ADA, MATIC, DOGE and Trade Levels for These 5 Coins!

Leading cryptocurrency experts have announced the trading levels for ADA, MATIC, DOGE and these 5 coins! Here are the details…

Popular analysts pointed to ADA, MATIC, DOGE and These 5 coins!

cryptocoin.com As we reported, Bitcoin (BTC) price managed to recover on April 3, although it initially declined. The surge came after OPEC+ members announced plans to cut oil production by a total of 1.65 million barrels per day by the end of the year. Some analysts expect this move to tighten supply, leading to higher pump prices. This, in turn, may increase inflation, requiring central banks to maintain their hawkish stance. On the other hand, initially, the United States dollar index (DXY) rose, but failed to sustain the intraday rally. This shows that market participants believe that the event will not cause a major deviation in the policy of the US Federal Reserve. A weaker DXY is generally considered positive for risky assets.

Cryptocurrencies have remained strong in the face of negative macroeconomic news and regulatory action against crypto firms over the past few days. When the price of an asset is not broken by negative news, it indicates that investors do not panic and sell their holdings. So, what are the next critical levels for cryptocurrencies? Experts explain…

Bitcoin (BTC)

The bears failed to even pull Bitcoin to the 20-day EMA ($27,105) on April 3, suggesting that the bulls are buying the intraday lows.

The rising 20-day EMA and the RSI in the positive zone indicate that the bulls are in control. Buyers will try to break through the $29,185 overhead barrier. If they manage to do so, the BTC/USDT pair could jump to $30,000. This level may witness strong defense by the bears, but a break above it remains highly likely. The pair could then gradually rise to $32,500. If the bears want to stop the up move, they will need to push the price below the 20-day EMA. If they do, a few short-term traders may rush to the exit. This could push the price towards the $25,250 breakout level.

S&P 500 index

The S&P 500 index (SPX) gained momentum after breaking out of the wedge formation. Buyers will try to push the price up to $4,200 which is likely to act as a strong barrier.

For the S&P 500, if the price drops from $4,200 but recovers from the 20-day exponential moving average ($4,002), it will indicate that the sentiment is bullish. This could increase the possibility of a move above the $4,200 to $4,325 resistance zone. On the contrary, the bears will try to protect the general resistance zone and pull the index back below the moving averages. If they do, a few aggressive bulls may fall into the trap. The index could later decline to the crucial support at $3,764.

US dollar index

The US dollar index fell below the 20-day EMA ($103) on March 17, indicating that the recovery is slowing.

Buyers tried to push the price above the 20-day EMA on April 3, but the long wick of the candlestick indicates that the bears are not relaxing. The bears will try to further strengthen their positions by pulling the price towards the horizontal support at $100.82. On the other hand, the bulls will try to push the price back above the 20-day EMA. If they do, the index could rise to the 200-day SMA ($106). Bears are expected to make a strong defense at this level.

Ethereum (ETH)

Ethereum once again bounced back from the 20-day EMA ($1,753) on April 3, indicating that the sentiment is positive and investors are buying on the dips.

The vital level to watch on the upside is $1,857. If the buyers break this hurdle, the ETH/USDT pair is likely to gain momentum. The $2,000 level could act as a strong resistance but it is likely to be surpassed. The pair might try to climb higher to $2,200 later. This level is likely to attract strong selling by the bears. The first significant support on the downside is the 20-day EMA. If this level is broken, the pair could drop as low as $1,680. A break and close below this support could turn the advantage back in favor of the bears.

Binance Coin (BNB)

The bulls tried to push BNB above the downtrend line, but the bears held their ground. This shows that the bears are selling on every small rally.

The 20-day EMA ($315) is flat and the RSI is just below the midpoint, indicating a balance between supply and demand. This balance will shift in favor of the bears if the price drops below $306. The BNB/USDT pair could then dive to the 200-day SMA ($290). Alternatively, if the price rises and rises above $318, it will indicate that lower levels continue to attract buyers. The pair could bounce back to the overhead resistance zone between $338 and $346 later.

Ripple (XRP)

Buyers try to stop XRP’s correction near the 38.2 percent Fibonacci retracement level of $0.49, while the bears are trying to push the price below this level.

A reversal from the current level will increase the likelihood of a rally above the overhead resistance area of ​​$0.56 to $0.58. A minor resistance is at the $0.65 level, but it is likely to be surpassed. The XRP/USDT pair could then move higher towards $0.80. Conversely, if the price continues to decline and dips below $0.49, it will indicate that short traders are able to book profits. The pair could then descend to the 20-day EMA ($0.46). This is an important level for the bulls to defend as a break below it could drop the pair to $0.43.

Cardano (ADA)

Cardano (ADA) rebounded from the 20-day EMA ($0.36) on April 3, marking a shift in sentiment from selling on rallies to buying on declines.

The ADA, the rising 20-day EMA and the RSI in the positive zone make it more likely to break above the neckline. If this happens, the reverse H&S pattern will be completed. In this case, the ADA/USDT pair could signal the start of a new uptrend. The target of this reversal pattern is $0.60. If the bears want to block the upside move, they will need to push the price below the 200-day SMA ($0.35). If they do, the pair could slide as low as $0.30.

Polygon (MATIC)

Polygon has been holding on to the 20-day EMA ($1.11) for the past few days, which shows that every small dip is bought.

The 20-day EMA is flattening and the RSI is just below the midpoint, indicating that selling pressure is easing. If buyers push the price above the $1.15 resistance, the MATIC/USDT pair could rise to the overhead resistance zone between $1.25 and $1.30. Conversely, if the bulls fail to sustain the price above the 20-day EMA, it will indicate that the bears are fiercely defending the level. Sellers will need to push the price below the 200-day SMA ($0.97) to regain control.

Dogecoin (DOGE)

DOGE broke above the 200-day SMA ($0.08) on April 1, but the bulls were unable to sustain higher levels. The bears sold aggressively and pushed the price below the 200-day SMA on April 2.

A minor positive point for the bulls is that the DOGE/USDT pair did not break below the 20-day EMA ($0.07). This indicates that lower levels continue to attract buyers. If the price rebounds from the 20-day EMA, the bulls will again try to push and sustain the price above the 200-day SMA. If they are successful, the pair could rally to $0.10 and then to $0.11. This positive view could be invalidated in the near term if the price declines and breaks below the key $0.07 support. The pair could later decline to support near $0.06.

Left (LEFT)

Solana continues to trade near the 20-day EMA ($20.83), suggesting that both the bulls and bears are not placing big bets.

Generally, periods of low volatility are followed by an increase in volatility, but the direction of the breakout is difficult to predict with certainty. Therefore, it is better to wait for the price to make a decisive move before creating trading positions. If the price rises above the downtrend line, the SOL/USDT pair can quickly rally to $27 and then to $39. Instead, if the price drops below $18.70, the pair could drop to $15.28 and then $12.

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