Table of Contents
Bitcoin (BTC/USD) Evaluation
Bitcoin trades greater, follows NASDAQ
Key Highlights
BTC traded above $41,000 following the footsteps of NASDAQ. Bitcoin and NASDAQ are extremely positively correlated in 2022. It’s struggling together with danger belongings resulting from hopes of an aggressive price hike by the Fed.
Technical Evaluation
Intraday Pattern – Bearish
On the each day chart, the pair is buying and selling beneath Tenken-Sen ($40,481), Kijun-sen ($43,390), and Ichimoku Kumo cloud ($40,087). Bitcoin hit an intraday excessive of $41,638 and is at present buying and selling round $41,454.
Main help is seen at $40,000, any violation beneath that psychological degree prone to drag the pair to $37,000 / $34,000 / $30,000.
The rapid resistance is round $41,700. Any surge previous targets $42,700 / $43,500 / $44,000 / $46,000 / $48,235.
RSI- Impartial
A potential technique may very well be purchase above $41,700 with SL round $40,000 for TP of $50,000.
ETH/USD Day by day Outlook
Key Highlights
Ethereum regained above $3,100 and holds above 55-day EMA. It hit an intraday excessive of $3,102 and is at present buying and selling round $3,100.
On the 4 hours chart, the pair is buying and selling above Tenken-Sen ($3,068), Kijun-sen ($3,006), and Ichimoku Kumo cloud ($3,032).
Main help is seen at $3,040, any breach beneath can drag the pair to $3,000 / $2,940 / $2,880. A decline beneath $2,880 confirms the beginning of a minor bearish pattern. A dip to $2,650 / $2,490 is feasible.
The rapid resistance is round $3,170. A break above can take the pair to $3,200 / $3,310.
RSI- Bullish
A potential choice may very well be lengthy on dips round $3,045-50 with SL round $2,940 for TP of $3,500.
XRP/USD Outlook
Intraday trend- Bearish
Key support- $0.70, $0.50
Key Resistance- $0.8000, $0.9150
XRP’s value upside is capped by 200-4H MA and struggling to shut above that degree. Any shut above $0.800 targets $0.8600/$0.9100, it’s at present buying and selling round $0.76409. Quick-term pattern reversal provided that it breaches $0.9200.
A potential technique may very well be promote on rallies round $0.7500 with SL round $0.800 for a TP of $0.6000.
BNB/USD Outlook
Intraday trend- Bullish
Key support-$390, $360
Key Resistance- $431
Binance is consolidating after hitting a excessive of $424. Any breach above $431 confirms a bullish continuation, a leap to $460/$500 is feasible, it’s at present buying and selling at round $422.60. Quick-term pattern reversal provided that it breaks $506.
A potential choice may very well be lengthy on dips round $415-417 with SL round $390 for a TP of $460/$500.
Bitcoin Assist / Resistance
Resistance
R1- $41,700, R2- $42,700, R3- $43,500
Assist
S1- $37,000, S2- $34,000, S3- $30,000
Ethereum Assist / Resistance
Resistance
R1- $3,170, R2- $3,275, R3- $3,350
Assist
S1- $3,040, S2- $2,940, S3- $2,880
See extra on the Newsweek Cryptocurrency Index:
The content material of this text is for informational functions solely and doesn’t represent monetary or funding recommendation. It is vital to carry out your individual analysis and contemplate searching for recommendation from an impartial monetary skilled earlier than making any funding choices.
