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Bitcoin Slightly Slips on Poor Coinbase Debut & Altcoins Trades Flat to Higher Side

By Research Team Thursday, Apr 15, 2021

    • 2.45pm ISTD1
    • High63648
    • Low62320
    • Close62737

BTC/USD is trading at $62658.8, 0.16% up since previous day close. The Bitcoin slid down to $62 levels after rallying to fresh highs of $64000 on Wednesday since the crypto currency exchange, Coinbase, showed a poor debut on NASDAQ. This led to selling in major digital assets. 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. Sideways trading may be seen further.

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Intra Day
Near Day

Technical Levels

R3 70120
R2 66528
R1 64580
Turnaround 62936
S1 60988
S2 59344
S3 55752
By Research Team Thursday, Apr 15, 2021

    • 3.05pm ISTD1
    • High1.8633
    • Low1.6819
    • Close1.7312

XRP/USD is trading at $1.7231, 0.18% down since previous day close.        The slight profit-booking can be seen in Ripple after surging to three-year highs above $1 & heading towards next level of $2. Globally, the higher chances of passing new U.S stimulus package & worsening Covid-19 situation in major countries with soft USD remains supportive for XRP/USD. On Wednesday, the disappointing listing of Coinbase, a crypto currency exchange at NASDAQ pushed down the Bitcoin & Altcoins to some extent. As seen in the chart, the XRP/USD seems to be trading strongly above the short term Moving Averages of period 10 & 20. Buying on corrective dips may be seen for the day in the pair XRP/USD with the possible target of $1.90-$1.98 levels.

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Intra Day
Near Day

Technical Levels

R3 2.588
R2 2.1816
R1 1.9912
Turnaround 1.7766
S1 1.5842
S2 1.3676
S3 0.96063

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