After the increased pressure of sellers on the cryptocurrency market during the whole previous week, at the weekend the price was concentrated in a relatively narrow range of $ 6,500- $ 7,000, almost without going beyond it.
Recall that Easter is celebrated on April 2, so that day the volume of trading on exchanges may be lower than usual. Total capitalization has been falling rapidly for several weeks in a row, as a result of which sellers on Sunday were able to grope for $ 6,340 support, which at the moment is a pretty strong obstacle for them. MACD points to bearish dynamics, consolidating below the zero mark.
Proceeding from this, a good point for entering long positions is the ark of $ 6,500 – but for this we need a second rebound from $ 6,340 support. Sales can start in the case of a rebound from the $ 7,800 resistance.
With the test of $ 345 support, the Ethereum continues to bargain near the local low, with powerful pressure on customers and leaving them no chance of recovery. Nevertheless, next to the current prices, we can see a significant levels for buyers, purchases from which can provoke the bullish impulse. Judging by Bollinger Bands, the price is preparing to break through the middle lane, which may also indicate long positions, MACD also, is preparing to cross the zero mark from bottom to top, so we will be ready to open long positions from $ 380, after rebound from $ 345 support, as well as breaking through the $ 520 resistance.
Just like the others Ripple jumped into the deep from above the $0.6000 level. The price declined and broke the $0.5500 and $0.5000 support levels. The downside move was strong and the price traded as low as $0.4496 recently. Upside move pushed price to a $0.4500 level. The MACD for XRP/USD is again moving back in the bearish zone.
However, the upside move was protected by a major barrier near the $0.4850-0.4900 zone. On the 1h chart XRP breaced bearish trend line resistance around the $0.4900 on. Further above, the $0.5200 resistance is the next barrier for buyers. But for now it clear that it will be very hard to cross that point.
Currently it’s advised to refrain from trading in this pair.
Bitcoin cash price is under a lot of pressure and is trading well below the $700. But it bounced off $ 625 mark and brought almost 5,75% profit. The MACD for BCH/USD is currently showing recovery signs.
There is a major bearish trend line forming with current resistance at $700 on the hourly chart of the BCH/USD pair (data feed from Binance). The pair has to move above $700 to start a fresh upward wave in the near term. And since it passed through $ 660 it looks like we could see 700$ very soon.
Litecoin was also under significant price changes over the past few days. The coin effortlessly broke $ 127 support, turning it into a resistance. The value of prices reached $ 96 mark, which at the moment is a local low since the beginning of February, but technical indicators, for example MACD, signals for a possible change in the short-term trend from the descending to the ascending trend. Alligator (indicator), judging by the crosshair, also talks about possible changes and warns about the danger of opening positions at current marks. The best solution, in our opinion, at the moment is the opening of long positions after breaking through and securing over $ 127 resistance, at $ 133.