Crypto Markets Attempt a Recovery

Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.

BTC 4-hour candle chart, 4/2/22

Crypto markets dipped down to just above $44k on Thursday and found support.

After finding support, BTC has started moving upwards once more. It’s currently attempting to test $47k as it’s found another higher support above $46k. It wouldn’t be surprising if BTC prepares to test $48k once more if buy-side pressure continues.

The MFI is trending strongly upwards. The MACD’s momentum waves are swinging upward strongly as its EMAs are preparing to swing upwards as well.

The overall cryptocurrency market is holding just below $2.2 trillion with a volume of approximately $122 billion. BTC dominance is down to 40.8% with ETH dominance at 19.4%.

ETH 4-hour candle chart, 4/2/22

ETH’s uptrend is continuing as well. BTC’s movement is still largely influencing ETH’s and the greater crypto market’s movement. ETH is currently testing the $3,500 range once more.

The MFI is trending upwards strongly and the MACD is also trending upwards strongly. It wouldn’t be surprising if ETH continues to push upwards.