Bitcoin Rally Follows U.S. Stock Surge: Today’s Cryptocurrency News

Bitcoin (BTC/USD), Evaluation
Bitcoin’s price is soaring, as US stocks are a good example

Key Highlights
BTC has confirmed a big recovery following in the footsteps of US stocks, reaching a three-month high and holding well above crucial resistance at $45,800. It is going through a hurdle near the 200-day MA (48,295).

Technical Evaluation
Intraday development – Bullish

The pair is trading above the Tenken-sen (44,375), Kijunsen (42,701) and Ichimoku Kumo clouds ($39,957) on the daily chart. It reached an intraday high of $47.687, and is currently trading around $47.687.

Any violation below this level confirms intraday bearishness. A dip until $44,000/$43,500/$42,500/$41,700 is probably going.

Any surge beyond that will target $50,000/$52,000. The main bullishness is possible if it breaks $52,000. A push to $60/$69,000 will likely follow.

RSI – Bullish

Long on Dips at $45,000 and SL around $43,500 could be a good technique.

Day-by-day outlook for ETH/USD
Key Highlights
Glossary of Cryptocurrency TermsRead more
Cryptocurrency buying and selling glossary

Ethereum is continuing to trade higher and has reached a multi-month high. It hit an intraday maximum of $3,425 at the moment it’s trading around $3,418.

On the daily chart, the pair is buying or selling above Tenken sen ($3,128) and Kijun sen ($2,941) and Ichimoku Kumo clouds ($2,789).

Any violation below this level confirms intraday negative trend. A dip until $3,150/$3,000/$2,940/$2,880/$2,800.

Any break above could take the pair up to $3.512/$4,000.

RSI – Bullish

Long on Dips around $3,200 and SL around $3,000 could be a good choice for TP of $400.

XRP/USD Forecast
Intraday development – Bullish

Key Assist – $0.70 or $0.50

Key Resistance – $0.865 (12th March 2022).

XRP has declined slightly after a small jump above the 200-day MA. Any daily close above $0.9050 confirms a continuation of bullish trend. It is currently trading around $0.84111. Short-term growth reversal if it breaks $1.02 (twenty-third Dec high).

One possible technique is to buy on dips around $0.8650, with SL at $0.80 and TP of $1.02.

ADA/USD Outlook
Intraday development – Bullish

Key Support – $0.95 and $0.80

Key Resistance- $1.30

ADA/USD has broken through a crucial resistance level of $1.20 following a long consolidation. Any breach above $1.2650 will confirm additional bullishness. At the moment, it’s buying and selling around $1.2172. Short-term development reverses if it breaks $1.57.

One possible technique is to use a SL of $1.070 and a rounding round $1.180 for TP $1.570.

Bitcoin Resistance / Assist
Resistance

R1- $50,000
R2- $52,000
R3- $60,000

S1- $44,500
S2- $43,500
S3- $42,500

Ethereum Assist/Resistance

R1- $3,500
R2- $4,000
R3- $4,200

S1- $3,275
S2- $3,150
S3- $3,000

Newsweek Cryptocurrency Index – See more:

This text is only for informative purposes and does not represent financial or investment recommendation. Before making any investment decisions, it is important to do your own analysis and consider seeking advice from an independent financial professional.


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