BTC, ETH, XRP, BCH, IOTA, BAT, SXP – Technical Analysis For April 2

Bitcoin (BTC) has reclaimed the $59,400 area. It is attempting to validate it as support.

Ethereum (ETH) has broken out from a descending resistance line. It is very close to making a new all-time high price.

XRP (XRP) has also broken out from a descending resistance line and moves towards the closest resistance at $0.75. 

Bitcoin Cash (BCH) is attempting to move above the $590 resistance area.

IOTA (IOTA) has reclaimed the $1.50 resistance area and is moving upwards.

Basic Attention Token (BAT) is in the process of breaking out from an ascending triangle.

Swipe (SXP) has completed a running flat correction and could make a new all-time high.

Bitcoin (BTC)

On April 1st, BTC moved above the $59,400 area. It has been struggling to do this since March 17. 

Currently, it is in the process of validating the area as support. 

Short-term indicators are bullish. The MACD is gradually moving upwards, and the RSI has broken out from a descending resistance line. 

BTC is expected to gradually move towards a new all-time high price.

For a longer-term analysis, click here.

Ethereum (ETH)

ETH had been following a descending resistance line since Feb. 20, when it reached an all-time high price of $2036.

On March 31, it broke out from this resistance line. 

Technical indicators are bullish. Both the RSI & MACD are increasing. 

If ETH continues to increase, the token will find the next resistance area at $2500.

For the long-term movement, click here.

XRP (XRP)

XRP had been following a descending resistance line since Nov. 2020. 

After four unsuccessful attempts, XRP finally managed to move above it on March 31.

Technical indicators in the daily time-frame are bullish. 

Therefore, XRP is expected to increase towards the closest resistance area at $0.75 and potentially higher.

For a longer-term analysis, click here.

Bitcoin Cash (BCH)

BCH has lagged considerably in March, failing even to get close to its Feb. highs. 

However, on March 29, it moved above a descending resistance line in place since the highs in Feb. 

Afterward, the MACD gave a bullish reversal signal, and the Stochastic oscillator made a bullish cross. 

Furthermore, the RSI crossed above 50. 

Currently, BCH is approaching the $591 resistance level. The area is both the 0.5 Fib retracement of the previous decrease and a horizontal resistance area. 

If it manages to break out, the next resistance would be found at $775.

IOTA (IOTA)

On Feb. 20, IOTA reached a high of $1.50 and decreased immediately afterward. The next unsuccessful breakout attempt validated the $1.50 area as resistance. 

After purportedly breaking out on March 23, IOTA fell back below this area before reclaiming it once more. 

This is a very bullish development that indicates the price is likely to move upwards.

Both the RSI & MACD have generated hidden bullish divergence, a strong sign of trend continuation.

The wave count suggests that IOTA has just completed a running flat correction as part of wave four (white). 

The two most likely targets for the top of the movement is found at $2.25 and $2.90.

Basic Attention Token (BAT)

BAT has been increasing since March 25, following an ascending support line. 

Currently, it is making the third attempt at moving above the $2.20 area. This has created an ascending triangle, which is considered a bullish pattern.

Both the RSI & MACD are increasing, supporting the breakout possibility. 

A movement that travels the entire height of the pattern would take BAT to a new all-time high of $1.45.

Swipe (SXP)

Similar to IOTA, SXP has potentially completed a running flat correction.

In addition, both the MACD & RSI have turned bullish. 

If correct, this would take SXP well into a new all-time high price.

For BeInCrypto’s latest bitcoin (BTC) analysis, click here.

Disclaimer


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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