Ripple Price Technical Analysis (April 15): No Indicators of an Upwards Movement

Ripple Price Technical Analysis (April 15): No Indicators of an Upwards Movement

The virtual coin Ripple (XRP) is currently trading at $0.328605. Looking at the chart below, we can see that the price is moving in a sideways trend after a downfall; this can be used for swing trading. We see the formation of bearish engulfing pattern which is a bearish pattern indicating further downfall. Current resistance is at $0.3228 and support is at $3.222. These levels can be used for swing trading. Dow Theory According to…

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Bitcoin Price Technical Analysis (April 11): Facing Strong Resistance at $5,475

Bitcoin Price Technical Analysis (April 11): Facing Strong Resistance at $5,475

Bitcoin (BTC) is currently trading at $5,207. The price is seen to be in a continuous uptrend. Recently, we saw the formation of a Bullish engulfing pattern which is a strong bullish pattern. But looking at the bigger picture we see that the price is facing a strong resistance at around $5,475, so taking a long position is not suggested at the moment; perhaps it would be better to wait for the price to close…

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Ethereum Classic Technical Analysis (April 8): Liftoff After Resistance Level has been Broken

Ethereum Classic Technical Analysis (April 8): Liftoff After Resistance Level has been Broken

Ethereum Classic (ETC) is currently trading at $7.32. Looking at the chart below we see that the resistance around $5.4 has been broken and the price is moving upwards with formation of a Bullish engulfing pattern. The current support is at around $5.9, while for the resistance we currently see two hurdles, one minor resistance is at around $7.4 and one major resistance at around $9. Dow Theory According to Dow Theory, the cryptocurrency is…

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Bitcoin Price Technical Analysis (April 3rd): Run, Bitcoin, Run!

Bitcoin Price Technical Analysis (April 3rd): Run, Bitcoin, Run!

Bitcoin (BTC) is currently trading at around $4,900.The price has broken the resistance levels at $4,047 and $4,311. The price level at $4,322 is now acting as support and the new resistance is at around $5,720. It can be seen that the upward rally started after the formation of a Morning Star pattern, which is a strong bullish indicator. Dow Theory According to Dow Theory, the stock has moved from the panic phase to the…

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Ethereum Price Technical Analysis (April 1st): On the Verge of a Bull Run?

Ethereum Price Technical Analysis (April 1st): On the Verge of a Bull Run?

The Ethereum crypto coin (ETH) is currently trading at $142.87. Looking at the chart we see that the trend line was acting as support but recently the support line is broken with the formation of shooting star and evening star pattern, both are strong bearish indicators pointing at a downtrend. Current support level is at $142 and resistance is at around $149. Dow Theory According to Dow Theory, ETH is currently appearing in public participation…

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Bitcoin Price Technical Analysis (March 26th): Struggling to Break Resistance Levels

Bitcoin Price Technical Analysis (March 26th): Struggling to Break Resistance Levels

Looking at the chart we see that the digital coin is currently trading at $3,960, after the price has earlier this week broken the support of $4,047, which is now acting as resistance; also, the newly formed support is now at $3,995. recently we saw the formation of a Bearish Marubozu pattern which is a bearish pattern and we can expect the price to trade around the support levels of $3,995, which can provide good…

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Bitcoin Price Technical Analysis (March 18th): Stuck Between Support and Resistance

Bitcoin Price Technical Analysis (March 18th): Stuck Between Support and Resistance

Looking at the chart below, we can see that BTC is trading at around the $4,000 mark. The price is contained between channels with some false breakouts, and an upper limit acting as resistance at $4,161 and lower limit acting as support at $3,765. Since there could be false breakouts, it is not recommended to take a long position immediately after the breakout. Dow Theory According to Dow Theory, BTC is currently appearing in an…

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