BitTorrent Token, Chiliz, Ethereum Price Movement Analysis for 5th April, 2021

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BitTorrent Token was still on the rise, though there were some fleeting losses every now and then. Chiliz was unable to ascend above supply at $0.5 and could be pushed to slip below support in the coming hours, while Ethereum returned to the $2000 area of demand.

BitTorrent Token [BTT]

BTT shot past the expectations set in a previous review as buyer interest began to flood in. There is no way to pinpoint the exact top for such a good result in such a brief period of time.

Being long until wrong may result in profits on BTT. Using Fibonacci extension ratios again, the 200 percent and 261.8% levels are $0.0147 and $0.0329, respectively. The Supertrend tracker recommended a stop-loss at $0.0089. Trading turnover has been very strong in recent weeks, confirming investor confidence.

Chiliz [CHZ]

Ethereum, BitTorrent Token, Chiliz Price Analysis: 05 April

Source: CHZ/USDT on TradingView

The $0.53-$0.56 range was identified as a good supply region for CHZ. In recent weeks, the price had defended the $0.469 support, but the repeated bounces undermined this amount, allowing CHZ to fall below it.

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A change of momentum would occur if CHZ fell to $0.426; this would cause CHZ to enter a deep correction that might take it as low as $0.175, the 50% retracement stage.

The Chaikin Money Balance was less than -0.05, suggesting that more cash was pouring out of the market than in, indicating that bearish momentum persisted.

Ethereum [ETH]

Ethereum, BitTorrent Token, Chiliz Price Analysis: 05 April

Source: ETH/USD on TradingView

Ethereum was trading within the demand range of $1965-$2040. On the 4-hour map, the RSI has not yet fallen below the neutral 50 stage, and has also developed a secret bullish divergence in the last few days, causing the stock to bounce off the $2000 mark.

A similar reaction is needed for bulls to keep pushing ETH higher, as a drop below $1960 would likely send the market down to $1855. The Stochastic RSI was in oversold territory, and ETH could climb back beyond $2150 in the next day or two if the demand area remains intact.

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