Cardano’s ADA Analysis – Support Levels in Play – 24/04/19

Cardano Crypto Currency Market

Cardano’s ADA Price Support

It’s been a particularly choppy start to the week for Cardano’s ADA. The latest swings come off the back of a 12.9 slide last week, which followed on from a 6.3% fall in the week prior.

A bullish start to the week saw Cardano’s ADA rally by 6.22% to reverse most of last week’s losses before hitting reverse. Outperforming the rest of the top 10 cryptos on Monday, a broad-based reversal on Tuesday weighed heavily.

The reversal saw Cardano’s ADA slide by 5.73% to $0.074262, wiping out most of Monday’s gains to resume the recent reversal that has been ongoing since a 3rd April high $0.103722.

Moves through the early part of the week saw Cardano’s ADA rise to a current week high $0.083694 on Tuesday.

Cardano’s ADA broke through the week’s first major resistance level at $0.08310 before sliding to a Tuesday low $0.071654.

In spite of the Tuesday sell-off, Cardano’s ADA steered clear of the week’s first major support level at $0.0685.

The extended bearish trend, formed at last May’s swing hi $0.38845, remained firmly intact. Cardano’s ADA continued to fall short of the 23.6% FIB Retracement Level of $0.1125, following December’s swing lo $0.02724.

In spite of the pullback since the current year high $0.103722, it’s been a particularly positive start to the year. Cardano’s ADA is up 77% year-to-date to the end of Tuesday.

For the bulls, a breakout from the 23.6% FIB of $0.1125 to test the 38.2% FIB of $0.1652 would be needed to form a near-term bullish trend.

At the time of writing, Cardano’s ADA was down by 0.11% to $0.074183.

ADA/USD 24/04/19 Weekly Chart

For the remainder of the week

A move back through $0.0770 levels would support a return to $0.080 levels later ahead of the weekend.

Support from the broader market would be needed, however, for Cardano’s ADA to take a run at the first major resistance level at $0.0831.

Following 3rd April’s high, a lack of a broad-based crypto rally would likely see Cardano’s ADA struggle at $0.080 levels.

In the event of a rebound, a breakthrough the first major resistance level would bring $0.090 levels into play going into the weekend.

Failure to move through to $0.0770 levels could see Cardano’s ADA struggle through the week. A pullback through the current week low $0.071654 would bring sub-$0.070 levels into play.

Barring a crypto meltdown, however, the first major support level at $0.0685 would likely limit the downside in the week.

In the event of a broad-based sell-off, Cardano’s ADA would likely steer clear of sub-$0.060 levels. The second major support level at $0.0628 would provide the necessary support.

Looking at the Technical Indicators

Major Support Level: $0.0685

Major Resistance Level: $0.0831

23.6% FIB Retracement Level: $0.1125

38.2% FIB Retracement Level: $0.1652

62% FIB Retracement Level: $0.2505

The Bitcoin Bulls Deliver $5,400. Next Up, $6,000…

Bitcoin symbol in blockchain technology and cryptocurrency concept. Abstract background 3d illustration.

Bitcoin was amongst the front runners at the start of the week.

Bitcoin gained 1.83% on Monday. Reversing a 0.34% loss from Sunday, Bitcoin ended the day at $5,417.8.

The bullish start to the week came off the back of a 2.5% rise in the week ending 21st April.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $5,276.5 before making a move. Steering clear of the first major support level at $5,261.93, Bitcoin rallied to a late afternoon intraday high $5,459.5.

The afternoon rally saw Bitcoin break through the first major resistance level at $5,374.93 and second major resistance level at $5,427.97 before easing back.

For the bulls, Monday’s gain was a 6th day in the green out of the last 7. Of greater significance was Bitcoin’s hold onto $5,400 levels by the day’s end.

It was Bitcoin’s highest end of day price since 18th November’s $5,659.5 and highest intraday since 19th November’s $5,659.5.

Elsewhere,

Across the top 10 cryptos, it was a mixed bag for the majors. Following an impressive run through the 2nd half of last week, Binance saw red, falling by 0.97%. Joining Binance was Litecoin, which fell by 0.44%.

For Binance, having made solid gains in recent weeks, some profit taking at the start of the week was in line with last week’s trend. Litecoin also suffered a similar fate, having been on the move since the turn of the year in anticipation of this year’s halving event.

Leading the way amongst the top 10 was Cardano’s ADA, which rallied by 6.22%. After a particularly bullish run since February, that led to a 2019 high $0.103722, it’s been bearish since. Cardano’s ADA had tumbled to $0.071 levels before finding support.

This Morning,

At the time of writing, Bitcoin was up by just 0.02% to $5,418.9. Recovering from an early morning low $5,387.5, Bitcoin moved to a morning high $5,433 before easing back.

Whilst leaving the major support and resistance levels untested, support at sub-$5,400 was key in the early hours.

Elsewhere, Cardano’s ADA continued its revival, up by 1.08% at the time of writing to lead the way amongst the majors.

It’s been a mixed start to the day, however, with Bitcoin Cash ABC, EOS and Stellar’s Lumen seeing minor losses. For the rest of the pack, the majors struggled for direction early on.

BTC/USD 23/04/19 Daily Chart

For the day ahead,

Bitcoin would need to hold onto $5,400 levels through the morning to support a run at the first major support level at $5,479.03.

Support from the broader market would be needed for a breakthrough Monday’s high $5,439.0, however. Barring a broad-based crypto rally, Bitcoin will likely struggle to break through to $5,500 levels.

In the event of a crypto breakout, Bitcoin could take a run at the second major resistance level at $5,540.27.

Failure to hold onto $5,400 levels could see Bitcoin struggle through the day. A pullback through the morning low $5,387.5 to $5,360 levels would bring the first major support level at $5,316.53 into play.

Barring a broad-based crypto sell-off, Bitcoin would likely steer clear of sub-$5,300 support levels on the day.

For the broader market, Bitcoin at $5,500 could fuel another broad-based rally…

Altcoins Weekly Analysis – ADA, BNB, and EOS – 21/04/19

Bitcoin coin on white keyboard

Cardano’s ADA

Cardano’s ADA fell by 8.33% in the week ending 20th April. Following on from a 7.8% slide from the previous week, Cardano’s ADA ended the day at $0.07668.

A choppy start to the week saw Cardano’s ADA rise to an intraweek high $0.085159 on Monday before hitting reverse.

Falling well short of the week’s first major resistance level at $0.0941, Cardano’s ADA fell to an intraday week low $0.075084 on Saturday.

In spite of the reversal, Cardano’s ADA held above the first major support level at $0.0745 to move back through to $0.080 levels on Saturday.

Following a first weekly loss in 8-weeks in the week ending 7th April, there were more losses. Cardano’s ADA saw red for 4 consecutive days in the week.

For the week ahead,

A move through to $0.0790 levels would be needed to bring $0.080 levels and the first major resistance level at $0.0829 into play.

Support from the broader market would be needed, however, for Cardano’s ADA to resume its upward trend.

Barring a broad-based crypto rally, Cardano’s ADA will likely fail to return to $0.090 levels. The second major resistance level at $0.0891 will likely cap any upside in the week.

Failure to move through to $0.0790 levels could see Cardano’s ADA continue the current reversal. A fall through last week’s low $0.075084 would bring the first major support level at $0.0745 into play.

Barring a crypto meltdown, Cardano’s ADA would likely steer clear of sub-$0.070 support levels in the week.

At the time of writing, Cardano’s ADA was up 1.63% to $0.077931.

ADA/USD 21/04/19 Weekly Chart

Binance

Binance rallied by 33.37 in the week ending 20th April. Reversing a 2.18% fall from the previous week, Binance ended the day at $25.10.

A relatively bullish start to the week saw Binance move back through $20.00 levels to test the first major resistance level at $20.51.

Following a range-bound middle of the week, Binance rallied to an intraweek high and new swing hi $25.83 on Saturday before easing back.

The breakout saw Binance break through the week’s major resistance levels. Moves through Saturday saw Binance fall back through the third major resistance level at $25.96 late in the day.

A start of a week intraweek low $18.616 saw Binance hold well above the first major support level at $16.74.

For the week ahead,

A hold onto $24 levels through the early part of the week would support further gains ahead of the weekend. A breakthrough last week’s high $25.83 would be needed to bring the first major resistance level at $27.83 into play.

Continued upward momentum mid-week could see Binance take a run at $30 levels before any pullback.

Failure to hold onto $24 levels could lead to a first weekly fall in 12 weeks. A pullback through $23.10 would bring the first major support level at $20.37 into play before any recovery.

Of greater significance would be a fall through the 23.6% FIB of $20.72, which would test the bulls.

Barring a broad-based crypto meltdown, Binance will likely steer well clear of sub-$20 support levels.

At the time of writing, Binance was down 1.45% to $24.73.

BNB/USD 21/04/19 Weekly Chart

EOS

EOS rose by 2.39% in the week ending 20th April. Reversing a 0.74% loss from the previous week, EOS ended the week at $5.47.

A relatively bullish start to the week saw EOS rise to an intraweek high $5.6602 on Monday before easing back.

Falling short of the week’s first major resistance level at $5.9114, EOS fell to an intraweek low $5.2175 on Monday.

Steering well clear of the week’s major support levels, EOS recovered to $5.60 levels and a range—bound 2nd half of the week.

A bearish end to the week led to a pullback to $5.4 levels to limit the gains for the week.

For the week ahead,

A hold above $5.45 levels through the early part of the week would support more upside in the week ahead. A break back through to last week’s high $5.66 would bring the first major resistance level at $5.681 into play.

Barring a broad-based crypto rally, EOS would likely come up short of $6.00 levels. The second major resistance level at $5.8919 would cap the upside in the week.

Failure to hold above $5.45 levels could see EOS slide back through the first major support level at $5.2383.

Barring a crypto meltdown, EOS would likely avoid a fall to sub-$5.00 levels. The second major support level at $5.0065 would limit the downside in the week.

At the time of writing, EOS was up by 0.26% to $5.4859.

EOS/USD 21/04/19 Weekly Chart

The Bulls Are Out as Bitcoin Eyes $5,400 Levels

Bitcoin 1

It was a mixed day for the broader market on Wednesday.

Bitcoin joined just a handful of the crypto majors in the green on the day.

Bitcoin gained 0.38% on Wednesday.  Following on from a 3.8% rally on Tuesday, Bitcoin ended the day at $5,254.5.

Relatively range-bound throughout the day, Bitcoin slipped from a mid-day intraday high $5,300 to an intraday low $5,206.8 before finding support.

Moves through the 2nd half of the day saw Bitcoin fall short of $5,300 levels. The day’s major support and resistance levels were left untested throughout the day.

Elsewhere

Across the top 10 cryptos, it was a mixed bag for the majors. Joining Bitcoin in the green were Ripple’s XRP, Stellar’s Lumen, and Ethereum. Ripple’s XRP led the way on the day, rallying by 3.14. While Stellar’s Lumen also found support, gaining 1.05%, Ethereum managed just a 0.1% increase.

On the other end of the board, Bitcoin Cash ABC saw the heaviest losses, sliding by 3.69%, with Litecoin ending the day with a 2.07% loss.

While Bitcoin Cash ABC saw red, Bitcoin Cash SV continued its merry way down into the abyss. News of crypto exchanges withdrawing Bitcoin Cash SV weighed further as the cryptomarket experienced yet again just how influential exchanges are on the performance of the majors.

This Morning,

At the time of writing, Bitcoin was up by 0.98% to $5,306.0. A bullish start to the day saw Bitcoin rise from a morning low $5,254.5 to a high $5,316.0. Steering clear of the major support levels, Bitcoin broke through the first major resistance level at $5,300.73 early on.

Across the broader market, it was a sea of green. Ethereum was leading the way at the time of writing, up by 3.6%. Litecoin and Stellar’s Lumen were not far behind with gains of 2.54% and 2.5%, whilst Bitcoin Cash ABC trailed.

BTC/USD 18/04/19 Daily Chart

For the day ahead,

A hold onto $5,300 levels through the morning would support another run at the second major resistance level at $5,346.97 later in the day.

Support from the broader market could see Bitcoin breakout from $3,550 levels to take a run at $5,400 levels later in the day.

Barring a broad-based crypto rally, however, Bitcoin will likely come up short of the second major resistance level at $5,346.97.

Failure to hold onto $5,300 levels could see Bitcoin hit reverse later in the day. A pullback through the $5,250 levels would bring the first major support level at $5,207.53 into play.

Barring a broad-based crypto reversal, Bitcoin will likely steer clear of sub-$5,200 levels on the day. In the event of a crypto sell-off, the second major support level at $5,160.57 could come into play before any recovery.

EOS Analysis – Resistance Levels in Play – 17/04/19

Bitcoin and Litecoin over dollar banknotes.

EOS Price Resistance

It’s been a choppy start to the week for EOS following last week’s 2.25 gain, which came off the back of a 29% rally in the week prior.

A bearish start to the week saw EOS fall by 4.77% on Monday to $5.34 levels before finding support.

Steering clear of the week’s first major support level at $5.11, EOS recovered to $5.55 levels on Tuesday. A 4.01% gain on the day was not enough to reverse Monday’s loss, however, or see EOS return to $6 levels struck in the week ending 14th April.

Moves through the early part of the week saw EOS fall well short of the week’s first major resistance level at $6.0856.

The extended bearish trend, formed at last May’s swing hi $23.039, remained firmly intact. EOS continued to fall short of the 23.6% FIB Retracement Level of $6.62, following December’s swing lo $1.55.

In spite of the mixed start to the week, it’s been a particularly positive start to the quarter, with EOS up 30.5% to the end of Tuesday.

For the bulls, a breakout from the 23.6% FIB of $6.62 to test the 38.2% FIB of $9.76 would be needed for a near-term bullish trend formation.

At the time of writing, EOS was down by 0.85% to $5.5067.

EOS/USD 17/04/19  Weekly Chart

For the remainder of the week

A move through to $5.59 levels would be needed for EOS to take a run at $6.00 levels later in the week. Support from the broader market would be needed, however, for EOS to breakout from current levels. Barring a crypto rally, EOS will likely come up short of $6.00 levels in the week. In the event of a breakout, however, EOS will likely break through the first major resistance level at $6.0856.

While last week’s high $6.0726 and the first major resistance level will pin EOS back, upward momentum across the broader markets would bring the second major resistance level at $6.5669 into play before any pullback.

Failure to move through $5.59 levels could see EOS resume the downward trend from the start of the week.

A fall through the current week low $5.2175 would bring the week’s first major support level at $5.11 into play.

Barring a broad-based crypto sell-off, EOS will likely steer clear of sub-$5.00 support levels through the week. In the event of a crypto meltdown, EOS will likely test the second major support level at $4.6157.

EOS will unlikely revisit April’s low $4.20 in the event of a reversal through the week.

Looking at the Technical Indicators

 

Major Support Level: $5.1100

Major Resistance Level: $6.0856

23.6% FIB Retracement Level: $6.62

38.2% FIB Retracement Level: $9.76

62% FIB Retracement Level: $14.82

Altcoins Weekly Analysis – ADA, BNB, and EOS – 14/04/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Cardano’s ADA

Cardano’s ADA fell by 7.8% in the week ending 13th April. Partially reversing a 24.18% surge from the previous week, Cardano’s ADA ended the week at $0.08365.

A positive start to the week saw Cardano’s ADA strike a Sunday intraweek high $0.095515 before hitting reverse. Falling short of the week’s major resistance levels, Cardano’s ADA slid to an intraweek low $0.07592. A broad-based crypto sell-off did the damage on Thursday, with Cardano’s ADA falling by 6.5% on the day.

Cardano’s ADA was able to steer clear of the major support levels, however, to move back through to $0.08 levels.

The relatively bearish week delivered Cardano’s ADA  with its first weekly loss in 8-weeks.

For the week ahead,

A move through $0.085 levels in the early part of the week would bring $0.090 levels back into play. Cardano’s ADA  would need support from the broader market, however, to take a run at the first major resistance level at $0.0941.

In the event of a broad-based crypto rebound, Cardano’s ADA would likely return to $0.10 levels before any pullback. We would expect the second major resistance level at $0.1046 to cap the upside in the week, however.

Failure to move through $0.085 to $0.090 levels could see Cardano’s ADA  take another hit in the week ahead.

A pullback through to $0.070 levels would bring the first major support level at $0.0745 into play before any recovery.

Barring another crypto sell-off, however, we would expect Cardano’s ADA to continue to avoid sub-$0.060 levels.

In the event of a meltdown, the second major support level at $0.0654 would likely limit the losses for the week.

At the time of writing, Cardano’s ADA was up 0.4% to $0.083983.

ADA/USD 14/04/19 Weekly Chart

Binance

Binance fell by 2.18% in the week ending 14th April. Partially reversing an 11.9% rally from the previous week, Binance ended the week at $18.82.

Bearish through most of the week, Binance fell from a start of a week intraweek high $20.11 to an intraweek low $16.34.

In spite of the sell-off through to a Thursday low, Binance left the major support and resistance levels untested. Finding support on Friday through to the end of Saturday, Binance managed to recover to $19 levels before easing back.

For the week ahead,

A hold above $18.5 levels in the early part of the week would support a return to positive ways. Support from the broader market would likely see Binance return to $19 levels before any pullback. Barring a broad-based crypto rebound, however, we would expect Binance to come up short of the first major resistance level at $20.51.

In the event of a crypto rally, we would expect the second major resistance level at $22.19 to cap the upside for the week.

Failure to hold above $18.5 levels could see Binance hit red for a 2nd consecutive week. A fall through the 23.6% FIB of $17.87 would likely bring the first major support level at $16.74 into play.

Barring a crypto meltdown, however, we would expect Binance to avoid a return to sub-$16 levels, last struck on 2nd April.

At the time of writing, Binance was up by just 0.08% to $18.84.

BNB/USD 14/04/19 Weekly Chart

EOS

EOS slipped by 0.74% in the week ending 14th April. Following a 27.45% rally from the previous week, EOS ended the week at $5.343.

A bullish first half of the week saw EOS rise to Wednesday intraweek high $6,0726 before sliding back. Falling short of the first major resistance level at $6.1932, EOS fell to a Thursday intraweek low $5.097.

In spite of the Thursday sell-off, EOS held above the major support level at $4.3576 to partially recover the week’s losses.

For the week ahead,

A move through to $5.50 levels in the early part of the week would support a positive week ahead. An early run at the first major resistance level at $5.9114 would bring $6.00 levels back into play before any pullback.

Barring a broad-based crypto rebound, however, we would expect EOS to fall short of the second major resistance level at $6.4798.

In the event of a rebound, a visit to $7.00 levels could be on the cards, though EOS will likely come up short of the third major resistance level at $7.46.

Failure to move through $5.50 levels could see EOS hit reverse. A pullback through last week’s low $5.097 would bring the first major support level at $4.94 into play.

Barring a broad-based crypto sell-off, however, EOS would likely steer clear of the second major support level at $4.53.

At the time of writing, EOS was up by 0.64% to $5.3772.

EOS/USD 14/04/19 Weekly Chart

The Crypto Bears Come Out of Hibernation

Crypto00 567

Bitcoin was amongst the majority of the cryptos that saw green mid-week. Reversing a 1.81% fall from Tuesday, Bitcoin gained 1.78% on Wednesday to end the day at $5,310.1.

Tracking the broader market through the day, Bitcoin rose to a late afternoon intraday high $5,488 before hitting reverse.

Bitcoin broke through the first major resistance level at $5,295.80 and second major resistance level at $5,375.3.

On the reverse, Bitcoin fell back through the major resistance levels to an intraday low $5,193.5. In spite of the reversal, Bitcoin held above the first major support level at $5,153.4, to move back through to $5,300 levels.

Elsewhere,

Across the top 10 cryptos, it was a mixed day for the majors. Cardano’s ADA led the way, rallying by 6.59%, with EOS not far behind, rising by 4.52%. Trailing the majors were Binance Coin and Ripple’s XRP. Binance Coin slid by 1.46%, while Ripple’s XRP managed to gain just 0.39%.

The moves came off the back of a bearish start to the week that partially reversed last week’s broad-based gains.

Wednesday’s broad-based rally led to the total market cap to a high $186.22bn before falling back. In spite of the increased volatility, cryptomarket volumes have eased back from $80bn levels to $50bn levels. The upward momentum across the broader market has seen more investors buy and hold, though this could change should the bears regain control.

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This Morning,

At the time of writing, Bitcoin was down 1.77% to $5,216.1. A bearish start to the day saw Bitcoin slide from a morning high $5,342.1 to a low $4,952.4 before finding support.

The reversal saw Bitcoin fall through the first major support level at $5,173.07 and second major support level at $5,036.03.

It was Bitcoin’s first visit to sub-$5,000 levels since 1st April. Of greater significance was sub-$5,000 support that drove Bitcoin back to $5,200 levels in the early hours.

Elsewhere, it was a sea of red across the crypto top 10. Bitcoin Cash ABC saw the biggest loss of the morning, down by 6.14% to $285 levels. Stellar’s Lumen and Ripple’s XRP were also deep in the red, down by 5.84% and 4.25% respectively.

Following Wednesday’s trend-bucking loss, Binance was the best performer of the morning, down by 2.83%.

The broad-based sell-off led the total market cap back down to $177.86bn at the time of writing. Bitcoin’s dominance moved through to $51.8%, reflecting the shift in sentiment in the early hours.

BTC/USD 11/04/19 Daily Chart

For the day ahead

Bitcoin will need to hold onto $5,200 levels through the morning to support a partial recovery of the morning losses. A move back through to $5,330 levels would be needed, however, for Bitcoin to take a run the first major resistance level at $5,467.57. Barring a broad-based crypto rebound, we would expect Bitcoin to come up short of $5,400 levels in the event of an afternoon recovery.

Failure to hold onto $5,200 levels could see Bitcoin slide back through the first major support level at $5,173. A pullback could see Bitcoin test sub-$5,000 support for a 2nd time before any recovery. Avoiding a return to sub-$5,100 levels this morning would be needed for the sell-off not to gather momentum.

Ethereum Analysis – Resistance Levels in Play – 10/04/19

Bitcoin coin on white keyboard

Ethereum Price Resistance

It’s been a choppy start to the week for Ethereum. Following last week’s 23.8% rally to $178 levels, Ethereum is up by 0.53%, Monday through Tuesday.

A particularly bullish start to the week saw Ethereum strike an early Monday morning current week high $187.62 before sliding back.

Coming up short of the week’s first major resistance level at $190.36, Ethereum slid to a Monday current week low $174.07.

Steering well clear of the week’s major support levels, Ethereum managed a return to $180 levels before falling back to $174 levels.

The bullish start to the week saw Ethereum gain 3.33% before sliding by 2.72% on Tuesday. In spite of the choppy week, Ethereum managed to break through to $180 levels for the first time since 18th November. Ethereum is up by 34.6% year-to-date, most of which came off the back of last week’s crypto rally.

While it’s been relatively bullish across the broader market, 18th November was when Ethereum was in mid-sell-off on the way to its December swing lo $80.6.

The extended bearish trend, formed at last May’s swing hi $828.97, remains firmly intact. Ethereum continues to fall well short of the 23.6% FIB Retracement Level of $257, following December’s swing lo $80.6.

The good news is that Ethereum has managed to make up significant ground since December’s swing lo. The bad news is that the lack of activity in the ICO market may test investor resilience down the track.

At the time of writing, Ethereum was up by 0.87% to $177.36. A relatively bullish start to the day saw Ethereum rise from a morning low $175.04 to a high $177.89. The day’s major support and resistance levels were left untested in the early hours.

ETH/USD 10/04/19 Weekly Chart

For the remainder of the week

A move back through to $180 levels mid-week would support another run the first major resistance level at $190.36. Support from the broader market would be needed, however, for Ethereum to break through this week’s high $187.62.

Barring a broad-based crypto rally, we expect Ethereum to struggle to break out from $180 levels going into the weekend.

Failure to move back through to $180 levels could see Ethereum give up gains from the early part of the week.

A slide back through the current week low $173.95 would bring sub-$170 levels into play. Barring a crypto meltdown, we would expect Ethereum to steer well clear of the first major support level at $149.07.

While a move back through to $180 levels would support a continuation of the Ethereum recovery, a slide through to $164 levels would signal a possible return to sub-$150s going into the weekend.

Looking at the Technical Indicators

Major Support Level: $149.07

Major Resistance Level: $190.36

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Crypto Bulls Give Up Ground, But Not By Enough To Sound the Alarm

Crypto00 567

Bitcoin was amongst the crypto few that saw green at the start of the week. Following last week’s 25.7% rally, Bitcoin gained 1.4% on Monday to end the day at $5312.4.

Tracking the broader market through the morning, Bitcoin struck an intraday high $5,373.9 before hitting reverse. Bitcoin broke through the first major resistance level at $5,348.07 before sliding to a mid-day intraday low $5,138.6.

Steering clear of the first major support level at $5,101.47, Bitcoin bounced back in the 2nd half of the day. The recovery saw Bitcoin break back through to $5,300 levels and hold onto $5,000 levels for a 4th consecutive day.

Elsewhere

Across the top 10 cryptos, it was a mixed day coming off the back of last week’s broad-based crypto rally.

Ethereum returned to winning ways on the day, rallying by 3.33% to lead the pack at the start of the week.

Joining Bitcoin and Ethereum was EOS, which managed a 1.68% rise on the day.

For the rest of the pack, it was deep red. Binance Coin saw the heaviest losses, sliding by 5.05%. The diverging moves between Ethereum and Binance Coin make sense when considering that the pair compete for fundraising projects.

For Bitcoin Cash ABC, Litecoin and Cardano’s ADA, profit taking would have contributed to the reversal on the day.

Bitcoin Cash ABC and Litecoin rallied by 91.7% and 52.3% in the week ending 7th April. Cardano’s ADA also found strong support, rallying by 28.2% to continue to hold a spot in the top 10. The week-long rally left Cardano’s ADA up 117% year-to-date.

On the news wires, reports of PayPal’s new fee structures will have given sidelined Bitcoin investors food for thought. While the cryptos are looking to do away with fees, PayPal has thrown in a structure that will be more punitive to those remitting smaller sums.

When viewing Litecoin and even Ripple’s XRP, the latest news appears to have had limited impact on the cryptomarket till now. But we can expect an influence should PayPal user numbers begin to dwindle and crypto adoption see a marked increase.

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This morning,

At the time of writing, Bitcoin was down by 0.56% to $5,282.8. Bearish through the first hour, Bitcoin fell from a morning high $5,312.4 to a low $5,273 before steadying.

The day’s major support and resistance levels were left untested early on.

Elsewhere across the top 10 cryptos, it was a sea of red. At the time of writing, EOS was leading the way down with a 1.81% fall. Binance Coin saw the most modest losses within the first hour, down by just 0.34%.

BTC/USD 09/04/19 Daily Chart

For the day ahead

A hold onto $5,270 levels through the morning would support a move back into positive territory later in the day. Following Monday’s gains, support from the broader market would be needed, however, for Bitcoin to take a run at Monday’s high $5,373.9. Barring a broad-based crypto rally, we would expect Bitcoin to come up short of the first major resistance level at $5,411.33.

Failure to hold onto $5,270 levels could see Bitcoin give up Monday’s gains. A pullback through to $5,220 levels would bring the first major support level at $5,176.03 into play. Barring a crypto meltdown, Bitcoin will likely avoid sub-$5,100 support levels on the day. In the event of a sell-off, the second major support level at $5,039.67 should prevent a slide to sub-$5,000 levels.

For the broader market, a slide back to $5,000 levels will likely weigh heavily.

Altcoins Weekly Analysis – ADA, EOS, and ETH – 07/04/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Cardano’s ADA

Cardano’s ADA surged by 24.18% in the week ending 7th April. Following on from a 13.58% gain the previous week, Cardano’s ADA ended the week at $0.090774.

A relatively range-bound start to the week saw Cardano’s ADA pullback to an intraweek low $0.06323.

Steering clear of the first major support level at $0.0622, Cardano’s ADA rallied to an intraday week high $0.103722. Support from the broader market kicked in, driving Cardano’s ADA through the week’s major resistance levels on Wednesday.

Through the 2nd half of the week, Cardano’s ADA eased back to sub-$0.10 levels. The pullback saw Cardano’s ADA fall through the third major resistance level at $0.1366 and second major resistance level at $0.0961.

The week’s rally gave Cardano’s ADA a 7th consecutive week in the green.

For the week ahead,

A hold above $0.0860 levels through the early part of the week would support another week in the green. A move back through $0.0950 levels would bring $0.10 levels and the first major resistance level at $0.1086 into play. Support from the broader market would be needed, however, for a breakout from $0.10 levels. Barring another crypto rally, we would expect Cardano’s ADA to fall short of the second major resistance level at $0.1264.

Failure to hold onto $0.0870 levels could see Cardano’s ADA take a hit in the week. Barring a broad-based crypto sell-off, however, we would expect Cardano’s ADA to avoid sub-$0.080 levels. In the event of a crypto sell-off, a pullback through to $0.070 levels would bring the first major support level at $0.0681 into play.

At the time of writing, Cardano’s ADA was down 0.27% to $0.090527.

ADA/USD 07/04/19 Weekly Chart

EOS

EOS jumped by 27.45% in the week ending 7th April. Following on from a 13.51% rise from the previous week, EOS ended the week at $5.377.

Bullish from the start of the week, EOS rallied from a Sunday intraweek low $4.1544 to a Wednesday intraweek high $5.99.

Steering well clear of the major support levels, EOS broke through the week’s major resistance levels before easing back.

A Thursday pullback saw EOS fall through the third major resistance level at $5.8075 and second major resistance level at $4.9555 before breaking back through to $5.00 levels to hit a weekend high $5.7639.

For the week ahead,

A move through to $5.50 would support a bullish run through the week ahead. Following 2 consecutive weeks in the green, however, support from the broader market would be needed for EOS to take a run at the first major resistance level at $6.19. In the event of a crypto rally, the second major resistance level at $7.01 would likely be in play. We would expect EOS to come up short of the third major resistance level at $8.85, however.

Failure to move through $5.50 could see EOS give up some of the previous week’s gains. A pullback through to $4.60 levels would bring the first major support level at $4.36 into play. Barring a crypto meltdown, however, we would expect EOS to avoid $3.0 levels and the second major support level at $3.34.

At the time of writing, EOS was up 0.13% to $5.3839.

EOS/USD 07/04/19 Weekly Chart

Ethereum

Ethereum rallied by 16.65% in the week ending 7th April. Following on from a 4.1% gain from the previous week, Ethereum ended the week at $165.79.

A bearish start to the week saw Ethereum pullback to a Monday intraweek low $138.81 before making a move.

Holding well above the first major support level at $133.35, Ethereum rallied to an intraweek high $180.1. A broad-based crypto rally on Tuesday and Wednesday delivered the upside for the week.

Ethereum broke through the week’s major resistance levels before sliding back to $150 levels on Thursday. The pullback saw Ethereum fall back through the third major resistance level at $169.09 and second major resistance level at $154.25.

Support from the broader market led to a move back through to $160 levels on Saturday.

For the week ahead,

A hold above $162 levels would support further gains through the week ahead. A move back through to $170 levels would bring last week’s high $180.1 into play. Support from the broader market would be needed for Ethereum to break through the first major resistance level at $184.32. Barring a broad-based crypto rally, we would expect Ethereum to fall short of $190 levels.

Failure to hold above $162 levels could see Ethereum hit reverse through the week. A pullback through to $154 levels would bring the first major support level at $143.03 into play. Barring a broad-based crypto sell-off, however, we would expect Ethereum to avoid sub-$140 support levels.

At the time of writing, Ethereum was down by 0.14% to $165.55.

ETH/USD 07/04/19 Weekly Chart