Bitcoin $5.25 Ethereum $1.61 VeChain $0.08. Cryptocurrencies Price Prediction – American Wrap
BTC/USD traded lower yesterday, breaking below the support (now turned into resistance) barrier of 53150. That said, the slide was stopped at 51300, and then, the price rebounded somewhat. Overall, since hitting a record high at around 60624 on March 15th, the crypto has been printing lower highs and lower lows on the 4-hour chart, something suggesting that there may be more declines in the works for the near term.
Ethereum dived below several key support levels, including $1,700 and $1,650, before embracing the buyer congestion zone at $1,540. A recovery is underway, with bulls having stepped above $1,600. Price action beyond the 50% Fibonacci level is likely to pave the way for gains eyeing $2,000.
The VeChain price has shown textbook adherence to the ascending parallel channel. Now, a retracement seems likely if bulls fail to defend crucial levels.