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Bitcoin
Bitcoin saw another 4% price hike this week, which broke the $ 16,000 level to hit $ 16,491 today. The coin has since fallen slightly to trade at $ 16,135 at the time of writing.
Last week, the coin had risen to the $ 16,000 level, which caused it to roll and fall into the $ 14,850 support last Saturday. Bitcoin managed to bounce higher from there when it started climbing on Sunday. The coin did not return to $ 16,000 until Wednesday, and it rose above the resistance yesterday to hit $ 16,400.
Looking ahead, if buyers manage to break out of $ 16,400 again, the first highest resistance level is at $ 16,720 (1,272 Fib Extension). Thereafter, resistance lies at $ 16,800, $ 17,000 and $ 17,186 (2018 highs). Additional resistance is found at $ 17,500, $ 17,680 and $ 18,000.
On the other hand, the first support level is at $ 16,000. Below that, support is expected at $ 15,5500, $ 15,242 (.382 Fib), $ 15,000 and $ 14,858 (.5 Fib).
Ethereum
Ethereum has seen a much stronger 13% price hike in the past week of trading, as the cryptocurrency approaches the $ 470 level today. The coin jumped from $ 420 to $ 456 last Friday. The coin struggled to break through the resistance at $ 456 over the weekend and only managed to penetrate it on Wednesday.
After breaking $ 456, ETH continued to breach the resistance at $ 462.50 (bearish retracement of 0.886 Fib) and reached a high of $ 475 (September close). It was unable to hold this high and dropped slightly into the $ 462.50 support.
Today, ETH climbed higher to reach resistance at the upper limit of the rising price channel.
Looking ahead, if buyers manage to break out of the upper limit of the price channel, the first resistance level is at $ 475 (September high). Other than that, resistance is expected at $ 490, $ 500, and $ 511.
On the other hand, if the sellers push down, the first support level is at $ 462.50. Below that, support is expected at $ 456, $ 445, and $ 438 (August 2018 high). Additional support is $ 430, $ 421, and $ 410.
Against Bitcoin, Ethereum was trading at the 200-day EMA on Friday. The coin attempted multiple times to break through this resistance at 0.0295 BTC over the course of the week, but failed each time. This led to the ETH reversing yesterday, dropping to support of 0.0284 BTC (February 2020 highs).
The coin bounced higher from this support today to hit 0.029 BTC, but has yet to break the resistance 200-day forward EMA.
Moving forward, the first resistance level is located at 0.0295 BTC (200-day EMA). Above this, the resistance lies at 0.03 BTC, 0.0305 BTC and 0.031 BTC (100-day EMA).
On the other hand, the first support level is found at 0.0284 BTC (February 2020 high). Below that, support is found at 0.0278 BTC, 0.0272 BTC and 0.0267 BTC (November lows).
Ripple
XRP managed to outperform Bitcoin this week as it rose 5.7% over the past seven days. Despite this price increase, XRP remains within the 2-month trading range of $ 0.261 to $ 0.228 and must break one of these limits to dictate the next direction of the market.
Looking ahead, if buyers manage to break through the resistance at the $ 0.261 level (0.5 Fib bearish retracement), greater resistance is found at $ 0.271 (bearish .618 Fib), $ 0.28, and $ 0.286 (retracement. bearish .786 Fib).
On the other hand, the first support level is at $ 0.25. Below that, support is expected at $ 0.245 (100-day EMA), $ 0.24 (200-day EMA), $ 0.235 and $ 0.228 (.618 Fib Retracement).
Against BTC, XRP continues to struggle as it is trading at 3-year lows. The coin failed to break through the resistance at 1700 SAT last Friday, which saw it fall over the course of the week. Yesterday, XRP fell below the support at 1610 SAT and returned to November lows at 1555 SAT.
It rebounded slightly from there to reach 1600 SAT today. However, the outlook remains extremely bearish.
Moving forward, if the sellers break above the 1600 SAT value again, the first support level is at 1555 SAT. Under 1500 SAT, additional support is found at 1493 SAT, 1450 SAT and 1400 SAT.
On the other hand, the first resistance level is found at 1610 SAT. Above this, resistance is expected at 1700 ST, 1755 SAT (bearish 0.236 Fib) and 1800 SAT.
Chain
Chainlink saw a very robust 16.1% price explosion in the past week of trading, hitting the $ 12.75 level today. The cryptocurrency was trading at $ 11 last Friday when it started to rise. The coin continued to slowly rise until it reached resistance at $ 13 on Wednesday.
The coin is currently trading inside a rising price channel and was able to reach the upper limit of this price channel at $ 13.86 (.618 Fib bearish retracement) during the week. It has since fallen lower, but managed to bounce off $ 11.50 yesterday.
Going forward, if buyers continue to rise, the first resistance level is expected at $ 13. Above this, resistance is at $ 13.86 (.618 Fib bearish retracement), the upper limit of the channel. pricing and $ 15 (1,414 Fib Extension). The added resistance is found at $ 15.66 (bearish 0.786 Fib) and $ 16.
On the other hand, support is found at $ 12 first. Below that, additional support is found at $ 11.50, $ 11, the lower limit of the channel and $ 10.50.
Against Bitcoin, LINK was trading at 3-month lows last Friday, after bouncing off the 70,000 SAT support. From there, he managed to push higher all week until he reached 86,800 SAT.
It hasn’t been able to maintain this high as it dropped to 74,100 SAT yesterday. It has since bounced back to trading at 79,100 SAT today.
Looking ahead, if buyers push back above 80,000 SAT, the first resistance level stands at 86,800 SAT. Above this, resistance is found at 90,000 SAT, 92,120 SAT (1,272 Fib Extension) and 96,670 (bearish .382 Fib Retracement).
On the other hand, the first support level is at 74,200 SAT. Below that, support lies at 70,000 SAT, 67,367 SAT (November lows) and 63,745 SAT.
Cardano
Cardano saw a small 9.3% price hike this week, but still managed to outperform Bitcoin and XRP. The coin was trading at $ 0.0977 last Friday when it started to rise. It managed to reach $ 0.114 (0.5 Fib bearish retracement) over the weekend, but failed to sustain this high.
All week, ADA has been battling the resistance at $ 0.107 provided by the 2019 highs. It has managed to hold the support at $ 0.103 (.382 Fibonacci) for the past five days.
Looking ahead, if the bulls break out of the 2019 highs of $ 0.107, the first resistance level is at $ 0.11. Above this, resistance is found at $ 0.114 (bearish 0.5 Fib), $ 0.12 and $ 0.123 (bearish .618 Fib).
On the other hand, the first support level is at $ 0.103 (.382 Fib). Below that, support is found at $ 0.1, $ 0.097 (.618 Fib), and 0.095.
Against Bitcoin, ADA bounced off the support at 616 SAT last Friday and pushed up to 727 SAT (0.236 Fib bearish) on Saturday. During the week, the ADA started to drop and yesterday penetrated below 650 SAT. It has since rebounded slightly higher to trade at 661 SAT today, but the outlook still looks bearish.
Going forward, if sellers break below 650 SAT again, the first support level is at 616 SAT (November lows). Below that, support is found at 600 SAT, 567 SAT (.886 Fib), 550 SAT and 530 SAT.
On the other hand, the first strong resistance level is found at 700 SAT. Above this, resistance is found at 727 SAT (bearish .236 Fib), 750 SAT and 800 SAT.
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