Bitcoin

Toncoin

Avalanche

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 <p class=""><strong>The Bitcoin market and alternative cryptocurrencies continue to experience turbulence due to uncertainties in macroeconomics and geopolitics.</strong> Nevertheless, data indicates that bullish sentiment persists, with investors consistently purchasing during market downturns.</p>
 <p class="">The recent surge in Bitcoin’s value, followed by a stabilisation period, suggests that investors are not hastily exiting positions, anticipating further upward movement. As per a report from Santiment, large Bitcoin holders, colloquially known as whales, holding between 1,000 and 10,000 Bitcoins, have increased their holdings by 266,000 BTC since the beginning of 2024.</p>
 <p class="">Notably, it’s not just whales driving this trend. The emergence of spot Bitcoin exchange-traded funds has facilitated participation from traditional financial institutions. Bloomberg analyst Eric Balchunas noted in a recent report that two US-based financial advisers allocated $20 million each to the Fidelity Wise Origin Bitcoin Fund (FBTC), surpassing the previous record investment of $17 million by another adviser into BlackRock’s iShares Bitcoin Trust (IBIT).</p>
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   <figcaption class="wp-element-caption"><em>Crypto market data daily view. Source:</em><em>&nbsp;</em><em>Coin360</em>
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 <p class="">Although analysts are bullish for the long term, the short term looks uncertain. Fidelity Digital Assets believes that Bitcoin is no longer “cheap” and is&nbsp;trading at fair value. The company downgraded its medium-term outlook for Bitcoin from “positive” to “neutral.” The investment firm’s director of research, Chris Kuiper, said in an X post that Bitcoin is at the “halfway point” of the market cycle. He added that many gains are historically seen “in the latter half of the cycle.”</p>
 <p class="">What critical resistance levels must Bitcoin and altcoins cross to signal an end to the corrective phase? Let’s analyze the charts of the top 10 cryptocurrencies to find out.</p>
 <h2 class="wp-block-heading" id="bitcoin-btc-market-analysis">Bitcoin (BTC) Market Analysis</h2>
 <p class="">The Bitcoin market rose above the 20-day exponential moving average ($65,855) on April 22, but the bears stalled the recovery at the 50-day simple moving average ($67,509).</p>
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   <figcaption class="wp-element-caption"><em>BTC/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">Both moving averages have flattened out, and the relative strength index (RSI) is just below the midpoint, indicating a balance between supply and demand. If the price sustains below the 20-day EMA, the BTC/USDT pair could slump to $60,775. Buyers are expected to defend this level as a break below it may clear the path for a collapse to the 61.8% Fibonacci retracement level of $54,298.</p>
 <p class="">Contrarily, if the price turns up and breaks above the 50-day SMA, it will suggest that lower levels are attracting buyers. The pair may then climb to $73,777. Buyers must overcome this barrier to catapult the pair to $84,000.</p>
 <h2 class="wp-block-heading" id="ether-eth-market-analysis">Ether (ETH) Market Analysis</h2>
 <p class="">The Ether market tried to break above the 20-day EMA ($3,237) on April 24, but the long wick on the candlestick shows that the bears are not relenting.</p>
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   <figcaption class="wp-element-caption"><em>ETH/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">If the price maintains below the 20-day EMA, the ETH/USDT pair risks a breakdown below $3,056. If that happens, the pair may retest the critical support at $2,852. This is a vital support to watch out for because a break below it may sink the pair to $2,700.</p>
 <p class="">If the price rises from the current level of $3,056 and breaks above the 20-day EMA, it will suggest that the selling pressure is reducing. That could push the pair to the 50-day SMA ($3,466) and then to $3,679.</p>
 <h2 class="wp-block-heading" id="bnb-market-analysis">BNB Market Analysis</h2>
 <p class="">BNB has gradually moved toward $635, where bulls are expected to face strong selling from bears.</p>
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   <figcaption class="wp-element-caption"><em>BNB/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">If the price turns sharply from $635, it will suggest that the BNB/USDT pair may extend its stay inside the range for some more time. The pair could drop to the moving averages and, after that, $495.</p>
 <p class="">Buyers must overcome the obstacle at $635 if they want to seize control. If they do that, it will suggest the start of the next leg of the uptrend to $692 and eventually to the pattern target of $775.</p>
 <h2 class="wp-block-heading" id="solana-sol-price-analysis">Solana (SOL) Price Analysis</h2>
 <p class="">Solana&nbsp;has reached the overhead level of $162, where the bulls will likely encounter strong resistance from the bears.</p>
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   <figcaption class="wp-element-caption"><em>SOL/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">If the price turns down sharply from $162, it will suggest that the bears are fiercely defending the level. That could keep the SOL/USDT pair between $162 and $126 for a few more days.</p>
 <p class="">Alternatively, if the price breaks above $162, it will suggest that the correction may be over. The bullish momentum could pick up, and the pair may attempt a rally to $205. On the downside, a break below $126 could start a new downtrend to $100.</p>
 <h2 class="wp-block-heading" id="xrp-price-analysis">XRP Price Analysis</h2>
 <p class="">XRP&nbsp;<a target="_blank" rel="noreferrer noopener">rose above the 20-day EMA ($0.54) on April 22, but the bulls could not sustain the higher levels.</a></p><a target="_blank" rel="noreferrer noopener">
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    <figcaption class="wp-element-caption"><em>XRP/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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  </div> <p class="">The price turned down sharply and broke below the 20-day EMA on April 24, suggesting that the bears are active at higher levels. The XRP/USDT pair could drop to $0.50 and subsequently to the solid support at $0.46.</p> <p class="">If buyers want the upper hand, they must push the price back above the 20-day EMA. That will increase the likelihood of the pair remaining inside the extensive range between $0.46 and $0.74 for some more time.</p> <h2 class="wp-block-heading" id="dogecoin-doge-price-analysis">Dogecoin (DOGE) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Dogecoin&nbsp;</a><a target="_blank" rel="noreferrer noopener">has been trading near the 20-day EMA ($0.16) for the past few days, indicating a tough battle between the bulls and the bears.</a></p><a target="_blank" rel="noreferrer noopener">
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    <figcaption class="wp-element-caption"><em>DOGE/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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  </div> <p class="">The bulls struggle to propel the price above the overhead resistance zone between the 20-day EMA and the downtrend line. If the price continues lower, the bears will again try to sink the DOGE/USDT pair to $0.13.</p> <p class="">On the contrary, if bulls shove the price above the overhead zone, it will signal that the correction may be over. The pair could then rally to $0.21, where the bears may pose a substantial challenge.</p> <h2 class="wp-block-heading" id="toncoin-ton-price-analysis">Toncoin (TON) Price Analysis</h2> <p class="">Toncoin (TON) broke below the ascending channel pattern on April 22, suggesting the uptrend may be over.</p>
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    <figcaption class="wp-element-caption"><em>TON/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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  </div> <p class="">The bulls will make one more attempt to push the price back into the channel. If they do that, it will suggest that the breakdown may have been a bear trap. That could result in a short squeeze, pushing the price toward $7.23.</p> <p class="">Instead, if the price turns down from the channel’s breakdown level, it will suggest that the bears are trying to flip the level into resistance. The selling could accelerate on a slide below $5.42, and the TON/USDT pair may reach the 50-day SMA ($5.01).</p> <h2 class="wp-block-heading" id="cardano-ada-price-analysis">Cardano (ADA) Price Analysis</h2> <p class="">Cardano’s&nbsp;recovery stalled at the 20-day EMA ($0.51) on April 22, indicating that the bears continue to sell at higher levels.</p>
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    <figcaption class="wp-element-caption"><em>ADA/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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  </div> <p class="">The bears will try to pull the price to $0.46. This is a necessary level to watch out for because if the support gives way, the ADA/USDT pair could descend to $0.40. The bulls will likely defend this level with vigour because a break below it will signal the start of a deeper correction toward $0.35.</p> <p class="">The first sign of strength will be a break and close above the 20-day EMA. If this resistance is crossed, it will suggest a short-term trend change. The pair may then rise to $0.57.</p> <h2 class="wp-block-heading" id="avalanche-avax-price-analysis">Avalanche (AVAX) Price Analysis</h2> <p class="">Avalanche&nbsp;is likely to face resistance in the zone between the 20-day EMA ($40) and the breakdown level of $42.</p>
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    <figcaption class="wp-element-caption"><em>AVAX/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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  </div> <p class="">If the price turns sharply from the current level, it will suggest that the bears remain in command. The AVAX/USDT pair could slump toward the $32 to $27 support zone. Buyers are expected to defend this zone with all their might because if they fail in their endeavour, the pair may tumble to $20.</p> <p class="">Instead, if bulls push the price above $42, it will suggest the start of a sustained recovery. The pair may climb to $50, where the bears may again mount a strong defence.</p> <h2 class="wp-block-heading" id="shiba-inu-shib-price-analysis">Shiba Inu (SHIB) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Shiba Inu&nbsp;</a><a target="_blank" rel="noreferrer noopener">rose above the downtrend line on April 21, but the bulls failed to overcome the barrier at the 50-day SMA ($0.000028).</a></p><a target="_blank" rel="noreferrer noopener">
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    <figcaption class="wp-element-caption"><em>SHIB/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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  </div> <p class="">If the price pierces the 50-day SMA, it will suggest that the corrective phase may be over. The SHIB/USDT pair could rise to $0.000033 and attempt a rally to the solid resistance at $0.000039.</p> <p class="">Conversely, if the price turns down sharply and breaks below the 20-day EMA, it will suggest that the breakout above the downtrend line may have been a bull trap. The pair may then slide toward $0.000020.</p> <h4 class="wp-block-heading">Source – Rakesh&nbsp;Upadhyay</h4> </a>
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<p><a target="_blank" rel="noreferrer noopener">Source: </a><a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/latest-market-overview-24th-april-btc-eth-bnb-sol-xrp-doge-ton-ada-avax-shib-tbt86490.html">https://thebittimes.com/latest-market-overview-24th-april-btc-eth-bnb-sol-xrp-doge-ton-ada-avax-shib-tbt86490.html</a></p>

Latest Market Overview 24th April: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

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