. Daily Crypto Analysis - Bitcoin, XRP, Ethereum, Litecoin fluctuate.

Daily Crypto Analysis – Bitcoin, XRP, Ethereum, Litecoin fluctuate.

Daily Crypto Analysis – Bitcoin, XRP, Ethereum, Litecoin fluctuate.

15 Apr 2024

Introduction

Bitcoin stages a recovery, surpassing $65k after enduring a weekend slump triggered by Iran’s strike on Israel. The cryptocurrency rebounded 1.6% in the last 24 hours from its weekend low of $61,000, as risk aversion grew following geopolitical tensions. Meanwhile, XRP rebounds from a significant weekend decline, driven by developers’ proposal for a native lending protocol on the XRP Ledger. Ethereum initiates a recovery wave after a sharp decline, while Litecoin faces a 10% drop in bearish trading.

Markets In Focus Today – BITCOIN

Bitcoin recovers to $65k after Iran strike spurs weekend slump.

Bitcoin price rose on Monday, recovering a measure of steep losses over the weekend as risk appetite was battered by an Iranian strike against Israel, which also pushed the dollar up to five-month highs. The world’s largest cryptocurrency rose 1.6% in the past 24 hours to $65,439.5, after sliding as low as $61,000 over the weekend. Bitcoin price under pressure from Iran-Israel jitters Bitcoin was battered chiefly by worsening risk appetite, after Iran launched a drone and missile strike against Israel on Saturday. Strength in the dollar was a key point of pressure on Bitcoin, given that it usually benefits from increased risk appetite in markets. The token has largely performed in contrast to the idea that it is a digital safe haven.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 67685.3176 | Negative Crossover | Bearish
  • MA 20 : 67929.7150 | Negative Crossover | Bearish
  • MA 50 : 64977.0389 | Positive Crossover | Bullish

Simple :

  • MA 10 : 68434.0050 | Negative Crossover | Bearish
  • MA 20 : 68684.3960 | Negative Crossover | Bearish
  • MA 50 : 67123.7476 | Negative Crossover | Bullish

RSI (Relative Strength Index) : 47.9388 | Buy Zone | Bullish

Stochastic   Oscillator : 39.0790 | Sell Zone | Positive

Resistance   And Support Levels :

  • R1 : 73797.1717 R2 : 77652.5149
  • S1 : 61316.3149 S2 : 57460.9717

Overall Sentiment : Neutral Market Direction : Sell

Trade Suggestion : Limit Sell : 67358.57 | Take Profit : 62067.93 | Stop Loss : 71049.71

RIPPLE

XRP recovers from weekend massive decline after developers propose native lending on XRP Ledger.

XRP climbed back above $0.50 support after sweeping an eleven-month low of $0.41 over the weekend. Ripple developers propose the creation of an on-chain lending protocol to bolster the XRP Ledger’s DeFi capabilities. Developers introduced a native lending Protocol proposal to power borrowing and lending of digital assets.Ripple (XRP) surged past $0.50 on Monday, recovering from an eleven-month low of $0.4188 reached on Saturday after XRP Ledger developers proposed a native lending protocol to help Ripple establish a foothold in DeFi, lending and borrowing for users.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 0.5544 | Negative Crossover | Bearish
  • MA 20 : 0.5775 | Negative Crossover | Bearish
  • MA 50 : 0.5914 | Negative Crossover | Bearish

Simple :

  • MA 10 : 0.5694 | Negative Crossover | Bearish
  • MA 20 : 0.5883 | Negative Crossover | Bearish
  • MA 50 : 0.6102 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 37.4410 | Sell Zone | Bearish

Stochastic   Oscillator : 33.7541 | Neutral Zone | Positive

Resistance   And Support Levels :

  • R1 : 0.7187 R2 : 0.7666
  • S1 : 0.5637 S2 : 0.5158

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Sell : 0.54 | Take Profit : 0.47 | Stop Loss : 0.59

ETHEREUM

Ethereum Price Eyes Recovery Wave.

Ethereum price started a major decline from the $3,550 resistance. ETH declined over 10% and traded below the $3,000 support. It even spiked below $2,750 and tested $2,550. A low was formed near $2,537 and the price is now attempting a recovery wave, like Bitcoin. The price climbed above the $2,800 and $3,000 resistance levels. It even surpassed the 50% Fib retracement level of the downward move from the $3,615 swing high to the $2,537 low. The pair could gain bullish momentum if it stays above the $3,000 support zone.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 3316.4534 | Negative Crossover | Bearish
  • MA 20 : 3382.3912 | Negative Crossover | Bearish
  • MA 50 : 3344.1566 | Negative Crossover | Bearish

Simple :

  • MA 10 : 3373.9570 | Negative Crossover | Bearish
  • MA 20 : 3410.5740 | Negative Crossover | Bearish
  • MA 50 : 3521.8770 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 45.6844 | Neutral Zone | Neutral

Stochastic   Oscillator : 32.6500 | Sell Zone | Positive

Resistance   And Support Levels :

  • R1 : 3993.1797 R2 : 4236.4036
  • S1 : 3205.7936 S2 : 2962.5697

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Sell : 3260.39 | Take Profit : 2917.93 | Stop Loss : 3508.84

LITECOIN

Litecoin Falls 10% In Bearish Trade.

Litecoin was trading at $80.546 on Saturday, down 10.22% on the day. It was the largest one-day percentage loss since April 12. The move downwards pushed Litecoin’s market cap down to $6.085B, or 0.25% of the total cryptocurrency market cap. At its highest, Litecoin’s market cap was $25.609B. Litecoin had traded in a range of $80.523 to $86.522 in the previous twenty-four hours. Over the past seven days, Litecoin has seen a drop in value, as it lost 18.24%. The volume of Litecoin traded in the twenty-four hours to time of writing was $1.040B or 0.81% of the total volume of all cryptocurrencies. It has traded in a range of $80.4295 to $105.8900 in the past 7 days.

Technical   Overview With Chart :

Moving Averages :

Exponential :

  • MA 10 : 89.2671 | Negative Crossover | Bearish
  • MA 20 : 92.1330 | Negative Crossover | Bearish
  • MA 50 : 89.3978 | Negative Crossover | Bearish

Simple :

  • MA 10 : 92.4847 | Negative Crossover | Bearish
  • MA 20 : 96.5122 | Negative Crossover | Bearish
  • MA 50 : 90.9027 | Negative Crossover | Bearish

RSI (Relative Strength Index) : 40.9250 | Neutral Zone | Neutral

Stochastic   Oscillator : 22.5859 | Sell Zone | Positive

Resistance   And Support Levels :

  • R1 : 110.4129 R2 : 118.9395
  • S1 : 82.8099 S2 : 74.2833

Overall Sentiment : Bearish Market Direction : Sell

Trade Suggestion : Limit Sell : 87.07 | Take Profit : 76.17 | Stop Loss : 94.69

Elsewhere In The Crypto Market

Bitcoin up (0.97%) at 66342, Ethereum up (2.87%) at 3251.2, Litecoin up (2.19%) at 81.55, Solana down (0.53%) at 171.51, Dogecoin up (1.16%) at 0.164.

Key Economic Events & Data Release Today:

(EUR) Industrial Production (MoM) (Feb) Forecast –0.8%, Previous –3.2% at 14:30. (CHF) PPI (MoM) (Mar) Forecast 0.2%, Previous 0.1% at 12:00 (USD) Core Retail Sales (MoM) (Mar) Forecast 0.5%, Previous 0.3% at 18:00. (USD) Retail Sales (MoM) (Mar) Forecast 0.4%, Previous 0.6% at 18:00.