BTC/USDT continues to trade below $40,000. The bears try to level up to resist. The rising US dollar index, which is usually feedback from Bitcoin, encourages sellers. Bitcoin bulls seem to be getting hints from the Nasdaq, close to positive territory. Although risky assets have been in the receiver for the past few days, Bitcoin owners are focusing on long-term growth forecasts; While ignoring short-term weakness. According to the data, the stock of Bitcoin, which has not changed for at least a year; For the first time, climbed more than 64%,
The founder of SkyBridge Capital said the firm has thrived in the cryptocurrency markets for three to five years. The hedge fund now plans to relocate most of its assets to digital assets. Could a further decline in Bitcoin and Altcoins attract purchases from long-term investors? What are the essential parts to keep an eye on?
BTC/USDT
Bitcoin fell below immediate support on April 2 to $38,536. However, the bears were unable to strengthen their advantage. The long tail on the daily candle indicates a strong buy near the ascending canal line. Buyers will now try to push the price above the 20-day exponential moving average, above $40,974. If they can do that, the BTC/USDT pair could be up to $43,000.
Conversely, if the price falls below the 20-day EMA, the mood remains negative, and the bears are selling up to intense resistance levels. The pair can then opt-out of the channel support line. Breaking down and closing the channel can accelerate sales. Consequently, the team could move into the strong support zone from $34,300 to $32,917. Analysts expect that the bulls will control this level with all their possibility.
ETH/USDT
The ETH/USDT broke and closed the 50-day simple moving average below $3,022 on April 21. This indicates weakness. Buyers tried to get the price back above the 50-day SMA on April 22. However, they failed, suggesting that the bears changed levels of resistance. The Bears traded lower at $2,883 on April 25, below immediate support. However, the long tail on the daily candle indicates that the bulls are aggressively buying at a low level.
If buyers raise the price on the 20-day EMA to $3,045, The ETH/USDT pair could rise to $3,200. And then advance to the 200-day SMA at $3,477. Conversely, if the price drops from the psychological level to $3000, the bears continue to sell at a higher level. If the pair falls below $2,797, the team may come down the upward trend line.
SOL/USDT
SOL narrow range trading has declined towards decline. Consequently, the price caught up with the ascending channel support line. This is a significant level. If the bears sink in and keep the cost down the channel, sales could boost; The SOL/USDT pair could fall below $75 on a solid support. A downward 20-day EMA, $104, and an RSI in negative territory indicate that the bears are in control.
Conversely, if the price falls sharply to the current level, the bulls will continue to defend this support vigorously. Then buyers will again try to push the pair above the 20-day EMA. If they do, the team could rise to $122.
LUNA/USDT
The LUNA Token fell below the $91 20-day EMA on April 23. However, the bears could not take the power of this. This indicates that sales are dropping at a low level. The 20-day EMA of $91 is flat; The RSI is above the midpoint, showing a balance between supply and demand.
If the price exceeds the 50-day SMA, $94, the bulls will still try to cross the overhead threshold to $100. If they succeed, the LUNA/USDT pair can start their march to an all-time high of $119. The balance could shift in favor of sellers if the price falls below the 50-day SMA and falls below $87. This can lead the pair to solid support up to $75.
DOGE/USDT
DOGE fell $0.13 on April 24 on the 50-day SMA. The bear price reached $0.12 on April 25. If buyers keep the price above the 20-day EMA of $0.14, The DOGE/USDT pair may increase to $0.15; Later, strong overhead resistance up to $0.17. The 200-day SMA of $0.17 is placed above this level. Therefore, the bears are likely to set strong support at $0.17.
Alternatively, if the price falls and falls below the 50-day SMA, the bears do not want to give up and continue to sell stocks. The longer the price stays below the 50-day SMA, the more likely it will fall below the $0.10 psychological level.
BNB/USDT
The BNB fell $391 on April 25 in immediate support; However, the long tail on the daily candle indicates that the bulls are buying at a low level. If the price maintains and closes above $391, the bulls will try to raise the BNB/USDT pair above the $411 20-day EMA. If they succeed, the pair can reach the extra resistance of up to $445.
Conversely, the bears are likely selling on stocks if the price falls below the current level or the 20-day EMA and falls below $382. This can lead the pair to solid support up to $350. A downward 20-day EMA and a relative strength index in the negative zone suggest that bears have a margin.
XRP/USDT
XRP broke strong support below $0.69 on April 25. This indicates that the limited action in the range was decided in favor of the sellers. The 20-day EMA dropped $0.74, and the RSI is in an over-traded area, indicating that the bears are in control. If the price is below $0.69, the XRP/USDT pair may drop immediate support to $0.62.
If the price returns below this level but does not return above $0.69, the bears change levels before resistance. This will increase the possibility of falling to solid support up to $0.54; conversely, if the price rises and returns to $0.69, the markets have rejected lower levels. Then the pair can still try to cross the 50-day SMA above $0.78.
ADA
For the past few days, the ADA has been stuck in the $0.74 to $1.26 range. This suggests that traders buy near the support and sell near the resistance range. After failing to overcome resistance at $1.26 on April 4, The ADA/USDT pair is declining towards support for the content. A below 20-day EMA of $0.95 and an RSI in negative territory indicate that the bears are in control.
On April 25, the pair fell below $0.87 in support, thus clearing a possible drop to $0.74. This level is likely to attract necessary purchases of bulls. The bulls will try to force the pair above the 20-day EMA if that happens. If they manage to do so, the range-limiting effect may continue for several more days.
AVAX
AVAX closed down the uptrend edge on April 21. This eliminated the possible ascending triangle pattern. The bears put pressure on their advantage, and the price reached $65 with firm support. The long tail on the April 25 candle suggests that the bulls buy for $65. They will now try a relief action that could hit the wall at the $77 20-day EMA.
If the price falls due to this resistance, the mood remains negative, and traders sell stocks. Then the bears will make another attempt to lower the cost below $65. Conversely, a break above the 20-day EMA suggests that the AVAX/USDT pair may remain in the $65- $99 range.
DOT
The DOT on April 24 rejected the overhead resistance at $19. The bears are trying to build on this advantage and put the price below immediate support below $17. If they manage to do so, the DOT/USDT pair could be reduced to the solid support at $16. A bearish 20-day EMA of $19 and an RSI in negative territory indicate that bears have an advantage.
Contrary to this assumption, if the price rises from the current level, the bulls will make another attempt to cross the overhead threshold. Breaking and closing above the $19 50-day SMA could pave the way for a possible rally of $23.
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