Crypto money markets have recently observed significant mobility. Especially XRP, Bitcoin (BTC) $118,440.21 And technical indicators on Ether (ETH) reveal the turning points that should be followed carefully in the near term for traders and investors.
XRP: Rise Signals
XRP’s performance stands out with an increase of 11 percent on a weekly basis. However, the price is still under the influence of the $ 3.65 -dollar ‘Tweezer Top’ formation, which is still present last month and informing the beginning of the fall trend. This structure shows that the market encounters strong sales pressure at the same point in both trials.
In order to sustain the rise tendency, the XRP needs to perform a permanent movement above $ 3.65. Otherwise, the preference of investors to receive profits may increase sales -oriented pressure. According to On-Chain indicators, it is stated that there are unprecedented profits in most of the assets of investors.
Alphractal Research Company, “XRP Net Uncunized Snow/Damage (NUPL) has increased to the highest level since the 2021 summit. In this case, investors have a high proportion of land; such surpluses can increase the risk of market distribution and price correction.”
Current support and resistance points also play an important role in determining the short -term trend of the market. Resistances are located at 3,38, 3.65 and $ 4,00, while the supports are at $ 2,99, 2.72 and 2.65 dollars.
Bitcoin: During the consolidation
Although the main trend on the Bitcoin side continues upwards, the latest price movements indicate a short -term correction and consolidation phase. The price of the price from the 50 -day simple moving average supports the power of this consolidation period.
In the technical analysis, the price breaking the current decrease channel in the upward direction will be approval for the continuation of the rise trend. In such a case, it may be possible to see new records. Otherwise, a possible decline below $ 111,965 may raise the risk of sales.
The main resistors in Bitcoin are 120,000, 122.056 and 123.181; Support points are located at 111.965, 104,562 and $ 100,000.
Ether: strong rise and new targets
Ether began to be traded at the price levels that he hasn’t been on. Finally, Ether, which was carried over $ 4,200, was a strong transition to the rising tendency to rise by going out of the symmetrical triangle since the end of 2021.
This breakage may indicate that markets enter a new and strong rise trend. Technically defined, this structure shows that Ether is likely to test the record levels of Ether’s record levels on $ 4,800 and above.
Important resistance points on the Ether side are 4,400, 4,875 and $ 5,000. As support, the levels of $ 4,000, 3,941 and $ 3.737 are taken into consideration.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
