Bitcoin saw a 7.51% price increase over the past week that allowed it to rise above the previous range it was trading within. The cryptocurrency broke above the upper boundary at ,800 and continued to surge much higher as it reached expected resistance at the 200-days EMA at around ,160. The cryptocurrency did climb even higher than this as it approached the resistance at ,458 but it quickly rolled over and started to fall. After reversing at the 200-days EMA, Bitcoin started to fall slightly to meet support at the .382 Fib Retracement level at ,809, where a rebound was seen.If the buyers can continue to rebound higher from the support at ,809, immediate resistance above is expected at ,051 (bearish .5 Fib Retracement) and at ,150 (200-days EMA). Above this, resistance is
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Yaz Sheikh considers the following as important: Bitcoin SV, Market Updates, Price Analysis, Tezos
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Bitcoin saw a 7.51% price increase over the past week that allowed it to rise above the previous range it was trading within. The cryptocurrency broke above the upper boundary at $7,800 and continued to surge much higher as it reached expected resistance at the 200-days EMA at around $8,160. The cryptocurrency did climb even higher than this as it approached the resistance at $8,458 but it quickly rolled over and started to fall.
After reversing at the 200-days EMA, Bitcoin started to fall slightly to meet support at the .382 Fib Retracement level at $7,809, where a rebound was seen.
If the buyers can continue to rebound higher from the support at $7,809, immediate resistance above is expected at $8,051 (bearish .5 Fib Retracement) and at $8,150 (200-days EMA). Above this, resistance is located at $8,300 and $8,416 (bearish .618 Fib Retracement). Following this, resistance lies at $8,690 and $9,000. Alternatively, if the sellers push Bitcoin beneath $7,809, support is found at $7,700, $7,580, and $7,441 (short term .618 Fib Retracement).
Ethereum managed to increase by a total of 5% this week, allowing the cryptocurrency to rise to the $139.50 level. Ethereum did climb further higher than this earlier in the week but rolled over after reaching the $145 level. The cryptocurrency went on to find support at the short term .382 Fib Retracement at around $137.88, which allowed ETH to rebound slightly.
Moving forward, if the bulls can continue to rebound from $137 and break above $140, an initial resistance is located at $145. Above this, resistance lies at $148 (1.272 Fib Extension), $152 (December highs), and $155.90 (1.618 Fib Extension and 100-days EMA). Alternatively, if the sellers push ETH beneath $137.88, immediate support is located at $133.50 which is further bolstered by the .618 Fib Retracement. Beneath this, support is expected at $130, $128, and $120.
Against Bitcoin, ETH continued to grind slowly higher toward the 0.0185 BTC level, however, when it reached this level of resistance, Ethereum rolled over and plummetted precipitously. It fell into the support at 0.0175 BTC but continued to spike lower as it reached a low of 0.0169 BTC before rebounding higher to 0.0177 BTC.
If the bulls can continue to drive ETH higher from here, the first level of resistance is located at 0.0179 BTC. Above this, resistance lies at 0.0185 BTC, 0.019 BTC and 0.01966 BTC (100-days EMA). On the other hand, if the sellers push ETH beneath the support at 0.0175 BTC, the support below is expected at 0.0171 BTC and 0.0169 BTC. Following this, additional support is found at 0.0164 BTC.
XRP finally broke toward the upside of the previous trading range as it penetrated above the $0.20 level this week. The cryptocurrency then went on to surge by a total of 24% to reach the resistance at the 100-days EMA at around $0.2345. XRP rolled over from here and fell back into the $0.20 level where it found support.
IF the buyers can continue to allow XRP to drive higher from the $0.20 support, the first level of resistance is located at $0.212. If the bulls continue to break above $0.22, higher resistance lies at $0.228 (bearish .382 Fib Retracement) and $0.2345 (100-days EMA). Above this, resistance is located at $0.24 and $0.251. Alternatively, if the sellers push XRP beneath $0.20, support lies at $0.195, $0.185, and $0.0181.
Against BTC, XRP bounced higher from the 2600 SAT level and started to surge aggressively. It climbed as high as 2900 SAT before meeting resistance provided by a 2-month-old downward sloping trend line which caused it to roll over. XRP then went on to drop significantly as it plummeted as low as 2530 SAT (.886 Fib Retracement) before bouncing higher toward 2616 SAT.
Looking ahead, if the bulls continue to allow XRP to rise from 2600 SAT, resistance is located at 2710 SAT, 2752 SAT, and 2800 SAT. Above this, resistance lies at 2900 SAT, 2970 SAT (100-days EMA), and 3000 SAT. On the other hand, if the sellers push XRP lower, support is expected at 2350 SAT. Beneath this, additional support is located at 2455 SAT and 2400 SAT.
Tezos moved sideways this week after it increases by a small 1% to remain above the $1.30 level. The cryptocurrency had found solid support at the 100-days EMA nad has managed to remain above this for 2020. Furthermore, the market is also supported by a 3-month-old rising trend line, adding to the expected support here.
Looking ahead, if the bulls manage to hold the $1.30 support and climb higher, the first level of resistance is expected at $1.40. Above this resistance lies at $1.54, $1.64, and $1.74. On the other hand, if the sellers push XTZ beneath the support at $1.30 and the 100-days EMA, immediate support is expected at $1.20 (200-days EMA). Beneath this, support lies at $1.15 (.618 Fib Retracement) and $1.07.
Against BTC, Tezos has also been battling to remain above the 100-days EMA. The cryptocurrency fell as low as 0.000157 BTC (downside 1.272 Fib Extension) where support was found allowing Tezos to rebound. It is now struggling to break resistance at 0.000169 BTC.
If the bulls manage to break above 0.00017 BTC, higher resistance lies at 0.00018 BTC and 0.000189 BTC. Above this, resistance lies at 0.000193 BTC and 0.0002 BTC. Alternatively, if the sellers push XTZ beneath 0.0001577 BTC, support is found at 0.000149 BTC (.618 Fib Retracement). This level of support is further bolstered by the 200-days EMA. Beneath this, additional support is found at 0.00014 BTC and 0.000133 BTC.
Bitcoin SV saw an extraordinary pump this week which saw the cryptocurrency rise by a total of 35% – making it the strongest performing top 10 cryptocurrency project. This latest price surge allowed BSV to climb above the 200-days EMA and toward $136 as it looks to head toward $150.
Looking ahead, if the bulls continue to surge, the first level of strong resistance is expected at $142. Above this, resistance lies at $146.73 (long term bearish .382 Fib Retracement), $150, and $159 (1.272 Fib Extension). On the other hand, if the sellers step back in and push it lower, support is located at $120, $112 (200-days EMA), and $101.
Against BTC, BSV has also surged significantly as it breaks above the previous resistance at 0.0154 BTC and rises into resistance at 0.0175 BTC provided by the long term bearish .382 Fib Retracement. The resistance here might be a little too strong for BSV to overcome, but only time will tell if this surge will continue higher.
Looking ahead, If the bulls manage to break above the 0.0175 BTC resistance, higher resistance lies at 0.0181 BTC (1.414 Fib Extension) and 0.0194 (1.618 Fib Extension). Above this, resistance lies at 0.02 BTC (bearish .5 Fib Retracement). Alternatively, if BSV rolls over and falls, the first level of strong support lies at 0.0154 BTC. Beneath this, support lies at 0.014 BTC (200-days EMA) and 0.0126 BTC.