Saturday , April 1 2023

ETH / USD Price Analysis: Ethereum's Third Approaches


  • Sterile rises yesterday, which failed to change the scenario in a short time.
  • The ETH / BTC retrieves the rapid scenario, but it lacks the power to develop it.
  • It is a bipolar market that can change the mood at any time and in any direction.

The Crypto market experienced a general increase led by Ethereum yesterday at the end of the European session. The ETH / BTC table followed the upcoming roadmap, and after a rapid upswing in the trend, it grew rapidly to return to the main trend line. It also reached a resistance level of 0.0350 BTC to ETH.

This upward movement is a positive message for the market because Ethereum management is needed to keep the market moving away from the low.

The market is still in a delicate situation, as the main actors of cryptography are not far enough away from the relative minimum prices, so the security that is based on optimism floods the minds of the traders.

BTC / USD 240 minute chart

BTC / USD is currently trading $ 3.645 price level. Yesterday it left high $ 3.708by stopping short-term moving averages and resilience to price congestion.

Today, BTC / USD is a bit smaller and it is likely that during the day the price will fall to $ 3,600 support (overload support). The second level of support is $ 3,470(overcharge support). If BTC / USD loses this level of support, it would re-enter the relative area with the third level of aid $ 3,300 (overcharge support).

If the bulls appear again, the first resistance level at $ 3700 (overload resilience, EMA50 and SMA200) are the most important in the short term and overshooting would greatly facilitate rapid continuity. The second resistance level of BTC / USD is $ 3,787 (SMA100), the average level on the way to the third resistance level $ 3,900(congestion resistance). If BTC / USD could overcome this third level of resistance, it would be free from moving averages, which would also become an increase in support and support prices.

After 240 minutes, the MACD shows a sharp profile after yesterday's growth, but continues the negative side of the index. It is necessary for the lines to reach the positive zone to see continuous growth.

The 240-minute DMI shows how after yesterday's growth bears and bulls were in a similar activity, which now seems to be choosing bears, but without any advantage over bulls developing.

ETH / USD 240 minute chart

The ETH / USD pair is currently being marketed $ 128.90 price level. After yesterday's rally it failed to overcome $ 130 price overload resistance, but it exceeded SMA100. Much better than Bitcoin.

This time, too, tomorrow's vision in Europe seems to support the day when crises are taking place, although in this case they could be minimal thanks to the support that can be found at a simple medium level (SMA100). $ 126.79.

If the ETH / USD pair loses the first level of support, the second is $ 115 (overcharge support) is the next price target. Such a fall would be technically destructive and complicate any bullish development in the medium term, as it would reduce exponential and simple averages and reduce the level of resistance. Third Aid $ 110 (overcharging support), seeing a new bearish start, and this could be seen in the new relative decline.

Above the current price, the first resistance level is $ 130 (congestion), then slightly above EMA50 $ 132.80. Third resistance level at $ 142 (congestion and SMA200) is the most important because Ethereum would be free from resistance by changing averages that would become support and facilitate growth.

The 240-minute MACD shows a sharp profile, but still moves in the indicator's tangled area. The slope and aperture between the lines support possible increases, while crossing the zero levels of the indicator will show sales.

The 240-minute DMI shows that bears start before the couple meets before a couple of meetings. Both sides of the market have a significant trend strength that can cause volatility.

XRP / USD 240 minute chart

The XRP / USD pair is currently being marketed US $ 0.33 price level after leaving yesterday $ 0.343 at an exponential moving period of 50 years. Then it fell and held over $ 0.335 aid level (aid for congestion).

XRP / USD is currently losing this level, which is now becoming a resistance and moving towards the second level of support US $ 0.32(overcharge support). XRP should not miss this second level of support as it would lose all its rapidly growing potential and come to a strong bearish environment that would target the third level US $ 0.308 (overcharge support).

Above the current price, the first resistance is $ 0.335 (congestion). The second resistance level is $ 0.345(EMA50 and resistance to price overload). The third resistance level is US $ 0.36 (congestion resistance), but target setting to achieve it, XRP / USD must first exceed SMA100 and SMA200. The maximum level of difficulty that would overcome would create a perfect scenario for consistent growth in the medium term.

The 240 minute MACD shows an upward cross profile, though with a lower upward slope than Bitcoin or Ethereum. It also moves toward the indicator's jump side, so the upside potential is limited.

The 240-minute DMI shows a tie between bears and bulls. Yesterday's growth drove the bulls forward, but the morning's fall has lost power, and now the bears are trying to control the situation.

A special image with Shutterstock.

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