Toncoin

April

Shiba Inu

Bitcoin (<a href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow">BTC</a>) is consolidating in an uptrend, indicating a tussle between the bulls and the bears. The bears hold the edge in the near term, as the 14th week of the year has historically seen <a href="https://cointelegraph.com/news/bitcoin-65k-more-losses-btc-price" rel="noopener noreferrer nofollow">Bitcoin prices fall by an average of 8.33%</a>, according to Coinglass data.
During Bitcoin’s range-bound action, traders are likely to focus on the performance of the spot Bitcoin-exchange traded funds, which have been the primary driver of the price. A comparison may be made with March, which saw a sharp uptick in trading volume.
According to data from Bloomberg ETF analyst Eric Balchunas, <a href="https://cointelegraph.com/news/spot-bitcoin-etf-trading-volume-tripled-in-march-to-111-billion" rel="noopener noreferrer nofollow">spot Bitcoin ETF volume surged</a> from $42.2 billion in February to $111 billion in March.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/938fd418-fc18-4161-8ec0-79025335e9bc.png">
 <figcaption style="text-align: center;">Crypto market data daily view. Source: <a href="https://coin360.com/" target="_blank" rel="noopener noreferrer nofollow">Coin360</a>
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However, the uncertainty increases as <a href="https://cointelegraph.com/news/bitcoin-halving-2024" rel="noopener noreferrer nofollow">Bitcoin halving</a> approaches. Independent analyst Rekt Capital believes the <a href="https://cointelegraph.com/news/why-is-bitcoin-price-down-today" rel="noopener noreferrer nofollow">pullback is a part of the pre-halving retrace</a> that resulted in a 38% drop in 2016 and 20% in 2020.
What are the important levels to watch out for in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
<h2 id="bitcoin-price-analysis">Bitcoin price analysis</h2>
The repeated failure of the bulls to propel the price above $71,770 may have tempted the short-term traders to throw in their towel. That sent the price tumbling below the 20-day exponential moving average ($67,646) on April 2.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/039e0f44-686f-4d84-98c1-f0adc105ab02.png">
 <figcaption style="text-align: center;">BTC/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3ABTCUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
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The 20-day EMA has flattened out, and the relative strength index (RSI) is near the midpoint, indicating a balance between supply and demand. This equilibrium could tilt in favor of the bears if the price skids below the 50-day simple moving average ($63,098). That could open the doors for a drop to $59,000 and subsequently to the 61.8% Fibonacci retracement level of $54,298.
On the other hand, if the price rises from the current level and rises above the 20-day EMA, it will suggest that the BTC/USDT pair may stay range-bound for some time. The bulls will have to shove the price above the $71,770 to $73,777 resistance zone to signal the start of the next leg of the uptrend to $80,000.
<h2 id="ether-price-analysis">Ether price analysis</h2>
Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) tumbled below the 50-day SMA ($3,414) on April 2, opening the doors for a retest of the March 20 low of $3,056.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/4f25e7af-0bff-467e-ac3b-6aea6d0fe9cd.png">
 <figcaption style="text-align: center;">ETH/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AETHUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
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The 20-day EMA ($3,493) has started to turn down, and the RSI is just below the midpoint, indicating that the bears have the upper hand. If the price breaks below $3,056, the selling could pick up, and the ETH/USDT pair may collapse to $2,700.
If bulls want to prevent the fall, they will have to push the price back above the moving averages. That will suggest a range-bound action between $3,056 and $3,679. A break and close above $3,679 will indicate that bulls are back in the driver’s seat. The pair may then rise to $4,100.
<h2 id="bnb-price-analysis">BNB price analysis</h2>
BNB (<a href="https://cointelegraph.com/binance-coin-price-index" rel="noopener noreferrer nofollow">BNB</a>) slipped below the 20-day EMA ($561) on April 2, indicating that the bullish momentum is weakening.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/54965d17-6fd5-4957-a00f-9bf2de2c11ad.png">
 <figcaption style="text-align: center;">BNB/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3ABNBUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
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The 20-day EMA is flattening out, and the RSI is just above the midpoint, indicating a range-bound action in the near term. If the price rises from the current level, it could rise to the downtrend line.
Conversely, if the price continues lower and breaks below $535, the next stop is likely to be $495. This level may act as a strong support, but if the bears prevail, the decline could extend to the breakout level of $460.
<h2 id="solana-price-analysis">Solana price analysis</h2>
Solana (<a href="https://cointelegraph.com/solana-price-index" rel="noopener noreferrer nofollow">SOL</a>) fell to the 20-day EMA ($181) on April 2, but the sharp rebound on April 3 shows the sentiment remains positive and traders are buying on dips.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/9f6294d1-2629-4e4c-944a-be152fc23a84.png">
 <figcaption style="text-align: center;">SOL/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3ASOLUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The bulls will again try to overcome the barrier at $205. If they succeed, the SOL/USDT pair could signal the start of the next leg of the uptrend. The pair may rally to $243 and later to $260.
However, if the price once again turns down from $205, it will indicate that the bears are fiercely defending the level. That increases the possibility of a drop below the 20-day EMA. If that happens, the short-term traders may dump their positions, pulling the pair to the 50-day SMA ($150).
<h2 id="xrp-price-analysis">XRP price analysis</h2>
XRP (<a href="https://cointelegraph.com/xrp-price-index" rel="noopener noreferrer nofollow">XRP</a>) remains stuck inside the large range between $0.46 and $0.74. The price fell below the uptrend line on April 1, indicating that the bears are trying to take charge.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/a41d8591-9545-4475-b805-9324047cecab.png">
 <figcaption style="text-align: center;">XRP/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AXRPUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The bulls have not given up and are trying to start a relief rally, which is likely to face selling at the 20-day EMA ($0.61). If the price turns down from this resistance, the likelihood of a drop below $0.56 increases. The XRP/USDT pair could then slump to $0.52.
Instead, if buyers drive the price above the 20-day EMA, it will signal solid buying at lower levels. The pair could then rise to $0.69 and eventually to $0.74, which remains the key resistance to cross.
<h2 id="cardano-price-analysis">Cardano price analysis</h2>
Sustained selling pressure has pulled Cardano (<a href="https://cointelegraph.com/ada-price-index" rel="noopener noreferrer nofollow">ADA</a>) to the strong support at $0.57. Buyers are expected to vigorously defend this level.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/dca1581c-d96e-4c1d-8242-80c1a677ed17.png">
 <figcaption style="text-align: center;">ADA/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AADAUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
If the price rebounds off the $0.57 level, it is likely to face selling at the 20-day EMA ($0.64). If the price turns lower from the 20-day EMA, it will increase the possibility of a drop below $0.57. That will complete a bearish head-and-shoulders pattern, which could clear the path for a fall to the critical support at $0.46.
Contrarily, if the price turns up and breaks above the 20-day EMA, it will suggest that the ADA/USDT pair may consolidate between $0.57 and $0.68 for a while. A rise above $0.68 will suggest that the corrective phase may be over.
<h2 id="dogecoin-price-analysis">Dogecoin price analysis</h2>
Dogecoin (<a href="https://cointelegraph.com/doge-price-index" rel="noopener noreferrer nofollow">DOGE</a>) turned down sharply on April 2 and nosedived below the breakout level of $0.19, signaling that the traders are aggressively booking profits.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/62e2c325-350d-4e05-9793-6e52afef4007.png">
 <figcaption style="text-align: center;">DOGE/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3ADOGEUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The DOGE/USDT pair continued lower and slipped below the 20-day EMA ($0.18) on April 3, but the long tail on the candlestick shows solid buying at lower levels. If the buyers push the price back above $0.20, it will suggest that the correction may be over. The bulls will then try to challenge the overhead resistance at $0.23.
On the contrary, if the price turns down and maintains below the 20-day EMA, it will suggest that every minor rally is being sold into. The pair may then slump to the 50-day SMA ($0.14).
Related: <a href="https://cointelegraph.com/news/why-is-solana-price-up-this-week" rel="noopener noreferrer nofollow">Why is Solana (SOL) price up today?</a>
<h2 id="avalanche-price-analysis">Avalanche price analysis</h2>
The failure to rise above the downtrend line accelerated selling and Avalanche (<a href="https://cointelegraph.com/avalanche-price-index" rel="noopener noreferrer nofollow">AVAX</a>) plunged below the breakout level of $50 on April 2.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/43127198-2a1b-4d44-a392-2391bb68419b.png">
 <figcaption style="text-align: center;">AVAX/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AavaxUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The selling continued, and the AVAX/USDT pair dropped below the 50-day SMA ($47) on April 3. Buyers are trying to defend the 50-day SMA, but the recovery is likely to face selling at the 20-day EMA.
If the price turns down from the 20-day EMA, it will increase the likelihood of a break below the 50-day SMA. The pair could then retest the crucial support at $42. This bearish view will be invalidated on a break and close above the downtrend line.
<h2 id="shiba-inu-price-analysis">Shiba Inu price analysis</h2>
Shiba Inu (<a href="https://cointelegraph.com/shiba-inu-price-index" rel="noopener noreferrer nofollow">SHIB</a>) fell below the 20-day EMA ($0.000028) on April 2, indicating that the bears remain active at higher levels.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/f44265bd-1d01-410d-8ac7-dd679eba23b8.png">
 <figcaption style="text-align: center;">SHIB/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=BINANCE%3AshibUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
</figure>
The SHIB/USDT pair could drop to the 50-day SMA ($0.000023), which is likely to act as a solid support. If the price rebounds off this level, the bulls will attempt to push the pair to $0.000033. A break and close above this level will be the first sign that the bulls are on a comeback. The pair may then attempt a rally to $0.000039.
Instead, if the price plummets below the 50-day SMA, it will suggest the start of a deeper correction toward $0.000017.
<h2 id="toncoin-price-analysis">Toncoin price analysis</h2>
Toncoin (TON) reached the 20-day EMA ($4.63) on April 3, an important level to keep an eye on.
<figure><img src="https://s3.cointelegraph.com/uploads/2024-04/9bfa699e-0e4c-4786-89cd-4b48bd3a08cf.png">
 <figcaption style="text-align: center;">TON/USDT daily chart. Source: <a href="https://www.tradingview.com/chart/?symbol=OKX%3AtonUSDT" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>
 </figcaption>
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If the rebound off the 20-day EMA sustains, it will suggest that traders continue to buy at lower levels. That could keep the TON/USDT pair stuck inside a range between the 20-day EMA and $5.69 for some time.
Alternatively, if the price turns down and plummets below the 20-day EMA, it will signal that the bulls are booking profits in a hurry. That could sink the pair to the 61.8% Fibonacci retracement level of $4.22.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Price analysis 4/3: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, TON

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