Bitcoin (BTC/USD) Analysis
Bitcoin regains as LUNA Foundation Guard adds another $100 million BTC to its wallet.
BTC has risen above $40,000 after LUNA Foundation Guard bought over $100 million Bitcoin. The rise in US tech stocks is also supportive of BTC at lower levels.
Intraday trend – Bearish
On the daily chart, the pair is trading below Tenken-Sen ($43,209), Kijun-sen ($43,726), and Ichimoku Kumo cloud ($39,953). BTC/USD hit an intraday low of $41,504 and is currently trading around $41,208.
Major support is seen at $39,000, any breach below this level confirms further weakness. A dip to $37,000 / $34,000 is possible.
The immediate resistance is around $42,700, any surge past targets $43,500 / $44,000 / $46,000 / $48,235.
A possible strategy could be sell on rallies around $42,700-800 with SL around $44,000 for TP of $39,980 / $37,000.
ETH/USD Daily Outlook
Ethereum’s price is holding above $3,000 as Bitcoin rebounds; it hit a low of $2,950 and is currently trading around $3,111.
On the daily chart, the pair is trading below Tenken-Sen ($3,252), Kijun-sen ($3,200), and above Ichimoku Kumo cloud ($2,792).
Major support is seen at $2,940 (100-day MA), any daily close below this level confirms the start of a minor bearish trend. A dip till $2,860 / $2,800 is possible.
The immediate resistance is seen around $3,160, any break above will take the pair to $3,200 / $3,310.
A possible option could be long above $3,160 with SL around $3,000 for TP of $4,000.
Intraday trend- Bearish
Key support- $0.70, $0.50
Key Resistance- $0.9125
XRP’s price recovered from a low of $0.680, any daily close below $0.680 confirms a minor bearish continuation. It is currently trading around $0.73139, short-term trend reversal only if it breaches $0.9200.
A possible strategy could be sell on rallies around $0.7500 with SL around $0.800 for a TP of $0.6000.
Intraday trend- Bearish
Key support- $0.95, $0.80
Key Resistance- $1.30
ADA/USD pauses its bearish trend and showed a minor pullback. Any breach above $1.035 confirms intraday bullishness. A jump to $1.20/$1.30 is possible; it is currently trading around $1.0080. Short-term trend reversal only if it breaks $1.57.
A possible option could be long around $0.95-0.96 with SL around $0.79 for a TP of $1.570/$2.
Bitcoin Support /Resistance
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