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Bitcoin Surpasses $60K Mark & Strong Upside in Major Altcoins

By Research Team Monday, Apr 12, 2021

    • 3.43pm ISTD1
    • High61215
    • Low59385
    • Close59685

BTC/USD is trading at $60222.8, 0.36% up since previous day close. A strong rally can be seen in Bitcoin surpassing a major benchmark level of $60000 in the previous sessions amid uncertain market sentiments. Last week, the BTC/USD traded in tight consolidation phase indicating the chances of breakout on either side. The mayhem in Covid-19 situation in India, Europe & U.S; is resulting into lockdown phase which suppresses the equity markets & pushed up the BTC/USD. Earlier, the few U.S conglomerates started accepting Bitcoin as a term of payment following the Tesla’s move which poured in the liquidity Bitcoin. Strong buying on lower levels may be seen for the day in BTC/USD.

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Intra Day
Near Day

Technical Levels

R3 63065
R2 61404
R1 60481
Turnaround 59743
S1 58820
S2 58082
S3 56421
By Research Team Monday, Apr 12, 2021

    • 4.05pm ISTD1
    • High2200
    • Low2117
    • Close2127

ETH/USD is trading at $2156.55, 0.42% up since previous close. The bullishness continued to be seen in Ethereum since last two trading session; forming new highs above $2100 with increased number of trading volumes. The falling U.S bond yields & firmer USD makes the digital assets more expensive. The worsening Coronavirus situation in major countries drags down the global indices & pushes up the ETH/USD. The market will be looking forward to the U.S Biden’s infrastructural stimulus bill. As seen in the chart, the ETH/USD is trading above the Moving Averages & the RSI line is floating near major resistance level of 70. Buying on correction may be recommended in ETH/USD with the possible target of $2200.

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Intra Day
Near Day

Technical Levels

R3 2248
R2 2191
R1 2162
Turnaround 2134
S1 2105
S2 2077
S3 2021

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