BTC, ETH, XRP, ADA, YFI, BZRX, DASH—Technical Analysis April 28

Bitcoin (BTC) has been rejected by a short-term Fibonacci resistance level.

Ethereum (ETH) reached a new all-time high price on April 28.

XRP (XRP) has completed a fourth wave pullback while Cardano (ADA) has completed an irregular flat correction.

Yearn.finance (YFI) has bounced at an important support area.

bZx Protocol (BZRX) has broken out from a descending resistance line and validated it as support afterwards.

Dash (DASH) is trading in a range between $245 and $330.

BTC

BTC has been moving upwards since April 26. However, it was rejected by the 0.5 Fib retracement level (black) at $55,865 on April 27.

In addition, both the RSI and MACD have generated bearish divergences.

The strongest support area is found at $51,350, which is the 0.5 Fib retracement level of the entire upward movement and a horizontal support area.

The 0.382 and 0.618 Fib retracement support levels are also likely to act as minor supports.

ETH

On April 28, ETH reached a new all-time high of $,2716. It has decreased slightly since.

The wave count suggests that it’s in sub-wave five (black) of wave three (orange). Therefore, the most next likely targets for the top of the movement are found at $2,874 and $3280-$3350. The latter range is a confluence of two different Fib levels.

These targets are found using the 2.61 external Fib retracements and a fib projection on sub-waves 1-3.

For a longer-term analysis, click here.

ETH Wave Count

XRP

XRP has been moving downwards since it completed wave three (orange) with a local high of $1.96 on April 14.

On April 23, XRP bounced at a low of $0.88, likely completing a fourth wave pullback.

The most likely target for the top of the upward movement is located at $2.72. This target was found using a fib projection on waves 1-3.

XRP Wave Count

ADA

ADA has been decreasing since April 14, when it reached an all-time high price of $1.55.

The drop took it to a local low of $0.92 on April 23. This potentially completed an irregular flat correction.

The token has been bouncing since and has reclaimed the $1.05 area as support.

The two most likely targets for the top of the upward movement are found at $1.83 and $2.38. Similar to ETH, this increase would take it to a new all-time high price.

ADA Irregular Flat

YFI

YFI has been moving downwards since April 19 after reaching an all-time high price of $57,497. The drop took it to the $39,500 area, validating it as support.

Despite a bearish cross in the Stochastic oscillator, the RSI and MACD are bullish.

The next closest resistance area is found at $68,450.

YFI Movement

BZRX

On March 30, BZRX broke out from a descending resistance line. It proceeded to reach a high of $1.04 on April 17 before decreasing.

The drop took it back to the previous descending resistance line, validating it as support. Afterward, BZRX reclaimed the $0.65 area, which is now likely to act as support. The entire movement potentially completed a running flat correction.

A potential target for the top of the upward movement is found at $1.28.

BZRX Movement

DASH

DASH has been moving downwards since April 17. On April 23, it managed to bounce at the $245 area, validating it as support.

However, the bounce has not been substantial.

Currently, it’s trading inside a range between $245 and $330.

Until it breaks out/down from this range, the direction of the trend cannot be determined.

DASH Trading Range

For BeInCrypto’s previous bitcoin (BTC) analysis, click here.