Bitcoin (BTC) has been rejected by a short-term Fibonacci resistance level.
Ethereum (ETH) hit a new all-time high on April 28th.
XRP (XRP) completed a fourth wave pullback while Cardano (ADA) completed an erratic flat correction.
Yearn.finance (YFI) has rallied in an important area of support.
The bZx protocol (BZRX) has broken out of a descending resistance line and has subsequently validated this as support.
Dash (DASH) trades in a range between $ 245 and $ 330.
BTC
BTC has been moving up since April 26th but was rejected on April 27th from the 0.5 fib retracement level (black) at $ 55,865.
Additionally, both the RSI and MACD have created bearish divergences.
The strongest area of support is at $ 51,350, which is the 0.5 fib retracement level of the entire up move and a horizontal area of support.
Fib retracement support levels of 0.382 and 0.618 should also act as minor support.
TradingView’s BTC chart
ETH
On April 28, ETH reached a new all-time high of USD 2,716. It has decreased slightly since then.
The wavenumber indicates that it is in subwave five (black) of wave three (orange). Therefore, the next most likely targets for the top of the move are at $ 2,874 and $ 3,280-3,350. The latter area is a confluence of two different Fib levels.
These targets are found using the 2.61 external Fib retracements and a Fib projection on subwaves 1-3.
For a longer-term analysis, click here.
TradingView’s ETH chart
TradingView’s ETH chartXRP
XRP has been moving down since it completed the third wave (orange) with a local high of $ 1.96 on April 14th.
On April 23, XRP rebounded to a low of $ 0.88 and likely completed a fourth pullback.
The most likely target for the top of the bullish move is at $ 2.72. This target was found using a Fib projection on waves 1-3.
XRP chart from TradingView
XRP chart from TradingViewTHERE IS
ADA has been down since April 14 when it hit an all-time high of $ 1.55.
The decline led to a local low of $ 0.92 on April 23. This possibly ended an erratic flat correction.
The token has since ricocheted off and has recaptured the $ 1.05 area as support.
The two most likely targets for the peak of the upside move are $ 1.83 and $ 2.38. Similar to ETH, this surge would take it to a new all-time high.
TradingView’s ADA chart
YFI
YFI has been moving down since April 19 after hitting an all-time high of $ 57,497. The decline put it in the $ 39,500 area and confirmed it as support.
Despite a bearish cross in the stochastic oscillator, the RSI and MACD are bullish.
The closest area of resistance is at $ 68,450.
TradingView’s YFI chart
BZRX
On March 30th, BZRX broke out of a descending resistance line. It hit a high of $ 1.04 on April 17th before falling again.
The decline brought them back to the previous descending resistance line and confirmed it as support. After that, BZRX retook the $ 0.65 area which is now likely to act as support. The entire movement may have been running flat correction.
A potential target for the top of the bullish move is $ 1.28.
BZRX chart from TradingView
HYPHEN
DASH has been moving down since April 17th. On April 23, it managed to rebound around the USD 245 area and confirmed it as support.
The jump was not essential, however.
It is currently trading in a range between $ 245 and $ 330.
Until it breaks out of this range, the direction of the trend cannot be determined.
TradingView DASH chart
Click here to view BeInCrypto’s previous Bitcoin (BTC) analysis.
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