Rajarshi Mitra
Independent Analyst
- ETH/BTC has charted a bearish cross with SMA 50 crossing above the SMA 20.
- BTC/USD has failed as it neared the $10,025 resistance level.
- ETH/USD has dropped below the $200 level.
ETH/BTC daily chart
-637251107315085924.png)
ETH/BTC went up from 0.0207 to 0.02010 in the early hours of Friday. This followed four straight bullish days, after failing at the 0.02117 resistance line. The SMA 50 has crossed over the SMA 20 to chart a bearish cross. RSI has bounced up from the edge of the oversold zone to 37.50.
On the upside, ETH/BTC has strong resistance at 0.02116 and 0.02117. On the downside, healthy support lies at 0.02044
BTC/USD daily chart
-637251108058251867.png)
BTC/USD dropped from $9,792.80 to $9,495.55 in the early hours of Friday. The price lost steam as soon as it neared the $10,000 psychological level. This means that the bulls probably won’t have the momentum required to break past crucial resistance at $10,025, which has thwarted the price twice before. On the downside, healthy support levels lie at $9,540 and $9,171.
The MACD indicates an upcoming reversal of bearish momentum. Finally, William’s %R is trending around -12.80 inside the overbought zone, indicating that the price is currently overvalued and will face short-term bearish correction.
ETH/USD daily chart
-637251109184110018.png)
ETH/USD bears took control following three straight bullish days as the price fell from $203.33 to $199.90. The price has faltered after encountering resistance at the SMA 20 curve, The MACD shows decreasing bearish momentum, while the Elliott Oscillator has had a green session following 11 straight red sessions.
If the bulls somehow manage to break past the SMA 20, there are two strong resistance levels at $212.50 and $218.25. On the downside, there are healthy support levels at $197.50 and $187.65.
XRP/USD daily chart
-637251109777894016.png)
XRP/USD fell from $0.2040 to $0.2007 as it neared the red Ichimoku cloud. The MACD indicates sustained bearish momentum, while the Elliott Oscillator has had a green session following 12 consecutive red sessions.
XRP/USD bulls will want to take the price up to $0.212 to conquer the strong resistance level and cross above the SMA 20. Beyond that, another strong resistance lies at $0.218. On the downside, healthy support levels lie at $0.196 and $0.182.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Bitcoin Weekly Forecast: BTC nosedives below $95,000 as spot ETFs record highest daily outflow since launch
Bitcoin price continues to edge down, trading below $95,000 on Friday after declining more than 9% this week. Bitcoin US spot ETFs recorded the highest single-day outflow on Thursday since their launch in January.
Bitcoin crashes to $96,000, altcoins bleed: Top trades for sidelined buyers
Bitcoin (BTC) slipped under the $100,000 milestone and touched the $96,000 level briefly on Friday, a sharp decline that has also hit hard prices of other altcoins and particularly meme coins.
Solana Price Forecast: SOL’s technical outlook and on-chain metrics hint at a double-digit correction
Solana (SOL) price trades in red below $194 on Friday after declining more than 13% this week. The recent downturn has led to $38 million in total liquidations, with over $33 million coming from long positions.
SEC approves Hashdex and Franklin Templeton's combined Bitcoin and Ethereum crypto index ETFs
The SEC approved Hashdex's proposal for a crypto index ETF. The ETF currently features Bitcoin and Ethereum, with possible additions in the future. The agency also approved Franklin Templeton's amendment to its Cboe BZX for a crypto index ETF.
Bitcoin: 2025 outlook brightens on expectations of US pro-crypto policy
Bitcoin (BTC) price has surged more than 140% in 2024, reaching the $100K milestone in early December. The rally was driven by the launch of Bitcoin Spot Exchange Traded Funds (ETFs) in January and the reduced supply following the fourth halving event in April.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.