Bitcoin (BTC), Ethereum (ETH) Forecast: Visa Adoption To Buoy Cryptos

BTC (BTC) 4-Hour Chart - Descending Channel Breach Hints At Further Gains

(Click on image to enlarge)

Chart prepared by Daniel Moss, created with Tradingview

Zooming into the four-hour chart bolsters the bullish outlook depicted on the daily timeframe, as prices penetrate Descending Channel resistance and the 56,000 mark.

The RSI eyeing a push into overbought territory, in tandem with the MACD clambering back into positive territory, may intensify buying pressure in the near term.

Remaining constructively positioned above the 8-EMA (57010) paves the way for BTC to make a run at the yearly high (61699).

However, slipping back below moving average support could trigger a short-term pullback to psychological support at 55,000.

Ethereum (ETH) Daily Chart – Symmetrical Triangle In-Play

(Click on image to enlarge)

Chart prepared by Daniel Moss, created with Tradingview

In a similar fashion to its more popular digital counterpart, Ethereum has also tracked sideways since rising to a fresh all-time high in mid-February (2036).

However, a break higher appears at hand, as prices surge back above all six moving averages and eye a test of Symmetrical Triangle resistance.

A break above that would probably generate an impulsive push to challenge the yearly high, with the Symmetrical Triangle’s implied measured move hinting that Ethereum could soar to probe the 2900 mark.

That being said, further consolidation is likely if triangle resistance and the monthly high (1943) successfully neutralize buying pressure.

Ethereum (ETH) 4-Hour Chart - Penetration Of Range Resistance Positive For Bulls

(Click on image to enlarge)

Chart prepared by Daniel Moss, created with Tradingview

Once again, scrolling into the short-term timeframe reinforces the positive outlook painted on the daily chart, with the break above range resistance at 1720 – 1738 paving the way for ETH to challenge confluent resistance at the triangle downtrend and March 10 high (1879).

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