BitcoinBitcoin witnessed a turbulent week after dropping by a total of 5.5% to bring the cryptocurrency back beneath ,000. During the sell-off, Bitcoin fell beneath the previous rising price channel but has managed to rebound at support at ,552, provided by a short term .236 Fib Retracement.Looking ahead, if the buyers push higher, resistance lies at ,800 and ,000. Above this, strong resistance is expected at ,430 (2020 high) and ,700 (1.414 Fib Extension). On the other side, if the sellers push beneath ,550, support lies at ,400, ,140, and ,000. Beneath ,000, additional support is located at ,750 (100-days EMA).BTC/USD. Source: TradingViewEthereum Ethereum managed to climb above the previous 7 resistance but stalled at 7. After reversing, it went on to
Topics:
Yaz Sheikh considers the following as important: Binance Coin (BNB) Price, Bitcoin (BTC) Price, Ethereum (ETH) Price, Market Updates, Price Analysis, Ripple (XRP) Price, Tezos (XTZ) Price
This could be interesting, too:
Andrew Throuvalas writes Strike CEO Predicts Million BTC Amid COVID-Level Money Printing
Chayanika Deka writes No Soft Landing: Here’s Why Robert Kiyosaki Believes the American Economy Is in Depression
George Georgiev writes Bitcoin’s Chop Continues, XRP Gains as Ripple v. SEC Trial Begins, and More: This Week’s Crypto Recap
Mandy Williams writes Here’s a List of Bitcoin (BTC) Price Pullbacks Since the Bear Market Bottom
Bitcoin
Bitcoin witnessed a turbulent week after dropping by a total of 5.5% to bring the cryptocurrency back beneath $10,000. During the sell-off, Bitcoin fell beneath the previous rising price channel but has managed to rebound at support at $9,552, provided by a short term .236 Fib Retracement.
Looking ahead, if the buyers push higher, resistance lies at $9,800 and $10,000. Above this, strong resistance is expected at $10,430 (2020 high) and $10,700 (1.414 Fib Extension). On the other side, if the sellers push beneath $9,550, support lies at $9,400, $9,140, and $9,000. Beneath $9,000, additional support is located at $8,750 (100-days EMA).
Ethereum
Ethereum managed to climb above the previous $277 resistance but stalled at $287. After reversing, it went on to drop by a total of 3% this week as it fell into support at $256, provided by a short term .236 Fib Retracement.
If ETH breaks beneath this, additional support lies at $250, $237 (.382 Fib Retracement), and $221 (.5 Fib Retracement). On the other hand, if the bulls rebound, resistance lies at $268, $277, and $287. Above $290, higher resistance is located at $300 and $310.
Against Bitcoin, ETH climbed above 0.026 BTC resistance but failed to break 0.0278 BTC. It has since fallen but has managed to remain above the support at 0.026 BTC.
Moving forward, if the sellers push beneath 0.026 BTC, support lies at 0.0256 BTC (.236 Fib Retracement) and 0.025 BTC. Beneath this, additional support lies at 0.0242 BTC (.382 Fib Retracement) and 0.02395.
Alternatively, if the bulls overcome 0.0237 BTC, higher resistance lies at 0.0288 BTC, 0.0298 BTC, and 0.0304 BTC (bearish .886 Fib Retracement).
Ripple
XRP failed to penetrate above $0.337 and went on to fall by a steep 15% throughout the week as it drops to $0.27. It remains above the 200-days EMA as the bulls attempt to stabilize the price decline.
Looking ahead, if the sellers break $0.27, support lies at $0.26 (.618 Fib Retracement). Beneath this, additional support lies at $0.25 (100-days EMA), $0.245, and $0.235. Alternatively, toward the upside, resistance lies at $0.28, $0.29, and $0.30.
Against BTC, XRP rolled over from the resistance at the 200-days EMA and plummeted. It recently broke beneath the 100-days EMA but is battling for support at 2820 SAT (.618 Fib Retracement).
If the sellers break 2800 SAT, support is expected at 2710 SAT, 2650 SAT, and 2600 SAT (.886 Fib Retracement). On the other hand, resistance lies at 2850 SAT (100-days EMA), 2900 SAT, and 3000 SAT.
Tezos
Tezos was the strongest performer this week after increasing by a total of 11% to reach a high at $3.94, creating a fresh high not seen since July 2018. It has since dropped to $3.65, but the bulls remain in control.
If the bulls can crack the resistance at $3.94 and break $4.00, higher resistance lies at $4.46 (1.272 Fib Extension), $4.74 (1.414 Fib Extension), and $5.00. On the other side, if the sellers push beneath $3.50, support lies at $3.20, $3.00, and $2.90 (.382 Fib Retracement).
Against BTC, Tezos is also creating some fresh highs as it reaches 0.0004 BTC (1.272 Fib Extension). It has since dropped to 0.00037. However, the buyers remain in strong control.
If they can break above 0.0004 BTC, resistance is expected at 0.000427 (1.414 Fib Extension), 0.00044 BTC, and 0.000465 BTC. On the other side, support lies at 0.000343 BTC (.236 Fib Retracement), 0.00032 BTC, and 0.00030 BTC (.382 Fib Retracement).
Binance Coin
Binance Coin saw a rough 13% price drop over the last seven days but remains up by 25% on the month as it sits at $22.20. The cryptocurrency failed to break $26.64, which had caused it to roll over and fall.
If the sellers push beneath $22, support lies at $21.50, $20.75, and $20. On the other hand, if the bulls break $22.70, resistance lies at $24.16, $25.18, and $26.64.
Against Bitcoin, BNB rolled over from resistance at 0.0026 BTC and dropped all the way to find support at the 200-days EMA. It currently trades just beneath the 0.0023 BTC level.
If it breaks beneath 0.00226 BTC and the 200-days EMA, support is found at 0.0022 BTC and 0.00218 BTC (.618 Fib Retracement). Beneath this, support lies at 0.00213 BTC (100-days EMA) and 0.0021 BTC.
On the other side, if the bulls push higher, resistance lies at 0.00235 BTC. Above this, resistance is located at 0.00242 BTC, 0.0025 BTC, and 0.0026 BTC.
