Bitcoin, Ethereum and XRP Price Chart Analysis

After falling from just above 67,500 to lows near 15,000, Bitcoin has been largely flat for about 13 months, with a 77% peak-to-trough loss. Then all of a sudden there were buyers this week and prices rose again as if we had gone back in time after a long long vacation. Ethereum and most of the rest of the crowd have joined the upswing.

In typical market fashion, the movement is back when the sector’s biggest former stars are just starting to face music. After discovering problems with his cryptocurrency business, he left the Bahamas and now lives in his parents’ house near Stanford University.

“Maybe people end up in jail?” According to those familiar with the decentralized zeitgeist, it must mean the market bottom is definitely near. It’s like, “All the bad news is out,” and the old saw hit the stock market. Of course, it remains to be seen whether cryptocurrencies actually do, but here is the latest chart showing the new move.

Bitcoin

Bitcoin
daily chart It will be as follows.

In just a few days of trading, the world’s most popular cryptocurrency is above its 200-day moving average (red line) and well above its 50-day moving average (blue line). Beginning of an “uptrend”. Volume (greyish bar below price) is decent and nothing to write home about. The relative strength indicator (RSI, below the price chart) is in the “overbought” area.

Bitcoin weekly price chart It is here:

Looking at the longer timeframe, it’s not as exciting as the price has returned to the October/November resistance. Bitcoin remains below both key moving averages, not bullish, but the cryptocurrency Anything is possible.

ethereum

ethereum
daily chart It is here:

The difference between this and the Bitcoin chart is: The seller moved quickly to take advantage of Ethereum approaching his October/November resistance level of just over 1600. It’s already “overbought”.

ethereum weekly chart It will be as follows.

It has crossed the 200-week moving average that has been slowly rising. This move slows down the 50-week moving average, but only slightly.

here XRP daily chart

XRP
Also known as “Ripple:”

As the price begins to approach the November resistance area of ​​$0.41, enough sellers are again looking to lower the price. On the upside, XRP rises slightly above the 200-day moving average and quickly rises above the 50-day moving average. The relative strength indicator is not in the “overbought” range.

XRP weekly chart It will be as follows.

Prices are far from the lows, but nowhere near the September/October highs, and the 50-week MA is below the 200-week MA, which is typically not bullish.

That said, consider how important it is to remember that for all cryptocurrencies, half of all Bitcoin transactions can be fake, according to Forbes analysis.

It is not investment advice. For educational purposes only.