Cryptocurrency News Today: Ethereum Outperforms Bitcoin After Jobs Data

Bitcoin (BTC/USD) Analysis

Key Highlights

BTC traded flat between $47,458 and $45,565 for the past three days. The pair faced some downside pressure after upbeat US jobs data. It is struggling to close above the 200-day MA.

Technical Analysis

Intraday trend - Bearish

On the daily chart, BTCUSD is trading above Tenken-Sen ($46,167), Kijun-sen ($42,900), and Ichimoku Kumo cloud ($40,539). It hits an intraday low of $45,773 and is currently trading around $45,974.

Major support is seen at $44,000, any breach below this level confirms further weakness. A dip till $44,000 / $42,900 / $42,500 / $41,700 is likely.

The immediate resistance is around $48,300, any surge past targets $50,000 / $52,000.

RSI- Bearish

A possible strategy could be long on dips around $45,000 with SL around $43,500 for TP of $52,000 / $55,000.

ETHUSD Daily Outlook

Key Highlights

The Ethereum price outperformed Bitcoin by surging more than 9 percent in the past three days. It hits a high of $3,583 and is currently trading around $3,497.

On the daily chart, the pair is trading above Tenken-Sen ($3,333), Kijun-sen ($3,037), and Ichimoku Kumo cloud ($2,759).

Major support is seen at $3,400, any violation below this level confirms the start of a minor bearish trend. A dip till $3,275 / $3,150 / $3,000 / $2,940 / $2,880 / $2,800 is possible.

The immediate resistance is around $3,600, any break above will take the pair to $4,000 / $4,500.

RSI- Bearish

A possible option could be long on dips around $3,400 with SL around $3,200 for TP of $4,000.

Cryptocurrency chart apr4
Cryptocurrency chart for April 4. BTC, ETH, XRP, ADA TradingView

XRP/USD Outlook

Intraday trend- Neutral

Key support- $0.70, $0.50

Key Resistance- $0.9125

XRP's price consolidates in a narrow range of $0.8523 and 0.80665 for the past three days. Any daily close above $0.84064 confirms a minor bullish trend, it is currently trading around $0.82883. Short-term trend reversal only if it breaches $1.02 (23 rdDec high).

A possible strategy could be to buy above $0.9050 with SL around $0.8600 for a TP of $1.02.

ADA/USD Outlook

Intraday trend- Bullish

Key support- $0.95, $0.80

Key Resistance- $1.30

ADAUSD trades higher following the footsteps of Ethereum. Any breach above $1.3043 confirms further bullishness, it is currently trading at around $1.2157. Short-term trend reversal only if it breaks $1.57.

A possible strategy could be long around $1.20 with SL around $1 for a TP of $1.570 / $2.

Bitcoin Support / Resistance

Resistance

R1- $46,000
R2- $48,300
R3- $50,000

Support

S1- $44,000
S2- $43,500
S3- $42,500

Ethereum Support / Resistance

Resistance

R1- $3300, R2- $3420, R3- $3485

Support

S1- $3200, S2- $3150, S3- $3000

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The content of this article is for informational purposes only and does not constitute financial or investment advice. It's important to perform your own research and consider seeking advice from an independent financial professional before making any investment decisions.

Bitcoin keyboard
Novelty Bitcoin tokens placed on a computer keyboard. Getty Images