Saturday , May 8 2021
Home / Altcoins / Crypto Price Analysis & Overview April 16th: Bitcoin, Ethereum, Ripple, Binance Coin, and Cardano

Crypto Price Analysis & Overview April 16th: Bitcoin, Ethereum, Ripple, Binance Coin, and Cardano

Summary:
This week was quite bullish for the entire cryptocurrency market. Bitcoin charted a fresh all-time high and so did a lot of other cryptocurrencies. Altcoin season is booming as the BTC dominance continues to decline. Bitcoin Bitcoin saw a 4.2% price hike this week as the coin currency sits at around ,500. BTC had surged higher throughout the week and set a new ATH at around ,000 on Wednesday. Unfortunately, it could not close a daily candle above resistance at ,766 (1.414 Fib Extension) through the week. It has since rolled over from ,766 and dropped beneath the previous ATH price of ,781 to reach the current ,530 level. Looking ahead, the first level of support lies at ,000. This is followed by ,355, ,500, ,670 (.382 Fib), and ,395 (April

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

This could be interesting, too:

Varun GS writes VanEck Files For an Ethereum ETF With The SEC

George Georgiev writes Crypto Market Cap Added 0B in 7 Days as Altcoins Explode: The Weekly Recap

Jordan Lyanchev writes SEC Chairman Gary Gensler Calls for Better Protection for Cryptocurrency Investors

Jordan Lyanchev writes Trailing Bitcoin: Dogecoin (DOGE) Twitter Mentions Skyrocket 140% in 2 Weeks

This week was quite bullish for the entire cryptocurrency market. Bitcoin charted a fresh all-time high and so did a lot of other cryptocurrencies. Altcoin season is booming as the BTC dominance continues to decline.

cryptopost_Friday

Bitcoin

Bitcoin saw a 4.2% price hike this week as the coin currency sits at around $60,500. BTC had surged higher throughout the week and set a new ATH at around $65,000 on Wednesday. Unfortunately, it could not close a daily candle above resistance at $63,766 (1.414 Fib Extension) through the week.

It has since rolled over from $63,766 and dropped beneath the previous ATH price of $61,781 to reach the current $60,530 level.

Looking ahead, the first level of support lies at $60,000. This is followed by $58,355, $57,500, $56,670 (.382 Fib), and $55,395 (April 2021 low).

On the ohter side, the first resistance lies at $61,781 (previous ATH). This is followed by $62,500, $63,766 (1.414 Fib Extension), and $65,000 (ATH). Beyond the ATH, resistance is located at $65,720 (1.618 Fib Extension – blue), $67,000 (1.272 Fib Extension – purple), $70,000, and $71,000.

btcusd-apr16
BTC/USD Daily Chart. Source: TradingView

Ethereum

Ethereum saw a solid 13.7% price hike this week as the coin currently sits at $2370. It started the week by breaking the resistance at $2207 (1.414 Fib Extension). Later on, it continued higher to break resistance at $2300, $2400, and $2500, to set a new ATH price at $2544.

ETH was unable to close a daily candle above resistance at $2517 (1.618 Fib Extension) and has since rolled over from there to reach the current $2370 level.

Looking ahead, if the sellers continue lower, the first support lies at $2300. This is followed by $2200, $2140, $2045 (.5 Fib), and $2000. Beneath $2000, added support lies at $1925 (.618 Fib), $1850, and $1800.

On the other side, the first resistance lies at $2400. This is followed by $2517 (1.618 Fib Extension), $2568 (1.414 Fib Extension – red), $2600, $2680 (1.618 Fib Extension – orange), $2700, and $2752.

ethusd-apr16
ETH/USD Daily Chart. Source: TradingView

ETH also performed well against Bitcoin during the week. The coin managed to break the March 2019 high of 0.0361 BTC on Wednesday as it surged higher above 0.038 BTC. Yesterday, ETH continued to push higher beyond the Feb 2019 High of 0.0396 BTC to reach as high as 0.04.

Unfortunately, it could not close a daily candle above 0.04 BTC and has since dropped to 0.0391 BTC.

Moving forward, if the bears continue to drive ETH beneath 0.039 BTC, the first support lies at 0.038 BTC. This is followed by 0.0374 BTC (.5 Fib), 0.0368 BTC (.618 Fib), and 0.0361 BTC (March 2019 highs). Added support lies at 0.035 BTC.

On the other side, the first resistance lies at 0.0396 BTC (Feb 2019 High). This is followed by 0.04 BTC, 0.0405 BTC (2020 high), 0.0418 BTC (2019 High), and 0.0425 BTC (bearish .786 Fib).

ethbtc-apr16
ETH/BTC Daily Chart. Source: TradingView

Ripple

Ripple continued its epic run this week with another near-50% price surge, pushing the coin’s price to the current $1.57 level. The coin started the week at the $1.00 level as it started to push higher. Throughout the week, XRP had managed to reach as high as $1.98 on Wednesday.

It has since rolled over from there as it dropped beneath support at $1.60 (.236 Fib) to reach the current $1.57 level.

Looking ahead, if the bears continue to push lower, the first support lies at $1.51. This is followed by $1.37 (.382 Fib), $1.25 (Feb 2018 highs), $1.18 (.5 Fib), and $1.00 (.618 Fib).

On the other side, the first resistance lies at $1.77 (1.272 Fib Extension). This is followed by $1.98 (April highs), $2.00, and $2.10 (1.618 Fib Extension). If the buyers continue higher, added resistance lies at $2.20, $2.38 (1.272 Fib Extension) and $2.59 (1.414 Fib Extension).

xrpusd-apr16
XRP/USD Daily Chart. Source: TradingView

Against Bitcoin, XRP also continued to surge as it began the week by breaking the July 2020 lows of 1900 SAT. From there, it continued above 2000 SAT and broke resistance at 2450 SAT (bearish .5 Fib) to reach as high as 3058 SAT on Wednesday.

Unfortunately, it could not close a daily candle above 3000 SAT this week and has since rolled over to the current 2580 SAT level.

Looking ahead, the first support lies at 2450 SAT. this is followed by 2225 SAT (.382 Fib), 2000 SAT (.5 Fib), 1900 SAT (July 2020 lows), and 1720 SAT (.618 Fib).

On the other side, the first resistance lies at 2877 SAT (bearish .618 Fib). This is followed by 3000 SAT, 3200 SAT, and 3360 SAT (Feb 2020 Highs). Added resistance is found at 3485 SAT (bearish .786 Fib) and 3635 SAT.

xrpbtc-apr16
XRP/BTC Daily Chart. Source: TradingView

Binance Coin

BNB also saw an impressive performance this week in which it managed to surge by a strong 24.7% to reach the current $520 level. The cryptocurrency had surged higher, setting a new ATH price at $638 on Monday.

It could not close a daily candle above the $600 mark and has since rolled over from there to reach the current $520 level.

Moving forward, the first support lies at $500. This is followed by $477.66 (.382 Fib), $450, $430 (.5 Fib), $400, and $381 (.618 Fib).

On the other side, the first resistance lies at $550. This is followed by $600, $638 (ATH Price), $650, and $700. Beyond $700, added resistance lies at $755, $800, and $815.

bnbusd-apr16
BNB/USD Daily Chart. Source: TradingView

Against Bitcoin, BNB is also performing very well after setting a new ATH price at 0.0105 BTC earlier in the week on Monday. Again, BNB could not close a daily candle above the 0.01 BTC level and has since rolled over from there to reach the current 0.00858 BTC level. It bounced from support at 0.00818 BTC (.382 Fib) earlier in the day.

Looking ahead, the first support lies at 0.00818 BTC (.382 Fib). This is followed by 0.008 BTC, 0.00747 BTC (.5 Fib), 0.00676 BTC (.618 Fib), and 0.006 BTC.

On the other side, the first resistance lies at 0.009 BTC. This is followed by 0.01 BTC, 0.0105 BTC (ATH), and 0.011 BTC. Added resistance lies at 0.0121 BTC (1.272 Fib Extension), 0.0129 BTC (1.414 Fib Extension), and 0.014 BTC.

bnbbtc-apr16
BNB/BTC Daily Chart. Source: TradingView

Cardano

ADA saw a healthy 12.5% price hike this week as the coin set a new ATH price at $1.55. The coin started the week by rebounding from the support at $1.20 as it started to push higher. On Wednesday, the coin managed to break the March resistance at $1.46 (1.618 Fib Extension) and set the new ATH at $1.55.

It has since dropped slightly from the ATH price to reach the current $1.38 level.

Looking ahead, if the sellers break beneath $1.35, the first support lies at $1.28 (.236 Fib). This is followed by$1.20, $1.15, and $1.12 (.382 Fib).

On the other side, the first resistance lies at $1.46. This is followed by $1.55, $1.62 (1.272 Fib Extension), $1.70, and $1.80.

adausd-apr16
ADA/USD Daily Chart. Source: TradingView

Against BTC, ADA managed to set a new high at 2400 SAT for April this week. The coin broke out from a symmetrical triangle pattern on Monday as it started to surge higher again. It went on to push above 2300 SAT to set the new April high at 2400 SAT. It has since dropped slightly as it trades at 2300 SAT.

Moving forward, the first support beneath 2300 SAT lies at 2200 SAT. This is followed by 2000 SAT, 1800 SAT (.618 Fib), 1600 SAT (July 2020 High), and 1450 SAT.

On the other side, the first resistance lies at 2400 SAT. This is followed by 2455 SAT (July 18 HDC), 2570 SAT, and 2645 SAT (bearish .618 Fib). Added resistance lies at 2800 SAT, 2888 SAT, and 3000 SAT.

adabtc-apr16
ADA/BTC Daily Chart. Source: TradingView

Leave a Reply

Your email address will not be published. Required fields are marked *