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Ethereum & Ripple Forms Record High Levels Against Consolidation in Bitcoin

By Research Team Monday, Apr 5, 2021
ETH/USD

    • 3.12pm ISTD1
    • High2085
    • Low2001.93
    • Close2043.27

ETH/USD is trading at $2043.55, 0.03% down since previous close. The slight sideways momentum can be noticed in ETH post rally above $2000 levels last week. The rising U.S bond yields & strong USD raises the inflation concern; how-so-ever it increases the demand of digital assets. The market will be looking forward to the U.S Biden’s infrastructural stimulus plan & also, the result of FOMC Meeting Minutes will remain a key concern for ETH/USD. As seen in the chart, the ETH/USD is successfully crossed an upper converging trend-line & the RSI line is moving towards major resistance level of 70. This indicates a buying momentum on every corrective dips & hence, further upside may be recommended.

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CryptoCurrency

ETH/USD

Intra Day
Near Day

Technical Levels

R3 2258
R2 2155
R1 2116
Turnaround 2052
S1 2013
S2 1949
S3 1846
By Research Team Monday, Apr 5, 2021
XRP/USD

    • 3.30pm ISTD1
    • High0.7239
    • Low0.6102
    • Close0.7095

XRP/USD is trading at $0.7078, 0.43% up since previous day close. A strong breakout can be seen in Ripple amongst all other Altcoins; testing the benchmark level of $0.70 levels in starting of the week. The saturation of upward momentum in Bitcoin makes the Ripple more promising to invest in. Globally, the higher chances of passing new U.S stimulus package & progressive supply of Covid-19 vaccine may remain supportive for XRP/USD on long run. As seen in the chart, the XRP/USD seems to be trading strongly above the short term Moving Averages of period 10 & 20 & also, the RSI line is moving above the mid-level 50. Buying on corrective dips may be seen for the day in the pair XRP/USD with the next possible target of $0.7200 -$0.7300.

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CryptoCurrency

XRP/USD

Intra Day
Near Day

Technical Levels

R3 0.6946
R2 0.6478
R1 0.6321
Turnaround 0.601
S1 0.5853
S2 0.5542
S3 0.5074
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