June 24, 2021

Crypto Price Analysis & Overview April 23rd: Bitcoin, Ethereum, Ripple, Cardano, and Solana

6 min read

It was a red week all over the cryptocurrency market. Almost everything, with a few exceptions, declined considerably as the overall market cap slipped below $2 trillion.

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Bitcoin saw an unstable week in which the cost stopped by a steep 20 %to break beneath $50,000 and reach as low as$47,500

today. The cryptocurrency fell underneath$ 60,000 at the start of the week as it saw a large spike lower in which it dropped to the$51,440 support(.618 Fib). It managed to rebound from there by the end of the day and closed Sunday’s candle above the 50-days MA level. Sadly, bitcoin fell below the 50-days MA on Monday and could not recuperate above it throughout the week. On Wednesday, bitcoin fell from the 50-days MA as it slipped underneath $54,000. It continued lower the other day as it closed at around $51,440(.618 Fib ). Today, the price decline went on and it dropped to$ 47,500. It has actually considering that recuperated a little and is now trading above$ 50,000 as it battles to hold support at the 100-days

MA there. Looking ahead, the very first support below the 100-days MA lies at today’s low of $47,500. This is followed by $47,000 (long term.5 Fib), $45,950 (drawback 1.414 Fib Extension), $4,750, $42,770 (long term.618 Fib), and $42,000 (Jan 21′ Highs).

On the other side, the first strong resistance lies at $50,000. This is followed by $52,000, $53,500 (rising trend line), $51,120 (bearish.382 Fib), $55,400, and $56,165 (bearish.5 Fib).

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< img class="size-full wp-image-115005 "src =" https://cryptopotato.com/wp-content/uploads/2021/04/btcusd-apr23.png "alt="btcusd-apr23"width ="2908 "height=" 1882 "srcset="https://cryptopotato.com/wp-content/uploads/2021/04/btcusd-apr23.png 2908w, https://cryptopotato.com/wp-content/uploads/2021/04/btcusd-apr23-300x194.png 300w, https://cryptopotato.com/wp-content/uploads/2021/04/btcusd-apr23-1024x663.png 1024w, https://cryptopotato.com/wp-content/uploads/2021/04/btcusd-apr23-768x497.png 768w, https://cryptopotato.com/wp-content/uploads/2021/04/btcusd-apr23-1536x994.png 1536w, https://cryptopotato.com/wp-content/uploads/2021/04/btcusd-apr23-2048x1325.png 2048w, https://cryptopotato.com/wp-content/uploads/2021/04/btcusd-apr23-50x32.png 50w" sizes="(max-width: 2908px) 100vw, 2908px"/ > BTC/USD Daily Chart. Source: TradingView Ethereum saw a smaller sized 8% price drop throughout the week as it presently trades at$

2275. The cryptocurrency has actually been rangebound between $2400 and $2162 for the past 6 days and must close a daily candle above the range to dictate the next direction for the market. Previously in the week, ETH did slip lower on Sunday as it reached$1925(.618 Fib). It rapidly rebounded from there and established strong support at $2162 (.382 Fib ). Yesterday, ETH likewise handled to create a brand-new ATH rate at$2642 however was not able to

close an everyday candle light above$2402(1.414 Fib Extension ). Looking ahead, the very first resistance lies at $2402. This is followed by$2517( 1.618 Fib Extension) and $2642. If the purchasers break the ATH, resistance lies at $2815 (1.272 Fib Extension – – purple), $2945(1.618 Fib Extension – blue)

,$ 3000, and $3066. On the other side, the very first assistance lies at$2200(20-days MA ). This is followed by $2162 (.382 Fib), $2036,$1925 (.618 Fib &),

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and$1757(.786 Fib & 100-days MA ). ETH/USD Daily Chart. Source: TradingView ETH has been exceeding BTC today. It began the week by breaking the resistance at 0.04 BTC as it went on to penetrate above the 2020 highs(0.0405

BTC)and the 2019 highs(0.0416 BTC). The market continued throughout the week as it broke the 2021 high of 0.046 BTC the other day to reach 0.048 BTC. It has since dropped back

to the 0.046 BTC level. Looking ahead, the very first resistance lies at 0.048 BTC. This is followed by 0.05 BTC, 0.0516 BTC, 0.0523 BTC, and 0.0541 BTC (April 2018 Lows).

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On the other side, the first assistance below 0.046 BTC

lies at

0.045 BTC (.236 Fib). This is followed by 0.044 BTC, 0.0423 BTC(.382 Fib ), 0.0416 BTC (2019 High ), and 0.0405 BTC(2020 High). ETH/BTC Daily Chart. Source: TradingView Ripple XRP

saw a very sharp 33 %price decrease today as it is up to the present $1.10 level. The coin set a brand-new multi-year high at $1.98 a number of weeks earlier and has been in a stable decline

since. Today, XRP spiked beneath the $1.00 level to reach as low as $0.85. It has considering that rebounded from there to trade back above $1.00 and sit at the $1.10

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(.5 Fib) level. Looking ahead, the first assistance below$1.10

lies at$ 1.00. This is followed by $0.927(.618 Fib ),$0.828(2020 Highs),$0.75, and$ 0.678 (.786 Fib). On the other side, the first resistance lies at $1.20. This is followed by$ 1.25 (Feb 2018 highs),$1.28( bearish.382 Fib), and $1.42(bearish.5 Fib).

XRP/USD Daily Chart. Source: TradingView Against bitcoin,

XRP has actually also been in a constant decrease given that setting a new 2021 high at 3058 SAT a number of weeks back. Although it increased as low as 1800 SAT today, the coin rapidly recuperated back above 2000 SAT

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and is fighting to stay above the assistance at 2225 SAT (.382 Fib). Looking ahead, the very first assistance beneath

2225 SAT lies at 2155 SAT (drawback 1.272 Fib Extension ). This is followed by 2000 SAT(.5 Fib), 1900 SAT (July 20 lows), 1720 SAT(.618 Fib), and 1550 SAT( Nov 2020 lows ). On the other side, the first resistance lies at 2450 SAT (bearish.5 Fib). This is followed by 2600 SAT, 2877 SAT (bearish.618 Fib ), and 3059 SAT. XRP/BTC Daily Chart. Source: TradingView Cardano ADA also saw a severe 23% price drop today as it was up to the current $1.10 level. The cryptocurrency failed to break resistance at $1.50(1.618

Fib Extension )at the start of the week and has remained in a steady decrease from there. Today, ADA fell beneath a shallow rising rate channel

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as it increased as low as$0.9(.5 Fib). There, it rapidly found support at a. 5 Fib and rebounded back above$1.00 to the

current$1.10 level. Looking ahead, the first level of assistance lies at$ 1.05 (.382 Fib ). This is followed by$1.00, $0.905(.5 Fib ),$0.755(.618 Fib), and$ 0.7 (downside 1.272 Fib Extension). On the other side, the very first resistance lies at$1.20. This is followed by $1.40,$ 1.50, and$1.58(ATH rate). ADA/USD Daily Chart. Source: TradingView ADA & continues to trade inside an in proportion triangle pattern versus BTC. IT has been trapped inside this debt consolidation duration since the beginning of March and has actually been unable to break either boundary of the triangle in the two following months. Today, it did increase as low

as 1850 SAT however quickly recovered back above 2000 SAT to trade at the current 2200 SAT level. The market will need to break this triangle to dictate the next instructions. Moving forward, the very first assistance lies at 2060 SAT(

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.5 Fib & Lower boundary of the triangle). This is followed by 2000 SAT,

1792 SAT(.618 Fib), 1600 SAT,

and 1412 SAT (.786 Fib). On the other side, the very first resistance lies at 2330 SAT (upper limit of the triangle). This is followed by 2400 SAT, 2556 SAT, 270 SAT, and 3000 SAT. ADA/BTC Daily Chart. Source: TradingView Solana SOL is the only cryptocurrency on this list to see favorable price action after climbing by 28 % over the previous week. The cryptocurrency was trading underneath$25 at the beginning of the week as it began to

press higher. The other day, SOL managed to set a new ATH cost at $41 but quickly reversed from there today to reach the existing support at $34.40. The cryptocurrency is trading inside a rising rate channel, and a breakout beneath the price channel would determine an

end to the bullish cost run. Looking ahead, the very first support lies at $32. This is followed by $30.41 (.382 Fib), $28(the lower boundary of the cost channel), $26.92(.5 Fib ), and$23.42(.618 Fib). On the other side, the first resistance lies at$40. This is followed by $41(the upper limit of the price channel and

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ATH). Beyond the ATH prices, resistance lies at $ 44, $ 47.36, $ 59.75(1.272

Fib Extension), and $ 50. Included resistance lies at $ 53.95, $ 56, and $ 60. SOL/USD Daily Chart. Source: TradingView SOL Is also carrying out effectively versus bitcoin. It was trading around 0.0004 BTC at the start of the week as it began to press higher. Yesterday, it managed to set a brand-new ATH cost at 0.0008

BTC. More particularly, SOL could not close a day-to-day candle above the resistance at 0.000761 BTC (1.272 Fib Extension) and dropped lower from there to the current 0.000695 BTC level. Moving on, the very first support lies at 0.000667 BTC (.236 Fib). This is followed by 0.000585 BTC(.382 Fib),

0.0005 BTC, 0.000517 BTC (.5 Fib), and 0.00045 BTC(.618 Fib ). On the other side, the first resistance lies at 0.000761 BTC (1.272 Fib Extension). This is followed by 0.0008 BTC, 0.00082 BTC (1.414 Fib Extension), 0.00085 BTC, and 0.0009 BTC (1.618 Fib Extension).

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SOL/BTC Daily Chart. Source: TradingView