Crypto Price Analysis & Overview March 5th: Bitcoin, Ethereum, Ripple, Polkadot, and Cardano

Bitcoin

Bitcoin is more or less trading at the same level it was last week around the same time. The cryptocurrency had dropped as low as $43,000 on Sunday, but it quickly bounded higher to close the daily candle above $44,750.

On Monday, Bitcoin started to show some promise as it surged higher from $44,750 to reach as high as $49,600. Over the following three days, the cryptocurrency managed to spike back above the $50,000 level. However, it met resistance at $52,480 (bearish .618 Fib) and ended up closing the daily candle beneath $50,655 (bearish .5 Fib).

It has since rolled over from this resistance, spiking as low as $46,294 today. It has recovered slightly as it trades at the $47,200 (.382 Fib) support.

Moving forward, the first level of support beneath $47,200 lies at $46,000. This is followed by $44,750, $43,745 (.5 Fib), $42,760 (downside 1.414 Fib Extension), and $42,000 (previous ATH).

On the other side, the first level of resistance lies at $50,000. This is closely followed by $50,655 (bearish .5 Fib), $52,480 (bearish .618 Fib), $54,000, and $455,080 (bearish .786 Fib).

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BTC/USD Daily Chart. Source: TradingView

Ethereum

Ethereum is also trading near the same price level it was at last week. The cryptocurrency had managed to find support at $1425 over the weekend, after spiking as low as $1300. It started to rebound from there on Monday but could not close a daily candle above resistance at $1580 (bearish .382 Fib) during the week.

It rolled over from this resistance yesterday and dropped by a total of 8.5% today to reach the current support at $1465 (.382 Fib).

Looking ahead, if the bears push beneath $1465, the first level of support lies at $1425 (previous ATH). This is followed by $1358, $1290 (.5 Fib), $1250 (downside 1.618 Fib Extension & 100-days EMA), and $1200.

On the other side, the first level of strong resistance lies at $1580 (bearish .382 Fib). This is followed by $1600, $1557 (bearish .5 Fib), $1700, and $1755 (bearish .618 Fib).

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ETH/USD Daily Chart. Source: TradingView

Etheruem is also struggling against Bitcoin. The cryptocurrency had moved sideways out of a descending price channel this week but struggled to break resistance at 0.0318 BTC (200-day EMA & December 2020 highs). It has since dropped lower as it battles to climb back above 0.031 BTC.

Looking ahead, the first level of resistance lies at 0.0318 BTC (200-day EMA). This is followed by 0.0337 BTC (November 2020 highs & 100-days EMA), 0.035 BTC, and 0.0361 BTC (March 2019 Highs).

On the other side, the first level of support lies at 0.0305 BTC. This is followed by 0.03 BTC, 0.0295 BTC (downside 1.272 Fib Extension), and 0.0284 BTC (Feb 2020 Highs).

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ETH/BTC Daily Chart. Source: TradingView

Ripple

XRP has seen positive growth over the past seven days after it increased by 5.8% over the period. The coin found support at $0.4 at the start of the week as it rebounded from the .618 Fib Retracement here.

From there, it started to climb higher over the past five days until reaching resistance at $0.482 yesterday. It did manage to spike above $0.5 but could not close a daily candle above $0.482. There was a descending trend line that provided resistance at this level. Today, XRP has dropped slightly as it trades at the $0.452 support provided by a .5 Fib.

Moving forward, the first level of resistance lies at the descending trend line. Above this, resistance lies at $0.5, $0.53, $0.556 (2019 Highs), and $0.6.

On the other side, the first support beneath $0.452 lies at $0.42. This is followed by $0.4 (.618 Fib & 100-days EMA), $0.38, and $0.36 (200-days EMA).

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XRP/USD Daily Chart. Source: TradingView

Against Bitcoin, XRP was trading lower throughout most of the week as it dropped from 980 SAT to reach as low as 867 SAT (upper January range). Yesterday, the bulls forced a rebound as XRP surged higher toward 1000 SAT.

It could not break the resistance here and has since dropped slightly to 958 SAT.

Looking ahead, the first level of support lies at 900 SAT. This is followed by 867 SAT, 800 SAT, 742 SAT, and 670 SAT (January lower range).

On the other side, the first level of strong resistance lies at 1000 SAT. This is followed by 1100 SAT, 1200 SAT (Decemmber 2017 lows), and 1300 SAT (100-days EMA).

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XRP/BTC Daily Chart. Source: TradingView

Cardano

Cardano is also up by a total of 6% this week as it currently trades at the $1.13 level. The cryptocurrency had pushed higher from $1.07 toward the end of last week to set a new ATH price at $1.48 over the weekend.

It started to head lower from there throughout the week as it broke beneath support at $1.22 (.236 Fib) to find lower support at $1.10 yesterday. Today, ADA briefly slipped beneath the $1.00 level, but the bulls quickly regrouped to bring the price back above $1.10. It is being supported by a short-term ascending trend line.

Moving forward, the first level of resistance lies at $1.20. This is followed by $1.32, $1.38 (1414 Fib Extension), $1.40, and $1.48 (ATH price). Above the ATH, added resistance lies at $1.52, $1.56, $1.62, and $1.69.

On the other side, the first level of strong support lies at $1.10. This is followed by $1.07 (.382 Fib & rising trend line), $1.00, and $0.95 (.5 Fib).

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ADA/USD Daily Chart. Source: TradingView

Against Bitcoin, ADA had pushed into fresh 2021 highs at 3194 SAT over the weekend. Over the course of this week, ADA has slowly been grinding lower until support was found at 2298 SAT (.5 Fib) yesterday.

The bulls rebounded from 2298 SAT today as they pushed higher into resistance at 2456 SAT (July 18’ High-Day Closing Price).

Looking ahead, if the buyers break 2456 SAT, the first level of resistance lies at 2590 SAT (bearish .382 Fib). This is followed by 2700 SAT (bearish .5 Fib), 2822 SAT (bearish .618 Fib), and 3000 SAT.

On the other side, the first level of support lies at 2298 SAT (.5 Fib). This is followed by 2200 sAT, 2086 SAT (.618 Fib), 2000 SAT, and 1800 SAT.

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ADA/BTC Daily Chart. Source: TradingView

Polkadot

Polkadot is up by a small 3.8% over the week as it currently sits at the $32.71 (.382 Fib) support. The cryptocurrency had bounced higher from $31 over the weekend as it started to grind upward. It managed to spike above $40 on Wednesday but could not close a daily candle above $37.50.

From there, DOT has dropped lower over the past two days as it falls into the support at $32.71 (.236 Fib Retracement).

Moving forward, if the bears push beneath $32.71, the first level of support lies at $31. This is followed by $30, $27.67 (.382 Fib), $25, and $23.60 (.5 Fib).

On the other side, the first resistance lies at $35.50 (1.272 Fib Extension). Above this, resistance lies at $38 (1.414 Fib Extension), $40, and $42.50 (ATH price).

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DOT/USD Daily Chart. Source: TradingView

DOT is also seeing a similar pattern against Bitcoin. The coin had rebounded from a rising trend line over the weekend and managed to push higher throughout the week to reach an ATH at 77,550 SAT on Wednesday.

Unfortunately, it could not close a daily candle above 75,000 SAT and ended up rolling over to drop into the current support at 68,900 SAT, provided by the ascending trend line.

Looking ahead, if the bears push beneath the trend line, the first level of strong support lies at 64,000 SAT (.236 Fib). This is followed by 59,670 SAT (previous ATH), 55,845 SAT (.382 Fib), and 49,230 SAT (.5 Fib & 100-days EMA).

On the other side, the first level of strong resistance lies at 75,000 SAT. This is followed by the ATH price at 77,550 SAT, 80,000 SAT, 81,555 SAT (1.618 Fib Extension), and 85,467 SAT (1.414 Fib Extension – orange).

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DOT/BTC Daily Chart. Source: TradingView

Bitcoin Price Analysis: BTC Dumps 6% As Wall Street Turns Red, Some Worrying Signs Pop

Bitcoin price dropped by over 6% today, losing over $5K from its value since the high reached just yesterday at $52,500.

Quick recap: BTC had found solid support at the $43K – $44K area during the start of the week following a sharp decline from the ATH level of $58,000 reached just the week before. Bitcoin had penetrated beneath the lower boundary of an ascending price channel during that drop, showing the first sign of weakness as the bullish month of February 2021 ended.

At the beginning of March, following a consolidation inside a falling wedge pattern, Bitcoin did manage to break to the upper side, and we saw a wild move until reaching $52.5K as of yesterday. From there Bitcoin retraced.

Worrying Signs For The Short-Term

The $52.5K is also the Golden Fibonacci retracement level (61.8%), of the bearish move measured from the ATH level down to last week’s low at $43K. This means that technically, for the short-term, Bitcoin is now bearish.

We had mentioned here today another concern for Bitcoin: the correlation to Wall Street reached a 5-month high. Today, following a disappointing speech by Powell, the S&P 500 and Nasdaq responded with heavy declines of 2-3%. Bitcoin, just like an educated soldier, followed the move and is declining sharply as of writing these lines.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $48,000, $47,200, $46,000, $44,750, $43,756.

Key Resistance Levels: $50,000, $50,655, $52,000, $52,500, $54,000.

Looking ahead, if the sellers break beneath the 20-days EMA and push below $48,000, the first level of support lies at $47,200 (.382 Fib). This is followed by $46,000, $44,750, $43,756 (.5 Fib, and last week’s low), and $42,760 (downside 1.414 Fib Extension).

On the other side, the first level of resistance lies at $50,000 once again. This is followed by $50,655 (bearish .5 Fib), $52,000, and $52,500 (bearish .618 Fib, and this week’s high). Additional resistance lies at $54,000 and $55,080 (bearish .786 Fib).

The daily RSI is now poking beneath the midline again, indicating the bears are attempting to take control of the market momentum. If it continues beneath 50, the bearish momentum will increase and drive the price of Bitcoin lower.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

Cardano Price Analysis: Cooldown? ADA Overtaken By BNB Following 9% Daily Plunge

ADA/USD – Bearish Divergence Sends Market Lower

Key Support Levels: $1.07, $1.00, $0.944.
Key Resistance Levels: $1.20, $1.32, $1.40.

ADA is down by 9% as it falls beneath the support at $1.22 (.236 Fib) to reach $1.14. The cryptocurrency is now down by a total of 23% since hitting the ATH price at $1.48 last week. Nevertheless, ADA is still up by a whopping 224% over the past month of trading, so the retracement could be somewhat expected.

There were hints of bearish divergence since mid-February as price action continued to make higher highs, while the RSI momentum indicator was making lower highs. This resulted in the cryptocurrency rolling over after hitting the ATH price last week.

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ADA/USD Daily Chart. Source: TradingView

ADA-USD Short Term Price Prediction

Looking ahead, the first level of support lies at $1.07 (.382 Fib & ascending trend line). This is followed by $1.00, $0.944 (.5 Fib), and $0.817 (.618 Fib).

On the other side, the first resistance lies at $1.20. This is followed by $1.32, $1.40, and $1.48 (ATH). Beyond the ATH, added resistance lies at $1.62 (1.272 Fib Extension – red) and $1.69 (1.414 Fib Extension – red).

As mentioned, the RSI was showing signs of bearish divergence. It has now dropped into the midline, indicating the bullish momentum seen throughout February has completely faded. If it continues beneath 50, the bearish momentum will gather steam and is likely to cause ADA to drop toward $1.00 again.

ADA/BTC – Bulls Attempt To Defend .5 Fib

Key Support Levels: 2200 SAT, 2146 SAT, 2000 SAT.
Key Resistance Levels: 2456 SAT, 2500 SAT, 2800 SAT.

Against Bitcoin, ADA is also heading lower from the 3194 SAT high printed last week. The coin is now down by a total of 27% from this high as it attempts to defend the support at 2350 SAT (.5 Fib Retracement).

A closing candle beneath this support is likely to send ADA lower into the ascending trend line that supported the market during February 2021.

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ADA/BTC Daily Chart. Source: TradingView

ADA-BTC Short Term Price Prediction

Looking ahead, the first support lies at 2200 SAT. This is followed by 2146 SAT (.618 Fib & Ascending trend line), 2000 SAT, and 1800 SAT.

On the other side, the first resistance lies at 2456 SAT (July 18 High-day Closing price). This is followed by 2600 SAT, 2800 SAT, 2900 SAT, and 3000 SAT.

Likewise, the RSI has returned to the midline here, indicating the previous bullish momentum has faded. If it continues beneath 50, the bearish momentum will take over and push ADA toward 2150 SAT.

Ethereum Price Analysis: ETH Bulls Reclaim $1.6K, What Are The Next Targets?

ETH/USD – Bulls Start Recovery Above 20-day EMA

Key Support Levels: $1600, $1500, $1465.
Key Resistance Levels: $1700, $1764, $1800.

Ethereum is starting to recover from last week’s downtrend in which it fell from above $1900 to reach as low as $1290 (.5 Fib Retracement). The coin found solid support at $1425 over the past few days and started to push higher from there.

Today, the 7% price surge allowed Ethereum to bounce from $1500 and break above $1600 to reach as high as $1658. It is now trading above the 20-day EMA, which is a good sign that the retracement has been completed.

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ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, the first level of resistance lies at $1700. This is followed by $1764, $1800, and $1975 (1.414 Fib Extension – yellow). Additional resistance lies at $1960 (1.272 Fib Extension), $2000, and $2036 (ATH Price).

On the other side, the first support lies at $1600. This is followed by $1500, $1465 (.382 Fib), and $1425.

The daily RSI has now started to poke above the midline as the buyers attempt to gain control of the market momentum. Additionally, the Stochastic RSI is in the middle of producing a bullish crossover signal that indicates the buying pressure is increasing.

ETH/BTC – Bulls Break Above Descending Price Channel

Key Support Levels: 0.0306 BTC, 0.03 BTC, 0.0295 BTC.
Key Resistance Levels: 0.0318 BTC, 0.0337 BTC, 0.035 BTC.

Against Bitcoin, Ethereum had been trading inside a descending price channel for the entire period of December. Yesterday, it dropped as low as 0.0306 BTC, but it quickly rebounded today to reach 0.0316 BTC.

The price hike today has also allowed ETH/BTC to break above the previous descending price channel, providing the first signal that the downtrend might be coming to an end. It now faces strong resistance at 0.0318 BTC (December 2020 Highs & 200-days EMA).

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ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, the first resistance lies at 0.0318 BTC. This is followed by 0.337 BTC (Nov 2020 Highs & 100-days EMA), 0.035 BTC, and 0.0361 BTC (March 2019 High).

On the other side, the first level of support lies at 0.0306 BTC (yesterday’s low). This is followed by 0.03 BTC, 0.0295 BTC (downside 1.272 Fib Extension), and 0.0285 BTC (Feb 2020 Highs).

The Daily RSI has started to show an uptick, indicating the previous bearish momentum might be starting to fade. It will still need to rise further and break above the midline to indicate the bulls are in charge again.

Bitcoin Price Analysis: Back Above $50K, But Facing Huge Resistance Now

Bitcoin is up by a solid 6% today as the primary cryptocurrency surged by over $3000 over the past 24 hours.

Quick recap: bitcoin is recovering after a heavy correction over the past week, in which the cryptocurrency dropped by around 25% as it broke beneath the February ascending price channel (as shown on the daily chart below) and tumbled into the support around $43K – $44K.

It managed to rebound nicely from there, breaking above a falling wedge, as we mentioned on Monday. After touching $50K, yesterday Bitcoin corrected to $47K but managed to quickly recover (candle wicks on the short-term timeframes in favor of the bulls), and today, following the breakout of the critical daily EMA-20 line at around $48,200, Bitcoin was able to spike back above $50K.

As of now, Bitcoin is facing a huge horizontal resistance area between $51,400 and $51,800.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $50,000, $48,000, $47,200, $46,000, $44,750.

Key Resistance Levels: $51,400, $51,800 – $52,000, $53,150, $54,000, $54,625, $56,000.

Moving forward, the first level of resistance lies at $51,800. This is closely followed by $52,000. Beyond this, additional resistance lies at $53,150 (short term 1.414 Fib Extension), $54,000, $54,625 (short term 1.618 Fib Extension), and $56,000.

On the other side, the first support lies at $50,000. This is followed by $48,000 (20-EMA line), $47,200 (.382 Fib and yesterday’s low), $46,000, and $44,750.

The daily RSI is now back above the midline as the buyers re-take control of the market momentum. If it continues to rise above 50, the bullish momentum will increase and push BTC back to the ATH levels again.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

Cardano Price Analysis: ADA Stalls Above $1.20 Following Mary Mainnet Update Launch

ADA/USD – Market Rolls Over After Upgrade Hits Mainnet

Key Support Levels: $1.22, $1.07, $1.00.
Key Resistance Levels: $1.32, $1.40, $1.49.

The Mary upgrade for Cardano hit the mainnet a few hours ago, and ADA seems to have dropped by a small 2.8% to reach the support at $1.22 (.236 Fib). The cryptocurrency had clocked in a new ATH price on Saturday as it reached as high as $1.49, but it could not close a daily candle above $1.32 over the weekend.

Today, the 3% price drop caused ADA to drop into the .236 Fib as the volume from the previous surge starts to fade slightly. Nevertheless, ADA still remains up by a total of 11.5% over the past week.

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ADA/USD Daily Chart. Source: TradingView

ADA-USD Short Term Price Prediction

Looking ahead, the first support lies at $1.22 (.236 Fib). This is followed by $1.07 (.382 Fib & ascending trend line), $1.00, and $0.944 (.5 Fib).

On the other side, the first resistance lies at $1.32. This is followed by $1.40, $1.49 (ATH price), $1.52, and $1.62 (1.272 Fib Extension – red).

The RSI is starting to trend lower, indicating fading bullish momentum. This might be the result of bearish divergence playing out that was apparent from February 20th to the weekend ATH.

ADA/BTC – ADA drops 14% Over Past Two Days.

Key Support Levels: 2456 SAT, 2400 SAT, 2350 SAT.
Key Resistance Levels: 2600 SAT, 2900 SAT, 3000 SAT.

Cardano also witnessed a steep 14% price drop against Bitcoin over the past two days. The cryptocurrency had clocked a new ATH price at 3195 SAT on Saturday but could not close a daily candle above 2900 SAT.

As a result, ADA rolled over yesterday to reach as low as 2550 SAT (.382 Fib). Today, the selling continued, pushing ADA as low as 2400 SAT. It has since bounced higher as it trades around 2520 SAT.

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ADA/BTC Daily Chart. Source: TradingView

ADA-BTC Short Term Price Prediction

Looking ahead, the first support lies at 2456 SAT. This is followed by 2400 SAT, 2350 SAT (.5 Fib), and 2146 SAT (.618 Fib).

On the other side, the first resistance lies at 2600 SAT. This is followed by 2900 SAT, 3000 SAT, and 3195 SAT (ATH price).

The RSI is also plummeting, indicating fading bullish momentum. It is still in the buyer’s favor, but if it penetrates beneath the midline, the bears will take over.

Bitcoin Price Analysis: BTC Skyrockets Over $5K Today – Temp Correction Or $50K Inbound?

Bitcoin saw a strong rebound today as it recovered from yesterday’s low at $43,000 to over $48K, where it is trading as of writing these lines.

The cryptocurrency had been in a downtrend for the previous week as it dropped by over 25% to reach its weekly low yesterday, at the mentioned-above level of $43K (according to Bitstamp).

During the correction, Bitcoin had broken beneath an ascending price channel that it was trading within throughout February. However, over the past days, BTC was forming a falling wedge which is a textbook bullish formation. The wedge can be seen on the following 4-hour chart.

Alongside the pennant, there were hints of bullish divergence on the short-term timeframes, including the 4-hour, that we highlighted yesterday. After closing the daily candles for the previous two days at $44,750, the bullish divergence played out nicely today – allowing Bitcoin to break the wedge’s upper boundary, penetrate beyond the 4-Hour 20-EMA, and sharply climb above the $48,000 mark.

Now, the question is, whether Bitcoin will have enough power to penetrate the $50K psychological resistance level, and maybe aim at the current all-time high level of $58K, set just days ago on February 21, 2021.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $47,200, $46,600, $44,750, $43,745, $42,760, $42,000.

Key Resistance Levels: $50,000, $52,500, $55,000, $56,112, $57,960.

Moving forward, the first level of resistance lies at the benchmark level of $50,000. This is followed by $52,500 – the target of the wedge’s breakout, $55,000, $56,112 (1.414 Fib Extension – purple), and $57,690 (1.272 Fib extension – blue).

On the other side, the first support is now found at $47,200 (.382 Fib). This is followed by $46,600 (4-hour’s EMA-20), $44,750, $43,745 (.5 Fib), $42,760 (downside 1.414 Fib Extension), and $42,000 (previous ATH).

The daily RSI has now returned to the midline, indicating the previous bearish momentum has dissipated. The RSI is now above the midline on the short-term charts, indicating short-term bullish momentum is now present.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

Ripple Price Analysis: After 22% Weekly Plunge, Did XRP Find Support at Critical Zone?

XRP/USD – Bulls Find Support At .618 Fib

Key Support Levels: $0.4, $0.35, $0.327.
Key Resistance Levels: $0.45, $0.5, $0.556.

At the start of last week, XRP was looking promising, reaching as high as $0.685 (1.272 Fib Extension). However, things changed quickly as soon enough the coin had dropped to around $0.56.

From there, XRP started to head lower throughout the week as the overall market saw a downturn. It quickly collapsed beneath $0.5 and continued until the market found support at $0.4, provided by the .618 Fib and the 100-days EMA.

Interestingly, XRP has been closing each daily candle above a falling trend line that dates back to the beginning of December 2020.

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XRP/USD Daily Chart. Source: TradingView

XRP-USD Short Term Price Prediction

Looking ahead, the first support lies at $0.4. This is followed by $0.35 (200-days EMA & Feb 2020 High), $0.327 (.786 Fib), and $0.3.

On the other side, the first resistance lies at $0.45. This is followed by $0.5, $0.556 (2019 highs), $0.6.

The RSI is in the bearish favor but has seen an uptick recently, which indicates the bearish momentum might be starting to fade. Additionally, the Stochastic RSI is extremely oversold, and a bullish crossover signal should send the market higher.

XRP/BTC – Market Sees Sideways Action

Key Support Levels: 900 SAT, 867 SAT, 800 SAT.
Key Resistance Levels: 980 SAT, 1000 SAT, 1200 SAT.

Against Bitcoin, XRP has been trading sideways between 980 SAT and 900 SAT for the past five days. The coin had penetrated beneath a symmetrical triangle toward the middle of February, signaling the start of a downtrend.

XRP had attempted to push higher at the start of last week, spiking as high as 1200 SAT, but quickly headed lower over the week to break beneath 1000 SAT.

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XRP/BTC Daily Chart. Source: TradingView

XRP-BTC Short Term Price Prediction

Moving forward, the first support lies at 900 SAT. This is followed by 867 SAT (January’s upper boundary range), 800 SAT, 700 SAT, and 670 SAT (January’s lower boundary range).

On the other side, the first resistance lies at 980 SAT. this is followed by 1000 SAT, 1200 SAT (December 2017 lows), and 1350 SAT (100-days EMA).

The RSI is in the bearish territory here and looks to be heading lower. If it continues to drop, XRP can be expected to head back into the trading range that was seen through January.

Bitcoin Price Analysis: Hope? Bullish Pennant Forming As BTC Plunges To $43K

Bitcoin seems to be going from bad to worse, with another 7% price drop today.

BTC decreased by a total of $3,300 today as it dropped below $47,750 and also beneath the important support at $44k.

The cryptocurrency continued to spike downward, reaching as low as $43,000 before a slight rebound, as of now.

Looking at the short-term 4-hour charts, Bitcoin dropped off the support at the 200 EMA today as it broke beneath $44,750.

However, there might be some hope for the bulls. BTC might be forming a bullish pennant pattern as the market trends toward the lower angle (near $42,760).

The market is very fragile right now, and the short-term trend is certainly bearish until a breakout of this bullish pennant. On the other side, a collapse beneath the former ATH of $42,000 might send Bitcoin below $40K.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $42,760, $42,000, $40,286-$40,000, $39,240, $38,000.
Key Resistance Levels: $44,000, $44,750, $46,000, $48,000, $50,000.

Moving forward, the first level of support lies at $42,760 (downside 1.414 Fib Extension & lower angle of pennant). This is followed by $42,000 (previous ATH price), $40,286 (.618 Fib), and $40,000. Additional support is found at $39,240 (downside 1.414 Fib Extension – red) and $38,000.

On the other side, the first resistance lies at $44,000. This is followed by $44,750 (4HR 200-EMA), $46,000 (4HR 20-EMA), and $48,000 (4HR 100-EMA). Additional resistance lies at $50,000, and $51,480.

The daily RSI is showing that the bears are in total control of the market momentum. However, it is reaching a similar level to that from January 2021, when the market rebounded again. Additionally, on the 4-hour charts, there are strong signs of a bullish divergence as the price marks lower lows when the RSI makes higher lows. This is a strong bullish indicator and could be suggesting that a rebound is imminent.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

ETH Price Analysis: After Losing 30% This Week, Ethereum Facing Crucial Support At Previous ATH

ETH/USD – Market Returns To January 2018 Previous ATH

Key Support Levels: $1400, $1291, $1250, $1200.

Key Resistance Levels: $1400, $1465, $1500, $1600.

Ethereum is now down by a total of 30% over the past seven days of trading. The cryptocurrency had spiked above $2000 only last week as it hit the upper boundary of the following marked ascending price channel. From there, the coin retraced, broke down the price channel and lost over $600 of its value.

It happened on Monday, that ETH price closed the daily candle beneath the ascending price channel, confirming the breakdown. It then continued to slide over the week until support was met at the previous ATH price, from January 2018, at around $1400 – $1440.

Today, with another 7% price drop,  Ethereum lost the previous ATH  price as it dropped to as low as $1315 on Bitstamp. Additionally, the price drop caused Ethereum to break beneath an ascending trend line that dates back to the start of the year. It has since bounced and is now testing the early February support at around $1358.

For ETH, it will be critical to maintaining the $1400 support on today’s candle close (at midnight UTC). The last time ETH’s daily closed below $1400 was on the first day of February.

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ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, if the bearish action continues and ETH can’t reclaim $1400, the first level of support lies at $1315 (today’s low), along with $1291 (.5 Fib level). This is followed by $1250 (downside 1.618 Fib Extension – purple), $1200 (100-days EMA), and $1173 (downside 1.272 Fib extension – orange).

On the other side, in the case of a bullish retracement beyond $1400, the first resistance now lies at $1465. This is followed by $1500, $1600, and $1681.

The RSI is now approaching extremely overbought conditions as it sits at 21, a level not seen since March 2020. This shows the bears are extremely overextended and the downtrend might reach exhaustion pretty soon.

ETH/BTC – Bears Push To 0.03 BTC lows

Key Support Levels: 0.03 BTC, 0.0295 BTC, 0.0284 BTC.

Key Resistance Levels: 0.0318 BTC, 0.0337 BTC, 0.034 BTC.

Ethereum has been struggling against Bitcoin throughout the entire month of February. It started the month by hitting a high of 0.046 BTC. From there, Etheruem has dropped by a total of 34% to reach the current 0.03 BTC level. Just like ETH/USD, ETH/BTC also facing a critical support level at 0.003 BTC.

The coin is trading inside a descending price channel and 0.03 BTC is the early January 2021 support. A break beneath here is likely to send Ethereum back to the 2021 lows of around 0.0237 BTC.

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ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, the first support lies at 0.03 BTC. This is followed by 0.0295 BTC (downside 1.272 Fib Extension), 0.0284 BTC (Feb 2020 high), and 0.028 BTC (.786 Fib).

On the other side, the first resistance now lies at 0.0318 BTC (Dec 2020 highs & 200-days EMA). Above this, resistance is found at 0.0337 BTC (Nov 2020 Highs), 0.034 BTC (100-days EMA), and 0.035 BTC.

Likewise, the RSI is reaching extremely oversold conditions here, indicating the sellers must be reaching exhaustion pretty soon.

Cardano Price Analysis: ADA Sets New ATH, What Are The Next Targets?

ADA/USD – Bulls Ignore Overall Bearish Market And Set Fresh ATH

Key Support Levels: $1.30, $1.22, $1.10.
Key Resistance Levels: $1.49, $1.56, $1.61.

While the overall market continues to struggle, Cardano bulls are forcing new ATHs today as the cryptocurrency surged past the previous ATH at $1.20 yesterday to set a new one today at $1.49.

Cardano did see some sideways price movement during the week with the weakness generated from Bitcoin. However, ADA managed to remain supported at $0.95, provided by a short-term ascending trend line.

On Wednesday, it rebounded from this trend line and continued its previous bullish momentum upward. ADA has since dropped slightly from the ATH as it now trades at $1.38.

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ADA/USD Daily Chart. Source: TradingView

ADA-USD Short Term Price Prediction

Looking ahead, the first resistance lies directly at the ATH price of $1.49. Beyond the ATH, resistance lies at $1.56 (1.414 Fib Extension – purple), $1.61 (1.272 Fib Extension – red), $1.70 (1.414 Fib Extension – red), $1.75, and $1.80 (1.618 Fib Extension – red).

On the other side, the first support lies at $1.30. This is followed by $1.22 (.236 Fib), $1.10, $1.07 (.382 Fib), and $1.00.

The RSI is now in overbought territory but still has room to push higher before becoming extremely overbought. This suggests there the current bull run can continue beyond $1.50.

ADA/BTC – Bulls Spike Above 3000 SAT

Key Support Levels: 2800 SAT, 2660 SAT, 2330 SAT.
Key Resistance Levels: 3000 SAT, 3194 SAT, 3450 SAT.

Cardano is also performing extremely well against Bitcoin. The cryptocurrency managed to surpass the previous February resistance at 2100 SAT on Wednesday as it continued to create fresh highs for 2021.

Today, ADA pushed higher from 2660 SAT to spike above 3000 SAT and set the 2021 high at 3194 SAT. It has since dropped lower from this high as it trades at 2950 SAT.

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ADA/BTC Daily Chart. Source: TradingView

ADA-BTC Short Term Price Prediction

Looking ahead, the first resistance lies at 3000 SAT. This is followed by 3194 SAT (today’s high), 3450 SAT (1.618 Fib Extension – green), 3660 SAT (1.272 Fib Extension – blue), 3800 SAT, and 3900 SAT (1.414 Fib Extension – blue). Added resistance lies at 4000 SAT and 4245 SAT.

On the other side, the first support lies at 2800 SAT. This is followed by 2660 SAT (.236 Fib), 2330 SAT (.382 Fib), and 2200 SAT.

Likewise, the RSI is overbought but still can push upward before becoming extremely overbought, indicating that there is room to push higher.

Crypto Price Analysis & Overview February 26th: Bitcoin, Ethereum, Ripple, Polkadot, and Chainlink

This week saw a serious correction throughout the entire cryptocurrency market. Bitcoin lost, at one point, about $13,000 of its value as it went through one of the most serious declines since the start of the current bull run. With this said, we take a look at the following cryptocurrencies.

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Bitcoin

Bitcoin has seen a turbulent week in which the price dropped to the current $48,000 level. The cryptocurrency was trending higher last week to set a new ATH price above $58,000.

However, on Sunday, the coin became stuck at the upper boundary of an ascending price channel. It rolled over from there on Monday as it started to plummet. Initially, it found support at the channel’s lower boundary as the bulls attempted to defend the level.

Unfortunately, the breakout beneath the price channel was confirmed yesterday when Bitcoin closed a daily candle at $47,200 (.382 FIb). Today, it dipped as low as $44,150 before it finally rebounded back above $47,200.

Looking ahead, the first level of resistance lies at $50,000. This is followed by $51,500, $52,500, and $55,000. Additional resistance lies at $56,112, $57,686 (1.272 Fib Extension), and $58,355 (ATH price).

On the other side, the first support lies at $47,200 (.382 FIb). This is followed by $44,750, $42,745 (.5 Fib), $42,760 (downside 1.414 Fib Extension), and $42,000 (previous ATH). Added support lies at $40,285 (.618 Fib) and $39,235.

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BTC/USD Daily Chart. Source: TradingView

Ethereum

Ethereum suffered a heavier 20% price decline this week as it currently sits at $1,540. The coin had reached the upper boundary of its own ascending price channel at the start of the week as it set a new ATH price above $2,000.

Unfortunately, it struggled to close a daily candle above $1,960 (1.272 Fib Extension) and started to head lower from there.

Over the week, Ethereum fell beneath the ascending price channel and continued until support was found at $1,465 (.382 Fib) yesterday. After dipping as low as $1,400 today, ETH has rebounded again and is back above $1,500.

Looking ahead, the first level of support lies at $1,465 (.382 Fib). This si followed by $1,400, $1,385, $1,291 (.5 Fib), and $1,250 (downside 1.618 Fib Extension). Added support is found at $1,200 (100-days EMA) and $1,116 (.618 Fib).

On the other side, resistance first lies at $1,600. This is followed by $1,680, $1,763, $1,800, and $1,875. Added resistance lies at $1,960, $2,000, and $2,060.

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ETH/USD Daily Chart. Source: TradingView

Ethereum continues to struggle heavily against Bitcoin and is now down by a total of 30% from the February highs as it sits at 0.0321 BTC (200-day EMA). The coin has been trading inside a descending price channel for the entire period of February as it takes a beating against Bitcoin.

This week, Ethereum fell beneath the November highs at 0.0337 BTC and reached as low as 0.03 BTC on Tuesday. It is attempting to defend the support at 0.031 BTC, but a closing candle beneath here might send ETH/BTC to the 2021 lows.

Looking ahead, the first level of support lies at 0.0318 BTC (.618 Fib). This is followed by 0.013 BTC, 0.030 BTC, and 0.0295 BTC (downside 1.272 Fib Extension). Added support lies at 0.0295 BTC (Feb 2020 highs0, 0.028 BTC (.786 Fib), and 0.0276 BTC.

On the other side, the first level of strong resistance lies at 0.0337 BTC (Nov 2020 Highs & upper boundary of the price channel). This is followed by 0.034 BTC (100-days EMA), 0.035 BTC, and 0.0361 BTC (March 2019 Highs).

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ETH/BTC Daily Chart. Source: TradingView

Ripple

XRP also took a beating this week as it dropped by a total of 16% to reach the current $0.447 level. The cryptocurrency had seen an interesting week of trading after spiking as high as $0.685 on Monday when the rest of the market was tanking.

The bullish pressure quickly subsided by Tuesday, which saw XRP collapsing beneath the $0.5 support. The selling continued over the week, causing XRP to spike beneath $0.4 today briefly. It has since rebounded from there and is now attempting to reclaim $0.45.

Looking ahead, the first level of strong resistance lies at $0.5. This is followed by $0.556 (2019 Highs), $0.6, and $0.61. Added resistance lies at $0.45 (bearish .786 Fib) and $0.685 (1.272 Fib Extension).

On the other side, the first support lies at $0.401 (.618 Fib & 100-days EMA). Beneath this, support lies at $0.35 (200-days EMA & Feb 2020 Highs), $0.327 (.786 Fib), and $0.3.

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XRP/USD Daily Chart. Source: TradingView

Against Bitcoin, XRP has been trading sideways this week. It did push higher from 900 SAT on Monday to spike as high as 1200 SAT (Dec 2017 lows). However, the bears quickly pushed XRP back beneath 1000 SAT over the course of the week to reach the current 935 SAT level.

Looking ahead, the first level of strong support lies at 867 SAT (January upper boundary range). This is followed by 800 SAT, 750 SAT, and 670 SAT (Jan lower boundary range).

On the other side, the first resistance lies at 1000 SAT. This is followed by 1200 SAT (Dec 2018 lows), 1300 SAT, and 1400 SAT (100-days EMA).

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XRP/BTC Daily Chart. Source: TradingView

Polkadot

DOT managed to buck the bearish trend this week as it saw a small 5.8% price hike from where it was seven days ago. The cryptocurrency had turned parabolic over the weekend as it broke above an ascending price channel to set a new ATH price at $42.50.

From there, it rolled over and started heading lower throughout the week. Today, DOT spiked as low as $27.67 (.382 Fib) but quickly rebounded from there is now trading back above $30 at $32.73.

Looking ahead, the first level of resistance lies at $33. This is followed by $35.50 (1.272 Fib Extension), $38 (1.414 Fib Extension), $40, and $41.63 (1.618 Fib Extension). Additional resistance is found at $42.50 (ATH) and $43.60.

On the other side, the first support lies at $30. This is followed by $27.67 (.382 Fib), $25, and $23.60 (.5 Fib). Added support lies at $22.50 and $19.53 (.618 Fib).

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DOT/USD Daily Chart. Source: TradingView

Against Bitcoin DOT is also performing well as it stayed at a similar level to where it was trading last week. It had surged as high as 0.00073 BTC (1.414 Fib Extension) on Sunday. From there, it started to move sideways as it found support at 0.000686 BTC over the week.

This support was eventually broken yesterday, which saw DOT falling as low as 00.00062 BTC today. It has since rebounded and is now trading at 0.000682 BTC.

Looking ahead, the first resistance lies at 0.0007 BTC (1.272 Fib Extension – red). This is followed by 0.000726 BTC (1.414 Fib Extension – red), 0.00074 BTC(ATH price), and 0.000762 BTC (1.618 Fib Extension – red). Added resistance is found at 0.0008 BTC and 0.00085 BTC.

On the other side, the first support lies at 0.00065 BTC. This is followed by 0.000616 BTC (.236 Fib), 0.000596 BTC, and 0.000539 BTC (.382 Fib). Additional support is found at 0.0005 BTC and 0.000475 BTC (.5 Fib).

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DOT/BTC Daily Chart. Source: TradingView

Chainlink

LINK saw a heavy 17.5% price drop this week as the coin slips into the $26.28 level. Over the weekend, LINK set a new ATH price at $37.45 but failed to close a daily candle above the resistance at $34.97 (1.414 Fib Extension).

From there, it started to head lower during the week until support was found at $24.25 (.5 Fib). This support was further bolstered by a rising trend line. LINK has rebounded from this support today to climb back above $26.

Looking ahead, the first resistance lies at $28. This is followed by $30, $32.35, and $34.96 (1.414 Fib Extension). Added resistance lies at $37.45 (ATH price), $38.50 (1.618 Fib Extension), and $40.

On the other side, the first strong support lies at $24.25 (.5 Fib). This is followed by $22, $21.15 (.618 Fib), and $20.

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LINK/USD Daily Chart. Source: TradingView

Against Bitcoin, LINK has been struggling over the past fortnight. It dropped from 0.00075 BTC and continued to slide over the past two weeks until support was found this week at 0.000526 BTC (April 2020 Highs).

Looking ahead, the first support lies at 0.000526 BTC. This is followed by 0.0005 BTC, 0.000474 BTC (downside 1.272 Fib Extension), 0.000461 BTC (.786 Fib), and 0.00045 BTC.

On the other side, resistance is first expected at 0.00058 BTC. This is followed by 0.0006 BTC, 0.00065 BTC, and 0.0007 BTC.

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LINK/BTC Daily Chart. Source: TradingView

Bitcoin Price Analysis: BTC Gets Away From $50K, Downtrend Confirmed?

Bitcoin’s rollercoaster continues today after the primary cryptocurrency fell by $6,240, around 12%, from yesterday’s highs of $52,080. BTC had dipped further this morning but managed to rebound from the support at $44,750 (4-hr 50 MA) and is now trading around $47,000.

Yesterday, the coin was looking promising as it attempted to break above a short-term symmetrical triangle pattern. Unfortunately, this proved to be a false breakout, and Bitcoin stalled and reversed at $52,000.

Looking at the larger picture, yesterday’s closing candle at $47,200 (.382 Fib) confirmed that Bitcoin had penetrated beneath the previous ascending price channel. It was toying with the lower boundary over the previous three days as the bulls attempted to defend the level.

Nevertheless, Bitcoin is now trading beneath the price channel as a much-needed retracement is underway. Interestingly, the price drops this week also coincided with a rough week in the legacy markets, with NASDAQ seeing its biggest slump since October last year.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $44,750, $43,745, $42,760, $42,000, $40,300.
Key Resistance Levels: $47,200, $48,000, $50,000, $51,500, $52,000.

Moving forward, the first level of strong support lies at $44,750 (4-Hour 50MA). This is followed by $43,745 (.5 Fib), $42,760 (downside 1.414 Fib Extension), and $42,000 (January ATH). Beneath this, additional support lies at $40,300 (50-MA & .618 Fib) and $39,235 (downside 1.414 Fib Extension).

On the other side, the first resistance lies at $47,200. This is followed by $48,000, $50,000, $51,500, and $52,000.

The RSI is now comfortably beneath the midline and is heading lower. This suggests that the bears are in charge of the market momentum, and their control is increasing. The Stochastic RSI is extremely oversold, and a bullish crossover signal here will be the first signal for the end of this retracement.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

Cardano Price Analysis: Despite the Correction, ADA Eyes ATH Following 30% Weekly Surge

ADA/USD – Cardano Bulls Pushing For New ATHS

Key Support Levels: $1.10, $1.00, $0.95..
Key Resistance Levels: $1.20, $1.28, $1.34.

Cardano has seen a marvelous bull run during the entire period of February, in which it managed to climb by a total of around 230%. Initially, in the first half of the month, the coin had seen resistance around $0.84 (1.618 Fib Extension). This resistance was finally broken last week as ADA set a new ATH price at $1.20.

From there, the cryptocurrency started to trend lower over the past few days as it dropped as low as $0.89 (.382 Fib) yesterday. It has managed to close each daily candle above a rising trend line which allowed it to rebound.

Today, ADA has now pushed above the resistance at $1.10 and is making an attempt at the ATH price around $1.20 again.

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ADA/USD Daily Chart. Source: TradingView

ADA-USD Short Term Price Prediction

Looking ahead, the first resistance lies at $1.20 (ATH). This is followed by $1.28 (1.618 Fib Extension – orange), $1.34 (1.272 Fib Extension – blue), and $1.41 (1.414 Fib extension 0 blue). Additional resistance is found at $1.52 and $1.60.

On the other side, the first support lies at $1.10. This is followed by $1.00 (.236 Fib), $0.95, $0.89 (.382 Fib), and $0.8 (.5 Fib).

The RSI is back on the rise after dipping into the midline this week. This indicates the bullish momentum is increasing within the market.

ADA/BTC – Bulls Set Fresh 2020 Highs

Key Support Levels: 2200 SAT, 2000 SAT, 1775 SAT.
Key Resistance Levels: 2300 SAT, 2333 SAT, 2455 SAT.

Against Bitcoin, ADA has set a new high for the year around 2300 SAT. The cryptocurrency had dropped into the support at 1700 SAT last week and rebounded from there.

It found resistance at 2100 SAT over the past few days but managed to break past here with the 7.5% price hike today.

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ADA/BTC Daily Chart. Source: TradingView

ADA-BTC Short Term Price Prediction

Looking ahead, the first resistance lies 2300 SAT. This is followed by 2333 SAT (1.618 Fib Extension – orange), 2390 SAT, and 2455 SAT (July 2018 High-day Closing price). Added resistance lies at 2585 (1.414 Fib Extension – blue) and 2820 SAT (1.618 Fib Extension – blue).

On the other side, the first support lies at 2200 SAT. This is followed by 2000 SAT (.236 Fib), 1775 SAT (.382 Fib), and 1700 SAT.

The RSI is also rising here but still has room before becoming overbought. This indicates there is still room for this bull run to continue higher before a retracement is required.

Bitcoin Price Analysis: Expecting Huge Move Upon Triangle’s Breakout

The recent days were rough for Bitcoin after it dropped from the record high at $58,000 on Sunday by almost 25% just two days later. As of now, BTC bottomed at $44,750 on Tuesday and bounced back steadily to the $50K region. But, was that the ultimate short-term bottom after the 2-day bloodbath earlier this week?

Looking from a longer-term perspective, BTC managed to close the daily candles inside the ascending price channel that it has been following for the entire period of February. The upper boundary of this channel had provided strong resistance for the cryptocurrency on Sunday, just as BTC turned bearish and plunged towards $45K.

Following a decent recovery, yesterday Bitcoin dipped once again, reaching as low as $47,200 (.382 Fib) but it recovered to close the day inside the aforementioned price channel.

Looking at the short-term perspective, as can be seen on the following hourly chart, Bitcoin is now trading inside a symmetrical triangle pattern as it battles with the upper boundary, as of writing these lines. A breakout toward the upside could speed up the recovery, creating the necessary support around the $50K line. On the other side, a breakdown from the triangle’s lower boundary and Tuesday’s low might not be the weekly lowest.

UPDATE: As of Feb-25, 13:20 UTC, the anticipated breakout took place shortly after we posted this analysis. Bitcoin broke above the triangle around the $50.6K mark, spiking above $52,000 immediately.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $50,000, $48,000, $47,200, $44,750, $43,745.

Key Resistance Levels: $51,000, $52,500, $55,000, $56,112, $57,686.

Moving forward, in case BTC breaks above the triangle, the first level of resistance lies at $51,000. This is followed by $52,500, $55,000, and $56,112 (1.414 Fib Extension – purple). Additional resistance lies at $57,686 (1.272 Fib Extension – blue & ATH-day closing price), $59,000, and $60,000.

On the other side, the first support lies at $50,000. This is followed by the lower angle of the triangle, $48,000, and $47,200 (.382 Fib Retracement). Additional support is found at $44,750 (Tuesday’s low), $43,745 (.5 Fib), and $42,050.

The daily RSI has bounced higher over the past three days and is now at the midline, indicating indecision within the market. If it can rise higher from 50, the bullish momentum will increase and should help BTC trade higher within the price channel.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 1-Hour Chart (Updated)

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BTC/USD 1-Hour Chart. Source: TradingView

Ripple Price Analysis: Bears Show Their Face as XRP Loses $0.5 Support

XRP/USD – Bears Starting To Retake Control

Key Support Levels: $0.45, $0.4, $0.36.
Key Resistance Levels: $0.5, $0.556, $0.6.

XRP had seen an interesting few days this week as it surged as high as $0.685 (1.272 Fib Extension) on Monday when the rest of the market was tumbling. By the end of the day, XRP had dropped back into the $0.56 level to close the daily candle.

Yesterday, XRP saw a steep downturn as it dropped beneath $0.5 to reach as low as $0.36. The bulls quickly regrouped and allowed the daily candle to close sound $0.47. Today, it seems that XRP is trending lower as it battles to remain above support around $0.45 (.5 Fib).

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XRP/USD Daily Chart. Source: TradingView

XRP-USD Short Term Price Prediction

Looking ahead, the first support lies at $0.45. This is followed by $0.4 (.618 Fib & 100-days EMA), $0.36, $0.35 (200-days EMA & Feb 2020 Highs), and $0.372 (.786 Fib).

On the other side, the first resistance lies at $0.5. This is followed by $0.556, $0.6, and $0.65 (bearish .786 Fib). Added resistance lies at $0.685 and $0.718.

The RSI has recently stumbled beneath the midline, indicating the bears have regained control of the market momentum. If it continues to head lower, XRP can be expected to head back toward $0.4 (100-days EMA).

XRP/BTC – Bears Push XRP Beneath 1000 SAT

Key Support Levels: 867 SAT, 800 SAT, 700 SAT.
Key Resistance Levels: 1000 SAT, 1200 SAT, 1300 SAT.

Against Bitcoin, XRP has dropped back beneath 1000 SAT today as it trades around 950 SAT. The coin had been holding above 1000 SAT for most of February but slipped below the support over the weekend as it toward 867 SAT.

It rebounded from there on Monday to reach as high as 1200 SAT (Dec 2017 lows) but was unable to maintain these highs. As a result, XRP fell beneath the support at 1000 SAT yesterday and continued beneath 980 SAT (.786 Fib) today.

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XRP/BTC Daily Chart. Source: TradingView

XRP-BTC Short Term Price Prediction

Moving forward, the first support lies at 867 SAT (upper boundary of January price range). This is followed by 800 SAT, 700 SAT, and 670 SAT (lower boundary of January price range).

On the other side, the first resistance lies at 1000 SAT. This is followed by 1200 SAT (Dec 2018 lows), 1300 SAT, and 1400 SAT (100-days EMA).

The RSI attempting to break the midline on Monday but failed to overcome it. It has turned lower again today as the bearish momentum starts to gather steam.

Ethereum Price Analysis: 30% Correction in Two Days But is the Worst Over for ETH?

ETH/USD – Market Falls Of Out Rising Pirce Channel

Key Support Levels: $1465, $1425, $1358.
Key Resistance Levels: $1600, $1681, $1700.

Yesterday, Ethereum dropped to $1550 but quickly recovered by the end of the day to close the daily candle just beneath $1800. Today, the market tumbled again and declined by another 10% to reach the current $1550 level.

Ethereum had slipped further earlier in the day, reaching a low of $1358 before recovering to its current rate. The support here was provided by the low seen on February 2nd, 2021, and was further bolstered by a rising trend line.

If ETH closes near these levels today, it would have fallen out of the ascending price channel that it has been trading within throughout the entire period of 2021.

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ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, if the bearish action continues, the first support lies at $1465 (.382 Fib & 50-day MA). This is followed by $1425, $1358 (today’s low), and $1291 (.5 Fib). Additional support lies at $1250 (downside 1.618 Fib) and $1173 (100-days EMA).

On the other side, the first resistance lies at $1600. This is followed by $1681 (previous channel support – now resistance), $1700, $1765, and $1800.

The daily RSI took a precipitous drop over the past few days as it fell from the bullish favor into extreme bearish territory. It has not been this bearish for quite some time, and we have to go all the way back to September to see a similar level. This is quite a promising situation as it gave the momentum an opportunity to reset after being parabolic for an extended period.

ETH/BTC – Bulls Attempting To Defend 200-days EMA

Key Support Levels: 0.0318 BTC, 0.03 BTC, 0.0295 BTC.
Key Resistance Levels: 0.0337 BTC, 0.035 BTC, 0.0361 BTC.

Against Bitcoin, Ethereum is also struggling quite significantly as it spikes as low as 0.03 BTC today. The cryptocurrency has now established a descending price channel and is trading above the midline of the channel.

It started the month by hitting a fresh 2021 high at 0.046 BTC but quickly rolled over from here to begin the downtrend. After hitting 0.03 BTC today, the bulls quickly regrouped to bring the price back above 0.032 BTC (200-day EMA).

A break beneath this 200-days EMA might send Ethereum into an extended bearish spiral over the next few weeks.

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ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, the first support lies at 0.0318 BTC, which is combined support provided by the 200-days EMA, the December 2020 highs, the .618 Fib, and a downside 1.618 Fib Extension. Beneath this, support lies at 0.03 BTC, 0.0295 BTC (downside 1.272 Fib Extension), and 0.0284 BTC (Feb 2020 Highs).

On the other side, the first level of resistance now lies at 0.0337 BTC (Nov 2020 Highs). This is followed by 0.035 BTC, 0.0361 BTC, and 0.038 BTC.

The RSI has been in bearish territory for most of February for ETH/BTC. It is starting to level out today, which could suggest the bearish momentum is ready to start fading.

Bitcoin Price Analysis: Those Are The Next Possible Targets If The Bloodbath Continues

Bitcoin price’s heavy correction continues on its second day with another sharp 17% price plummet only today, and a total of 25% since hitting the current all-time high of $58K just two days ago.

The recent price drop is largely attributed to the fact that there was a cascade of long liquidations, causing a snowball effect within the market and driving it even lower. As of now, today’s low lies at $44,845, according to Bitstamp.

Looking at the bigger picture, Bitcoin has now dropped beneath the ascending price channel that we have been tracking for the entire month of February so far. If BTC closes the daily candle beneath the channel today, there is a high chance that the mentioned above the level of $44K is not yet the bottom for this correction.

The $44,750 support is provided by the closing/opening prices from February 10th-11th. It is important to point out that, during the January price drops, Bitcoin fell by a sharp 28% to reach the $30,000 level. If the current price drop falls by a similar vector, it will lead Bitcoin back into the January high support, at around $42,000.

As a reminder, the Bitcoin bull-run of 2017 saw at least six corrections of around 30%. This is part of the game. Yesterday, we mentioned here 4 must-read takeaways following the current correction, which came as a surprise to many traders.

Keep in mind that the market is extremely volatile; use caution when entering positions and wide range stop losses.

What’s Next? How Low Can BTC Correction Go From Here?

Key Support Levels: $44,750, $43,745, $42,760, $42,050, $40,285 – $40K.

Key Resistance Levels: $47,200, $48,000, $50,000, $51,500, $52,000.

Moving forward, the first level of support lies at today’s low of $44,850. This is followed by $43,745 (.5 Fib), $42,760 (downside 1.414 Fib Extension), $42,050, and $40,285 – $40K (.618 Fib & 50-day moving average line).

Below $40,000, the next siginfaicnt support lies at $38,000, followed by $35,360 (.786 Fib, and January 3rd high).

On the other side, the first resistance lies at $47,200. This is followed by $48,000, $50,000, $51,500, and $52,000.

The daily RSI has now plummeted beneath the midline for the first time in February 2021. This indicates that the bears are now in control of the market momentum in the short-term. If the RSI continues to drop, the bearish momentum will increase and will likely push BTC further down.

On the 4-hour chart, there are signs of oversold conditions which might trigger a correction over the next hours.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

Bitcoin Price Analysis: 4 Takeaways Following the Dump to $47K and Back Above $53K

Bitcoin saw some serious whipsaw-like action today, with the market witnessing its most serious correction in February. At the height of the crash, Bitcoin price plunged by 18%, to as low as $47,400 (Bitstamp) before sharply recovering.

The cryptocurrency had spiked lower in a wild hourly candle, pushing the market briefly beneath the ascending price channel that it has been trading within throughout February.

This comes just a day after it had reached the upper boundary of this price channel yesterday, as BTC managed to poke above the $58,000 level and set the current ATH price at $58,355.

It could not break the channel’s upper boundary, and today’s wild correction saw it heading lower from there: Bitcoin lost a total of $11K.

After reaching an intraday low at $47,400, the buyers quickly pushed the market higher. They managed to reclaim the $50K mark and even continued above to reach over $53K. It is now trading above the 4-hour 50MA level and above the midline of the ascending price channel.

The Main Takeaways from Today’s Price Action

  1. The market needed a serious correction. The last major decline took place on January 29th. After January 31st, when Bitcoin was trading at $32K, the direction was only up until reaching $58K.
  2. The bulls take the stairs, the bears ride the elevator: the negative corrections are usually unexpected and violent. However, in a bull market, like the one we are having, those drops provide great opportunities to join in.
  3. When violent moves occur to one side, we can expect violence to the other side as well. This can explain the massive bullish reaction after touching $47K.
  4. As of now, Bitcoin is trading around $53K, the spot where it traded just 3 days ago. So we can actually say that Bitcoin “crashed” to where it was trading just three days ago.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $52,365, $51,490, $50,000, $48,000, $47,200.

Key Resistance Levels: $55K, $56,112, $57,686, $60,000, $62,170, $64,000.

Moving forward, keep in mind that we can expect huge volatility in the coming hours.

From below, the first level of support now lies at the midline of the marked ascending price channel and the 4-hour 50-MA level (around $52,365). This is closely followed by support at $51,490 (.236 Fib), $50,000, and $48,000 (lower boundary of the price channel).

Additional support is found at $47,200 (.382 Fib, and today’s low) and $45,000.

From the bullish side, the first levels of resistance lie at $55K (4-hour’s 20-EMA), and $56,112 (1.414 Fib Extension – purple). This is followed by $57,686 (1.272 Fib Extension – blue), $60,000, and $62,170 (1.414 Fib Extension – blue). Added resistance lies at $64,000 and $66,000 (1.414 Fib Extension – orange).

The daily RSI has tumbled from extremely overbought conditions to head toward the midline. It still sits above the midline, indicating that the buyers still control the market momentum. Today’s price fall seems to be pretty healthy for the market as it has provided room for the momentum to cool down before it builds up again.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

Ethereum Price Analysis: ETH Slides Below $1.8K and Reaches Monthly Low Against BTC

ETH/USD – Market Rolls Over

Key Support Levels: $1760, $1681, $1600.
Key Resistance Levels: $1875, $1960, $2000.

Ethereum suffered a steep 10% price drop today as it plummets into the $1760 level. The cryptocurrency has been trading within an ascending price channel for the entire period of 2021.

ETH had pushed higher over the weekend as it managed to break resistance at $2000 and reach the upper boundary of the price channel. Unfrotenutaly, the bulls could not close a daily candle above resistance at $1960 (1.272 Fib Extension), which caused the market to roll over and head lower.

It is now trading around the $1760 support, which provided resistance earlier in the month. It is also supported by a rising trend line.

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ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, if the sellers push beneath $1760, the first support lies at $1681 (.236 Fib). This is followed by $1600 (lower boundary of the price channel), $1500, and $1465 (.382 Fib).

On the other side, the first resistance now lies at $1875 (1.414 Fib Extension – orange), $1960 (1.272 Fib Extension – blue), $2000, and $2061 (1.414 Fib Extension – bue).

The daily RSI recently dipped beneath the midline for the first time since January 20th. This indicates the bears are attempting to gain control of the market momentum. If it continues to fall, the bearish momentum will increase and is likely to drive ETH to the lower boundary of the price channel.

ETH/BTC – Ethereum At New 1-Month Lows

Key Support Levels: 0.0392 BTC, 0.023 BTC, 0.0318 BTC.
Key Resistance Levels: 0.0337 BTC, 0.036 BTC, 0.038 BTC.

Against Bitcoin, Ethereum continues to struggle as it is now down by a steep 28% from the monthly high of 0.046 BTC. The cryptocurrency had dropped into support at 0.0349 BTC (downside 1.272 Fib Extension) at the end of last week, and it continued to dip lower over the weekend.

It is now trading at a new monthly low, at a level not seen since January 16th – the 0.0329 BTC support – provided by a .786 Fib Retracement level.

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ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, the first support beneath 0.0392 BTC lies at 0.032 BTC (200-days EMA). This is followed closely by 0.0318 BTC (December 2020 Highs), 0.03 BTC, and 0.0284 BTC (Feb 2020 Highs).

On the other side, the first resistance lies at 0.0337 BTC (November 2020 highs). This is followed by 0.036 BTC, 0.0361 BTC, ad 0.038 BTC.

The RSI is well within the bearish favor and has been since early February when it dropped beneath the midline. It is still yet to become extremely oversold, indicating there is still room for the bears to drive ETH/BTC lower.

Bitcoin Broke $58K To New All-Time High: Updated Price Analysis & Next Targets

Bitcoin surged by a solid $2,500 so far today, gaining almost 5% in value. This allowed the cryptocurrency to break resistance at $56K, surpassing $58K to set a new all-time high.

The primary cryptocurrency had been trading within an ascending price channel for the entire month of February. On Friday, Bitcoin had surged by 8.5% as it broke past the previous resistance at $52,365 to smash the upper boundary of the marked price channel, reaching the resistance level at $56,112 (1.414 Fib Extension).

From there, Bitcoin had failed to close a daily candle above that level. Yesterday, after setting a new ATH at $57.5K, Bitcoin had seen an enormous price correction of $3500 to $54,000. However, the bulls quickly jumped on the cheap BTC showing how strong the market is. Just hours later, and Bitcoin broke Saturday’s ATH to a new one set above $58K.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $57.5K – $57,686, $56,112, $55,000, $52,365, $50,800.

Key Resistance Levels: $58,350, $59,720 – $60,000, $60,735, $62,170, $64,000, $66,000.

Looking ahead, the first level of resistance now lies at the current ATH at $58,350, followed by resistance at $59,720 (short-term 1.272 Fib Extension). This is closely followed by $60,000.

Beyond $60,000, additional resistance lies at $60,735 (short term 1.414 Fib Extension), $62,170 (1.414 Fib Extension – blue), $64,000, and $66,000 (1.414 Fib extension – orange).

In case of a correction, the first support lies at $57,686 (today’s previous resistance and yesterday’s high). This is followed by $56,112 (yesterday’s resistance turned support & previous price channel boundary), $55,000, $52,365, and $50,800 (.236 Fib Retracement & lower boundary of price channel).

The RSI is extremely overbought as it sits above 80. However, the RSI was higher during the January 2021 surge, indicating there is still room for the momentum to push higher.

It will be interesting to see if the bullish momentum will continue going forward to the new week.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

Polkadot Price Analysis: DOT Turns Parabolic and Sets ATH Above $40

DOT/USD – Bulls Turn Parabolic Above Ascending Price Channel

Key Support Levels: $35.50, $32.71, $30.
Key Resistance Levels: $40.92, $41.63, $45.57.

DOT has been trading within an ascending price channel for the majority of February. Yesterday, it pushed higher from $36 to meet resistance at $35.50 (1.272 Fib Extension & the upper boundary of the price channel).

Today, DOT managed to break the upper boundary of the price channel and start to turn parabolic. It surged as much as 17% to set the new ATH price at $40.92.

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DOT/USD Daily Chart. Source: TradingView

DOT-USD Short Term Price Prediction

Looking ahead, the first resistance lies at the ATH price of $40.92. This is closely followed by $41.63 (1.618 Fib Extension), $45.57 (1.272 Fib Extension – orange), $48 (1.618 Fib Extension – blue), and $50.

On the other side, the first support lies at $35.50. This is followed by $32.71 (.236 Fib), $30, $27.67 (.382 Fib), and $23.60 (.5 Fib).

The RSI is in overbought conditions that show the bulls might be overextended, and it also shows hints of bearish divergence, suggesting a retracement might be needed.

DOT/BTC – Bulls Break Rising Wedge

Key Support Levels: 0.00065 BTC, 0.000595 BTC, 0.0005 BTC.
Key Resistance Levels: 0.0007 BTC, 0.000739 BTC, 0.000762 BTC.

Against Bitcoin, DOT has been trading within a rising wedge for February. It had managed to break the previous ATH price of 0.000596 BTC earlier this week but became stuck at the upper boundary of the wedge.

It penetrated this wedge’s upper boundary today as it surged into the current price at 0.000681 BTC. It had surged higher, reaching as high as 0.000711 BTC but has since dropped to the current price.

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DOT/BTC Daily Chart. Source: TradingView

DOT-BTC Short Term Price Prediction

Looking ahead, the first level of resistance lies at 0.0007 BTC. This is followed by 0.000739 BTC (1.414 Fib Extension – blue), 0.000762 BTC (1.618 Fib Extension – red), 0.0008 BTC, and 0.000815 BTC (1.618 Fib Extension – blue).

On the other side, the first support lies at 0.00065 BTC. This is followed by 0.000595 BTC (.236 Fib), 0.0005 BTC, and 0.000523 BTC (.382 Fib).

The RSI is rising and is still yet to become overbought. This suggests there is still room for the bulls to push higher.

Crypto Price Analysis & Overview February 19th: Bitcoin, Ethereum, Ripple, Binance Coin, and Polkadot

It’s safe to say that the past 7 days were particularly intense on the cryptocurrency market. The cryptocurrency that expanded the most out of the large-caps is Binance Coin (BNB) as it surged by a whopping 150% in a week.

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Bitcoin

Bitcoin is up by a strong 14.8% this week as the cryptocurrency continues to set new ATH prices today. Last week, it was battling with the resistance at $48,570, provided by a 1.414 Fib extension level.

This level was only penetrated on Tuesday, which allowed Bitcoin to push higher into resistance at $52,365. It stalled here for a couple of days until breaking higher today to set the new ATH price.

It is important to note that Bitcoin is trading within an ascending price channel and is approaching this channel’s upper border.

Looking ahead, the first strong resistance lies at $54,500 (1.618 Fib Extension & upper border of the price channel). This is followed by $56,112 (1.414 Fib Extension – purple), $47,869 (1.272 Fib Extension – blue), and $60,000.

Beyond $60,000, resistance lies at $62,170 and $65,000.

On the other side, the first level of support lies at $51,378. This is followed by $50,000, $47,465 (.236 Fib), $45,000, and $44,100 (.382 Fib).

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BTC/USD. Source: TradingView

Ethereum

Ethereum is also up this week after it managed to rise by 10% to hit the current $1,960 resistance. ETH is also trading within an ascending price channel, and it had reached resistance at $1,850 last week.

It struggled to break this resistance over the course of the week, and the breakout only occurred yesterday, which allowed ETH to rise to $1,960 (1.272 Fib Extension).

Looking ahead, the first level of resistance lies at $2,000. This is followed by the upper border of the price channel, $2,061 (1.414 Fib Extension), $2,138, and $2,207 (1.618 Fib Extension). Additional resistance lies at $2,400, $2,500, and $2,680.

On the other side, the first support lies at $1,850. This is followed by $1,800, $1,631 (.236 Fib & lower boundary of the price channel), $1,500, and $1,425 (.382 Fib).

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ETH/USD Daily Chart. Source: TradingView

Ethereum continues to struggle against Bitcoin and is down by 22% from the February highs as it trades at 0.0361 BTC today. Last week, ETH was trading at 0.039 BTC as it started to slide. It initially found support at 0.0372 BTC (.5 Fib) but eventually fell through this support on Monday.

ETH continued to drop until support was found at 0.0349 (downside 1.272 Fib Extension). It rebounded from there but could not reach as high as 0.038 BTC. It has since dropped into the March 2019 support today with the latest Bitcoin price hikes.

Looking ahead, the first support lies at 0.0349 BTC (downside 1.272 Fib extension). This is followed by 0.0344 BTC (100-days EMA), 0.0337 BTC (Nov 2020 highs), and 0.032 BTC (200-days EMA).

On the other side, the first resistance lies at 0.038 BTC. This is followed by 0.039 BTC, 0.0396 BTC (Feb 2019 high), and 0.0405 BTC (2020 highs).

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ETH/BTC Daily Chart. Source: TradingView

Ripple

XRP only saw a small 7.3% price hike this week as it battle to remain above $0.5. Last week, Ripple was climbing higher as it bounced from $0.4. This weekend, the coin managed to reach as high as $0.67 but could not close a daily candle above $0.64.

As a result, XRP started to head lower this week but managed to find support at $0.5 (.382 Fib). It has rebounded from there to trade at the current $0.551 level.

Looking ahead, the first level of resistance lies at $0.556 (2019 Highs). This is followed by $0.6, $0.648 (bearish .786 Fib), $0.67, and $0.685.

On the other side, the first support lies at a rising trend line. This is followed by $0.5, $0.453 (.5 Fib), $0.4 (.618 Fib), and $0.35 (Feb 2020 Highs).

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XRP/USD Daily Chart. Source: TradingView

Against Bitcoin, XRP was trading within a symmetrical triangle pattern during February. It fell out of this triangle pattern this week as it dropped from 1300 SAT to reach the support at 1000 SAT. The bulls have battled to remain above 1000 SAT for the past four days of trading.

Moving forward, if the sellers push beneath 1000 SAT, the first support lies at 980 SAT (.786 Fib). This is followed by 867 SAT (previous range), 800 SAT, and 670 SAT.

On the other side, the first strong resistance lies at 1200 SAT (December 2017 lows). This is followed by 1300 SAT, 1400 SAT (100-days EMA), and 1550 SAT (November 2020 lows).

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XRP/BTC Daily Chart. Source: TradingView

Binance Coin

The growth of Binance Coin has been truly outstanding after being able to explode by over 600% this past month. BNB is up by another 153% this week as the coin breaches $300 and enters the top three ranked cryptocurrency projects.

Last week, BNB had surged higher from $75 to hit the resistance at $148.37 (1.618 Fib Extension). It stalled there for around a week until the resistance was finally penetrated on Wednesday, allowing it reach $175.

The bulls continued their push over the past couple of days and drove BNB into a new ATH price at $348.66 (1.414 Fib Extension) today. It has since dropped slightly as it now trades near $305.

Looking ahead, the first level of resistance lies at $326 (1.272 Fib Extension). This is followed by $350 (1.414 Fib Extension), $380 (1.618 Fib Extension), and $400. Beyond $400, resistance lies at $410, $441, $466, and $487.

On the other side, the first support lies at $295 (.236 Fib). This is followed by $262 (.382 Fib), $250, $210 (.68 Fib), and $200.

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BNB/USD Daily Chart. Source: TradingView

Binance Coin has also been performing very well against Bitcoin. The coin had reached resistance at 0.003 BTC last week and headed into support at 0.025 BTC from there.

On Wednesday, the bulls rebounded from 0.025 BTC as they started to push above the 0.03 BTC resistance to reach 0.0338 BTC. The bullish pressure continued from there as BNB surged to reach as high as 0.065 BTC today. It has since dropped to around 0.0056 BTC.

Looking ahead, the first level of resistance lies at 0.006 BTC. This is followed by 0.065 BTC, 0.00671 BTC (1.414 Fib Extension – pink), and 0.007 BTC (1.618 Fib Extension – purple). Added resistance is found at 0.00731 BTC and 0.0075 BTC.

On the other side, the first support lies at 0.0055 BTC. This is followed by 0.005 BTC (.382 Fib), 0.00453 BTC (.5 Fib), and 0.00406 BTC (.618 Fib).

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BNB/BTC Daily Chart. Source: TradingView

Polkadot

Polkadot saw a respectable 35.3% price hike itself this week as it reached a new ATH price at $35 today. The cryptocurrency has been trading within an ascending price channel for the entire period of February and recently reached the upper boundary of this channel today.

Looking ahead, the first level of resistance above the ATH price lies at $35.50 (1.272 Fib Extension). This is followed by $38 (1.414 Fib Extension), $40, and $41.63 (1.618 Fib Extension). Additional resistance lies at $45 and $48.

On the other side, the first support lies at $33. This is followed by $30 (the lower boundary of the price channel), $28 (.236 Fib), $25, and $23.86 (.382 Fib).

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DOT/USD Daily Chart. Source: TradingView

Likewise, DOT is also performing very well against Bitcoin. The cryptocurrency created a new ATH price at 0.00065 BTC today. It was trading inside a rising wedge but recently penetrated toward the upside of this wedge today. We will need a daily candle close above the wedge to confirm the breakout.

Looking ahead, the first level of resistance lies at 0.00065 BTC. This is followed by 0.000689 BTC (1.272 Fib Extension), 0.0007 BTC, 0.000726 BTC, and 0.000739 BTC (1.414 Fib Extnesion). Added resistance is found at 0.0008 BTC and 0.000815 BTC.

On the other side, the first support lies at 0.0006 BTC. This is followed by 0.000545 BTC (.236 Fib), 0.0005 BTC, and 0.000482 BTC (.382 Fib).

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DOT/BTC Daily Chart. Source: TradingView

Bitcoin Price Analysis: BTC Sets ATH at $53K, is $60,000 in Sight?

Bitcoin is up by 2.2% today as the coin increased by $2,300 from today’s low of $50,627 to set a new ATH price at $52,943.

Overall, the cryptocurrency has managed to surge by 10% over the past week after breaching the $50,000 level on Wednesday to reach the resistance level at $52,365 (short-term 1.414 Fib extension). BTC has been battling with this resistance over the past 48 hours as it has been unable to close a daily candle above it so far. It will be interesting to see if Bitcoin can make it in today’s daily candle.

Looking at the larger picture, the cryptocurrency is trading within an ascending price channel since the beginning of February and over the past two weeks, while finding support upon the midline (equilibrium).

Since February 8th, when Bitcoin broke above the previous ATH at $42K, all daily candle closes were above the support.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $51,378, $50,000, $47,645, $45,000, $44,100.

Key Resistance Levels: $52,365, $53K, $53,400, $54,500, $56,112, $57,686.

Looking beyond $52,365, the first level of resistance lies at $53K (current all-time high level), $53,400 (1.272 Fib Extension – purple). This is followed by $54,500, $56,112 (1.414 Fib Extension – purple), $57,686 (1.272 Fib Extensoin – blue), and $60,000.

On the other side, the first support is located at $51,378. This is followed by $50,000, $47,645 (.236 Fib & lower boundary of the price cahnnel), $45,000, and $44,100 (.382 Fib).

The daily RSI is showing minor hints of a bearish divergence, which can be seen on the following 4-hour chart. However, this has also been showing all week, and it seems unlikely to result in any major price declines.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

BNB Price Analysis: Binance Coin Eyes $200 After Gaining 300% In 2 Weeks

BNB/USD – Bulls See 332% Price Explosion

Key Support Levels: $180, $157, $150.
Key Resistance Levels: $200, $218, $240.

Binance Coin is up by an extraordinary 332% over the past two weeks. The cryptocurrency was trading at just $50 at the beginning of February.

Yesterday, the BNB bulls managed to push past $150 as they continued higher today to reach $196. It has since dropped slightly.

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BNB/USD Daily Chart. Source: TradingView

BNB-USD Short Term Price Prediction

Moving forward, the first resistance lies at $200 (1.618 Fib Extension – orange). This is followed by $218 (1.618 Fib Extension – red), $240, and $251 (1.414 Fib Extension – blue).

On the other side, the first support lies at $180. This is followed by $157 (.236 Fib), $150, and $132.10 (.382 Fib).

The RSI is overbought but still can move upward to push the market higher before becoming extremely overbought. The Stochastic RSI is far from being overbought right now.

BNB/BTC – Bulls Break 2020 Highs

Key Support Levels: 0.0034 BTC, 0.00316 BTC, 0.003 BTC.
Key Resistance Levels: 0.00371 BTC, 0.00386 BTC, 0.00401 BTC.

Binance Coin is also performing phenomenally well against Bitcoin. The coin broke the 200-days EMA at around 0.0017 BTC at the start of February as it started to surge. Initially, it found resistance at 0.00292 (bearish .5 Fib), which caused the market to drop back into the 0.0026 BTC support.

It rebounded from 0.00265 BTC (2018 Highs) yesterday and continued to explode beyond 0.003 BTC. The buyers managed to break the 2020 highs of 0.00316 BTC today as they pished as high as 0.0038 BTC.

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BNB/BTC Daily Chart. Source: TradingView

BNB-BTC Short Term Price Prediction

Looking ahead, the first level of resistance lies at 0.00371 BTC. This is followed by 0.00386 BTC, 0.00401 BTC (bearish .786 Fib), and 0.0041 BTC (1.272 Fib Extension).

On the other side, the first support lies at 0.0034 BTC. This is followed by 0.00316 BTC (2020 High), 0.003 BTC, and 0.00277 (October 2020 High).

Likewise, the RSI is overbought but still has room to push higher before becoming extremely overbought.

BNB Price Analysis: Binance Coin Eyes $200 After Gaining 300% In 2 Weeks

BNB/USD – Bulls See 332% Price Explosion

Key Support Levels: $180, $157, $150.
Key Resistance Levels: $200, $218, $240.

Binance Coin is up by an extraordinary 332% over the past two weeks. The cryptocurrency was trading at just $50 at the beginning of February.

Yesterday, the BNB bulls managed to push past $150 as they continued higher today to reach $196. It has since dropped slightly.

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BNB/USD Daily Chart. Source: TradingView

BNB-USD Short Term Price Prediction

Moving forward, the first resistance lies at $200 (1.618 Fib Extension – orange). This is followed by $218 (1.618 Fib Extension – red), $240, and $251 (1.414 Fib Extension – blue).

On the other side, the first support lies at $180. This is followed by $157 (.236 Fib), $150, and $132.10 (.382 Fib).

The RSI is overbought but still can move upward to push the market higher before becoming extremely overbought. The Stochastic RSI is far from being overbought right now.

BNB/BTC – Bulls Break 2020 Highs

Key Support Levels: 0.0034 BTC, 0.00316 BTC, 0.003 BTC.
Key Resistance Levels: 0.00371 BTC, 0.00386 BTC, 0.00401 BTC.

Binance Coin is also performing phenomenally well against Bitcoin. The coin broke the 200-days EMA at around 0.0017 BTC at the start of February as it started to surge. Initially, it found resistance at 0.00292 (bearish .5 Fib), which caused the market to drop back into the 0.0026 BTC support.

It rebounded from 0.00265 BTC (2018 Highs) yesterday and continued to explode beyond 0.003 BTC. The buyers managed to break the 2020 highs of 0.00316 BTC today as they pished as high as 0.0038 BTC.

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BNB/BTC Daily Chart. Source: TradingView

BNB-BTC Short Term Price Prediction

Looking ahead, the first level of resistance lies at 0.00371 BTC. This is followed by 0.00386 BTC, 0.00401 BTC (bearish .786 Fib), and 0.0041 BTC (1.272 Fib Extension).

On the other side, the first support lies at 0.0034 BTC. This is followed by 0.00316 BTC (2020 High), 0.003 BTC, and 0.00277 (October 2020 High).

Likewise, the RSI is overbought but still has room to push higher before becoming extremely overbought.

Bitcoin Price Analysis: Following The $50K Breakout, Those Are The Next Possible Targets

Bitcoin price surged by a total of 5% over the past 24 hours, as the coin finally exceeds the $50,000 milestone.

Just nine days ago, the primary cryptocurrency had broken above the January-2021 previous ATH at $42,000, on the day Tesla disclosed its $1.5 billion Bitcoin purchase.

BTC then saw its largest-ever daily price candle, and encountered resistance at $48,570 (1.414 Fib Extension – green), struggling with it over the past few days till finally managing to close a daily candle above that during the weekend.

As shown on the following short term’s 4-hour chart, Bitcoin has been trading inside an ascending price channel since the end of January. Over the past week, it found support upon the channel’s equilibrium (midline) as support maintained the rising trend.

Over the past two days, Bitcoin had found resistance at $49,500 and struggled to break above it. Thus, forming a rising wedge pattern, which is typically a bearish pattern.

Unfortunately to the bears, we saw a bullish breakout to the upside – allowing BTC to surpass $50,000 and reach the $51,378 resistance (1.618 Fib Extension – green), where it is currently trading now.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $50,000, $48,570, $46,414, $45,000, $43,100.

Key Resistance Levels: $51,378, $52,365, $54,500, $56,112, $57,686, $60,000.

Looking ahead, the first level of resistance beyond $51,400 lies at $52,365 (1.414 Fib Extension – turquoise). This is followed by $54,500 (1.618 FIb Extension – yellow & the upper boundary of the channel), and $56,112 (1.414 Fib Extension – purple), $57,686 (1.272 Fib Extension – blue) and $60,000.

On the other side, the first level of support lies at $50,000. This is followed by $48,570 (previous resistance & the midline of the price channel), $46,414 (.236 Fib & lower boundary of the price channel), and $45,000. Further support lies at $43,100 (.382 Fib) and $42,000.

The daily RSI is now at its highest level since February 9, invalidating the bearish divergence, which is fading away. However, on the longer timeframes – the weekly – there is still bearish divergence, which requires a correction at some point.

In the short term, the RSI is nearing its overbought area but still has room before the market becomes overextended.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView

Cardano Price Analysis: Following the Correction, $1 Inbound for ADA?

ADA/USD – Cardano Bulls Back On The Offesnive

Key Support Levels: $0.813, $0.711, $0.629.
Key Resistance Levels: $0.941, $1.00, $1.10.

Cardano had pushed higher above an ascending price channel at the start of February and started to turn parabolic. It continued to surge until it met resistance at $0.941 (1.618 Fib Extension – red) last week.

From there, ADA started to decrease. It managed to find support at $0.813 (.236 Fib) and defended this level pretty well. Yesterday, ADA did spike as low as $0.7 but quickly recovered back above $0.813 before the daily candle closed.

ADA has now started to push higher as it makes an attempt to break above $0.9.

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ADA/USD Daily Chart. Source: TradingView

ADA-USD Short Term Price Prediction

Looking ahead, the first resistnace lies at $0.941 (1.618 Fib Extension – red). This is followed by $0.989 (1.618 Fib Extension – blue), and $1.00. Beyond $1.00, additional resistance lies at $1.10, $1.17 (1.414 Fib Extension – orange), and $1.28 (1.618 Fib Extension – orange).

On the other side, the first level of support lies at $0.813 (.236 Fib). This is followed by $0.711 (.382 Fib), $0.629 (.5 Fib), and $0.546 (.618 Fib).

The RSI was trading at extremely overbought conditions last week as it met the high of $0.941. It has since dropped lower, allowing the buyers some breathing room before pushing higher again.

ADA/BTC – Bulls Defend July 2020 High-Day Closing Price

Key Support Levels: 1660 SAT, 16000 SAT, 1500 SAT.
Key Resistance Levels: 1928 SAT, 2000 SAT, 2095 SAT.

Against Bitcoin, ADA had pushed as high as 2095 SAT (1.414 Fib Extension) last week. It could not continue further above there and has been dropping for the past few days.

It had found support at 1660 SAT (.382 Fib) but spiked much lower into 1500 SAT (July 2020 high-day close) yesterday. It quickly recovered from these lows and managed to close above 1660 SAT by the time the candle closed.

Today, ADA is attempting its recovery as it hits 1813 SAT.

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ADA/BTC Daily Chart. Source: TradingView

ADA-BTC Short Term Price Prediction

Looking ahead, the first resistance lies at 1928 SAT (1.272 Fib Extension – orange). This is followed by 2000 SAT, 2095 SAT (1.414 Fib Extension – orange), 2237 SAT, and 2333 SAT (1.618 Fib Extension – orange).

On the other side, the first support lies at 1660 SAT (.382 Fib Retracement). This is followed by 1600 SAT (July 2020 High), 1500 SAT (July 2020 HDC), and 1385 SAT (.618 Fib & Rising Trend Line Support).

The RSI has returned to the midline and has bounced from it slightly, indicating the bulls remain in control of the market momentum.

Ripple Price Analysis: XRP Up 36% Weekly, Facing Huge Resistance

XRP/USD – Bulls Back On The Offensive

Key Support Levels: $0.569, $0.505, $0.453.
Key Resistance Levels: $0.609, $0.635, $0.675.

XRP managed to surge by around 36% this week as the cryptocurrency trades at $0.57. Last week, XRP pushed above a descending trend line that dated back to early December 2020. After breaking this trend line, the coin started to rally, reaching as high as $0.675 yesterday.

Unfortunately, it could not close a daily candle above $0.635 and has dropped lower today, spiking as low as $0.5 (.382 Fib). It managed to rebound from there to trade back above $0.57 (.236 Fib) support.

Undoubtedly, the first level of major resistance lies at around $0.6.

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XRP/USD Daily Chart. Source: TradingView

XRP-USD Short Term Price Prediction

Looking ahead, the first resistance lies at $0.609 (1.414 Fib Extension). This is followed by $0.635, $0.675 (yesterday’s high), and $0.685 (1.272 Fib Extension). Additional resistance lies at $0.718 (bearish .886 Fib), $0.75, and $0.77 (1.618 Fib Extension).

On the other side, the first support lies at $0.569 (.237 Fib). This is followed by $0.505 (.382 Fib), $0.453 (.5 Fib), and $0.4 (.618 Fib).

The RSI is dropping, indicating fading bullish momentum. However, it is still well above the midline, which suggests the bulls are still in charge.

XRP/BTC – Bulls Trading Inside Symmetrical Triangle Pattern

Key Support Levels: 1000 SAT, 980 SAT, 867 SAT.
Key Resistance Levels: 1472 SAT, 1550 SAT, 1800 SAT.

Against Bitcoin, XRP managed to rebound from the 980 SAT (.786 Fib) support last week as it surged into 1300 SAT over the weekend. It has dropped lower today and is battling to stay above 1200 SAT (December 2017 Lows).

It has now formed a symmetrical triangle pattern, and the breakout direction of this triangle will determine where XRP will head next.

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XRP/BTC Daily Chart. Source: TradingView

XRP-BTC Short Term Price Prediction

Moving forward, the first resistance lies at the upper angle of the triangle. This is followed by 1472 SAT (1.414 Fib Extension & 100-days EMA), 1550 SAT (November 2020 Lows), and 1800 SAT (200-days EMA).

On the other side, the first support lies at the lower angle of the triangle. This is followed by 1000 SAT, 980 SAT (.786 Fib), and 867 SAT.

The RSI is at the midline, indicating indecision between the bulls and bears. If it can rise higher from the midline, XRP can be expected to break toward the upside of the triangle with the increased momentum.

Bitcoin Price Analysis: After $50K Rejection, is BTC in for Further Correction Due to Divergence?

Bitcoin dropped by a small 2.8% today after failing to breach resistance at $50,000 yesterday. The cryptocurrency increased by 22.5% over the past week of trading as it surged higher to meet resistance at $48,570 (1.414 Fib Extension green).

Yesterday, Bitcoin was able to breach the significant resistance at $48,570 but struggled to advance above the next major supply zone at $49,500 – $50,000. It then failed to close the daily candle above $48,570, and drop further down to retest below $46,000. However, the bulls quickly bought the dip, and just a few hours later Bitcoin is trading again above $48K, as of writing these lines.

Bitcoin has been relying on the midline of the ascending price channel as solid support since the 8th of February, 2021, as can be seen on the following 4-hour chart. It has now also formed a short term ascending triangle pattern with the triangle’s top at $48,570.

A daily candle close above $48,570 will be required to allow Bitcoin to head above the psychological $50,000 barrier.

BTC Price Support and Resistance Levels to Watch

Key Support Levels: $47,500, $46,000, $44,855, $44,000, $42,000.

Key Resistance Levels: $48,570, $49,500, $50,000, $50,400, $41,380.

Looking ahead, the first level of resistance lies at $48,570 (1.414 Fib Extension – green). This is followed by $49,500 (short term 1.618 Fib Extension) and $50,000. Beyond $50,000, additional resistance lies at $50,400 (1.414 Fib Extension – yellow) and $51,380 (1.618 Fib Extension – green).

On the other side, the first support lies at the ascending price channel’s midline – around $47,500. Beneath this, support lies at $46,000 ($45,914 is today’s low according to Bitstamp), $44,855 (.236 Fib), $44,000 (lower boundary of the price channel), and $42,000.

Despite the bullishness, the RSI on both timeframes is starting to show hints of a bearish divergence as the price makes higher highs while the RSI fails to do the same. This might suggest that a brief pullback may be occurring for Bitcoin while the divergence plays out.

Bitstamp BTC/USD Daily Chart

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BTC/USD Daily Chart. Source: TradingView

Bitstamp BTC/USD 4-Hour Chart

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BTC/USD 4-Hour Chart. Source: TradingView