Bitcoin (BTC), Ripple (XRP) & Ether (ETH) Price Levels to Watch
Bitcoin, Ripple and Ether Price, Charts and Analysis:
- Bitcoin turnover slows down as traders look for next leg of the move higher.
- Ripple range trades, Ether’s uptrend remains in place.
IG Client Sentiment Datashows how retail are positioned in a variety of cryptocurrencies.
- Bitcoin (BTC) trade data shows 80.8% of traders are net-long.
- Ripple(XRP) trade data shows 97.8% of traders are net-long.
- Ether (ETH) trade data shows 91.6% of traders are net-long.
Top Five Cryptocurrencies by Market Capitalization – April 15, 2019
Bitcoin (BTC) Needs to Break Above $5,650 to Trigger Next Leg Higher
Turnover in the largest cryptocurrency has turned lower in the last few sessions, seemingly keeping prices in check for now. The recent five-month high around $5,460 needs to be re-tested before $5,650 comes into focus. A break and close above here should open the way to $6,110 ahead of a cluster of previous prints around the $6,500-$6,800 area. Support at $4,796 remains.
Bitcoin (BTC) Daily Price Chart (September 2018 – April 15, 2019)
Ripple (XRP) Stuck in a Range
The third-largest cryptocurrency has given back most of April’s gains and looks stuck in a range going abck to late-December 2018. The recent peak around $0.38 acts as first resistance followed by the December 24 high at $0.45 which will need a fundamental driver to be broken above. To the downside, support around $0.28 needs to be respected and should hold in the short-term before $0.25 level comes into play. Ripple should continue to range trade for now.
Ripple (XRP) Daily Price Chart (August 2018 – April 15, 2019)
Ether (ETH) Supportive Uptrend Needs to Hold
Ether continues to consolidate its recent trend higher, making a series of new higher lows from Mid-December. While this supportive trend continues to suggest higher prices in the short- to medium-term, ETH needs to stay above $160 other a fall back to the $142 area may be seen. To the upside, a break of the recent $187.8 high would open a potential move to $222 ahead of $252.
Ether (ETH) Daily Price Chart (September 2018 – April 15, 2019)
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.