"Top 10 Cryptocurrency Price Analysis: BTC, ETH, XRP, BNB"

"Top 10 Cryptocurrency Price Analysis: BTC, ETH, XRP, BNB"

Bitcoin Price Analysis

Bitcoin (BTC) is showing strength as buyers have pushed the price above $82,500, but higher levels are likely to attract solid selling from the bears. CryptoQuant analysts said in a recent market report that Bitcoin could face resistance around $84,000, but if the level is surpassed, the next stop may be $96,000.

Although trade tensions between the United States and China have flared up, institutional crypto investment firm Bitwise remains bullish on Bitcoin. Bitwise chief investment officer Matt Hougan said in a post on X that the firm’s previously predicted year-end target of $200,000 for Bitcoin remains in play.

Ethereum Price Analysis

Ether (ETH) rebounded off the $1,368 support on April 9, but the bulls are struggling to sustain the higher levels. The downsloping moving averages and the RSI in the negative territory suggest that the bears hold the edge.

If buyers want to prevent the breakdown, they will have to quickly push the price above $1,754. That clears the path for a rally to the breakdown level of $2,111. This is an essential level for the bears to defend because a break above $2,111 suggests a short-term trend change.

Ripple Price Analysis

XRP rose back above the breakdown level of $2 on April 9, but the recovery is facing selling at the 20-day EMA ($2.09). If the price turns down from the 20-day EMA, the bears will try to sink the XRP/USDT pair to the critical support at $1.61.

Alternatively, if the price rises above the 20-day EMA, it suggests that the markets have rejected the breakdown below $2. The pair could rally to the resistance line, where the bears are expected to mount a strong defense.

Binance Coin Price Analysis

BNB has reached the 20-day EMA ($590), which is an important near-term resistance to watch out for. Sellers will try to defend the zone between the 20-day EMA and the downtrend line, but if the bulls do not give up much ground, it improves the prospects of a break above the overhead resistance zone.

Contrary to this assumption, if the price turns down sharply from the overhead resistance, it suggests that the bears have not given up. That could keep the pair stuck inside the triangle for a while longer.

Solana Price Analysis

Solana rose above the breakdown level of $110 on April 9, but the bulls are facing resistance at the 20-day EMA ($121). A minor advantage in favor of the bulls is that the bears did not allow the price to slip back below $110 on April 10.

If the bulls kick the price above the 20-day EMA, the SOL/USDT pair may rally to the 50-day SMA ($133) and then to $153.

Dogecoin Price Analysis

Buyers have successfully defended the $0.14 in Dogecoin but are yet to clear the moving averages. If the price turns down sharply from the moving averages, it suggests that the sentiment remains negative and traders are selling on rallies.

Conversely, a break and close above the moving averages will be the first sign of strength. There is resistance at $0.20, but if the bulls overcome it, the pair will complete a double-bottom pattern.

Cardano Price Analysis

Cardano has reached the 20-day EMA ($0.65), which is a strong near-term resistance to watch out for. If the price breaks above the 20-day EMA, the ADA/USDT pair could reach the 50-day SMA ($0.71).

On the contrary, if the price turns down sharply from the 20-day EMA, it signals that the bears are selling on every minor rally. That heightens the risk of a break below the $0.50 support.

UNUS SED LEO Price Analysis

UNUS SED LEO rose back above the uptrend line on April 9, signaling solid demand at lower levels. If the price breaks above the 20-day EMA, the LEO/USD pair could reach the overhead resistance at $9.90.

If the price turns down from the 20-day EMA, it suggests that the bears continue to sell on rallies. The bears will then make one more attempt to sink the pair below $8.79.

Chainlink Price Analysis

Chainlink has been trading inside a descending channel pattern for several days. The moving averages are expected to act as a stiff resistance on the way up.

If buyers propel the price above the moving averages, the LINK/USDT pair could pick up momentum and rally to $16 and later to $17.50.

Avalanche Price Analysis

Avalanche rebounded sharply off the $15.27 support on April 9, indicating solid buying at lower levels. There is resistance in the zone between the 50-day SMA ($20) and the downtrend line, but if the buyers overcome it, the AVAX/USDT pair could surge to $23.50.

Sellers are expected to aggressively defend the $23.50 level because a break and close above it will complete a double bottom pattern. This reversal setup has a target objective of $31.73.

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.

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