Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, April 21

Published on by Cointele | Published on

The Barclay Cryptocurrency Traders Index monitors the returns of the 19 funds that trade in virtual currencies.

We suggest the traders should keep the stops on the BTC/USD pair at breakeven.

The price zoomed past the moving average on April 19 and touched our first target objective of $1,114.

Traders can book partial profits at the current levels and keep a trailing stop on the remaining position.

We need to caution the traders that the cryptocurrency has a history of vertical falls, so it's better to protect the paper profits with a close stop loss.

Traders can hold the remaining positions with a close stop loss.

XLM/USD Stellar has broken out of our first target objective of $0.36, where we had proposed traders to book partial profits.

The logical stop loss for the trade is at $127, which doesn't offer us a good risk to reward ratio.

Traders should not get perturbed with the overbought levels on the RSI. Keep trailing the stops higher to lock in the paper profits.

We had anticipated resistance in the $9.5 to $10 zone, hence had recommended traders to book partial profits around the $9.5 mark.

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