It’s been a tough week in the cryptocurrency market as most of it is in the red. The big exception this week is THETA, which has skyrocketed and made it into the top 10.
Bitcoin
Bitcoin is down 8% overall in the last week of trading as the cryptocurrency is currently trading at $ 53,330. It tried to break the resistance at $ 60,000 last weekend but failed. As a result, it started going down on Sunday and broke below the rising trend line in March on Monday.
After that, Bitcoin began to decline over the course of the week. It initially held support at $ 53,500 but continued there on Wednesday to hit $ 51,540 (0.618 Fib). Bitcoin continued to drop below $ 51,540 yesterday but found solid support at the 50-day MA level (blue line).
Today, BTC rebounded from the 50-day MA and rose a total of 3.5% to its current level of $ 53,330.
Looking ahead, an initial resistance level of $ 55,000 is expected. This is followed by $ 57,700, $ 58,355, and $ 60,000. Above $ 60,000, the resistance is at $ 61,781 (ATH price), $ 62,900 (1,414 Fib Extension – red), and $ 64,283 (1,618 Fib Extension – red).
On the flip side, the first level of support is at $ 52,500. This is followed by $ 51,540 (0.618 Fib & 50-day MA), $ 50,000, and $ 47,720 (downward-1,618 Fib expansion).
BTC / USD Daily Chart. Source: TradingView
ether
Ethereum is also down a total of 8% over the past week of trading, as it is currently trading at $ 1637. The cryptocurrency tried to break the resistance at $ 1,875 last weekend but failed to break above it. It fell below the March support at $ 1,755 on Monday as it began to decline.
On Wednesday, ETH fell below the ascending trendline of 2021 and continued to decline until support was found at USD 1546 (0.618 Fib). From there it rebounded higher, reaching the current level of $ 1637.
Looking ahead, the first level of resistance is at $ 1652. It is followed by US $ 1700, 1755, 1800 and 1875.
On the other hand, initial support is at $ 1600. This is followed by $ 1546 (0.618 Fib), $ 41500, $ 1465, and $ 1425 (previous ATH price and 100-day EMA).
ETH / USD daily chart. Source: TradingView
Etheruem also battled Bitcoin this week. The cryptocurrency held support at 0.0305 BTC throughout the March period. However, on Wednesday, Ethereum broke below 0.03 BTC until it found lesser support at 0.0295 BTC (down 1.272 Fib Extension).
Thankfully, it recovered and closed the daily candle above 0.03 BTC. Today ETH is trading at 0.0307 BTC as the bulls seek a rebound.
Looking ahead, the first level of resistance is at 0.0318 BTC (highs in December 2020). This is followed by 0.032 BTC (200-day EMA), 0.0337 BTC (lows in March 2019) and 0.034 BTC.
On the other hand, the initial support is at 0.0305 BTC. This is followed by 0.03 BTC, 0.0295 BTC and 0.0295 BTC (February 2020 low).
ETH / BTC daily chart. Source: TradingView
Cardano
Cardano is down a tiny 1.7% over the past week as it is currently trading at $ 1.20. The coin was trading at $ 1.30 last week when it went down. ADA continued to decline over the course of the week until $ 1.07 (0.382 Fib) of support was noted on Wednesday. A rising trend line further supported this level.
ADA bounced back from there yesterday, increasing a total of 8.7% today, allowing the cryptocurrency to hit $ 1.20.
Looking ahead, the first level of resistance is at $ 1.30. This is followed by $ 1.37 (1.414 Fib Extension), 1.46 $ (1.414 Fib Extension), and $ 1.50. Additional resistance is expected at $ 1.62 (1.272 Fib Extension – red), $ 1.70 (1.414 Fib Extension – red) and $ 1.80.
On the flip side, the first level of support is at $ 1.10. This is followed by the rising trend line (around USD 1.07), USD 1.00 and USD 0.95 (0.5 Fib).
ADA / USD Daily Chart. Source: TradingView
Against Bitcoin, ADA is trading near the level it was last week. It had been down for the past seven days but was able to hold .618 Fib support around 2040 SAT on Wednesday. It has since bounced back from there yesterday, hitting 2200 SAT, and it continued to rise today to trade the current 2295 SAT resistance.
Looking ahead, the first resistance level above 2295 SAT is 2400 SAT. This is followed by 2455 SAT (HDC July 2018), 2600 SAT, 2645 SAT (bearish 0.618 Fib) and 2800 SAT.
On the other hand, the first level of support is at 2200 SAT. This is followed by 2040 SAT (.618 Fib), 1950 SAT (Downside 1.272 Fib Extension) and 1800 SAT.
ADA / BTC daily chart. Source: TradingView
Uniswap
UNI is down 7.5% for the past week of trading as it is currently trading at around $ 28.11. The cryptocurrency set a new ATH price of $ 36.77 earlier this week, but began to decline from there. UNI fell $ 30 on Wednesday and continued to decline until it found support at $ 25.30 (0.382 Fib). That level has been bolstered by a rising trendline that’s been in play since late January 2021.
It rebounded from that support today as it is now trading at $ 28.11.
Looking ahead, the first level of resistance is at $ 30. This is followed by $ 32.50, $ 35, $ 36.77 (ATH price), $ 39.50 (1.272 Fib extension), and $ 40.
On the other hand, the first level of support lies in the rising trend line. This is followed by $ 25.30 (0.382 Fib), $ 23, $ 21.78 (0.5 Fib), and $ 20.
UNI / USD Daily Chart. Source: TradingView
UNI is also trading against Bitcoin at the same price as last week. The cryptocurrency had risen from 0.000518 BTC at the beginning of the week to 0.00065 BTC on Tuesday. From then on, it began to drop lower as it fell back to the 0.000518 BTC support provided by a .5 fib retracement.
It rebounded from 0.000518 BTC today as it is trading at 0.000527 BTC.
Looking ahead, the first level of resistance is 0.00055 BTC. This is followed by 0.0006 BTC, 0.000625 BTC and 0.00065 BTC. Additional resistance is expected at 0.000688 BTC (ATH price), 0.0007 BTC and 0.00075 BTC.
On the other hand, the initial support is at 0.000518 BTC (0.5 Fib). This is followed by 0.0005 BTC, 0.000477 BTC (0.618 Fib), 0.00045 BTC and 0.00042 BTC (0.786 Fib).
UNI / BTC daily chart. Source: TradingView
Theta token
Theta Token is up a whopping 44% over the past week as it is currently trading at around $ 12.35. The cryptocurrency had risen from $ 8.00 at the beginning of the week when it began to rise. It managed to break above $ 10 on Tuesday and set a new ATH price of $ 14.94 on Wednesday.
It fell back into support at $ 10.25 (0.382 Fib) yesterday but has since bounced back to trade at the current level of $ 12.35.
Looking ahead, the first level of resistance is at $ 13.16. This is followed by $ 14, $ 14.95 (ATH), and $ 16. Additional resistance is at $ 17.31 (1.272 fib extension), $ 18.55 and $ 18.55 (1.414 fib extension), respectively.
On the flip side, the initial support is at $ 12. This is followed by $ 11, $ 10.25 (0.382 Fib), $ 10, and $ 8.80 (0.5 Fib).
THETA / USD daily chart. Source: TradingView
Theta also does very well against Bitcoin as it trades at 0.000231 BTC. The coin rose from 0.00014 BTC earlier in the week and was able to set a new ATH price of 0.000277 BTC on Wednesday.
It fell to 0.0002 BTC (0.382 Fib) yesterday but quickly rebounded and hit resistance around 0.000256 BTC. Today, THETA fell into support at 0.00023 BTC (.236 Fib), which is where it is currently trading.
Looking ahead, the first resistance is at 0.000256 BTC. This is followed by 0.000277 BTC (ATH), 0.0003 BTC and 0.000321 BTC (1.272 Fib Extension).
On the other hand, the initial support is at 0.00023 BTC (.236 Fib). This is followed by 0.00022 BTC, 0.00020 BTC (0.382 Fib) and 0.000177 BTC (0.5 Fib).
THETA / BTC daily chart. Source: TradingView
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