The cryptocurrency market continues to attract the attention of investors, which have had quite a bit of turbulence in recent weeks after the “Hawkish” messages launched by members of the FOMC , dropping the possibility of raising interest rates sharply, causing strong sales in the “cryptos” and also in the Nasdaq. In this way, the most speculative have found the perfect “excuse” to shake the market and find more attractive entry prices , after trading volumes have skyrocketed in the last 24 hours. Likewise, Bitcoin prices gave up the psychological support of $40,000, an area of importance for both supply and demand. However, Bitcoin is trading slightly above $39,000, and may even pull back to test the much-desired $40,000.
In a similar way, we find Ethereum (ETH), whose price loses the psychological support of $3,000 today, but a positive aspect is the rebound it brings in the session , moving away from yesterday’s lows. Now, it would be interesting that the value is located again on this zone, with the objective of entering over the 3,200 dollars, the maximum of last week. For its part, Ripple (XRP) is trading around $0.65 , losing the key support at $0.69 due to bearish pressure. In addition, cryptocurrency investors are still waiting for the resolution of the case with the American SEC, so if sales continue, the target price will be around $0.62. On the other hand, it seems that Solana (SOL) is also losing strength after touching $130 with the arrival of April. Thus, the cryptocurrency rebounds from the lows of yesterday’s session, with the aim of getting back above the $100 barrier , a level of vital importance for Solana investors, so if it closes above that area, the next target is around $111.50.
Cardano (ADA) is also showing signs of weakness after the strong rebound during the second half of March. In fact, the market is once again punishing the cryptocurrency, which is losing more than 32% from the resistance of $1.25 , sighting the annual lows again, which are around $0.75. As for Dogecoin (DOGE), it is trading around $0.1258 after soaring more than 25% by the most speculators, after the announcement of the purchase of Twitter by Elon Musk, the billionaire’s favorite cryptocurrency , which is accepted at your Tesla company as a means of payment. Now, after the news, we see how Doge trades practically at the levels of last week but enters the top 10.
Finally, Terra (LUNA) is trading back near $90 , after the market rejected the $75 level, so we could see another pullback towards the $100 resistance. From now on, with the strong selling moves we are seeing, it will be interesting for Luna not to give up $85, as the next target is $80.
How could you trade with Ethereum? Example of operation
The volatility we see in Ethereum can offer excellent trading opportunities . Below, I offer an example of how we could trade the security with CFDs, which in no case should be considered as investment advice. In the case of the first scenario, we would opt for a buy strategy at a price of 3,000 dollars with the contract of 1 euro per point (each increase or decrease in price we gain or lose 1 euro) and our stop would be at 2,830 dollars. On the other hand, if we opted for the second strategy, and we entered the sale at a price of 2,850 dollars with the contract of 1 euro per point, we could put the stop level at 3,050 dollars. Therefore, trading on Ethereum has a leverage of 1:2 (50% margin), as established by the regulator ESMA.