Economic calendar Friday, April 16
Chiliz Analysis (CHZ) Wednesday, April 14
The price of Chiliz is currently trading above the $ 0.5 price level inside a continuous bull pattern known as the bull bullion (bullish). Such technical formation caused a jump in the market value of Chiliz and the creation of a flagpole pattern.
This process continued slowly, leading to the creation of a sloping, downward canal.
The decisive closing of the price above the upper border of the flag with the price of $ 0.523 announced the beginning of a 94% bullish (bullish) rally. By adding the height of the flagpole to the breaking point of the upper boundary, the $ 1.01 target is reached.
If traders can not restrain the Chilean uptrend, the currency could rise to the Fibonacci level of 127.2% at $ 1.61.
According to the IOMAP chart, it will not be easy to continue the uptrend because cows have a difficult path ahead of the currency traders.
Over 12,400 addresses bought 946 million Chiliz for $ 0.49 to $ 0.53. Everyone wants to sell. So any new trade in the short term may hit the opposite target because some investors want to lower prices.
Therefore, reversal by any of these price levels in this range may reduce the chill to support areas.
If sellers bring the price of Chiliz below $ 0.39, the downtrend will be key, as it indicates a move below the flag pattern.
If this scenario continues, Chiliz could initially drop 13% to $ 0.345, the first support level. Otherwise, the cryptocurrency will move to the level of 61.8% Fibonacci at $ 0.24.
The price of Ethereum could reach $ 10,000 in 2021
According to veteran trader Scott Melker, Ethereum's "tremendous upside potential" could overshadow bitcoin, and Ethereum would perform better than bitcoin, at least in the short term.
Malker sees this period of Bitcoin price stabilization as the second cryptocurrency to reach new heights recently. Melker considers Ethereum's bullish potential to be a major factor in the recent bullish market.
He also revealed that over the past few months he has changed his medium-sized investment strategy from Bitcoin to Ether to take advantage of Atrium's "tremendous uptrend".
"It's like investing in the Internet for me in the early 1990s," Malker said. Ethereum could reach $ 10,000 by the end of 2021, Malker said.
Ripple's second legal victory over the SEC boosted it by 17 percent Saturday, April 10
Ripple has won its second major victory in the past week in its legal battle against the US Securities and Exchange Commission (SEC). The judge in the case, Sarah Netborn, barred the Securities and Exchange Commission from accessing the personal financial records of Ripple Board executives Garlinghouse and Chris Larsen.
Following this news, the price of XRP has increased significantly and was able to reach $ 1.18 with a growth of 17%. At the time of writing, XRP is trading in exchanges at $ 1.16 with a market cap of $ 51.9 billion. With this move, XRP took the place of Tetr with a weekly growth of 76%.