Ethereum, XRP, ApeCoin, Fantom Price Analysis: 21 March
As the global crypto market saw improvement in its sentiment over the past week, the 4-hour RSI’s of Ethereum, XRP, ApeCoin and Fantom indicated a bullish inclination. However, the bulls still needed to back up their rallies on increased volumes to claim a comfortable position above their critical supports.
Since falling from its November highs, ETH lost the vital $3,200-mark as the bears flipped it to resistance. The bearish phase led ETH to lose more than half its value as it plunged towards its six-month low on 24 January.
While the bulls were keen on ensuring the $2,300 base, the alt gradually recovered since then. Recently, ETH bounced back from its two-month trendline support (white, dashed) and broke out of the down-channel (yellow). Now, as the 20 EMA (red) jumped above the 50/200 EMA, the bulls displayed a visible edge.
At press time, ETH was trading at $2,869.3. After a recent reversal from the overbought mark, the RSI found support at the midline. A recovery from here could find a ceiling near the 58-mark.
Since falling below its long-term Point of Control (POC, red) at the $0.76-mark, XRP fell towards its six-month low on 22 January. Post that, the bulls stepped in to defend the long-term $0.62-support.
Consequently, with an over 33% revival since, XRP flipped the EMA ribbons toward the bullish side. Meanwhile, it reclaimed its position above the POC as the bulls stepped on the front foot. From here on, the immediate resistance stood near the $0.83-mark before a possible pullback.
At press time, XRP traded at $0.8101. The CMF depicted a buying edge as it managed to hover above the zero-line. Furthermore, the recent movements revealed a hidden bullish divergence with the price and affirmed the increasing money flows into the crypto.
While the Bored Ape Yacht Club announced the introduction of its new crypto ApeCoin (APE) on 17 March, it caught considerable interest in the public eye.
Soon after its launch, its price jumped towards the $40-mark before plunging back to the $10-$15 range. At press time, APE traded at $10.96, down by 4.79% in the last 24 hours. After securing the #45 rank on CoinMarketCap, the crypto’s RSI revealed a bullish edge while it swayed above the equilibrium.
Since FTM reversed from the $3.32-level, the bulls have not been able to find a trend-altering rally. Consequently, it lost nearly 70% of its value and hit its six-month low on 15 March.
While maintaining the $1-mark, FTM kept marking lower peaks until it flipped the critical $1.3-mark from support to immediate resistance. Now, a strong close above the 20 EMA (red) could brighten the chances of breaking above its resistance.
At press time, FTM was trading at $1.2673. The RSI saw a recovery from the 42-support. It now displayed a bullish edge as the buyers try to take charge of the near-term trend. Nevertheless, the ADX depicted a substantially weak directional trend for FTM.