Fresh Forecasts for Bitcoin, DOGE, AVAX and These 7 Altcoins!

Despite the weakness experienced by many cryptocurrencies in the crypto sector such as Bitcoin and AVAX, institutional investors are not stopping their purchases.
 Fresh Forecasts for Bitcoin, DOGE, AVAX and These 7 Altcoins!
READING NOW Fresh Forecasts for Bitcoin, DOGE, AVAX and These 7 Altcoins!

Despite the weakness experienced by many cryptocurrencies in the crypto sector, such as Bitcoin (BTC) and Avalanche (AVAX), institutional investors are not stopping their purchases. These purchases show that investors are in an uptrend in the long run.

Does it offer buying opportunities for many bearish altcoins such as BTC and AVAX?

Terra saw the drop in Bitcoin price as a buying opportunity and bought another 5,040 BTC, bringing his total assets to 35,768 Bitcoins. Just like Terra did, MicroStrategy increased its holdings by another 4,197 Bitcoins through its subsidiary MacroStrategy, holding a total of 129,218 Bitcoins. Another sign of a strong appetite for Bitcoin is seen in the inflows into the fund, which is traded on two Canadian Bitcoin exchanges. According to Glassnode data, the funds have increased their holdings by 6,594 since January, bringing them to an all-time high of 69,052 Bitcoins. Could Bitcoin and altcoins enter a deeper correction or do lower levels give an opportunity to buy? As Kriptokoin.com, we examine the price analysis for DOGE, AVAX and these 7 altcoins.

Bitcoin (BTC)

After being stuck in a tight range between the 200-day simple moving average (SMA) ($48,240) and $45,000 for the past few days, the bears made their move and the price was in a 20-day exponential move. below the average (EMA) ($44,567). The relative strength index (RSI) has dropped to the midpoint and the 20-day EMA is flattening. This indicates that the bullish momentum may weaken. If the price bounces back from the 50-day SMA ($41,752), the bulls will again try to push the BTC/USDT pair above the 200-day SMA.

Conversely, if the bears sink the price below the 50-day SMA, it will signal that the pair may extend its stay inside the ascending channel. The pair could then gradually decline towards the strong $37,000 support.

Ethereum (ETH)

The failure of the bulls to sustain Ethereum (ETH) price above the 200-day SMA ($3,487) may have resulted in profit taking by short-term investors. This brought the price to the critical support at the 20-day EMA ($3,223). If the price bounces back from the 20-day EMA, it indicates that the bulls are buying on the dips. The bulls will then make another attempt to push the price above the 200-day SMA. If successful, the ETH/USDT pair could start an upward move towards $4,150 where the bears are expected to form a strong defense.

Contrary to this assumption, if the bears sink the price below the 20-day EMA, selling could gain momentum and the pair could drop to the 50-day SMA ($2.907).

BNB

BNB dropped to the 20-day EMA ($424). The bears will now try to push the price below the 20-day EMA. If successful, the pair could extend its decline to the 50-day SMA ($398). A strong recovery from this level will suggest that the pair may remain range-bound between the 200-day and 50-day SMAs.

Conversely, if the price rebounds from the 20-day EMA, the bulls will try to push the pair above the 200-day SMA and force the $500 resistance level.

Solana (SOL)

Solana’s recovery stalled on April 2 and the price dropped below the breakout level at $122. The bulls are expected to vigorously defend the 20-day EMA ($113). A strong bounce from the 20-day EMA will indicate that sentiment is positive and trades are buying on the dips. The bulls will then attempt to push the price above the resistance at the 200-day SMA ($149).

Alternatively, a break and close below the 20-day EMA could indicate weakening bullish momentum. The pair could later decline to the 50-day SMA ($96). A strong recovery from this level could squeeze the pair between the 50-day and 200-day SMAs.

Ripple (XRP)

Ripple bounced back on April 5 and broke below the 20-day EMA ($0.81). Selling continued today and the price dropped below the 50-day SMA ($0.78). This suggests that the bears have a slight advantage. If the price stays below the 50-day SMA, the XRP/USDT pair could drop to $0.70. This is an important level for the bulls to defend because otherwise the drop could be extended to $0.60.

If the price rises from the current level and rises above the 20-day EMA, the bulls will try to push the pair above the 200-day SMA ($0.89).

Cardano (ADA)

The failure of the bears to push Cardano above the $1.26 resistance may have encouraged short-term investors to take profits. This brought the price below the 20-day EMA ($1.09). If the price breaks below the 20-day EMA, the pair could drop to the 50-day SMA ($0.96). The bulls are likely to defend this level aggressively, but if the bears beat them, the ADA/USDT pair could drop to strong support at $0.74. A strong recovery from this level will suggest that the pair may consolidate between $0.74 and $1.26 for a while.

Alternatively, if the price rises above the current level, the bulls will again attempt to push the pair above the overhead resistance. If successful, the ADA/USDT pair could rise to the 200-day SMA ($1.47).

Terra (LUNA)

Terra’s LUNA token was in a strong uptrend but the negative divergence in the RSI also indicated that the bulls might be losing their grip. The bears will now try to pull the price towards the 20-day EMA ($102). This is an important level for the bulls to defend, as a strong rebound will show that the sentiment continues to rise and investors are buying on the dips.

Conversely, if the price drops below the 20-day EMA, investors could intensify their selling. This could bring the LUNA/USDT pair down to the 50-day SMA ($86).

Avalanche (AVAX)

The bulls bought the drop to the 20-day EMA ($89) on April 4, but AVAX failed to push above the resistance at $98. This indicates that the bears continue to aggressively defend the overall resistance. The 20-day EMA is flattening and the RSI has dropped into negative territory. If the price breaks below the 50-day SMA ($82), Avalanche (AVAX) could drop to the next major support at $65. A bounce from this level would suggest that the pair could remain range-bound between $65 and $98 for a few more days.

Conversely, if AVAX price rises from the current level, the bulls will make another attempt to break above the $98 to $100 zone.

Polkadot bulls also failed to break through the resistance level like AVAX

Polkadot (DOT) recovered from the 20-day EMA ($21) on April 4, but the bulls failed to clear the resistance at $23. This may have encouraged short-term investors to buy profits. The DOT/USDT pair broke below the 20-day EMA on April 6 and the RSI entered negative territory. This shows that the bulls have lost confidence. The next stop could be the 50-day SMA ($19). The bulls are likely to defend this level strongly but if the support is broken, the drop could extend to $16.

Alternatively, a strong rebound on the 50-day SMA could indicate that the pair could consolidate to $19 to $23 for a few days. The bulls will have to push and sustain the price above $23 to signal the start of a potential new uptrend.

DOGE and AVAX bulls will attempt to break through again

Dogecoin broke above the overhead resistance at $0.17 on April 5, but the bulls failed to break through the 200-day SMA ($0.18). The DOGE/USDT pair is likely to retest the 20-day EMA ($0.14). If the price bounces back from this level, it will indicate that the bulls continue to buy on the dips. Buyers will then attempt to break through the overall hurdle at the 200-day SMA again.

This positive view will be invalidated if the price continues to decline and falls below the 20-day EMA. Such a move could open the doors for a possible drop to $0.12. The pair could then be stuck between $0.10 and $0.18 for a few more days.

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