RATE Group | Major cryptos trade in tight ranges on Saturday
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Major cryptos trade in tight ranges on Saturday

04 Apr Major cryptos trade in tight ranges on Saturday

Posted at 17:33h in Cryptocurrency News by

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  • Bitcoin stays below $7,000 after renewing multi-week highs on Thursday.
  • Ethereum struggles to find direction, trades in upper half of trading range.
  • Ripple posts modest gains after closing previous five days in positive territory.

Major cryptocurrencies are staying relatively quiet on Saturday and struggle to break out of their daily trading ranges amid a lack of significant catalysts. 

Top-three coins price overview

Bitcoin (BTC/USD) climbed to its highest level since March 13th at $7,250 on Thursday but lost its momentum as the Fibonacci 61.8% retracement of the mid-March fall formed a stiff resistance at that level. After closing the day little changed on Friday, the pair continues to move sideways below $7,000 on Saturday. On the downside, $6,600 (Fibonacci 50% retracement) aligns as the initial support ahead of $6,250 (20-day SMA) and $6,000 (Fibonacci 38.2% retracement/psychological level). Resistances, on the other hand, could be seen at $7,250,…

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