Bitcoin (BTC) has bounced at the $30,000 support area.
Ethereum (ETH) has completed a fourth wave pullback.
XRP (XRP) has bounced at the 2,200 satoshi support area.
Litecoin (LTC) has bounced after completing a bearish impulse.
Verge (XVG) is trading in a range between $0.018 and $0.042.
DIA (DIA) is potentially following an ascending support line.
Theta Fuel (TFUEL) is trading inside a descending parallel channel.
BTC
BTC has been increasing since May 19, when it reached a low of $30,000. On May 23 and 24, it created a higher low and a bullish engulfing candlestick.
The two main resistance levels are found at $41,200 and $48,150. These targets are the 0.382 and 0.618 Fib retracement levels.
Technical indicators are showing some bullish signs. The MACD has given a bullish reversal signal, and the RSI is increasing after generating a bullish divergence.
Both these signs signal a potential bullish trend reversal.
ETH/BTC
On May 14, the long-term ₿0.084 resistance area rejected ETH/BTC, initiating a downward movement. The decrease continued until May 23, ending with a low of ₿0.053.
ETH/BTC has been increasing since.
The drop potentially completed a fourth wave pullback. It validated the resistance line of a parallel ascending channel from which it broke out from. In addition, it validated the 0.5 Fib retracement level.
While technical indicators are neutral, the price action seems bullish.
Therefore, it’s likely that the token eventually breaks out above the ₿0.084 area.
XRP/BTC
XRP/BTC has been decreasing since May 19, when it reached a high of 3,909 satoshis.
The downward movement continued until a low of 2,014 sats was reached on May 23. XRP/BTC has been moving upwards since.
The main support area is found at 2,200 satoshis. Since April, there have been two deviations (red circles) below this area, which have led to upward movements.
The main resistance area is found at 3,000 satoshis. A breakout from this level would be required for the trend to be considered bullish.
The MACD and RSI support this upward move (green icons).
LTC
LTC has been moving downwards since May 10, when it reached a high of $413.50. The downward move looks impulsive.
However, the price bounced on May 23 and has been increasing since.
The 0.382 and 0.5 Fib retracement levels create the main resistance zones. These are found at $230 and $265, respectively.
XVG
XVG has been decreasing since reaching a high of $0.084 on May 7. The drop has been sharp, amounting to 80% in 16 days.
The decrease has taken it back to the $0.018 support area that it broke out from in December 2020 and initiated a bounce.
The main resistance area is found at $0.042. XVG will likely consolidate between these two levels.
DIA
DIA has been decreasing since reaching a high of $5.80 on May 5. It reached a local low of $1.25 on May 23.
This served to validate an ascending support line for the fourth time. The line has been in place since October 2020.
There are resistance levels at $3 and $3.53.
TFUEL
TFUEL has been trading inside a descending parallel channel since March 24. It bounced at the support line of the channel on May 19 and has been moving upwards since.
Both the RSI and MACD have generated bullish divergences. TFUEL has reclaimed the $0.022 area and validated it as support.
TFUEL is now approaching the resistance line of the channel, from which it’s likely to overtake.
For BeInCrypto’s latest bitcoin (BTC) analysis, click here.
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