RATE Group | Consolidation period starts as bulls and bears cancel each other out
87221
post-template-default,single,single-post,postid-87221,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Consolidation period starts as bulls and bears cancel each other out

02 May Consolidation period starts as bulls and bears cancel each other out

Posted at 07:29h in Bitcoin News by

  • RSI indicator in the BTC/USD daily chart is trending within the overbought zone.
  • The Fear and Greed Index has held steady at around 40 in the “Fear” zone.

Bitcoin, Ethereum, and Ripple bears took control this Thursday to correct this Wednesday’s bullish action. The price action of the coins look like this:

  • BTC/USD has gone up from $8,828.49 to $8,829.
  • ETH/USD has gone up from $212 to $212.40
  • XRP/USD has gone down from $0.2178 to $0.217.

Fear and Greed Index

fxsoriginal

Alternative.me’s fear and greed index has kept steady around 40, and the current market sentiment is still in the “fear” region. This indicates that there is still some upside potential for Bitcoin.

ETH/BTC daily chart

ETH/BTC daily chart

ETH/BTC has gone up from 0.0239 to 0.0241 but has failed to keep pace with the green Ichimoku cloud. Bulls must gather enough momentum to break past the 0.0243, the SMA 50 and 0.0248. On the downside, there are healthy support levels at 0.0239 and 0.0235. The MACD shows…

Source link

Tags:
, , , , ,