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Cryptocurrency Market Overview - 22 April 2021

Source: Wisebitcoin 2021-04-22

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  BTCUSDT

TECHNICAL VIEW 

 

 

btc april 22 2021

As could be clearly seen on the chart above that the pair is ranging between the short-term resistance level at 56337 and the support level at 53300. The direction of today is most likely to be determined by the breakout of one of the levels mentioned above. Based on this, we have two scenarios:

Bullish: A close above the level of 56337 might open the door for further upwards movement during the day that it might extend into the resistance level at 57500.

Bearish: A close below the level of 53300 might signal the presence of bears. Therefore, if this happens, we believe that it could push the pair downwards to reach 53000 followed by 51200.

 

Important Support and Resistance levels

Resistance Levels Support Levels
58000.00 53300.00
57500.00 53000.00
56337.00 51200.00

Recommended:

A breakout will clarify everything.

 

 

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  ETHUSDT

TECHNICAL VIEW 

 

 

eth april 22 2021

The bullish engulfing pattern remains in focus. The pair is heading upwards very sharply and we believe it will continue going upwards to reach 2500 followed by 2600. The bullish scenario is valid as long as the pair is trading above 2200. On the other hand, a close below the level of 2200, opens the door for further downwards movements during the day that it might reach 2055.

 

Important Support and Resistance levels

Resistance Levels Support Levels
2600.00 2280.00
2500.00 2200.00
2200.00 2055.00

Recommended:

We are bullish as long as the pair is trading above 2200.

 

 

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  XRPUSDT

TECHNICAL VIEW 

 

 

xrp april 22 2021

The chart above shows two scenarios based on the symmetrical triangle shown on the chart. We are facing a correction that might continue OR stop. The downside of the symmetrical triangle will determine if the correction will continue. So, a close below the downside of that pattern might signal the presence of bears then we might look for a rally to the downside that might extend into (0.618 fibo at 1.0305). On the other hand, a close above the upside of the pattern might open the door for further upward movement that it might reach 1.5000 followed by 1.6000 (Resumption of the uptrend).

 

Important Support and Resistance levels

Resistance Levels Support Levels
1.6000 1.2090
1.5000 1.0305
1.3948 1.0000

Recommended:

Waiting for the pattern to be DESTROYED.

Losses can exceed your deposits.