Bitcoin, Ethereum, Stellar: Price Analysis April 25

25/04/2019 - huy
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BTC/USD

 

Bitcoin (BTC) is currently facing some resistance close to $5,600. However, both the moving averages are trending up and the RSI is still close to overbought levels. This shows that the bulls are in charge. On the upside, a breakout of $5,600 can propel the price to the next critical zone of $5,674.84–$5,900. We anticipate the bears to defend this zone. Hence, traders can book partial profits on their remaining long positions above $5,600 and keep the stop loss on the rest at $4,800.

 

 
Conversely, if the bears sink the BTC/USD pair below the 20-day EMA, it can slide to the next support at $4,914.11. This is a critical support, which might hold. A breakdown of this level will hurt sentiment as it will weaken momentum and indicate that the bears are still shorting at higher levels. If the bulls fail to defend $4,914.11, the digital currency can dip to the 50-day SMA. The next few days are critical as it will determine whether the recovery is over or if this is only a shakeout.

 

ETH/USD

 

Ethereum (ETH) again reversed direction from the overhead resistance at $180 on April 23. The price has broken down of the 20-day EMA and has re-entered the triangle, which is a bearish sign. This shows that the breakout from the triangle did not find any buyers at higher levels.

 

 
If the bulls fail to push the price back above $167.32 within the next couple of days, the ETH/USD pair can drop to the 50-day SMA. A break of this support can sink the pair to $144.78. Hence, traders can retain the stop loss on the remaining long positions at $150. We would have suggested closing the entire position but the moving averages are still sloping up and the RSI is at the midpoint, which shows that the bulls are still in the game.

 

If the bulls quickly push the price back above $167.32, it will again try to break out of the overhead resistance zone of $180–$187.98. It will pick up momentum above $187.98.

 

XLM/USD

 

Stellar (XLM) has broken down of the 50-day EMA and the immediate support of $0.1090. It is currently trying to find some support at the uptrend line. The 20-day EMA is starting to turn down and the RSI has dived below 50. This shows that the bears have the upper hand.

 

 
If the bulls defend the uptrend line, the XLM/USD pair might attempt to bounce back above the moving averages. If the price ascends the moving averages, it will then face resistance at the downtrend line.

 

On the other hand, if the bears sink the pair below the uptrend line, it will become negative and can slide to $0.08.
 
 
According to Cointelegraph
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