Bitcoin prices plummeted on Thursday as global geopolitical tensions escalated to unprecedented levels. On Thursday, there was no agreement reached to end the war during the second round of negotiations between Russian and Ukrainian officials. In response to the impasse, markets were jittery, which pushed prices of conventional safe-haven assets up such as gold and…
After starting the week with gains, the euro has been on a nasty slide, which has continued on Friday. EUR/USD has dropped below the symbolic 1.10 level in the European session and is at its lowest level since June 2020. Fire at Ukraine nuclear plant sends euro lower The intensified fighting which is raging in […]
Bitcoin cash price started a fresh decline from the $344 resistance against the US Dollar. The price is now trading below the $310 zone and the 55 simple moving average (4-hours). There was a break below a key contracting triangle with support near $315 on the 4-hours chart of the BCH/USD pair (data feed from...
Ethereum found a strong support near the $2,300 zone against the US Dollar. ETH price is rising and might rally if it clears the $2,750 resistance zone. Ethereum started a major increase above the $2,750 resistance zone. The price is now trading above $2,900 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $2,960 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rally further above $3,000 if there is no downside break below $2,850. Ethereum Price Remains Supported Ethereum started a major increase above the $2,750 and $2,850 resistance levels. ETH even cleared the $2,880 resistance level and the 100 hourly simple moving average to move into a positive zone. Finally, there was a move above the $3,000 level. A high was formed near $3,042 and the price is now consolidating gains. It is trading well above the 23.6% Fib retracement level of the recent wave from the $2,559 swing low to $3,042 high. There is also a major bullish trend line forming with support near $2,960 on the hourly chart of ETH/USD. On the upside, ether price is facing resistance near the $3,020 level. Source: ETHUSD on TradingView.com The first major resistance is seen near the $3,040 and $3,050 levels. A clear move above the $3,050 level might open the doors for more gains. In the stated case, the price may possibly rise towards the $3,120 level. The next major resistance is now near the $3,200 level. Any more gains might send the price towards the $3,320 level. Dips Limited in ETH? If ethereum fails to continue higher above the $3,050 resistance, it could start a downside correction. An initial support on the downside is near the $2,980 level. The next major support is near the $2,960 level and the trend line. A downside break below the $2,960 support could push the price towards the $2,850 support level. The next major support is near the $2,800 level and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent wave from the $2,559 swing low to $3,042 high. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is still above the 50 level. Major Support Level – $2,850 Major Resistance Level – $3,050
Bitcoin spiked to test the $45,000 resistance against the US Dollar. BTC is consolidating gains and might correct lower towards $43,000 in the near term. Bitcoin extended increase and traded close to the $45,000 resistance zone. The price is trading above $44,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with resistance near $44,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct lower if there is a move below the $43,000 support zone. Bitcoin Price Extends Rally Bitcoin price started a major increase above the $42,000 level. BTC was able to stay above the $43,000 level and consolidating near $44,000. Finally, there was another increase and the price climbed above $44,500. The price traded close the $45,000 resistance, where it faced sellers. It is now consolidating gains and there was a minor decline below the $44,500 level. The price is now trading above $44,000 and the 100 hourly simple moving average. It is also well above the 23.6% Fib retracement level of the upward move from the $37,030 swing low to $44,955 high. There is also a key contracting triangle forming with resistance near $44,450 on the hourly chart of the BTC/USD pair. Bitcoin is now facing resistance is near the $44,200 level. The first key resistance is near the $44,450 level and the triangle upper trend line. Source: BTCUSD on TradingView.com The main resistance is now near the $45,000 level. A clear move above the $45,000 resistance could send the price further higher. In the stated case, it could even attempt a clear move above $45,500. Dips Limited in BTC? If bitcoin fails to clear the $44,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $43,800 zone and the triangle lower trend line. The next major support is seen near the $43,000 level. If there is a downside break below the $43,000 support, the price might gain decline towards $41,000. It is near the 50% Fib retracement level of the upward move from the $37,030 swing low to $44,955 high. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is still correcting from the overbought zone. Major Support Levels – $43,800, followed by $43,000. Major Resistance Levels – $44,200, $44,450 and $45,000.