Major altcoins such as Bitcoin (BTC) and Dogecoin (DOGE) continue their sideways price action and are stuck in a tight range, suggesting they may continue to consolidate in the short term. The US dollar currency index (DXY) fell sharply after breaking above 101 on April 20. However, this weakness in the dollar did not support Bitcoin (BTC) price, possibly as the S&P 500 struggled to develop its strong April 19 rally. This shows that Bitcoin is tightly correlated with the US stock markets. Could higher highs in Bitcoin and major altcoins like DOGE continue to attract sales by the bears? As Kriptokoin.com, we provide price analysis and transfer for BTC, DOGE and 8 altcoins.
Here are the price analyzes for BTC, DOGE and 8 altcoins
Bitcoin (BTC) and Ethereum (ETH)
Bitcoin (BTC), sharp from $ 38,536 on April 18 turned somewhat, pointing to strong buying at lower levels. Buyers continued their purchases and pushed the price to the 50-day simple moving average ($42,104). The 20-day exponential moving average ($41,811) has flattened, and the relative strength index (RSI) is just below the midpoint, suggesting a balance between supply and demand. This balance could turn in favor of buyers if the price rises and continues above the 50-day SMA. This upward move will push the price towards $43,900. If the bulls manage to break through this hurdle, the momentum could increase and the BTC/USDT pair could rise to the 200-day SMA ($48,052). Contrary to this assumption, if the price drops sharply from the current level, it will indicate that the bears are active at higher levels. Sellers will then try to pull the pair to the support line of the ascending channel.
Ethereum (ETH) fell below the 50-day SMA ($3,000) on April 18, but the bears failed to sustain the lows. The bulls bought the dip and pushed the price back above the 50-day SMA. Buyers pushed the price above the 20-day EMA ($3,113) on April 20. However, the long wick on the day’s candlestick indicates that the bears are continuing to sell higher. The bears are currently trying to keep the price below the 20-day EMA. If successful, the ETH/USDT pair could consolidate in a tight range between $2,883 and $3,166. A break below $2,883 could put the pair on the uptrend line, while a break above $3,166 could open the way to retest the 200-day SMA ($3,491).
BNB and Ripple (XRP)
Bulls bought the dip below the 50-day SMA ($408) on April 18, indicating strong demand at the lows. Continuous buying pushed BNB above the 20-day EMA ($419) on April 19, but the bulls are struggling to maintain momentum. The flat moving averages and the RSI just above the midpoint indicate a range-bound move in the near term. If the price breaks from the current level or overhead resistance, the bears will try to push the BNB/USDT pair below the 50-day SMA. A break and close below $391 might turn the strong $350 support down. Alternatively, if the price rebounds from the 20-day EMA ($419), the bulls will attempt to push the pair above the strong resistance at $445 and challenge the 200-day SMA ($471).
Ripple (XRP) long tail on April 18 candlestick indicates strong buying at lower levels. The price reached the 50-day SMA ($0.78) on April 19, but the bears are fiercely defending this level. If the price declines from the current level, it will suggest that the XRP/USDT pair may remain in the range between the 50-day SMA and $0.69 for a while. A break and close below $0.69 could open the doors for a possible drop to $0.60. Conversely, if the price rises, the bulls will attempt to push and sustain the pair above $0.80. If they do, the pair could rally towards the zone between the 200-day SMA ($0.87) and $0.91. The flat moving averages and the RSI near the midpoint do not give the bulls or bears a clear advantage.
Solana (SOL) and Cardano (ADA)
Solana (SOL) bounced off the support line of the ascending channel on April 18, showing that the bulls had bought the lows to this level. The bulls pushed the price above the 20-day EMA ($107) on April 19, but are struggling to sustain higher levels. This shows that the bears continue to sell on every minor rally. If the price breaks below the 50-day SMA ($101), the bears will make another attempt to push the SOL/USDT pair below the ascending channel and retest the critical support at $75. Conversely, if the price rises from the current level, the bulls will try to challenge the overhead resistance at $122. A break and close above this level could open the doors for a potential rally to the 200-day SMA ($147).
Cardano (ADA) plunged below the immediate support of $0.91 on April 18, but the bears failed to keep the price low. This indicates that the bulls are attempting to form a higher low. The bullish momentum could increase if buyers push the price above the $1 psychological level. The ADA/USDT pair could then rally to $1.10 and then retest the critical resistance at $1.26. A break and close above this level will mark the start of a new uptrend. Alternatively, if the price turns down from overhead resistance, the bears will try to pull the pair down again. The pair could drop to $0.87 first and if this level is broken, the decline could extend to the strong support at $0.74.
Terra (Luna) and Avalanche (AVAX)
Terra (LUNA) bounced off the strong support at $75 and reached the 20-day EMA ($91) on April 18. This shows that sentiment remains positive and investors are buying on the dips. The relief rally continued on April 19 and buyers pushed the price above the 50-day SMA ($93). The bulls will try to maintain the momentum and try to push the LUNA/USDT pair to the psychological level of $100. If the bulls break this hurdle, the probability of a retest of the all-time high increases. Conversely, if the price drops from the current level or $100, the bears will try to push the pair below the 20-day EMA. If they are successful, it indicates that traders can profit from the rallies. This can cause an interval to form for several days.
Avalanche (AVAX) fell below the uptrend line on April 18 but the bears failed to hold the lows. The strong buying by the bulls enabled the recovery and the price reached the moving averages. The bears are offering stiff resistance on the moving averages. If the price continues to drop, the bears will again try to push and sustain the AVAX/USDT pair below the uptrend line. If they are successful, the drop could extend to $65. Contrary to this assumption, if the price rises and rises above the moving averages, it will indicate strong demand by the bulls. This could open the doors for a possible rally to $99. The bulls will have to break through this hurdle to signal the formation of the ascending triangle pattern.
Dogecoin (DOGE) and Polkadot (DOT)
Dogecoin (DOGE) rebounded once again from the 50-day SMA ($0.13) on April 18, suggesting the bulls are aggressively defending the level. showed. The recovery broke above the 20-day EMA ($0.14) on April 19, but the bulls are struggling to sustain higher levels. This shows that the bears are selling to the immediate resistance at $0.15 on rallies. If the price breaks below the 20-day EMA, the bears will try to push the DOGE/USDT pair below the 50-day SMA. If they are successful, the pair could drop to $0.12. Conversely, if the price rises from the current level and rises above $0.15, the bulls will attempt to push the pair above the neckline. If successful, the pair will complete an inverted head-to-shoulder pattern with a formation target of $0.25.
Polkadot (DOT) stated on April 18 that bulls are defending the immediate $17 support. The price has reached the moving averages, which can act as a stiff hurdle. The 20-day EMA ($19.15) and the 50-day SMA ($19.31) are flat and close to each other, while the RSI is just below the midpoint, indicating a balance between supply and demand. This balance could tip in favor of the buyers if the DOT/USDT pair breaks and sustains above the 50-day SMA. The pair will then try to recover for the strong overhead resistance at $23. Conversely, if the price declines from the current level, the bears will again attempt to push the pair to the immediate support at $17 and then to $16.
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