,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $60,850, followed by $60,000.

Major Resistance Levels – $62,000, $63,200, and $64,450.

8th May 2024

DOT Price (Polkadot) Reaches Key Juncture, Is This Bulls Trap or Correction?

Polkadot (DOT) is correcting gains from the $7.5 resistance against the US Dollar. The price could start another increase if it stays above the $6.75 support.

DOT gained pace and tested the $7.5 resistance level against the US Dollar.
The price is trading above the $7.00 zone and the 100 simple moving average (4 hours).
There is a short-term expanding triangle forming with resistance at $7.50 on the 4-hour chart of the DOT/USD pair (data source from Kraken).
The pair could continue to decline if it fails to stay above the $6.75 support.

Polkadot Price Holds Support

After forming a base above the $6.00 level, DOT price started a decent increase. It broke many hurdles near $6.75 and even spiked above $7.25. A high was formed at $7.46 and the price is now correcting gains, like Ethereum and Bitcoin.

There was a move below the $7.25 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $6.03 swing low to the $7.46 high.

DOT is now trading above the $7.00 zone and the 100 simple moving average (4 hours). Immediate resistance is near the $7.25 level. The next major resistance is near $7.50. There is also a short-term expanding triangle forming with resistance at $7.50 on the 4-hour chart of the DOT/USD pair.

Source: DOTUSD on TradingView.com

A successful break above $7.50 could start another strong rally. In the stated case, the price could easily rally toward $8.00 in the near term. The next major resistance is seen near the $8.80 zone.

More Downsides in DOT?

If DOT price fails to start a fresh increase above $7.25, it could continue to move down. The first key support is near the $7.00 level and the 100 simple moving average (4 hours).

The next major support is near the $6.75 level or the 50% Fib retracement level of the upward move from the $6.03 swing low to the $7.46 high, below which the price might decline to $6.50. Any more losses may perhaps open the doors for a move toward the $6.10 support zone or $6.00.

Technical Indicators

4-Hours MACD – The MACD for DOT/USD is now losing momentum in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is now below the 50 level.

Major Support Levels – $7.00, $6.75 and $6.50.

Major Resistance Levels – $7.25, $7.50, and $8.00.

8th May 2024

Ethereum Price May Have Another Chance For A Bullish Streak: Here’s How

Ethereum price is correcting gains from the $3,220 resistance. ETH could start a fresh increase if it clears the $3,055 and $3,080 resistance levels.

Ethereum started a fresh decline after it faced resistance near $3,220.
The price is trading below $3,100 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance at $3,055 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must stay above the $3,000 support to start another increase toward $3,220.

Ethereum Price Revisits $3K

Ethereum price faced resistance at $3,220 and started a downside correction, like Bitcoin. ETH declined below the $3,120 and $3,080 levels. It even tested the $3,000 support.

A low was formed at $3,005 and the price is now consolidating losses. Ethereum is trading below $3,100 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,050 level or the 23.6% Fib retracement level of the recent drop from the $3,217 swing high to the $3,005 low.

There is also a key bearish trend line forming with resistance at $3,055 on the hourly chart of ETH/USD. The first major resistance is near the $3,080 level or the 100-hourly Simple Moving Average.

Source: ETHUSD on TradingView.com

The next key resistance sits at $3,120 or the 61.8% Fib retracement level of the recent drop from the $3,217 swing high to the $3,005 low, above which the price might gain traction and rise toward the $3,200 level. If there is a clear move above the $3,200 level, the price might rise and test the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone.

More Losses In ETH?

If Ethereum fails to clear the $3,055 resistance, it could start another decline. Initial support on the downside is near the $3,000 level. The first major support is near the $2,950 zone.

The next support is near the $2,920 level. A clear move below the $2,920 support might push the price toward $2,840. Any more losses might send the price toward the $2,720 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $3,000

Major Resistance Level – $3,080

8th May 2024

Bitcoin Price Dips Again, Is This A Fresh Bearish Signal?

Bitcoin price failed to clear the $65,500 resistance. BTC is now moving lower and there are a few bearish signs emerging below the $63,500 level.

Bitcoin started a fresh downside correction and traded below $63,500.
The price is trading below $63,350 and the 100 hourly Simple moving average.
There was a break below a major bullish trend line with support at $63,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could extend losses and revisit the $60,000 support zone in the near term.

Bitcoin Price Rejects $65,500

Bitcoin price extended its increase above the $64,500 level. However, BTC struggled to clear the $65,500 resistance zone. A high was formed at $65,550 and the price is now correcting gains.

There was a move below the $64,000 level. The price declined below the 23.6% Fib retracement level of the upward wave from the $56,380 swing low to the $65,550 high. Besides, there was a break below a major bullish trend line with support at $63,700 on the hourly chart of the BTC/USD pair.

Bitcoin is now trading below $63,500 and the 100 hourly Simple moving average. Immediate resistance is near the $63,350 level. The first major resistance could be $64,000. The next key resistance could be $65,000.

Source: BTCUSD on TradingView.com

The main hurdle is now at $65,500. A clear move above the $65,500 resistance might send the price higher. The next resistance now sits at $66,650. If there is a close above the $66,650 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $68,000.

More Losses In BTC?

If Bitcoin fails to climb above the $63,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $62,000 level.

The first major support is $61,000 or the 50% Fib retracement level of the upward wave from the $56,380 swing low to the $65,550 high. If there is a close below $61,000, the price could start to drop toward $60,000. Any more losses might send the price toward the $58,000 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $62,000, followed by $60,000.

Major Resistance Levels – $63,500, $64,000, and $65,500.

7th May 2024

XRP Price Prediction – Can 100 SMA Trigger Another Steady Increase

XRP price is correcting gains from the $0.570 resistance. The price is stable above the $0.5240 support and might aim for a fresh increase in the near term.

XRP started a decent increase and climbed above the $0.550 resistance.
The price is now trading above $0.5250 and the 100 simple moving average (4 hours).
There is a key bullish trend line forming with support at $0.5320 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
The pair could start another increase if the bulls defend the $0.5240 support.

XRP Price Holds Support

Recently, XRP price started a decent increase above the $0.5250 resistance zone. The bulls even pushed the price above the $0.550 resistance zone before the bears appeared.

A high was formed at $0.5699 before there was a pullback like Bitcoin and Ethereum. The price dipped below the $0.550 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $0.4787 swing low to the $0.5699 high.

However, the price is now stable above $0.5250 and the 100 simple moving average (4 hours). There is also a key bullish trend line forming with support at $0.5320 on the 4-hour chart of the XRP/USD pair.

Source: XRPUSD on TradingView.com

Immediate resistance is near the $0.5480 level. The first key resistance is near $0.570. A close above the $0.570 resistance zone could spark a strong increase. The next key resistance is near $0.5850. If the bulls remain in action above the $0.5850 resistance level, there could be a rally toward the $0.620 resistance. Any more gains might send the price toward the $0.680 resistance.

More Losses?

If XRP fails to clear the $0.5480 resistance zone, it could start another decline. Initial support on the downside is near the $0.5320 level and the trend line.

The next major support is at $0.5240 and the 100 simple moving average (4 hours). If there is a downside break and a close below the $0.5240 level, the price might accelerate lower. In the stated case, the price could retest the $0.50 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.5320, $0.5240, and $0.500.

Major Resistance Levels – $0.5480, $0.570, and $0.600.

7th May 2024

Ethereum Price Recovery In Jeopardy? Decoding Major Hurdles To Upside Continuation

Ethereum price extended its recovery wave above the $3,120 zone. ETH failed to surpass the $3,220 resistance and is currently trimming gains.

Ethereum climbed further above the $3,150 and $3,200 levels before the bears appeared.
The price is trading below $3,120 and the 100-hourly Simple Moving Average.
There was a break below a major bullish trend line with support at $3,120 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must stay above the $3,020 support to start another increase toward $3,220.

Ethereum Price Dips Again

Ethereum price climbed further above the $3,150 and $3,200 levels, like Bitcoin. ETH tested the $3,220 resistance zone before the bears appeared. A high was formed at $3,217 and the price started a downside correction.

There was a move below the $3,150 level. The bears pushed it below the $3,120 support. Besides, there was a break below a major bullish trend line with support at $3,120 on the hourly chart of ETH/USD. The pair tested the $3,025 zone.

A low was formed at $3,025 and the price is now consolidating losses. Ethereum is trading below $3,120 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,070 level or the 23.6% Fib retracement level of the recent decline from the $3,217 swing high to the $3,025 low.

The first major resistance is near the $3,120 level or the 50% Fib retracement level of the recent decline from the $3,217 swing high to the $3,025 low. The next key resistance sits at $3,170, above which the price might gain traction and rise toward the $3,220 level.

Source: ETHUSD on TradingView.com

If the bulls remain in action and push the price above $3,220, there could be a drift toward the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone.

More Losses In ETH?

If Ethereum fails to clear the $3,120 resistance, it could start another decline. Initial support on the downside is near the $3,025 level. The first major support is near the $3,000 zone.

The main support is near the $2,950 level. A clear move below the $2,950 support might push the price toward $2,820. Any more losses might send the price toward the $2,650 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $3,025

Major Resistance Level – $3,120

7th May 2024

Bitcoin Price Signals Uptrend Continuation But Patience Is The Key

Bitcoin price extended its increase above the $64,000 resistance. BTC is now holding gains above $62,800 and might aim for more upsides.

Bitcoin traded to a new weekly high at $65,500 before there was a downside correction.
The price is trading above $63,500 and the 100 hourly Simple moving average.
There is a key bullish trend line forming with support at $63,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could aim for more upsides if it clears the $64,500 and $65,500 resistance levels.

Bitcoin Price Aims Higher

Bitcoin price remained well-bid above the $62,500 support zone and extended its increase. BTC was able to clear the $64,500 resistance. It even cleared $65,000 and tested $65,500.

A high was formed at $65,550 and the price is now correcting gains. There was a minor decline below the $64,000 level. The price tested the 23.6% Fib retracement level of the upward move from the $56,380 swing low to the $65,550 high.

However, the bulls are active near the $63,000 zone. There is also a key bullish trend line forming with support at $63,350 on the hourly chart of the BTC/USD pair.

Bitcoin is now trading above $63,000 and the 100 hourly Simple moving average. Immediate resistance is near the $64,500 level. The first major resistance could be $65,000. The next key resistance could be $65,500.

Source: BTCUSD on TradingView.com

A clear move above the $65,500 resistance might send the price higher. The next resistance now sits at $67,200. If there is a clear move above the $67,200 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $68,800.

Another Drop In BTC?

If Bitcoin fails to rise above the $65,500 resistance zone, it could start another decline. Immediate support on the downside is near the $63,350 level and the trend line.

The first major support is $62,800. If there is a close below $62,800, the price could start to drop toward the 50% Fib retracement level of the upward move from the $56,380 swing low to the $65,550 high at $60,800. Any more losses might send the price toward the $60,000 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.

Major Support Levels – $63,350, followed by $62,800.

Major Resistance Levels – $64,500, $65,000, and $65,500.

6th May 2024

AVAX Price Uptrend To Continue? These Could Be The Factors To Watch

AVAX price is gaining pace above the $36.50 resistance. Avalanche could rise further if there is a clear move above the $40.00 resistance zone.

AVAX price is moving higher from the $30.50 support zone against the US dollar.
The price is trading above $35.00 and the 100 simple moving average (4 hours).
There was a break above a key bearish trend line with resistance at $34.00 on the 4-hour chart of the AVAX/USD pair (data source from Kraken).
The pair could continue to rise if it stays above the $36.30 and $35.50 support levels.

AVAX Price Aims Higher

After a steady decline, Avalanche’s AVAX found support near the $30.50 zone. A low was formed near $30.58, and the price started a fresh increase, like Bitcoin and Ethereum.

The price gained over 10% and broke many hurdles near $35.00. There was a break above a key bearish trend line with resistance at $34.00 on the 4-hour chart of the AVAX/USD pair. The pair even cleared the 50% Fib retracement level of the downward move from the $39.83 swing high to the $30.58 low.

AVAX price is now trading above $36.50 and the 100 simple moving average (4 hours). On the upside, an immediate resistance is near the $37.65 zone or the 76.4% Fib retracement level of the downward move from the $39.83 swing high to the $30.58 low.

Source: AVAXUSD on TradingView.com

The next major resistance is forming near the $39.80 zone. If there is an upside break above the $39.80 level, the price could surge over 10%. In the stated case, the price could rise steadily toward the $42.50 level or even $44.00.

Dips Supported in Avalanche?

If AVAX price fails to continue higher above the $37.65 or $39.80 levels, it could start a downside correction. Immediate support on the downside is near the $36.30 level.

The main support is near the $35.20 zone and the 100 simple moving average (4 hours). A downside break below the $35.20 level could open the doors for a major decline towards $32.80. The next major support is near the $30.50 level.

Technical Indicators

4 hours MACD – The MACD for AVAX/USD is gaining momentum in the bullish zone.

4 hours RSI (Relative Strength Index) – The RSI for AVAX/USD is now above the 50 level.

Major Support Levels – $36.30 and $35.20.

Major Resistance Levels – $37.65, $39.80, and $42.50.

6th May 2024

Ethereum Price Reclaims 100 SMA But Bulls Still Lack Strength To Clear Hurdles

Ethereum price started a recovery wave above the $3,000 zone. ETH is now above the 100-hourly simple moving average and facing hurdles.

Ethereum found support at $2,820 and started a recovery wave.
The price is trading above $3,100 and the 100-hourly Simple Moving Average.
There is a key bullish trend line forming with support at $3,110 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could gain bullish momentum if it clears the $3,165 resistance zone.

Ethereum Price Holds Ground

Ethereum price remained stable and started a recovery wave above the $3,000 level, like Bitcoin. ETH was able to clear the $3,050 and $3,120 resistance levels.

However, the bears were active near the $3,165 resistance zone. A high was formed at $3,168 and the price started a downside correction. There was a minor move below the $3,150 level. The price is now stable above the 23.6% Fib retracement level of the upward move from the $2,813 swing low to the $3,168 high.

Ethereum is also above $3,100 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $3,110 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

Immediate resistance is near the $3,165 level. The first major resistance is near the $3,200 level. The next key resistance sits at $3,250, above which the price might gain traction and rise toward the $3,350 level. If the bulls remain in action and push the price above $3,350, there could be a drift toward the $3,500 resistance. Any more gains could send Ether toward the $3,620 resistance zone.

Another Decline In ETH?

If Ethereum fails to clear the $3,165 resistance, it could start another decline. Initial support on the downside is near the $3,100 level and the trend line. The first major support is near the $3,000 zone or the 50% Fib retracement level of the upward move from the $2,813 swing low to the $3,168 high.

The main support is near the $2,940 level. A clear move below the $2,940 support might push the price toward $2,820. Any more losses might send the price toward the $2,650 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $3,000

Major Resistance Level – $3,165

6th May 2024

Bitcoin Price Rejects Key Resistance, Time For Another Drop In BTC?

Bitcoin price started a steady increase above the $62,500 resistance. BTC is again struggling to clear the $64,500 and $65,000 resistance levels.

Bitcoin is showing positive signs and facing hurdles near $64,500.
The price is trading above $62,500 and the 100 hourly Simple moving average.
There is a key bullish trend line forming with support at $62,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could struggle to clear the $64,500 and $65,000 resistance levels.

Bitcoin Price Faces Resistance

Bitcoin price found support near the $56,500 zone and started a decent increase. There was a clear move above the $60,000 and $61,200 resistance levels.

The bulls pushed the price above the $63,500 level and the 100 hourly Simple moving average. However, the bears are again active near the $64,500 and $65,000 resistance levels. A high was formed at $64,646 and the price is now consolidating gains.

It is stable above the 23.6% Fib retracement level of the upward move from the $56,378 swing low to the $64,646 high. There is also a key bullish trend line forming with support at $62,800 on the hourly chart of the BTC/USD pair.

Bitcoin is now trading above $62,500 and the 100 hourly Simple moving average. Immediate resistance is near the $64,500 level. The first major resistance could be $65,000. The next key resistance could be $65,500.

Source: BTCUSD on TradingView.com

A clear move above the $65,500 resistance might send the price higher. The next resistance now sits at $66,800. If there is a clear move above the $66,800 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $68,000.

Another Decline In BTC?

If Bitcoin fails to rise above the $64,500 resistance zone, it could start another decline. Immediate support on the downside is near the $62,800 level and the trend line.

The first major support is $61,500. If there is a close below $61,500, the price could start to drop toward the 61.8% Fib retracement level of the upward move from the $56,378 swing low to the $64,646 high at $59,500. Any more losses might send the price toward the $58,000 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.

Major Support Levels – $62,500, followed by $61,500.

Major Resistance Levels – $64,500, $65,000, and $65,500.

3rd May 2024

SOL Price Pops 10%, Can Solana Bulls Regain Strength?

Solana started a recovery wave from the $120 zone. SOL price is rising and might accelerate higher if there is a close above the $142 resistance.

SOL price recovered higher and tested the $140 resistance against the US Dollar.
The price is now trading below $142 and the 100 simple moving average (4 hours).
There was a break above a key bearish trend line with resistance at $132 on the 4-hour chart of the SOL/USD pair (data source from Kraken).
The pair could start another decline if it stays below $142 and $150.

Solana Price Faces Resistance

Solana price extended losses below the $150 and $140 support levels. SOL tested the $120 zone and recently started an upside correction, like Bitcoin and Ethereum.

There was a decent increase above the $125 and $130 levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $160 swing high to the $118 low. There was a break above a key bearish trend line with resistance at $132 on the 4-hour chart of the SOL/USD pair.

It even spiked above the $140 zone and the 100 simple moving average (4 hours), but there is no hourly close. The bears are currently active near the 50% Fib retracement level of the downward wave from the $160 swing high to the $118 low.

Source: SOLUSD on TradingView.com

Solana is now trading below $142 and the 100 simple moving average (4 hours). Immediate resistance is near the $142 level. The next major resistance is near the $150 level. A successful close above the $150 resistance could set the pace for another major increase. The next key resistance is near $160. Any more gains might send the price toward the $175 level.

Another Decline in SOL?

If SOL fails to rally above the $142 resistance, it could start another decline. Initial support on the downside is near the $132 level.

The first major support is near the $128 level, below which the price could test $120. If there is a close below the $120 support, the price could decline toward the $105 support in the near term.

Technical Indicators

4-Hours MACD – The MACD for SOL/USD is gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.

Major Support Levels – $132, and $128.

Major Resistance Levels – $142, $150, and $175.

3rd May 2024

Ethereum Price Could Rally If It’s Able To Reclaims The 100 SMA

Ethereum price started a recovery wave from the $2,820 zone. ETH is rising and now facing a major hurdle near the 100-hourly simple moving average.

Ethereum found support at $2,820 and started a recovery wave.
The price is trading below $3,050 and the 100-hourly Simple Moving Average.
There was a break above a key bearish trend line with resistance at $3,000 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh decline if it fails to clear the $3,050 resistance.

Ethereum Price Faces Key Hurdle

Ethereum price extended losses below the $3,000 level, like Bitcoin. ETH even tested the $2,820 support zone. A low was formed at $2,813 and the price started a recovery wave.

There was a decent move above the $2,880 and $2,950 resistance levels. The price cleared the 23.6% Fib retracement level of the downward move from the $3,355 swing high to the $2,813 low. Besides, there was a break above a key bearish trend line with resistance at $3,000 on the hourly chart of ETH/USD.

However, the bears are active near the 100-hourly Simple Moving Average. Ethereum is now trading below $3,030 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,030 level. The first major resistance is near the $3,050 level.

The next key resistance sits at $3,085 or the 50% Fib retracement level of the downward move from the $3,355 swing high to the $2,813 low, above which the price might gain traction and rise toward the $3,150 level.

Source: ETHUSD on TradingView.com

If the bulls remain in action and push the price above $3,150, there could be a drift toward the $3,250 resistance. Any more gains could send Ether toward the $3,350 resistance zone.

Another Decline In ETH?

If Ethereum fails to clear the $3,050 resistance, it could start another decline. Initial support on the downside is near the $2,940 level. The first major support is near the $2,880 zone.

The main support is near the $2,820 level. A clear move below the $2,820 support might push the price toward $2,740. Any more losses might send the price toward the $2,650 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $2,940

Major Resistance Level – $3,050

3rd May 2024

Bitcoin Price Recovery Could Face Many Hurdles Near $60K, Here’s Why

Bitcoin price found support near the $56,350 zone. BTC is recovering higher, but the bears might be active near the $60,000 resistance zone.

Bitcoin is attempting a recovery wave from the $56,350 support zone.
The price is trading below $60,000 and the 100 hourly Simple moving average.
There was a break above a key bearish trend line with resistance at $57,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could struggle to clear the $60,000 and $60,500 resistance levels.

Bitcoin Price Faces Resistance

Bitcoin price extended losses below the $60,000 level to enter a short-term bearish zone. BTC even traded below the $58,000 level before the bulls appeared near the $56,350 level.

A low was formed at $56,378 and the price started a decent recovery wave. The price climbed above the $58,000 resistance zone. There was a break above a key bearish trend line with resistance at $57,800 on the hourly chart of the BTC/USD pair.

The price climbed above the 23.6% Fib retracement level of the downward wave from the $64,738 swing high to the $56,378 low. Bitcoin is still trading below $60,000 and the 100 hourly Simple moving average.

Immediate resistance is near the $60,000 level. The first major resistance could be $60,500. It is close to the 50% Fib retracement level of the downward wave from the $64,738 swing high to the $56,378 low. The next key resistance could be $61,500.

Source: BTCUSD on TradingView.com

A clear move above the $61,500 resistance might send the price higher. The next resistance now sits at $63,400. If there is a clear move above the $63,400 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $65,000.

Rejection In BTC?

If Bitcoin fails to rise above the $60,500 resistance zone, it could start another decline. Immediate support on the downside is near the $58,500 level.

The first major support is $57,800. If there is a close below $57,800, the price could start to drop toward $56,350. Any more losses might send the price toward the $55,000 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $57,000, followed by $56,500.

Major Resistance Levels – $60,000, $60,500, and $61,500.

2nd May 2024

DOGE Price Prediction – Dogecoin Reaches Make-or-Breaks Levels

Dogecoin extended losses and traded below the $0.1350 resistance zone against the US Dollar. DOGE is now testing an important support at $0.1200.

DOGE gained bearish momentum below the $0.140 and $0.1350 levels against the US dollar.
The price is trading below the $0.1350 level and the 100 simple moving average (4 hours).
There is a major bearish trend line forming with resistance at $0.1350 on the 4-hour chart of the DOGE/USD pair (data source from Kraken).
The price must settle above $0.1420 to move into a positive zone and start a fresh surge.

Dogecoin Price Extends Losses

After a close below $0.150, Dogecoin price extended losses and moved into a short-term bearish zone, like Bitcoin and Ethereum. There was a drop below the $0.1350 support zone.

A low was formed at $0.1201 and DOGE is now consolidating losses. There was a minor recovery wave above the $0.1250 level. The price tested the 23.6% Fib retracement level of the downward move from the $0.1640 swing high to the $0.1201 low.

However, the bears protected more gains above the $0.130 resistance. Dogecoin is also below the $0.1420 level and the 100 simple moving average (4 hours). On the upside, the price is facing resistance near the $0.130 level.

Source: DOGEUSD on TradingView.com

The next major resistance is near the $0.1350 level. There is also a major bearish trend line forming with resistance at $0.1350 on the 4-hour chart of the DOGE/USD pair. The main hurdle is at $0.1420. A close above the $0.1420 resistance and the 50% Fib retracement level of the downward move from the $0.1640 swing high to the $0.1201 low might send the price toward the $0.1550 resistance. Any more gains might send the price toward the $0.1620 level.

More Losses in DOGE?

If DOGE’s price fails to gain pace above the $0.1350 level, it could start another decline. Initial support on the downside is near the $0.1220 level.

The next major support is near the $0.120 level. If there is a downside break below the $0.120 support, the price could decline further. In the stated case, the price might decline toward the $0.1040 level.

Technical Indicators

4 Hours MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

4 Hours RSI (Relative Strength Index) – The RSI for DOGE/USD is now below the 50 level.

Major Support Levels – $0.1240, $0.1200 and $0.1040.

Major Resistance Levels – $0.1300, $0.1350, and $0.1420.

2nd May 2024

Ethereum Price Revisits Key Support, Can Bears Take Over?

Ethereum price started another decline and traded below $2,920. ETH could gain bearish momentum if there is a close below the $2,800 support zone.

Ethereum remained in a bearish zone and traded below the $2,900 zone.
The price is trading below $2,950 and the 100-hourly Simple Moving Average.
There is a connecting bearish trend line forming with resistance at $3,050 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move down if it stays below the $3,050 resistance.

Ethereum Price Extends Losses

Ethereum price remained in a bearish zone below the $3,120 level, like Bitcoin. ETH traded below the $3,000 level. The bears even pushed the price below the $2,920 level.

A low was formed at $2,813 and the price is now consolidating. There was a minor increase above the $2,900 level. The price tested the 23.6% Fib retracement level of the downward wave from the $3,355 swing high to the $2,813 low. However, the bears were active near the $2,950 and $2,965 levels.

Ethereum is now trading below $3,000 and the 100-hourly Simple Moving Average. Immediate resistance is near the $2,965 level. The first major resistance is near the $3,050 level and the 100-hourly Simple Moving Average.

There is also a connecting bearish trend line forming with resistance at $3,050 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the downward wave from the $3,355 swing high to the $2,813 low.

Source: ETHUSD on TradingView.com

The next key resistance sits at $3,085, above which the price might gain traction and rise toward the $3,150 level. A close above the $3,150 resistance could send the price toward the $3,250 resistance. If there is a move above the $3,250 resistance, Ethereum could even test the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone.

More Downsides In ETH?

If Ethereum fails to clear the $3,050 resistance, it could continue to move down. Initial support on the downside is near the $2,850 level. The first major support is near the $2,820 zone.

The main support is near the $2,820 level. A clear move below the $2,820 support might push the price toward $2,650. Any more losses might send the price toward the $2,540 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $2,820

Major Resistance Level – $3,050

2nd May 2024

Bitcoin Price Settles Below $60K, Is This A Critical Bearish Sign?

Bitcoin price extended losses and settled below $60,000. BTC is now consolidating losses near $58,000 and remains at risk of more downsides in the near term.

Bitcoin extended losses and traded below the $60,000 zone.
The price is trading below $59,000 and the 100 hourly Simple moving average.
There is a major bearish trend line forming with resistance at $58,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could continue to move down since there is a daily close below the $60,000 zone.

Bitcoin Price Takes Hit

Bitcoin price remained in a bearish zone and traded below the $60,500 support level. BTC even settled below the $60,000 level to enter a short-term bearish zone.

There was a drop below the $58,000 level. A low was formed at $56,378 and the price is now consolidating losses. There was a minor increase toward the $58,000 level and the 23.6% Fib retracement level of the downward move from the $64,740 swing high to the $56,378 low.

Bitcoin is now trading below $58,500 and the 100 hourly Simple moving average. Immediate resistance is near the $58,000 level. There is also a major bearish trend line forming with resistance at $58,000 on the hourly chart of the BTC/USD pair.

The first major resistance could be $59,200. The next key resistance could be $60,500 or the 50% Fib retracement level of the downward move from the $64,740 swing high to the $56,378 low.

Source: BTCUSD on TradingView.com

A clear move above the $60,500 resistance might send the price higher. The next resistance now sits at $61,500. If there is a clear move above the $61,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $63,500.

More Losses In BTC?

If Bitcoin fails to rise above the $58,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $57,000 level.

The first major support is $56,500. If there is a close below $56,500, the price could start to drop toward $55,000. Any more losses might send the price toward the $53,500 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $57,000, followed by $56,500.

Major Resistance Levels – $58,500, $60,500, and $61,500.

1st May 2024

DOT Price (Polkadot) Approaches Key Level: Should Traders Brace for Sharp Drop?

Polkadot (DOT) is showing bearish signs below the $8 resistance against the US Dollar. The price could extend its decline if it fails to stay above $6.00.

DOT is gaining pace below the $8.80 and $8.00 levels against the US Dollar.
The price is trading below the $7.20 zone and the 100 simple moving average (4 hours).
There is a key bearish trend line forming with resistance at $6.50 on the 4-hour chart of the DOT/USD pair (data source from Kraken).
The pair could continue to decline toward the $5.00 support zone.

Polkadot Price Resumes Drop

After a steady increase, DOT price faced resistance near the $7.60 zone. It formed a short-term top and started a fresh decline below the $7.00 level, like Ethereum and Bitcoin.

There was a move below the $6.20 support zone. A low was formed near $6.03 and the price is now consolidating losses. It is slowly moving higher above the $6.35 level and the 23.6% Fib retracement level of the downward move from the $7.58 swing high to the $6.03 low.

DOT is now trading below the $7.00 zone and the 100 simple moving average (4 hours). Immediate resistance is near the $6.50 level. There is also a key bearish trend line forming with resistance at $6.50 on the 4-hour chart of the DOT/USD pair.

Source: DOTUSD on TradingView.com

The next major resistance is near $7.00 or the 61.8% Fib retracement level of the downward move from the $7.58 swing high to the $6.03 low. A successful break above $7.00 could start another strong rally. In the stated case, the price could easily rally toward $8.20 in the near term. The next major resistance is seen near the $10.00 zone.

More Downsides in DOT?

If DOT price fails to start a fresh increase above $7.00, it could continue to move down. The first key support is near the $6.00 level.

The next major support is near the $5.65 level, below which the price might decline to $5.00. Any more losses may perhaps open the doors for a move toward the $4.20 support zone or the trend line.

Technical Indicators

4-Hours MACD – The MACD for DOT/USD is now losing momentum in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for DOT/USD is now below the 50 level.

Major Support Levels – $6.00, $5.65 and $5.00.

Major Resistance Levels – $6.50, $7.00, and $8.50.

1st May 2024

Ethereum Price Plunges Over 5%, Can Bears Push ETH Under $2,800?

Ethereum price started another decline and traded below $3,000. ETH must stay above the $2,800 and $2,850 support levels to avoid a major drop.

Ethereum started another decline and tested the $2,900 zone.
The price is trading below $3,120 and the 100-hourly Simple Moving Average.
There is a connecting bearish trend line forming with resistance at $3,120 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move down if it settles below the $2,850 support.

Ethereum Price Dives Again

Ethereum price struggled to gain pace for a move above the $3,250 level and started another decline, like Bitcoin. ETH traded below the $3,120 level. The bears even pushed the price below the $3,000 level.

A low was formed at $2,916 and the price is now consolidating. There was a minor increase above the $3,000 level. The price tested the 23.6% Fib retracement level of the downward move from the $3,356 swing high to the $2,916 low. However, the bears were active near the $3,000 and $3,020 levels.

Ethereum is now trading below $3,120 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,020 level. The first major resistance is near the $3,120 level and the 100-hourly Simple Moving Average.

There is also a connecting bearish trend line forming with resistance at $3,120 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the downward move from the $3,356 swing high to the $2,916 low.

Source: ETHUSD on TradingView.com

The next key resistance sits at $3,185, above which the price might gain traction and rise toward the $3,250 level. A close above the $3,250 resistance could send the price toward the $3,350 resistance. If there is a move above the $3,350 resistance, Ethereum could even test the $3,500 resistance. Any more gains could send Ether toward the $3,620 resistance zone.

More Downsides In ETH?

If Ethereum fails to clear the $3,120 resistance, it could continue to move down. Initial support on the downside is near the $2,940 level and the channel zone. The first major support is near the $2,850 zone.

The main support is near the $2,800 level. A clear move below the $2,800 support might push the price toward $2,650. Any more losses might send the price toward the $2,540 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $2,940

Major Resistance Level – $3,120

1st May 2024

Bitcoin Price Nosedives, Can Bulls Save The Key Support at $60K?

Bitcoin price took a hit and even spiked below $60,000. BTC could gain bearish momentum if there is a daily close below the $60,000 support zone.

Bitcoin started another decline and traded below the $61,200 zone.
The price is trading below $62,000 and the 100 hourly Simple moving average.
There is a connecting bearish trend line forming with resistance at $60,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could accelerate lower if it fails to recover above $60,400 and then $62,000 this week.

Bitcoin Price Reaches Support

Bitcoin price started another decline below the $62,500 support level. BTC dropped below the $61,200 level as the bears took control. They even managed to push the price below $60,000.

A low was formed at $59,110 and the price is now consolidating losses. There was a minor increase above the $60,000 level and the 23.6% Fib retracement level of the recent decline from the $64,738 swing high to the $59,110 low.

Bitcoin is now trading below $61,500 and the 100 hourly Simple moving average. Immediate resistance is near the $60,400 level. There is also a connecting bearish trend line forming with resistance at $60,400 on the hourly chart of the BTC/USD pair.

The first major resistance could be $61,200. The next key resistance could be $62,000 or the 50% Fib retracement level of the recent decline from the $64,738 swing high to the $59,110 low.

Source: BTCUSD on TradingView.com

A clear move above the $62,000 resistance might send the price higher. The next resistance now sits at $62,500. If there is a clear move above the $62,500 resistance zone, the price could continue to move up. In the stated case, the price could rise toward $64,000.

More Downsides In BTC?

If Bitcoin fails to rise above the $60,400 resistance zone, it could continue to move down. Immediate support on the downside is near the $59,500 level.

The first major support is $59,100. If there is a close below $59,100, the price could start to drop toward $58,000. Any more losses might send the price toward the $56,400 support zone in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $59,500, followed by $59,100.

Major Resistance Levels – $60,400, $61,200, and $62,000.

30th April 2024

XRP Price Prediction – Will Bearish Trend Push Prices Under $0.50?

XRP price is struggling to recover above the $0.520 resistance. The price could gain bearish momentum if it breaks the $0.50 support.

XRP is attempting a fresh increase and facing hurdles near $0.520.
The price is now trading near $0.5150 and the 100 simple moving average (4 hours).
There is a major bearish trend line forming with resistance at $0.520 on the 4-hour chart of the XRP/USD pair (data source from Kraken).
The pair could gain bullish momentum if there is a close above the $0.520 resistance.

XRP Price Aims Upside Break

Recently, XRP price climbed above the $0.550 resistance and tested $0.570. A high was formed at $0.5705 before there was a pullback like Bitcoin and Ethereum. The price dipped below the $0.5250 support zone.

It even spiked below $0.500 and tested $0.4980. A low was formed at $0.4990 and the price is now consolidating near the 23.6% Fib retracement level of the downward move from the $0.5705 swing high to the $0.4990 low. It also trades near $0.5150 and the 100 simple moving average (4 hours).

Immediate resistance is near the $0.520 level. There is also a major bearish trend line forming with resistance at $0.520 on the 4-hour chart of the XRP/USD pair.

Source: XRPUSD on TradingView.com

The next key resistance is near $0.5350 or the 50% Fib retracement level of the downward move from the $0.5705 swing high to the $0.4990 low. A close above the $0.5350 resistance zone could spark a strong increase. The next key resistance is near $0.570. If the bulls remain in action above the $0.570 resistance level, there could be a rally toward the $0.620 resistance. Any more gains might send the price toward the $0.680 resistance.

More Losses?

If XRP fails to clear the $0.520 resistance zone, it could start another decline. Initial support on the downside is near the $0.500 level.

The next major support is at $0.490. If there is a downside break and a close below the $0.490 level, the price might accelerate lower. In the stated case, the price could retest the $0.460 support zone.

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now near the 50 level.

Major Support Levels – $0.500, $0.4990, and $0.460.

Major Resistance Levels – $0.520, $0.5350, and $0.570.