Bitcoin (BTC) has recovered most of the losses incurred in January, and traders’ attention is now focused on April, which has historically been a strong month for the cryptocurrency. According to data from Coinglass, the price of bitcoin in April ended three times in the red, with the worst monthly loss of 3.46% in 2015.

Although history favors bulls, the Whale Shadows indicator notes that more than 11,000 bitcoins have left their wallet, which has been dormant for seven to ten years. According to independent market analyst Philip Swift, the movement of similar volumes of dormant accounts usually leads to a significant increase.

Daily indicators for the cryptocurrency market. Source: Coin360
In addition to monitoring the cryptocurrency markets, traders should also monitor the performance of the US stock markets for clues because bitcoin has been closely correlated with the stock markets in recent weeks.

Can the bulls beat Bitcoin prices, choose altcoins and prolong the strong recovery from the downturns? Let’s check out the lists of the 10 best cryptocurrencies to find out.

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Bitcoin / US dollars
Bitcoin deviated from the 200-day simple moving average (SMA) ($ 48,291) on March 29 and fell to the 20-day exponential moving average (EMA) ($ 43,935) on April 1. The long tail of the April 1 candle indicates that buyers are accumulating falls.

BTC / USDT daily chart. Source: Trading View
The bulls will make a new attempt to push the price above the 200-day simple moving average. If they manage to do so, the BTC / USDT pair could rise to $ 52,000 as the bears can once again put up strong resistance.

Alternatively, if the price reverses down again from the 200-day SMA, this indicates that the bears have built a strong barrier at that level. After that, the pair can consolidate between a 20-day moving average and a 200-day simple moving average for several days.

An eruption and a close below the 20-day moving average may mean that the bullish momentum has slowed. This could lead to a drop to the 50-day simple moving average ($ 41,461).

ETH / USDT
Ether (ETH) deviated from the 200-day simple moving average ($ 3,488) on March 29, but a shallow correction and sharp rise point to strong demand at the lower levels.

ETH / USDT daily chart. Source: Trading View
A bullish 20-day EMA ($ 3,098) and Relative Strength Index (RSI) near the overbought zone indicate that the bulls are in control.

If buyers push the price above the 200-day simple moving average, bullish momentum may pick up and the ETH / USDT may rise to the psychological $ 4000 level.

Contrary to this assumption, if the price falls again from the upper resistance level, this means that the bears are not ready to surrender. The bears will then try to take the pair during the 20-day EMA. If successful, the pair could fall to the 50-day simple moving average ($ 2,860).

BNB / USDT
BNB broke the upper resistance at $ 445 on March 30 and 31, but the bulls failed to hold on to the higher levels.

BNB / USDT daily chart. Source: Trading View
The bears pulled the price to the 20-day moving average ($ 413) on April 1, but a strong setback from the level indicates active purchases of the bulls at the lower levels.

If the bulls push the price above $ 445 and continue to do so, the BNB / USDT could rise to the 200-day SMA ($ 467) and then move towards the psychological $ 500 level.

These positive prospects will be worthless in the short term if the price deviates from the current level and falls below the moving average. After that, the couple can stay in the $ 350 to $ 445 range for a few more days.

SOL / USDT
Solana (SOL) saw a tough battle between bulls and bears around the critical level of $ 122. The long week of the March 31 candle signaled sales at higher levels, but the Bears failed to keep the price below $ 122 on April 1.

SOL / USDT daily chart. Source: Trading View
This indicates that the bulls bought aggressively on the small decline. Buyers pushed the price above the upper resistance level of $ 122, indicating the start of a new potential upward trend.

The SOL / USDT pair can now challenge the 200-day simple moving average ($ 150). If the bulls break this barrier, $ 163 could be the next stop.

Conversely, if the price does not stay above $ 122, this means that demand dries up to higher levels. After that, the pair may fall to the 20-day moving average ($ 103).

XRP / USDT
Ripple (XRP) formed an intraday candlestick pattern on March 30, which resolved in favor of the bears on March 31 with a sharp bearish move. This indicates that buyers who could buy at lower levels aggressively left their positions.

Source: CoinTelegraph

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