Bitcoin (BTC) has been rejected by a short-term Fibonacci resistance level.
Ethereum (ETH) reached a new all-time high price on April 28.
Yearn.finance (YFI) has bounced at an important support area.
bZx Protocol (BZRX) has broken out from a descending resistance line and validated it as support afterwards.
Dash (DASH) is trading in a range between $245 and $330.
BTC has been moving upwards since April 26. However, it was rejected by the 0.5 Fib retracement level (black) at $55,865 on April 27.
In addition, both the RSI and MACD have generated bearish divergences.
The strongest support area is found at $51,350, which is the 0.5 Fib retracement level of the entire upward movement and a horizontal support area.
The 0.382 and 0.618 Fib retracement support levels are also likely to act as minor supports.
On April 28, ETH reached a new all-time high of $,2716. It has decreased slightly since.
The wave count suggests that it’s in sub-wave five (black) of wave three (orange). Therefore, the most next likely targets for the top of the movement are found at $2,874 and $3280-$3350. The latter range is a confluence of two different Fib levels.
These targets are found using the 2.61 external Fib retracements and a fib projection on sub-waves 1-3.
For a longer-term analysis, click here.
XRP has been moving downwards since it completed wave three (orange) with a local high of $1.96 on April 14.
On April 23, XRP bounced at a low of $0.88, likely completing a fourth wave pullback.
The most likely target for the top of the upward movement is located at $2.72. This target was found using a fib projection on waves 1-3.
ADA has been decreasing since April 14, when it reached an all-time high price of $1.55.
The drop took it to a local low of $0.92 on April 23. This potentially completed an irregular flat correction.
The token has been bouncing since and has reclaimed the $1.05 area as support.
The two most likely targets for the top of the upward movement are found at $1.83 and $2.38. Similar to ETH, this increase would take it to a new all-time high price.
YFI has been moving downwards since April 19 after reaching an all-time high price of $57,497. The drop took it to the $39,500 area, validating it as support.
Despite a bearish cross in the Stochastic oscillator, the RSI and MACD are bullish.
The next closest resistance area is found at $68,450.
On March 30, BZRX broke out from a descending resistance line. It proceeded to reach a high of $1.04 on April 17 before decreasing.
The drop took it back to the previous descending resistance line, validating it as support. Afterward, BZRX reclaimed the $0.65 area, which is now likely to act as support. The entire movement potentially completed a running flat correction.
A potential target for the top of the upward movement is found at $1.28.
DASH has been moving downwards since April 17. On April 23, it managed to bounce at the $245 area, validating it as support.
However, the bounce has not been substantial.
Currently, it’s trading inside a range between $245 and $330.
Until it breaks out/down from this range, the direction of the trend cannot be determined.