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Crypto Shuttle News

Tag: Upsides

  • Bitcoin Regains Strength, Why 100 SMA Is The Key For More Upsides

    Bitcoin Regains Strength, Why 100 SMA Is The Key For More Upsides

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    Bitcoin started a fresh increase above $58,000 against the US Dollar. BTC traded close to $60,000 and is currently correcting gains.

    • Bitcoin started a fresh increase above the $58,000 and $58,500 levels.
    • The price is now trading above $58,000 and the 100 hourly simple moving average.
    • There was a break below a key bullish trend line with support near $58,550 on the hourly chart of the BTC/USD pair (data feed from Kraken).
    • The pair must remain above $57,500 and the 100 hourly SMA to start another increase.

    Bitcoin Price is Back above 100 SMA

    Bitcoin price was stable above the $57,000 level. BTC started a fresh increase and was able to clear the $58,000 resistance zone. There was also a break above the $58,500 level and the 100 hourly simple moving average.

    However, there was no test of the $60,000 resistance zone. A high was formed near $59,400 and the price is now correcting gains. There was a break below the $58,500 support level.

    Besides, there was a break below a key bullish trend line with support near $58,550 on the hourly chart of the BTC/USD pair. The pair traded below the 23.6% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high.

    An immediate support is near the $58,200 level. The first major support is now forming near the $57,650 level. It is close to the 50% Fib retracement level of the upward move from the $55,909 swing low to $59,400 high.

    Bitcoin Price

    Source: BTCUSD on TradingView.com

    The next major support is near the $57,500 level and the 100 hourly SMA, below which the price could resume its decline towards the main breakdown support at $55,500.

    Fresh Increase In BTC?

    If bitcoin stays above the $57,500 support and the 100 hourly SMA, it could start a fresh increase. On the upside, an initial resistance is near the $59,000 level.

    The next key resistance is near the $59,500 level. A close above the $59,000 and $59,500 levels may possibly push the price above $60,000. The next major resistance sits near the $61,200 level.

    Technical indicators:

    Hourly MACD – The MACD is now gaining pace in the bullish zone.

    Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is declining towards the 50 level.

    Major Support Levels – $57,650, followed by $57,500.

    Major Resistance Levels – $59,000, $59,500 and $60,000.

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  • Ethereum Gains Momentum, Why Bulls Could Aim More Upsides

    Ethereum Gains Momentum, Why Bulls Could Aim More Upsides

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    Ethereum started a fresh increase above $4,200 against the US Dollar. ETH could gain pace if there is a clear  break above $4,250 in the near term.

    • Ethereum was able to climb above the $4,150 and $4,200 resistance levels.
    • The price is now trading above $4,120 and the 100 hourly simple moving average.
    • There is a key bullish trend line forming with support near $4,180 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair could start a fresh increase if it clears the $4,250 and $4,260 resistance levels.

    Ethereum Price Could Rise Further

    Ethereum started a from increase from the $4,000 support zone. ETH was able to clear the $4,120 resistance zone and the 100 hourly simple moving average.

    Ether price even traded above the $4,200 resistance zone. A high was formed near $4,253 and the price is now correcting lower. It traded below the $4,220 level. An immediate support is near the $4,180 level. The stated level is near the 23.6% Fib retracement level of the upward move from the $3,965 swing low to $4,253 high.

    There is also a key bullish trend line forming with support near $4,180 on the hourly chart of ETH/USD. An immediate resistance on the upside is near the $4,240 level.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    The next major resistance is near the $4,260 level, above which the price might start a fresh rally. In the stated case, the price might rise towards the $4,320 level. Any more gains could lead the price towards the $4,500 level.

    Dips Supported in ETH?

    If ethereum fails to continue higher above the $4,240 and $4,260 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $4,180 level and the trend line.

    A break below the trend line could push the price towards the $4,100 support level. It is close to the 50% Fib retracement level of the upward move from the $3,965 swing low to $4,253 high. The main support is near the $4,080 level and the 100 hourly SMA. Any more downsides could lead the price towards the $3,950 support.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is losing pace in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is now above the 50 level.

    Major Support Level – $4,180

    Major Resistance Level – $4,260

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  • Ethereum Regains Strength, Why $3,200 Is The Key For More Upsides

    Ethereum Regains Strength, Why $3,200 Is The Key For More Upsides

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    Ethereum started a steady increase above $3,000 against the US Dollar. ETH price must clear the $3,200 to continue higher in the near term.

    • Ethereum started a strong increase from the $2,750 support zone.
    • The price is now trading above $3,000 and near the 100 hourly simple moving average.
    • There was a break a major declining channel with resistance near $2,925 on the hourly chart of ETH/USD (data feed via Kraken).
    • The pair must surpass $3,175 and $3,200 to continue higher in the near term.

    Ethereum Price Is Gaining Momentum

    Ethereum found a strong support near $2,750 and started a fresh increase, similar to bitcoin. ETH broke the $2,880 and $2,950 resistance levels to move into a positive zone.

    There was also a break a major declining channel with resistance near $2,925 on the hourly chart of ETH/USD. The pair settled above the $3,000 zone and near the 100 hourly simple moving average. It gained traction and climbed above the $3,100 level.

    Ether price is now facing resistance near the $3,175 zone. It traded as high as $3,165 and is currently correcting lower. An immediate support sits near the $3,065 level. It is near the 23.6% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high.

    Ethereum Price

    Source: ETHUSD on TradingView.com

    On the upside, an immediate resistance on the upside is near the $3,165 level. The first major resistance is near the $3,175 level. The main breakout zone could be near the $3,200 zone. A close above the $3,200 resistance could push the price further higher. In the stated case, the price could rise towards $3,320.

    Dips Supported in ETH?

    If ethereum fails to continue higher above the $3,165 and $3,200 resistance levels, it could start a downside correction. An initial support on the downside is near the $3,065 level.

    The next major support seems to be forming near the $3,000 level and the 100 hourly simple moving average. Any more losses might call for a test of the 50% Fib retracement level of the upward move from the $2,740 swing low to $3,165 high at $2,950. If ether fails to stay above $2,950, it could resume its decline in the near term.

    Technical Indicators

    Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bullish zone.

    Hourly RSI – The RSI for ETH/USD is now well above the 50 level.

    Major Support Level – $3,065

    Major Resistance Level – $3,175

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