Google trends data shows that the searches related to ‘Bitcoin,’ ‘BTCUSD prices,’ ‘Bitcoin reward halving,’ ‘cryptocurrency,’ are over the roof recently. Much of this craze comes from the magical fortune stories going around before the upcoming Bitcoin halving in May.
The ‘rags to riches’ stories are particularly going around in many blogging websites presently. The last BTC reward halving took place in 2016 when Bitcoin was at a very nascent stage. But this time, it is different.
Bitcoin is not the only cryptocurrency to be walking the red carpet of fame and fandom. Other virtual currencies such as Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), BSV, Litecoin (LTC), Binance Coin (BNB), EOS, Tezos (XTZ), and XLM are gaining a lot of attention as well.
Bitcoin BTCUSD analysis and trade setup
Here’s the daily price chart for BTC.
- It can be observed that Bitcoin formed a rising wedge pattern, which is a Bearish pattern from March 16. Following the rising wedge, BTCUSD was expected to drop significantly.
- However, BTC did not drop as much. The formation of a hammer at the end of the downtrend turned things quickly for BTCUSD, as the prices began soaring up.
- AS of now, Bitcoin is moving in a horizontal zone. Breaking above the region with decent volumes could potentially push BTC to cross the $8,000 mark soon.
Trade setup for Ethereum ETHUSD
Let us take a look at the daily chart of ETHUSD.
- Ethereum seems to be the most bullish among the other major cryptocurrencies. ETHUSD is currently trading around $180.
- My last price analysis of Ethereum talked about ETHUSD shortly crossing the $193 mark. That article can be found here. ETH rose more than 9% in two trading sessions and touched $190.
Price analysis of Ripple XRP
The daily chart for XRPUSD:
- The chart shows that Ripple moved in a parallel uptrend before breaking out of the zone.
- XRPUSD fell below the $0.19 mark. This point is currently acting as the resistance.
- Ripple continues to be among the highest traded cryptocurrencies in the world.
Bitcoin Cash BCHUSD price analysis
Here’s the four-hour price chart for BCHUSD:
The price of BCH is on a downtrend. This comes amid the low volumes. It is currently in the range of $230.
BCH is currently facing strong resistance at $242. Overcoming this resistance would accelerate the further upside of BCHUSD.
BSVUSD technical analysis
Let us take a look at the daily chart:
BSV is on a solid uptrend. It has strong support at $145. On the upper end of the spectrum, the next significant resistance is at $256.
An escalation of demand could prosper the currency well past the $190 mark.
Litecoin technical analysis
The daily chart for LTCUSD:
- Litecoin’s cause of concern in the short term might be its decreasing volume.
- LTCUSD is currently trading at around $42, falling 0.69% below its previous close.
- The candles that LTC is forming, including the green ones, have a small body. This points to the absence of the bulls.
BNBUSD price and technical analysis
Let us take a look at the daily chart:
- Binance Coin is quite bullish in the longer term. The daily chart shows that BNB is on a clear uptrend.
- In the shorter term, however, BNBUSD is slightly bearish. The resistance is at $18.542, and the support is at $9.295.
Technical Analysis of EOSUSD
Daily chart for EOSUSD:
- EOS is currently at $2.675. Analysts predict that it could fall further below $2.5.
- The daily chart shows that EOSUSD is consolidating around this price range. It is at the 61.8% Fibonacci retracement level.
Analysis of Tezos XTZUSD
Here’s the daily chart for XTZ:
- The daily chart indicates that Tezos is on an uptrend since the beginning of this month. An improvement in investor sentiments has significantly helped in the prices moving upwards.
- It is currently trading around $2.2675. Some analysts predict XTZUSD could cross $3.00 soon.
XLMUSD price analysis
Let us take a look at the daily chart for XLM:
- So far, it has been an excellent day for XLMUSD. It rose by 7.1% over its previous close. The volume traded is 31.7 million, which is a significant statistic.
- It faces resistance at $0.05 and $0.07 levels. Volume has been on a decline this month, and that is a cause of concern.