cryptocoin.com As we reported, leading crypto analysts pointed to critical levels for BTC and these altcoin projects! Here are the details…
Weekly forecasts for BTC and 5 altcoins have come from popular crypto analysts!
Weekly crypto price analysis shows that most coins are trading with mixed reactions, with bulls and bears being equally active in the market. All week, the top cryptocurrencies have fluctuated between key support and resistance levels. However, Bitcoin has been consistently trading below $29,000 for the past few days. The analyst community is divided over its predictions for Bitcoin’s short-term future. Some predict that the value of Bitcoin could rise to $30,000, while others believe it may have reached a temporary high. BTC has been hovering between $27,000-28,000 for the past week.
Mike McGlone, senior macro strategist at Bloomberg Intelligence, noted that cryptocurrencies as well as the stock market, crude oil and copper may struggle to sustain the recent recovery due to tight bank liquidity levels. SkyBridge Capital founder Anthony Scaramucci mentioned in a conversation with Yahoo Finance that Bitcoin’s bear market is likely to end, but acknowledged that it was just speculation. However, Scaramucci points out that when compared to other asset classes, Bitcoin consistently outperforms over the long term.
Bitcoin (BTC)
Current Bitcoin price analysis shows that BTC is trading below the $29,000 mark and is expected to stay between that level over the next few days. The bulls are struggling hard to push prices above the $29,000 level. If it succeeds, BTC could rally towards $30,000 in the coming days. At the time of this writing, Bitcoin is trading at $28,056, up 0.52 percent in the last 24 hours. The 20 EMA on the daily chart indicates that a bullish crossover above the 50 EMA has occurred, suggesting that the bulls may have a higher chance to push the leading crypto higher. On the daily chart, the Relative Strength Index (RSI) is currently trading around 64.81, indicating that there is still an upside area before BTC hits the overbought zone.
The MACD indicators on the daily chart indicate that a bullish crossover is taking place, which could mean more bullish for BTC. The 50-day moving average indicator is currently above the 200-day moving average indicator, indicating that the dominant uptrend in leading crypto Bitcoin prices continues.
Ethereum (ETH)
According to weekly crypto price analysis, Ethereum has been trading in a tight range of $1,778-18,000 over the past seven days. On April 5, Ethereum recorded an all-time high of $1,943 after which it fell briefly. However, Ethereum has managed to stay above $1,800 over the past few days and is currently trading at $1,870. Ethereum’s market cap is currently hovering around $225 billion and remains strong in the market. Trading volume for Ethereum was also strong, indicating increased investor interest in the second-largest cryptocurrency by market cap.
Weekly technical indicators show that the 50-week moving average is slowly rising above the 200-week moving average, suggesting a bull run for Ethereum. The Relative Strength Index is trading in the 40-60 range, suggesting there is room for more bullishness before hitting overbought levels. Meanwhile, the MACD indicators are bullish on the weekly chart, suggesting that Ethereum could hit higher highs in the near future.
Binance Coin (BNB)
Binance Coin has been trading in an uptrend for the past seven days, with prices reaching as high as $316. Binance Coin is trading at $312, up 0.90 percent in the last 24 hours. The support level for Binance Coin is $310, which is texted when the Bears try to lower prices. The resistance level is currently at $312, which could be a crucial level for Binance Coin to break for further recovery.
Binance Coin’s technical indicators have dropped quite a bit over the past week. The fact that the MACD indicators hover around the zero line indicates that neither the buyers nor the sellers have a significant advantage in the market. The RSI indicator is currently trading around 52.14 and there may be room for further declines before BNB reaches oversold levels.
Cardano (ADA)
Cardano’s weekly crypto price analysis shows that the cryptocurrency has been trading with mixed reactions for the past seven days. Bulls and bears are struggling hard to take control of prices and both sides have had some success. Cardano is trading at $0.389, up 2.54% in the last 24 hours.
Cardano’s technical indicators show that the 50-week moving average is slowly rising above the 200-week moving average, indicating that a bullish crossover is attempting to occur. The Relative Strength Index is currently trading around 49.72, suggesting there is still room for more bullishness before ADA hits the overbought territory. Meanwhile, the MACD indicators are showing a bearish cross on the weekly chart, indicating that the bears may have the upper hand in pushing prices down.
Ripple (XRP)
XRP has been trading in a range-bound pattern over the past seven days, with prices reaching $0.5284 and a low of $0.4871. Ripple is trading at $0.5107, up 0.95 percent in the last 24 hours. The support level for the XRP/USD pair is $0.5142, which was tested when the bears tried to push prices down. The resistance level is currently at $0.5044 which could be a crucial level that must be broken for Ripple to recover further.
Technical indicators suggest that there may be room for more bullishness before Ripple reaches the overbought zone. The moving average indicator is currently sitting at $0.4158, which is slightly above the 50-week moving average, suggesting that Ripple may soon exit its range-bound model and go higher. The MACD indicators are bullish on the weekly chart, which shows that the buyers are slowly gaining the upper hand in the market.
Left (LEFT)
Solana has traded in a narrow range over the past seven days, with prices falling as low as $20.05. At the time of this writing, Solana is trading at $20.54, up 0.58 percent in the last 24 hours. The support level for the SOL/USD pair is $20.33, and it was tested when the bears tried to push prices down. The resistance level is currently at $20.71 which could be a crucial level that SOL needs to break for further recovery.
Solana’s technical indicators suggest there may be room for more bullishness before SOL reaches the overbought territory. The moving average indicator is currently hovering around $21.65, slightly below the 50-week moving average, suggesting that Solana may soon exit its range-bound model and move higher. The MACD indicators are bullish on the weekly chart, which shows that the buyers are slowly gaining the upper hand in the market.
General comments of analysts
Overall, the crypto market has been trading with mixed reactions over the past seven days. Bulls and bears are struggling hard to take control of prices and both sides have had some success. Selling pressure is increasing in the market and this could be a sign of further declines for some cryptocurrencies. However, buying pressure is still present in the market and this could be a sign of further bullishness before some coins reach oversold levels. It will be interesting to see how the crypto markets will react in the coming days.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.