Price analysis 4/4: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE

2 years ago

Bitcoin (BTC) has been stuck betwixt $45,400 and $47,500 for the past 2 days, indicating a pugnacious tussle betwixt the buyers and sellers arsenic some effort to found power implicit the trend.

Data from on-chain analytics steadfast Glassnode showed that 100,000 Bitcoin near exchanges successful March. These ample quantities of withdrawals person lone happened doubly successful the past of Bitcoin with the largest being successful March 2020. However, this does not mean the terms volition rally immediately. In 2020, the momentum picked up lone by the 4th fourth of the year.

For the adjacent term, analysts stay divided with immoderate expecting Bitcoin to drop to $44,800 oregon adjacent to $43,000 while others expect a rally to the intelligence level astatine $50,000.

As the crypto markets mature, they proceed to pull caller investors. A study by Gemini crypto speech highlighted that the fig of users who purchased their archetypal cryptocurrency successful 2021 soared by much than 50% successful India, Brazil and Hong Kong. Even Latin America, Asia Pacific, the United States and Europe witnessed much than 40% caller users who started investing successful 2021.

Could Bitcoin and altcoins bounce disconnected their enactment and widen the recovery? Let’s survey the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

The agelong wick connected the candlestick of the past 2 days suggests that bears are selling adjacent the 200-day elemental moving mean ($48,266). A insignificant affirmative has been that the bulls person not allowed Bitcoin to interruption beneath the important enactment astatine $45,400.

However, this tight-range trading is improbable to proceed for long. If the terms breaks beneath the 20-day exponential moving mean ($44,467), the BTC/USDT brace could driblet to the 50-day SMA ($41,689). Such a determination could invalidate the short-term bullish setup.

Conversely, if the terms rises from the existent level oregon the 20-day EMA, it volition suggest that traders proceed to bargain connected dips. That could heighten the prospects of a interruption supra the 200-day SMA. If that happens, the brace could rally to $52,000.

ETH/USDT

Ether (ETH) broke and closed supra the 200-day SMA ($3,487) connected April 3 but the bulls could not prolong the higher levels. This suggests that the bears are trying to propulsion the terms little and trap the assertive bulls.

If the terms breaks beneath $3,411, the bears volition effort to propulsion the ETH/USDT brace to the 20-day EMA ($3,197). This is an important level for the bulls to support if they privation the affirmative momentum to stay intact.

If the terms rebounds disconnected the 20-day EMA, the buyers volition again effort to thrust and prolong the terms supra the 200-day SMA. If they negociate to bash that, the brace could rally to $4,000.

On the different hand, if the 20-day EMA enactment gives way, the selling could intensify and the brace whitethorn driblet to the 50-day SMA ($2,895).

BNB/USDT

Binance Coin (BNB) has been trading adjacent to the $445 level for the past fewer days. Although the bulls pushed the terms supra this level repeatedly, they could not prolong the higher levels and situation the 200-day SMA ($467). This indicates that request dries up astatine higher levels.

The bears volition present effort to propulsion the terms to the 20-day EMA ($421) which is an important enactment to ticker retired for. If the terms rebounds disconnected this level, the buyers volition marque 1 much effort to wide the overhead hurdle and propulsion the BNB/USDT brace to $500.

Alternatively, if the terms breaks beneath the 20-day EMA, it volition suggest that the short-term traders whitethorn beryllium booking profits. That could propulsion the terms to the 50-day SMA. A interruption beneath this enactment volition suggest that the interruption supra $445 whitethorn person been a bull trap.

SOL/USDT

Solana’s (SOL) betterment stalled conscionable beneath the 200-day SMA ($150). This suggests that higher levels are attracting selling by the bears. The bears volition present effort to propulsion the terms to the breakout level astatine $122.

If the terms rebounds disconnected $122, the bulls volition marque different effort to wide the overhead hurdle astatine the 200-day SMA. If they succeed, the SOL/USDT brace could rally toward the intelligence level astatine $200. The rising 20-day EMA ($111) and the comparative spot scale (RSI) adjacent the overbought portion bespeak vantage to buyers.

Contrary to this assumption, if bears descend the terms beneath $122, the brace could driblet to the 20-day EMA. This is an important enactment to support an oculus connected due to the fact that a interruption beneath it could effect successful a diminution to the 50-day SMA ($96).

XRP/USDT

The bulls attempted to propulsion Ripple (XRP) supra the overhead absorption astatine $0.86 but the bears did not budge. The nonaccomplishment to emergence supra $0.86 whitethorn pull profit-booking from short-term traders which could descend the terms to the 50-day SMA ($0.78).

If the terms erstwhile again bounces disconnected the 50-day SMA, it volition suggest that bulls are accumulating connected dips. That could support the XRP/USDT brace stuck betwixt the 50-day SMA and the 200-day SMA ($0.89) for a fewer days.

The flattish 20-day EMA ($0.82) and the RSI adjacent the midpoint besides suggest a consolidation successful the adjacent term.

If bears propulsion the terms beneath the 50-day SMA, the brace could plummet to $0.70. Alternatively, if buyers thrust the terms supra the 200-day SMA, the brace could rally to the intelligence level astatine $1.

ADA/USDT

Cardano (ADA) turned up connected April 1 and has reached the overhead absorption astatine $1.26 wherever the bulls are apt to brushwood beardown absorption from the bears.

The upsloping 20-day EMA ($1.08) and the RSI adjacent the overbought portion bespeak that the way of slightest absorption is to the upside. If bulls propulsion the terms supra $1.26, the ADA/USDT brace could rally to the 200-day SMA ($1.48) and past to $1.63.

Conversely, if the terms erstwhile again turns down from the overhead resistance, the brace could driblet to the 20-day EMA. A interruption and adjacent beneath this enactment could propulsion the terms down to the intelligence level astatine $1.

LUNA/USDT

Terra’s LUNA token broke retired of the overhead absorption astatine $111 connected April 2 and made a caller all-time precocious astatine $118 connected April 3. This suggests that the bulls are successful the driver’s seat.

However, the antagonistic divergence connected the RSI warns that the bullish momentum whitethorn beryllium weakening and the LUNA/USDT brace could witnesser a insignificant correction oregon consolidation.

If the terms slips beneath the 20-day EMA ($100), traders who whitethorn person bought astatine little levels could publication profits. That could propulsion the terms down to the 50-day SMA ($84).

Conversely, if the terms rebounds disconnected the 20-day EMA, it volition suggest that the bulls proceed to support the level aggressively. The buyers volition past effort to propulsion the brace supra $118. If they succeed, the brace could emergence to $125 and aboriginal march toward $150.

AVAX/USDT

Avalanche (AVAX) repeatedly broke supra the overhead absorption astatine $98 successful the past fewer days but the bulls could not prolong the higher levels. This indicates that bears are defending the level with vigor.

The bears volition present effort to propulsion the terms to the 20-day EMA ($89). This is an important level to ticker retired for due to the fact that a beardown rebound disconnected it volition suggest that the sentiment remains bullish and traders are buying connected dips.

That could summation the anticipation of a interruption and adjacent supra the $98 to $100 absorption zone. If that happens, the AVAX/USDT brace could rally to $120.

Contrary to this assumption, if the terms continues little and breaks beneath the 20-day EMA, the adjacent halt could beryllium the 50-day SMA ($82). The brace could past widen its range-bound enactment for a fewer much days.

DOT/USDT

Polkadot (DOT) broke and closed supra the overhead absorption astatine $23 connected April 3 but the bulls could not prolong the higher levels. This suggests that the bears person not yet fixed up and are selling connected each rise.

The bears are trying to prolong the terms beneath $23 and trap the assertive bulls who whitethorn person gone agelong connected a breakout supra the resistance. The captious level to ticker connected the downside is the 20-day EMA ($21).

If this enactment cracks, the DOT/USDT brace could driblet to $19. If the terms rebounds disconnected this level, the DOT/USDT brace could stay range-bound betwixt $19 and $23 for a fewer days.

Conversely, if the terms turns up from the existent level and breaks supra $24, the brace could rally to the 200-day SMA ($29).

DOGE/USDT

Dogecoin (DOGE) rebounded disconnected the 20-day EMA ($0.13) connected April 3, indicating that the bulls proceed to support this level aggressively. The rising 20-day EMA and the RSI successful the affirmative portion bespeak vantage to buyers.

The buying continued contiguous and the bulls attempted to resume the up-move toward the overhead absorption portion betwixt $0.17 and the 200-day SMA ($0.18) but the agelong wick connected the candlestick suggests that bears are selling astatine higher levels.

If the terms continues little and breaks beneath the 20-day EMA, it volition suggest that the DOGE/USDT brace could stay range-bound betwixt $0.10 and $0.17 for a fewer much days.

The bulls volition person to propel and prolong the terms supra the 200-day SMA to awesome a imaginable alteration successful trend.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph. Every concern and trading determination involves risk. You should behaviour your ain probe erstwhile making a decision.

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