BTC, ETH, XRP, BCH, IOTA, BAT, SXP – Technical Analysis For April 2
3 min readTable of Contents
BTC (BTC) has reclaimed the $59,400 area. It is attempting to validate it as support.
ETH (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.
BTC 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.
BTC (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.
ETH (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.
BTC 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 BTC (BTC) analysis, click here.
The post BTC, ETH, XRP, BCH, IOTA, BAT, SXP – Technical Analysis For April 2 appeared first on BeInCrypto.
