Cryptocurrency News Today: Bitcoin, Ethereum Stall After Recent Gains – Newsweek

Bitcoin (BTC/USD) AnalysisKey Highlights

Bitcoin is trading flat after hitting a multi-month high at $48,234. The crypto market gained momentum on positive news that Ukraine and Russia may make a deal soon. Markets will keep a close eye on talks between two countries for further direction.

Intraday trend - Bullish

On the daily chart, the pair is trading above Tenken-Sen ($44,567), Kijun-sen ($42,701), and Ichimoku Kumo cloud ($40,630). It hits an intraday high of $47,434 and is currently trading around $47,119.

Major support is seen at $44,990, any violation below this level confirms intraday bearishness. A dip till $44,000 / $43,500 / $42,500 / $41,700 is possible.

The immediate resistance is around $48,300, any surge past targets $50,000 / $52,000. Major bullishness can happen only if it breaks $52,000, a jump to $60,000 / $69,000 is likely.

RSI - Bullish

A possible strategy could be long on dips $46,000 with SL around $44,500 for TP of $52,000.

Ethereum's price has stalled near the psychological resistance point of $3,500. It hits a low of $3,333 yesterday and is currently trading around $3,402.10.

On the daily chart, the pair is trading above Tenken-Sen ($3,185), Kijun-sen ($2,964), and Ichimoku Kumo cloud ($2,797).

Major support is seen at $3,275, any violation below this level confirms intraday bearishness. A dip till $3,150 / $3,000 / $2,940 / $2,880 / $2,800 is possible.

The immediate resistance is around $3,500, any break above will take the pair to $3,512 / $4,000.

RSI - Bullish

A possible option could be long on dips around $3300 with SL around $3100 for TP of $4000.

Intraday trend - Bullish

Key support- $0.70, $0.50

Key Resistance- $0.9125

XRP's price downside is capped by 200-day EMA at the $0.8400 level. Any daily close above $0.9050 confirms a further bullish trend, it is currently trading around $0.86733. Short-term trend reversal only if it breaches $1.02 (23rd Dec high).

A possible option could be buy on dips around $0.8650 with SL around $0.80 for a TP of $1.02.

Intraday trend - Bullish

Key support- $0.95, $0.80

Key Resistance- $1.30

ADAUSD is consolidating in a narrow range between $1.1246 and $1.1628 for the past three days. Any breach above $1.3043 confirms further bullishness, it is currently trading at around $1.12121. Short-term trend reversal only if it breaks $1.57.

A possible strategy could be long around $1.180 with SL around $1.070 for a TP of $1.570.

Resistance

R1- $50000R2- $52000R3- $60000

Support

S1- $44990S2- $44500S3- $43500

Ethereum Support/Resistance

Resistance

R1- $3500R2- $4000R3- $4200

Support

S1- $3275S2- $3150S3- $3000

See more at the Newsweek Cryptocurrency Index:

The content of this article is for informational purposes only and does not constitute financial or investment advice. It's important to perform your own research and consider seeking advice from an independent financial professional before making any investment decisions.

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Cryptocurrency News Today: Bitcoin, Ethereum Stall After Recent Gains - Newsweek