RATE Group | Cryptocurrency Price Analysis: Bitcoin, Ethereum, Ripple, and ChainLink
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Cryptocurrency Price Analysis: Bitcoin, Ethereum, Ripple, and ChainLink

22 Apr Cryptocurrency Price Analysis: Bitcoin, Ethereum, Ripple, and ChainLink

Posted at 02:38h in Cryptocurrency News by

  • Bitcoin saw a 2.44% price fall today as it straddles the $6,850 support.
  • Ethereum dropped by a total of 4% as it drops into $170.
  • Ripple fell by a total of 2.5% as it drops into $0.18.
  • ChainLink dropped by 4.2% as it reaches support at $3.40.

Bitcoin Price Analysis

BTC/USD – Daily CHART – SHORT TERM

BTC/USD. Source: TradingView

Market Overview

Bitcoin has seen an interesting week of trading as it rebounded from the support at $6,600 last week. The support here was provided by a rising trend line and was bolstered by a .236 Fib Retracement level. After rebounding, it went on to break above $7,000 but fell short at $7,200 this weekend which caused the coin to roll over again.

The cryptocurrency has since dropped beneath $7,000 and is now trading back at the support provided by the rising trend line.

Short term prediction: NEUTRAL

Bitcoin is considered neutral at the moment, however, if it drops beneath the support line and falls below $6,600, the market would be considered as…

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