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Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink

Summary:
Bitcoin Bitcoin saw a small 2.6% price increase from where it was trading seven days ago. However, it had dropped substantially throughout the week. The cryptocurrency fell beneath support at the rising trend line to find additional support at the ,447 level (short term .618 Fib Retracement). From here, Bitcoin rebounded yesterday to climb back above the ,000 level where it currently trades. Looking ahead, the first level of resistance lies at ,200 (bearish .5 Fib Retracement). Above this, strong resistance lies at ,400, which had caused problems during early April 2020. If the bulls can break ,400, resistance lies at ,600 (100-days EMA), ,700, and ,000 (bearish .618 Fib Retracement & 200-days EMA). On the other side, if the sellers break ,000 again, support lies at

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Yaz Sheikh considers the following as important: , , , , , , , , , , , , , , , , , ,

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Bitcoin

Bitcoin saw a small 2.6% price increase from where it was trading seven days ago. However, it had dropped substantially throughout the week. The cryptocurrency fell beneath support at the rising trend line to find additional support at the $6,447 level (short term .618 Fib Retracement).

From here, Bitcoin rebounded yesterday to climb back above the $7,000 level where it currently trades.

Looking ahead, the first level of resistance lies at $7,200 (bearish .5 Fib Retracement). Above this, strong resistance lies at $7,400, which had caused problems during early April 2020. If the bulls can break $7,400, resistance lies at $7,600 (100-days EMA), $7,700, and $8,000 (bearish .618 Fib Retracement & 200-days EMA).

On the other side, if the sellers break $7,000 again, support lies at $6,800, $6,660 (.5 Fib Retracement), and $6,450 (.618 Fib Retracement).

Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink
BTC/USD. Source: TradingView

Ethereum

Ethereum saw a 7.6% price increase from where it was trading seven days ago as it reaches the $170 level.

The cryptocurrency had rolled over from resistance at the 100-days EMA to drop as low as $150 (.5 Fib retracement) during the week. It has since rebounded from here to reach as high as $175 as it now battles with the 100-days EMA resistance again.

From above, the first level of resistance lies at $175. Above this, resistance lies at $180 (200-days EMA), $190 (bearish .5 Fib Retracement), $195, and $200. Beyond $200, added resistance lies at $211 (bearish .618 Fib Retracement).

On the other hand, if the sellers push lower, the first level of support lies at $165. Beneath this, support lies at $155 (.382 Fib Retracement), $150 (.5 Fib Retracement), and $140.

Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink
ETH/USD. Source: TradingView

Against Bitcoin, Ethereum managed to hold strong at the previously highlighted support at 0.0229 BTC (short term .236 Fib Retracement). It rebounded from here yesterday to reach as high as 0.0247 BTC, which is resistance provided by a bearish .618 Fib Retracement.

ETH has dropped slightly from there but remains above 0.024 BTC.

If the bulls continue higher, the first two levels of resistance lie at 0.0247 BTC (bearish .618 Fib Retracement) and 0.025 BTC. Above this, resistance is located at 0.026 BTC (bearish .786 Fib Retracement), 0.0263 BTC, and 0.027 BTC.

Alternatively, the first level of support lies at 0.024 BTC. Beneath this, support lies at 0.0229 BTC, 0.0223 BTC (200-days EMA), and 0.022 BTC (short term .5 Fib Retracement).

Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink
ETH/BTC. Source: TradingView

Ripple

XRP pretty much has not changed the price from where it was seven days ago. This week, the cryptocurrency fell beneath the 6-week-old rising trend line, but it managed to find strong support at the $0.18 level (short term .236 Fib Retracement).

It rebounded from there but ran into resistance at a bearish .618 Fib Retracement at $0.191 and has been unable to overcome this level for the past 7-days.

From above, the first level of resistance is located at $0.191. Beyond this, resistance lies at $0.20, $0.21 (100-days EMA), and $0.217. Additional resistance is then located at $0.234 (200-days EMA), and $0.24.

Alternatively, the first level of support lies at $0.18. Beneath this, support lies at $0.171, $0.165 (.382 Fib Retracement), and $0.152 (.5 Fib Retracement).

Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink
XRP/USD. Source: TradingView

Against Bitcoin, XRP was unable to overcome the strong resistance at 2750 SAT this week. The 100-days EMA provided the resistance here, and it caused XRP to roll over against Bitcoin.

After reversing, XRP managed to find support in the 2710 SAT region. However, it broke beneath this level yesterday as it drops into the 2670 SAT region.

From below, the nearest level of support lies at 2620 SAT (.5 Fib Retracement). Beneath this, added support lies at 2600 SAT, 2560 SAT (.618 Fib Retracement), and 2525 SAT.

On the other side, the first level of strong resistance is located at 2710 SAT. Above this, resistance lies at 2750 SAT (100-days EMA), 2800 SAT, and 2850 SAT.

Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink
XRP/BTC. Source: TradingView

Binance Coin

Binance Coin has seen a strong 12.5% price increase over the past seven days of trading as the cryptocurrency reaches the $15.50 level. It has met resistance here provided by the 100-days EMA and must overcome this to continue the bull run.

Above the 100-days EMA, resistance lies at $16.74 (bearish .5 Fib Retracement), $17.40 (200-days EMA), and $18 (1.618 Fib Extension).

Toward the downside, support lies at $15, $14.60, the rising support trend line, and $14. Beneath $14, added support lies at $13 and $12.15.

Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink
BNB/USD. Source: TradingView

Against Bitcoin, BNB had been on a rampage after rebounding from support at 0.002 BTC. It went on to climb as high as 0.0023 BTC this week, where it found resistance at a bearish .618 Fib Retracement level.

It since dropped lower to find the current support at 0.0022 BTC, provided by a short term .236 Fib Retracement.

If the sellers break 0.0022 BTC, support is expected at 0.00217 BTC (200-days EMA). Beneath this, added support lies at 0.00212 BTC (.382 Fib Retracement), 0.00208 BTC (100-days EMA), and 0.0206 (.5 Fib Retracement).

On the other side, the first level of resistance is located at 0.00226 BTC. Above this, resistance lies at 0.0023 BTC (bearish .618 Fib Retracement), 0.00235 BTC , and 0.00244 BTC (bearish .786 Fib Retracement).

Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink
BNB/BTC. Source: TradingView

Chainlink

Link saw a strong 11% price increase over the past seven days of trading. During the week, the cryptocurrency met resistance at $3.60 (bearish .618 Fib Retracement), which caused it to drop into the $3.10 region where support is provided by a .382 Fib Retracement.

It has bounced from here to climb as high as $3.50 where it currently trades.

From above, the first level of resistance lies at $3.50. Above this, resistance lies at $3.61 (bearish .618 Fib Retracement), $3.75, and $4.05 (1.272 Fib Extension). Additional resistance lies at $4.22 (bearish .786 Fib Retracement), and $4.50.

If the sellers push lower, the first level of support lies at $3.34. Beneath this, support lies at $3.10 (.382 Fib Retracement), $2.93 (.5 Fib Retracement), and $2.76 (.618 Fib Retracement).

Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink
LINK/USD. Source: TradingView

Against Bitcoin, LINK surged into resistance at 0.00051 BTC (bearish .786 Fib Retracement) this week. It went on to drop into support at 0.00047 BTC and has rebounded higher from here to reach 0.00048 BTC.

From above, the first level of resistance lies at 0.0005 BTC. Above this, resistance lies at 0.000514 BTC (bearish .786 Fib Retracement), 0.000532 BTC (1.618 Fib Extension), and 0.00055 BTC.

On the other side, support lies at 0.00047 BTC (.236 Fib Retracement), 0.00046 BTC, 0.000444 BTC (.382 Fib Retracement), and 0.000422 BTC (.5 Fib Retracement).

Crypto Price Analysis & Overview April 17th: Bitcoin, Ethereum, Ripple, Binance Coin, And Chainlink
LINK/BTC. Source: TradingView

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