April was an unforgettable month for stocks and cryptocurrency investors. BTC fell 17% in April, marking the worst performance in April. Similarly, the Nasdaq Composite dropped 13.3% last month; These are its worst monthly figures since October 2008. However, the main positive for crypto-investors is that Bitcoin is still surpassing the year-end low of around $33,000.
The Nasdaq 100 has reached a new low by 2022. BTC avoided significant sales, indicating a low level of demand. With BTC, Ether also managed to maintain a low level year-on-year. According to Jarvis Labs, ether whales and retail fish have accumulated at lower levels. After surviving the April attack, could BTC start a strong recovery and pull the Altcoins higher? Top-5 cryptocurrency schemes that may excel shortly.
Bitcoin dropped to the ascending channel support line on April 30. However, a return to it on May 1 indicates that the bulls are defending the level with all their might. While the downside 20-day exponential moving average of $39,956 represents an advantage for sellers. A positive difference in the relative strength index indicates that a negative momentum may be weakening.
If the break is maintained, the bulls will try to raise the price above the 20-day EMA. If they succeed, he suggests accumulating at the support line. The pair could then rise above the 50-day moving average of $41,954. Conversely, a weak removal indicates a lack of aggressive procurement at the support line. If the price falls below the current level or the 20-day EMA, Falling down the channel, the BTC/Tether pair could fall to $34,322. And then re-check the critical support at $32,917.
The 4-hour diagram shows that the price decreases inside the wedge falling pattern. The RSI has established a positive divergence. This indicates that the falling momentum may be weakened. If the price breaks the wedge resistance line, the pair could gain momentum and rise to $41,000. This level can still play a role in resistance. However, if the bulls cross this threshold, the next stop could be $43,000. Conversely, sales may increase momentum if the price falls below the 20-EMA and falls below the wedge.
The failure of the bulls raised NEAR above $18; Has caused a sharp drop in the last few days. On April 30, the price dropped to $10 before psychological support. However, a strong turnaround on May 1 indicates an aggressive buying of bulls. If buyers put the price above the $11.94 200-day SMA, a decrease to $10 may have been a bear trap. The NEAR/USDT pair may rise to the $13.86 20-day EMA, Where bears may still try to stop recovery.
In order to indicate that the correction phase may be completed, the bulls will have to overcome this obstacle. This could trigger a rally towards strong overhead resistance from $18. Contrary to this assumption, if the price falls below the 200-day SMA, the probability of a break below $10 increases. If that happens, the pair could extend the adjustment to $9.30; And later up to $8.00.
The bounce has risen above the 20-EMA, the first sign of strength. If buyers keep the price above 20-EMA, the pair could reach 50-SMA. Breaking and closing above this level indicates that the short-term downtrend may end.
Conversely, if bulls cannot keep the price above 20-EMA, the bears continue to sell stocks. The Bears will then make another attempt to support the pair firmly below $10 and resume the decline.
The VET has consolidated in the extensive range from $0.043 to $0.083 over the last many days. The price has reached the support of the range, which acted as a strong floor three times before. Drop-in support of $0.043 on May 1 indicates that buyers are keeping the level vigorously. If the buying momentum persists and the price rises above the $0.055 20-day EMA, the VET/USDT pair may remain in the range for a few more days.
Alternatively, if the price falls below the current level or the 20-day EMA, demand declines to a higher level. The bears will then try to sink the pair the range. If they can achieve this, the pair could resume their downward trend and drop to $0.034.
Price returned from solid support to $0.043. The bulls will now try to lift the pair above the 20-EMA. If they triumph, it desires that the bears may be less powerful. The pair can then rise to 50-SMA. Breaking and closing above this level can clear the way for a possible rally of up to $0.065.
Conversely, if the price falls below the 20-EMA, it suggests that the bears are selling up to intense resistance levels. The bears will then try to pull the pair’s strong support below $0.043 and continue the decline.
LUNA has consolidated in an upward trend over the last few days. The price returned on May 1 with the strong support of $75; This indicates that the bulls are guarding this level aggressively. The LUNA/USDT pair can now try the 20-day EMA rally for $88. This level can be an obstacle where bears will try to stop climbing. If the price falls below the 20-day EMA, it increases the chances of a break below $75 support.
If this happens, the pair will complete the head and shoulders pattern, indicating a potential trend. Conversely, if a bull raises its price above the 20-day EMA, the pair may rise to psychological resistance up to $100. Buyers will need to clear this threshold to indicate that the correction may be completed.
Price returned from solid support up to $75. The bulls will now try to lift the pair above the 20-EMA. If they manage to do this, sales pressure may be reduced. A break and close above 50-SMA may indicate that the pair may remain in the $100 to $75 range. Contrary to this assumption, if the price drops sharply from the current level or 20-EMA, it suggests that the bears are selling at every small rally. This can lead to a strong support re-test for $75.
GMT corrected the upward trend. The positive sign is that the bulls did not allow the price to fall below $3.13 in the 20-day EMA. This indicates that the mood remains positive, and bulls are buying on the decline. Buyers are probably to signal everyone who features appropriate if there are only a short. If buyers overcome this hurdle, the GMT/USDT pair may resume its uptrend. The couple can then try the rally on a psychological level for up to $5.00.
A bullish 20-day EMA is a signal of favor for buyers. However, the RSI makes a negative difference, suggesting that the growth momentum may be weakening. Sales could boost if the price falls below the 20-day EMA. The pair could then drop to the 50-day SMA at $2.08.
The bears tried to keep the price below 50-SMA. However, they failed. This indicates strong demand at low levels. If bulls raise the price above 20-EMA, sales pressure may be reduced. The pair could then re-try the all-time maximum of $4.17.
Conversely, if the price falls below the 20-EMA, it suggests that the bears are active at a higher level. Then sellers will again try to bring the pair below the 50-SMA. If they manage to do so, the pair could turn into solid support for $3.00.
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