Crypto Frontline

Weekly Crypto Analysis April 1-7, 2019

Weekly Crypto Analysis April 1-7, 2019
March 31
08:28 2019


BTCUSD (Coinbase)

Bitcoin technical analysis 2019


The bullish parabolic structure continued to advance higher after the buyers started to rebound around the 4h chart 200 moving average. It’s encouraging to see Bitcoin managed to make new weekly highs, but still, volatility and volumes remain very low.

As you can see from our chart, we’ve drawn a triangular formation, backed by the $4,187 – $4,236 key resistance area on the upside, which we believe will pose a serious challenge for the bulls. We expect stronger selling to emerge and the upside to be capped. The odds of the Bitcoin price going back to the 200 MA are at 60% from our point of view and should increase further if the buying power will continue to weaken.

On the other hand, a clear break above $4,236 will signal buyers are active and further gains will follow then. Let’s see what will happen, but our take is that Bitcoin will continue to trade inside the triangle.

ETHUSD (Kraken)

Ether technical analysis 2019


For the month of March, Ether had a relatively choppy activity, but still, the order flow looks biased towards the buy side. A series of higher lows and higher highs suggests the bulls had been in control and we suspect the month of April will see Ether continuing to edge higher.

The price action broke back above the 4h chart 200 moving average, and although a pullback towards the MA might take place, we think Ether will continue to advance towards the $150 key resistance area.

Still, considering the activity had been choppy, selling activity could also increase, and a strong break below the 200 MA could open more room towards $128 or even $123.5. The safest approach will be to wait for a pullback towards the moving average and see how the market participants will react then.

STRUSDT (Poloniex)

Stellar technical analysis 2019


Since February 7th, Stellar had started to move higher and from the lows, to the current price we have around 50% in gains. The trend line which we’ve talked about several weeks ago is still intact and the price action made a series of higher lows and higher highs, communicating there’s interest in the coin at these very low levels.

We think there’s great potential in Stellar around 9.74 cents – 9.19 cents area, which is where the ascending trend also converges with the support zone. A move towards the 12.73 cents or 13.7 cents, where stronger resistance is expected, could be seen in the next one or two months, as the price action structure is biased towards the bulls.

On the other hand, it will take a break below the above-mentioned support zone and trend line in order to reconsider our approach and then the most likely outcome will be a retest of the February lows.

Briefings about ICOs

COTI is the world’s first blockchain protocol optimized for decentralized payments, in order to be used by merchants, governments, stable coin issuers, etc. COTI currently runs its ICO, which will end on April 14th.

In terms of upcoming ICOs, PrepayWay is a blockchain ecosystem that simplifies and streamlines international collaboration, contracting, and payments for companies across multiple sectors. The company will start its ICO on April 18th.


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