The crypto markets are stronger than ever and have been creating records. The global market capitalization of cryptocurrencies excluding Bitcoin has surpassed $850 Billion.
This combined bull market has had contributions from many Altcoins, such as Stacks(STX), Bitcoin Gold(BTG) and Ripple(XRP). This article provides the price analysis of the aforementioned Altcoins.
Stacks(STX) Price Analysis
Stacks(STX), which was consolidating at $1.135 until April 5, 2021, has shot up an impressive 30.13%. ATH of $2.82 was also recorded on the same day. The currency came under selling pressure which eventually has brought the price to $2.21 below its ATH. But the price action looks good, with buyers accumulating.
$2.6 and $2.8 are the two resistance levels where the price of STX faced rejections, but it is holding well above previous levels. The price is taking strong support at $2.17, and $1.96. The flat bottom and descending pattern has been indicating the bullish momentum.
The RSI indicates at 43 indicates moderate levels. MACD shows moderate to bearish levels with the profit booking in session. After a small consolidation, the indications are that the bullish trend will follow.
The current market capitalization of STX is $2,384,433,603, with an increase in the volumes of trades by 1260.94% accounting for $1.3 billion.
Support: $2.17, and $1.96
Resistance: $2.6 and $2.8
MACD: Neutral to bullish
Bitcoin Gold (BTG) Price Analysis
Bitcoin Gold is another altcoin, a fork of BTG, whose price has recently skyrocketed. BTG is trading at $63.88 after a 41.27% jump. The jump has also attracted volumes, which rose by 230.84% totalling $277 million. The Market capitalization of BTG is $1,125,188,901 as per the Current trading price.
The resistance at $53.5 and $56 is going to hold the currency back. However, the support prices are not far from LTP, at $51.5 and $48. The RSI indicates bullish momentum at 63. MACD is neutral to Bullish.
The token is trying to capture a double bottom pattern, which if sustains, could turn bullish. Bollinger bands are starting to contract, but there can still be time for consolidation before any major move.
Support: $51.5 and $48
Resistance: $53.5 and $56
MACD: Neutral to bullish
Ripple (XRP) Price Analysis
The Ripple(XRP) prices broke out of the consolidation and finally hit a yearly high of $$1.04, on April 6, 2021. Decent transaction volumes worth $30,073,499,188 have taken place in the last 24-hours, according to CoinMarketCap. This volume is 197.29% more than that of the previous trading session. XRP’s market cap stood at $45,091,917,681 after increasing by 39.84% in the last 24 hours.
Ripple(XRP) has held its prices above the trend line, consolidating over $0.62 levels. 30 Minutes candle chart trendline shows the currency still in bullish momentum. A single trading session with a good buying spree could elevate the XRP.
The Bollinger band supports the reasoning by narrow difference at the neck. Even the EMA, MACD indicates bullish momentum.
The Bollinger Bands indicate price alignment with the upper Bollinger band and even crossed it, strengthening the possibility of another breakout targeting $1.5 shortly.
The RSI levels are at 76. Although the RSI indicator is calculated for 14 days generally, sufficient volumes are being held by investors. Any positive news could attract investors towards Ripple(XRP).
Looking at the charts, Ripple has sustained well above. The indicators suggest that the targets could be set to 1.5.
Resistance levels: $1.1
Support Levels: $0.89, $0.97