Crypto Market Analysis

Risk aversion returning to crypto markets once again


Today, the Bitcoin price shows a decline of -2.55% in the last 24 H and its moving at the time of writing this update around $ 6587.

The Immediate support is $ 6495 and a bullish pressure not necessarily strong can send it to $ 6434 (Minimum of April 1)


The 200 and 100 SMA lines are approaching. If the 100 SMA crosses over the 200 SMA, we could be facing a reversal; however, this SMA can become an important resistance in the short term even for a probable rebound.

The stochastic is pointing down to indicate that sellers still have some energy to pressure the BTC to have more losses, although it is still far from oversold conditions which indicate weakness in the bearish pressure.

Risk aversion returned to markets once again in the face of worsening trade tensions between the US and China. Any of the parties refuses to back down and has announced higher tariff blocks between them in the last 24 hours.

That has led to a large wave of stock and commodity sales, which has motivated traders to place funds in the Dollar as a safe haven. This morning’s NFP did not bring good news for the dollar either, as only 103,000 jobs were generated in the last month compared to an expected data of 190,000. This result discourages the hopes of rising rates during the rest of the year and does not make the dollar attractive compared to the Bitcoin price.


The Ripple price lost -4.20% in the last 24 H, and it is now moving around $0.46

The XRP has not had any recovery during the last sessions above $ 0.5000. There were mainly bearish movements below the resistance of $ 0.5000 and the Simple Moving Average of 100 hours. The recent minimum was formed at $ 0.4754, and after that, its price has been moving in a range.

The most important barrier to a recovery is near the resistance at $ 0.5000 and the simple 100-hour moving average. If the price crosses this number, most likely will visit the $0.5260 and then the $0.5487.

Below that level, we find an immediate support at $ 0.4538 reached on April 1, and, below that level, there are no other supports other than the last prices reached on December 12,  at $0.3715

The stochastic is pointing up (1H graphic) and close to the 80 level, which means that the price could bounce and still move lower.



Ethereum price has lost -3.68% in the last 24  Hours, currently moving around $367.

A short-term bearish trend line has been formed, with resistance at $ 385 on the 1H chart. If we want to see gains in the pair, its price would have to exceed this level, and also exceed the 100 SMA level, which is located a bit higher, and approach the round number $400; but to get there, it must break the resistance at $385 and $391.

There is a positive fact that the price has managed to stay above its support at $ 362-364. The most recent minimum was formed at $364.32 before the price started to consolidate. Currently, it is trading above the $ 364 level.


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