Bitcoin, Ethereum, Bitcoin Cash, Ripple: Weekly Price Analysis and Prediction, April 16

LTC  USD 12/04/18 Hourly Chart

LTC USD 12/04/18 Hourly Chart

Likewise, all the cryptocurrencies have rallied significantly.

Two people active in the cryptocurrency market told Reuters the biggest moves in bitcoin had occurred on the Bitfinex exchange before spreading to other trading platforms, but they were struggling to see what had caused the jump. On the upside, the price is facing resistances near the $0.6800 and $0.7000 levels. The bulls have been successful in pushing the price towards the $10,000 level.

Jon Ostler, UK CEO at finder.com, had this advice: 'While the downward trend has continued over the past month for many coins, our panel remains bullish in a presently bearish market, signalling optimism for future growth.

Ethereum has also been subjected to an upside according to last week's information and data.

A start of the day rally, mirroring the broader market trend, saw Litecoin move from the day's low $126.43 to an intraday high $132.77, breaking through the first major resistance level of $129.58 to test the 2 resistance level of $132.6 before a mid-afternoon pullback to sub-$130 levels. It declined and traded below the 23.6% Fib retracement level of the last wave from the $0.6238 low to $0.6993 high.

At the time of writing, Bitcoin Cash was down 3.88% to $750.7, with a delayed pullback from Sunday's 2 resistance level of $783.20 hitting Bitcoin Cash at the start of the morning. It traded close to the $0.7000 level before it faced sellers.

Bitcoin is back below $8,000 after falling from its weekend high of $8,339.

Therefore, we believe that the current bullish trend will continue.

Bitcoin Cash could avoid the FIB Retracement Levels for the day, with the day's first major support level of $749.13, though based on current sentiment, the first major support level may be a little too pricy for investors sitting on the side lines, particularly if the broader market is in the red. On the other hand, a drop below the $720 price level might subject the cryptocurrency to the levels below the $700 range.

While the mood is negative, a pullback to sub-$0.60 levels will be unlikely barring negative news hitting the wires, with a move back through to $0.67 levels likely to be considered a green light, the next milestone for Ripple's XRP being a hold at $0.70 levels.

Ripple price gained traction recently and moved towards the $0.7000 level against the USA dollar. Therefore, this depicts a significant rise in price. A rally above the $0.700 level might further push the prices to the $0.7500 levels.

Moreover, the XRP/USD pair is now trading below a short-term bullish trend line with support at $0.6800 on the hourly chart. Last week, Ripple attained a high of $0.685.

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