- The Crypto board does not take advantage of the momentum.
- Ripple relinquishes leadership and is driven by pessimism.
- ETH / USD again has an opportunity to lead the market, even in the bearish environment.
Today it dawns in Europe with the upside dominating the Crypto Board. In the analysis that I published on Monday, I talked about this possibility. As I warned in that article, it is unlikely to be a movement that will change the current trend. In the daily chart, the structures continue to deteriorate, and the bearish targets remain.
The massacre that took place among the miners of Bitcoin. With production costs of $ 6,100 for Bitcoin, many are declaring bankruptcy and selling their equipment at bargain prices. Bitcoins they produce. They are economically and have to close in days. It is called natural selection.
Speaking of natural selection, the fight for leadership among the TOP 3 of the Crypto market is more active than ever. The XRP loses momentum against BTC and ETH. BTC in the short term.
I take this opportunity to remind you of the BTC.
Do you want to know more about my technical setup?
BTC / USD 240-Minutes.
The 240-Minute BTC / USD is currently trading at the $ 4,436 price level. After a last-minute move away from the $ 4,392 support, it is now struggling to escape its attraction and make an attempt at $ 4,928.
The post-crash scenario is consolidating, and the possibility of a quick exit to the upside is diminishing.
Above the current price, the first resistance at $ 4,924 (price congestion resistance). Above this level, the EMA50 appears at $ 5,147. If the BTC / USD managed to overcome this exponential average, we could begin to think of a scenario and a bullish turn. In the meantime, the danger of new lows will be present.
Below the current price $ 4,392 (price congestion support). The second support level at $ 3,932 (price congestion support) would set up new year lows and would certainly take the nerve state of many readers to the next level. The third level of support at $ 3,250 (price congestion support) is far away and would certainly raise much money wanting to buy at a discount. Remember that mining at BTC today costs $ 6,100.
The MACD at 240-Minutes shows a cross profile of a non-divergent bullish cross profile. This setup opens up two possible scenarios. The first is an upside scenario of uncertain potential. The second is a sideways movement scenario. The least likely scenario is the bearish one.
The 240-Minute DMI shows little change from yesterday's levels. The bears keep the tone below the 40 level that marks a strong trend. The bulls, on the other hand, remain at level 10, very far from levels that influence the price.
XRP / USD 240-Minutes.
The XRP / USD is currently trading at the $ 0.4434 price level, pegged to the $ 0.4427 support level. To see more about the situation of the XRP concerning the BTC and the ETH, read the article about the European market.
Above the current price, the first resistance at $ 0.449 (bullish trend line). This type of crosses is challenging. If the XRP / USD managed to consolidate a close above, the second resistance in a range between $ 0.472 and $ 0.48 where the EMA50, the SMA100 and the trendline that governs the bullish movement from the year's lows converge. A tough obstacle. Exceeding this resistance would bring the XRP / USD back to the previous scenario and the rise could be significant.
The MACD at 240- Minutes shows a profile about to cross upwards. The proximity of significant obstacles, and we can see a significant bearish rejection.
The 240-minute DMI shows a similar profile to the BTC / USD. Both bears and bulls remain at yesterday's levels. In the case of the XRP / USD the inclination of the bear's line is slightly bearish.
ETH / USD 240-Minutes.
The ETH / USD trades at the price level of $ 135. Of the Top 3 is the cryptocurrencies that show a more advanced bullish rebound profile. After leaving the lows at $ 125, it managed to recover 10% and is gradually marking the current $ 135 as support for price congestion.
Below the current price, the first support at $ 125 (related lows). Second support at $ 94 (price congestion support). Third support at $ 81. A lot of nerves and despair. If you're in a cash position, do not sell at lows. If you are using leverage, you should not know in these market environments.
Above the current price, the first resistance at $ 155 (price congestion resistance). The second resistance is in the EMA50. The third resistance at $ 170 (price congestion resistance) would change the scenario since it would have been EMA50 below supporting the rises.
The MACD at 240-Minutes shows a cross profile to the non-divergent upside. This setup subtracts upside potential and supports either slight rises or lateral movement.
The 240-Minute DMI also shows bears and bulls at the same levels as yesterday. I want to emphasize the low level indicated by the bulls. It is a rare level, and this supports a possible increase from a simple return to the average.
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