Bitcoin, Ripple & Ethereum – Asian Wrap April 9


Bitcoin technical analysis: BTC/USD sits below a huge stack of resistance

BTC/USD had a bearish start to this Thursday as the price fell from $7,369 to $7,310. The daily confluence detector shows that there is a lack of healthy support levels to hold the price up. On the other hand, the price is sitting directly below a strong stack of resistance from $7,350-$7,415. 

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Ripple Price Analysis: XRP/USD flirting with the 38.2% Fibonacci amid consolidation

Ripple price has kicked off the session on Thursday with losses amounting to 1.07%. The majority of the digital assets in the market are grappling with increased selling pressure. Bitcoin price is down 0.57% to trade at $7,326 while Ethereum has lost 1.1% of its value to trade at $171.

 

Ethereum Price Analysis: ETH/USD drops down after encountering resistance at the SMA 200

ETH/USD is currently consolidating in a flag formation as it dropped from $173.31 to $171.75 in the early hours of Thursday. The price encountered resistance at the SMA 200 and fell down. If the bulls were to regain control, they have three obvious goals – take the price up to $173.50 and break above the SMA 200, go above $176.50 to break above the SMA 50.



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