Weekly technical analysis of cryptocurrencies April 20

Weekly technical analysis ; Technical price analysis of Bitcoin, Ethereum, BinanceCoin, Cardano, Polkadot, Ripple, Uniswap, DogeCoin, LightCoin and Bitcoin Cash for today:

Weekly technical analysis of bitcoin price

The strong recovery trend of the Bitcoin price after its sharp fall to its daily low of $ 50,447.50 on April 18 indicates the entry of buyers in the fall. But the group’s failure to stabilize above the 50-day moving average (SMA 50 – red line in the picture) at $ 56,486 yesterday indicates hesitation to enter the market at higher levels.

The 20-day moving average (EMA 20 – blue line in the picture) is down and the Relative Strength Index (RSI) is in the negative area. These factors can be related to sellers’ efforts to return to the market. The longer the price trades below the moving averages, the more likely it is to try the $ 50,460 support again.

The bitcoin price jump from this support will be able to keep the fluctuations limited for a few days. On the other hand, falling below this level will increase the selling pressure, because buyers who have entered the market with the fall of the last two days, will think about covering their positions. Under such circumstances, there is a possibility of a drop to $ 43,006.77.

On the other hand, the first sign of strengthening the uptrend, breakout (valid break) will be the price above the 20-day moving average at $ 58,775. Such a move would raise the prospect of re-climbing to a historic high of $ 64,849.27.

• Resistances: 58,775 – 64,849.27
• Supports: 50,460 – 43,006.77

Weekly technical analysis of Ethereum price

Ethereum traded down $ 50,800 on April 18 to a simple 50-day moving average (SMA 50 – red line in the picture), but bulls entered the market with strength and once again moved above the moving average. The 20-day (EMA 20 – blue line in the picture) pushed at $ 2,154.

While buyers are trying to keep the price recovery wave, sellers are trying to drive it below the 20-day moving average. If the bear market succeeds in this resistance, it is likely to fall to the support of $ 2,040.77 and below it to the simple 50-day moving average (SMA 50 – red line in the picture). Breakout price below this dynamic support will increase the selling pressure and fall to $ 1,542.

On the other hand, if the price jumps from the current levels to the top, it can be said that the market entry flow is very strong in the falls. Buyers will then drive the price up to $ 2,545.84. A break above this resistance will be able to start the next wave of the uptrend.

• Resistance: 2,545.84
  Support: 2,154 – 2,040.77 – 1,899 – 1,542

Weekly Technical Analysis of BinanceCoin Price

In a strong uptrend, buyers enter the market with a drop in prices to the 20-day moving average (EMA 20 – blue line in the picture); This is exactly what happened at the Binance Quinn price on April 18 and buyers are trying to keep recovering it.

However, yesterday’s candle price indicates that sellers are strongly defending the $ 550 resistance. If the price turns lower and falls below $ 428 support, it is likely to fall further to $ 348.69.

On the other hand, if the price jumps above the 20-day moving average and buyers push it above $ 550, it is likely to rise to $ 600 and above it to $ 638.56. A breakout above this resistance could trigger the next bullish wave to the $ 832.75 target.

• Resistances: 550-600-638.56-832.75
• Supports: 428 – 348.69

Weekly Technical Analysis of Ripple Price

The Ripple price jumped slightly above $ 1.23 on April 18, slightly below the 20-day moving average (EMA 20 – blue line in the picture), indicating a good accumulation of buyers at lower levels. However, buyers have not yet been able to maintain the price recovery trend; This indicates sales pressure.

If traders push the price below the 20-day moving average, it is possible to continue the fall to the level of 61.8% Fibonacci at $ 1.10. Breakout price below this level will strengthen the selling pressure and deeper correction to the level of 78.6% Fibonacci at $ 0.86.

On the other hand, if the market pushes the price above the level of $ 1.56, it is likely to grow to $ 1.80 and above it to $ 1.96. Sellers are likely to defend this level, but if buyers break this resistance, there is a possibility that the next wave of price uptrend will begin.

• Resistances: 1.56 – 1.80 – 1.96
• Supports: 1.23 – 1.10 – 0.86

Weekly Technical Analysis of Dogecoin Price

Following the strong rise of the Dogecoin price on April 16, traders have saved their trading profit on the next trading day, which has pushed the price down to $ 0.23, slightly below the 50% Fibonacci retracement level. Sellers tried to deepen the fall on April 18, but buyers re-entered the market with a fall of $ 0.23.

The bulls of the market have continued the price recovery wave today and are trying to push the price to the top of the historical ceiling at $ 0.45. If successful, the next wave is likely to start the uptrend with a target of $ 0.63.

However, traders are likely to defend strongly from the $ 0.45 level, if the price moves below this level and falls below the $ 0.35 level, it can be said that traders will leave the market in the recovery waves. In this case, there is a possibility of limited price fluctuations for a few more days. With the fall and stabilization below the level of $ 0.23, the trend will be in favor of the sellers.

• Resistances: 0.45 – 0.63
• Supports: 0.35 – 0.23

Weekly Technical Analysis of Cardano Price

Cardano fell below moving averages on April 18 to a low of $ 1.08 a day. However, buyers entered the market aggressively as the price fell and moved above the simple 50-day moving average (SMA 50 – red line in the picture) at $ 1.20.

In order to continue the recovery, the bulls of the market raised the price above the 20-day moving average (EMA 20 – blue line in the picture) at $ 1.28 yesterday, but these levels attract sellers. If the price moves below the simple 50-day moving average (SMA 50 – red line in the picture) and stabilizes, it is likely to continue to fall to $ 1.03. Breakout price warns below this level of trend change.

On the other hand, if buyers enter the market with a drop in prices up to $ 1.03, it can be said that lower levels are still attractive to buyers. In this case, there is a possibility of limited price fluctuations for a few more days. Buyers will establish their dominance in the market with a breakout price above $ 1.55.

• Resistances: 1.28 – 1.55
• Supports: 1.20 – 1.08 – 1.03

Weekly technical analysis of Polkadot price

The Polkadot price hit a new all-time high of $ 48.36 on April 17, but failed to stabilize at higher levels. The long wick of the price candle indicates the flow of profit storage in this ceiling, which eventually pulled it below $ 42.28.

The selling pressure continued during the next trading day and the price moved below the moving averages and reached the daily level of $ 32. Although the price has recovered with the strength of the correction wave, buyers are still trying to stabilize it above the simple 50-day moving average (SMA 50 – red line in the picture) at 37.45.

This indicates that sellers are entering the market in price recovery waves. If the group manages to lower the price below $ 32, it is likely to continue to fall to $ 26.50. The 20-day moving average (EMA 20 – blue line in the picture) is moving down and the relative strength index (RSI) is below 40. These factors lead to the superiority of sellers.

This downtrend will be eliminated with the price moving above the resistance of $ 42.28 and breakout above this level can start the ascent to $ 48.36.

• Resistances: 37.45 – 42.28 – 48.36
• Supports: 32 – 26.50

Weekly technical analysis of LightCoin price

The Light Coin price on April 17 formed the Kendall shooting star pattern in its chart, which usually acts as a return pattern. The price also saw strong selling pressure on the next trading day, which pushed it to the bottom of $ 230.

Although buyers entered the market with a drop in price on this day, they were not able to stabilize the jump. This can be a sign of market bears trying to maintain market dominance. The price has dropped to $ 246.96 yesterday.

If the bear market manages to lower the price below $ 246.96, the correction is likely to deepen to the simple 50-day moving average (SMA 50 – red line in the picture) at $ 213. Such a move could delay the start of the next wave of uptrends.

Contrary to expectations, if the price jumps above the level of $ 246.96, buyers will try to start the recovery wave. Breakout price above the 61.8% Fibonacci retracement level at 294.91 will also indicate a return of buyers and an increase in the group’s dominance.

• Resistance: 294.91
• Supports: 246.96 – 230 – 213

Weekly technical analysis of bitcoin cache prices

The price of Bitcoin Cash has risen from $ 442.96 to $ 1,213.51 between March 24 and April 17. Prices in the current situation are correcting this rapid growth. On April 18, the price fell below the 50% Fibonacci retracement level to $ 828.24 and even saw $ 800 psychological support, but the candlesticks wicked indicates a strong buying current at lower levels.

Buyers are likely to call everyone who looks appropriate, if there are only a few. This struggle shows that the opposite group does not give up and enters the market in these waves. Market bears in the current situation will try to push the price below the 20-day moving average at $ 762 and gain market dominance.

Weekly technical analysis of cryptocurrencies April 20

On the other hand, if buyers enter the market in the fall and raise the price above $ 1,060, there is a possibility that the level of $ 1,213.51 will be seen again. Any breakout price above this resistance will be able to start the next bullish wave with a target of $ 1,570.55.

• Resistances: 1,060 – 1,213.51 – 1,570.55
• Supports: 762

Weekly technical analysis of Uniswap price

Buyers’ failure to stabilize Uniswap above the $ 35.20 level could cause the price to fall on April 18. The price has moved below both moving averages and has seen its $ 26.97 floor. However, buyers have entered the market with a strong downfall; This can be seen daily from the long wick of candle.

The bearish trend hit the dynamic resistance of the 20-day moving average (EMA 20 – blue line in the picture) at $ 32.24. This indicates that market cows are entering the market in price recovery waves up to this average. Given this, it can be said that there is a possibility of changing market sentiment. With the price stabilizing below the simple 50-day moving average (SMA 50 – red line in the picture) at $ 30.66, there is a possibility of increasing sales pressure and falling to the key support of $ 25.52.

A strong jump in prices from this level indicates the entry of buyers into the market in the fall. It will be able to enclose it for a few days between the two levels of $ 25.52 and $ 38. However, any breakout below $ 25.52 could lead to a further drop in prices to $ 20. This bearish view will be eliminated by moving and stabilizing the price above the 20-day moving average.

• Resistances: 32.24-38
• Supports: 30.66 – 25.52 – 20

Weekly technical analysis of cryptocurrencies April 20