Crypto trading forecast and signal for today, April 28
Bitcoin price is trading near the strong $55,000 level. Ethereum rose to $2,630, and the price of XRP strengthened to $ .38. The total capitalization of the digital currency market was $2.07 trillion.
The manufacturer of electric cars Tesla sold part of the assets in the first cryptocurrency for $272 million. This is stated in the report for the first quarter of 2021. Tesla estimated the profit from the sale of digital gold in the amount of 101 million. In early February, the company invested 1.5 billion in Bitcoin, calling it a good placement of cash reserves. According to the management, Tesla is satisfied with the liquidity of the first cryptocurrency market and will continue to accumulate digital assets from sales of electric cars for Bitcoin. According to analysts, the unrealized profit of Tesla from investments in cryptocurrency was higher than from the sale of electric cars for 2020. Recall that in March, Elon Musk announced the start of sales of Tesla for Bitcoin in the United States. According to him, the company does not plan to convert cryptocurrency into fiat money.
The indicator of open interest in Ethereum futures on the regulated Chicago Stock Exchange is growing rapidly and has already reached the mark of $287,000 million. Along with the open interest, the volume of derivatives trading has increased significantly over the past few weeks. Analysts noted that the growth of the above indicators accelerated significantly during the update of the historical price highs of Ethereum. The increase in open interest and trading volume comes on the back of the approval of four Canadian Ethereum-ETFs last week. On Tuesday, the second cryptocurrency updated its historical high at $2,646.
Trading signals for Bitcoin, ETH and XRP
The forecast is expected to further increase the price of Bitcoin to the levels of 55200, 55500 and 56000 Dollars. Ethereum may adjust to the levels of 2600, 2580 and 2550, and XRP - to 1.37, 1.35 and 1.30 Dollars.