Here’s What Next For Bitcoin & Ethereum Price This Week – Expert Reveals Critical Price Levels
Crypto enthusiasts are eagerly watching Ethereum (ETH) and Bitcoin (BTC) as a top analyst, Justin Bennett, shares valuable insights on their current status.
Ethereum at $1,890 next week?
According to Bennett in his recent tweet, Ethereum is at a critical point of around $1,835. This level controls ETH’s next move. Will it rise above $1,890 next week? Will they resist? Ethereum is currently valued at $1,831, below Bennett’s important threshold. However, breaking above $1,835 might push Ethereum to $1,890 in the coming week, while resistance could spell a struggle.
Ethereum’s price is currently at $1,831, close to this critical level.
Bitcoin Price Analysis
In relation to this, Bennett highlights the importance of Bitcoin’s performance in today’s close in his recent Daily Price Action newsletter. It’s all getting heated as Bulls are striving to reclaim the $26,500-$26,700 range and the daily close will provide crucial insights into the market’s direction. The crypto community eagerly awaits the outcome.
GM fam. ☕️$BTC bulls are trying to reclaim that $26,500-$26,700 area today.
Daily close will be key!#Bitcoin https://t.co/N87DeO7DEc pic.twitter.com/2deq4ZPD2G
— Justin Bennett (@JustinBennettFX) May 26, 2023
Notably, Bitcoin’s recent close below $26,500 which happened first time since mid-march, a support level held for months, has raised concerns. Currently, BTC is testing this level as resistance, with bulls aiming for a close above it. If successful, the $26,500-$26,700 range may regain its status as support. However, if BTC fails to reclaim this range, a potential decline towards $25,000 is projected by the analyst.
The trajectory of Bitcoin, if it tests the support level, depends on how the market responds to the channel support and the $25,200 horizontal level. Bennett advises against ruling out a reclaim this week, considering the market’s indecisiveness in recent times. A daily close above $26,500 and $26,700 would confirm a false breakdown and pave the way for $27,600, with a potential liquidation cluster at $27,800.
Lido DAO Price Jumps Over 50% in a Week, Outperforms BTC & ETH Price- Here’s Why
Lido DAO, the Ethereum-dependent Liquid Staking Derivatives (LSD) platform, is spearheading the altcoin surge today with a significant increase. As the indigenous token of the platform, it has demonstrated considerable value to Ethereum stakers even before the Shapella Upgrade, leading to its recent notable price performance. Additionally, the recent network upgrade has sparked bullish sentiment among long-term investors.
LDO Price Witnesses Massive Inflow
The recent surge is driven by the positive momentum in the Lido ecosystem, triggered by the roll-out of Lido V2. This significant upgrade, which has been under development for an extended period, introduced two key features – withdrawals and a staking router – upon its activation.
The recovery in LDO’s price is concurrent with the recent net positive influx into Ethereum’s proof-of-stake (PoS) contract. For example, the net amount of ETH staked in its PoS contract stood at 19.27 million ETH on April 11, just a day before the Shapella upgrade.
This figure dipped to 90,704 a week later, before steadily rebounding, based on data from Nansen. As of May 16, the Ethereum PoS contract held over 20 million ETH, highlighting the rising demand for liquid staking service providers such as Lido DAO. This likely boosted the price of its governance token, LDO, fitting well into the narrative.
The upswing in LDO’s value was also backed by large-scale Lido DAO holders in the days preceding the Lido V2 launch, as per data from Lookonchain. This could imply that the “buy the rumor” strategy potentially played a role in the price surge of LDO.
What’s Next For Lido DAO Price?
The present price behavior of the LDO token reflects significant enthusiasm among Lido DAO ecosystem investors, triggered by this recent upgrade. Data indicates that large-scale holders, or ‘whales’, commenced a notable accumulation phase approximately a week prior.
Analyzing from a technical perspective, LDO’s 50% resurgence originated around the lower trendline of an existing falling wedge pattern. Traditional market analysts typically view a falling wedge as a bullish reversal signal.
As of writing, LDO price trades at $2.24, surging over 3% in the last 24 hours. Historically, the LDO/USD pair has seen similar recoveries, with each bounce back pushing the price towards the upper trendline of the wedge. Now, as the price hovers around this upper trendline again, LDO could either break out or retreat to retest the lower trendline.
If LDO breaks out, the price could surge towards $3.3 in the next few weeks, marking approximately a 50% increase from the current levels. Alternatively, if a pullback occurs, the price could drop to around $1.5, a decline of about 30% from today’s price. This level has previously acted as both a support and resistance point.
Analyst Micheal van de Poppe Lists Out Top Altcoins for the Week!
Crypto markets witnessed choppy trends during the past weekend where the majority of the tokens, including Bitcoin and Ethereum traded sideways. While the global crypto market cap witnessed a jump of 1.27% and a rise of 16% in the trading volume. This led the BTC price to rise slightly above $27,000, however, the bearish influence continues to be all around.
In the meantime, some of the altcoins are displaying possibilities of undergoing a diverse action ahead. Top analyst, Micheal van de Poppe lists out 4 altcoins to keep a close watch this week.
PEPE (PEPE)
PEPE coin price witnessed a slight increase over the past few days that raised the levels by nearly 100% to mark the highs around $0.0000021. Despite a minor outback, the price continues to trade around the gained levels, indicating the token preparing itself for a giant price action in the coming days. The analyst also points out the plateaued trend signaling a strong accumulation phase.
“This one is making a bear market relief rally, I would say.
Needs to hold above 173000, then we could see continuation towards 24000.
If 1730000 is lost, then I’m looking at playing a short and trying to catch a long to 85000,”
The Graph Token (GRT)
The Graph token has been trading under a bearish trend and after breaking from its initial support, is currently heading towards the next support levels. Presently, in the short time frame, the price is hovering within a very narrow range that may certainly appear the price to be within an accumulation phase, preparing for a breakout.
“Overall quite simple.
Lost crucial support at $0.13, which needs to be reclaimed before I’m interested.
Otherwise, I’d be looking at the area at $0.097 for a potential long play,”
Quant (QNT)
After a steep downtrend, the QNT price is trying to hold at one of the crucial support levels, that may trigger a decent rebound as it did before. As the trend has lowered its resistance, the weakness of the bulls also emerges, but at the same time, the possibility of accumulation of strength cannot be eliminated. Therefore, in the next few days, a decent price action may be expected.
“Interesting price action, as we’re hitting HTF support here
Am I interested? Not yet. I’d prefer to have a flip of $112 before activating a long and that one can run fast and quick to $175.
Otherwise, looking at $76,”
Avalanche (AVAX)
Avalanche price was undergoing a parabolic move since the start of 2023, but the recent price drop has compelled the price to slice through the lower trend line. However, the AVAX price is managing to hold above the crucial support as the bulls may have entered the game. Therefore, a rise may be expected which may assist the price to test higher targets.
“ In a point of interest, which in comparable with other altcoins.
However, trend remains to be downwards, if LTF gives confirmation, I’d be pulling a long here.
Reclaim $16.50 is necessary I’d be looking at $12 for longs,”
Bitcoin Leads a Market Pullback Above $26K- Here’s How BTC Price May Perform in Coming Week
In a world where economic uncertainties are rife, Bitcoin has once again proved its resilience, sparking discussions about its goals of a bullish rally. This week, the BTC price surged past the $28K milestone, buoyed by a positive Consumer Price Index (CPI) report that hinted at a recovering economy. The rally, however, was short-lived, and within a few hours, Bitcoin had dipped below the $26K mark. Yet, as the dust settles, Bitcoin is once again rallying, gaining traction amid economic chaos, and leaving traders in eager anticipation of a potential bullish comeback next week.
Bitcoin Faces Pressure from Sellers
The current downward rally in the BTC price chart has turned out to be profitable enough for short-term sellers as Bitcoin shows extreme volatility. Glassnode’s data reveals that the majority of short-term Bitcoin holders started making profits once the Bitcoin price eclipsed $25,200.
This suggests that numerous short-term holders were already in a profitable position, which could potentially urge them to liquidate their Bitcoin assets, possibly resulting in a price decline. The Spent Output Profit Ratio (SOPR), indicating that many Bitcoin addresses were selling at a loss, dipped below 1.
A SOPR value less than 1 signifies that more coins are being sold at a loss than a profit. This could hint at a potential market bottom, as it implies that most sellers who invested near peak prices have now divested. Nevertheless, the selling pressure experienced by short-term holders was not mirrored by those who had held their Bitcoin for longer periods. As per data from Santiment, the Market Value to Realized Value (MVRV) ratio has seen a considerable decrease in recent weeks.
This suggested that Bitcoin was no longer overvalued and that long-term holders lacked a strong motive to sell their Bitcoin assets.
What to Expect from the BTC Price Next Week?
On the 4-hour price chart, Bitcoin is showing support from bulls as the price has successfully recovered from $26K. BTC’s price is currently attempting to break above the EMA20 resistance level, which may drive the price further to a new resistance level.
As of writing, Bitcoin price hovers around $26,863, gaining over 0.8% in the last 24 hours. The asset continues to hover within a range-bound zone at $26.5K-$27K. However, bulls may gain confidence if the BTC price surges above $26.9K, as the asset may witness a spike in long positions near this level.
It is expected that bears may try to slump the price to $26.5K again in the next 2-3 days; however, a rebound is on the horizon by the next week as bulls are on their way to send the price above EMA50 at $27.5K.
Top Altcoins to Watch Next Week: SOL, BNB, MATIC Price May Break Resistance
As the crypto market continues to demonstrate its high volatility influenced by recent economic fluctuations, a trio of altcoins – Solana (SOL), Binance Coin (BNB), and Polygon (MATIC) – are poised to break through resistance levels next week. The recent uplift in the crypto market has been sparked by a positive Consumer Price Index (CPI) report, a critical economic indicator that triggered a surge in Bitcoin’s (BTC) price and altcoin market; however, there has been a steep decline since then. Amid all these, experts believe there may be a potential rebound for the altcoin market next week.
These Altcoins are Aiming for Potential Breakout
The crypto market has been hovering around the extreme red zone for the last few days, which occurred following the CPI report. Though investors gained some bullish confidence following Bitcoin’s breakout above $30K, the recent sharp collapse has stunned the market with a possibility of more price dips ahead. However, analysts predict it is the perfect opportunity to dive deeper into potential altcoins, as there is a possible breakout next week.
Solana (SOL) Price Analysis
Over the last four days, Solana has been hovering around its immediate support level of $19.82. This indicates that while investors are capitalizing on price dips, they haven’t yet managed to initiate a significant recovery.
As of now, the SOL price is trading at $20.21, gaining over 2.5% in the last 24 hours. The 20-day EMA has begun an upward trend, and the RSI is recovering from its bearish territory, suggesting a slight advantage for the bulls. If the bulls manage to break above $21.5, it could mean that the price is getting enough buying pressure to jump to its next resistance level at $23-$25. In this scenario, the price might attempt a surge toward $27.
On the other hand, if Solana’s price dips further from its current level or follows a downtrend below the 38.6% Fib level, it signals the persistence of negative market sentiment. Consequently, the SOL price could potentially drop to $16.
Binance Coin (BNB) Price Analysis
BNB’s downward trajectory continued, approaching its immediate support at $300. Currently, the BNB price is trading at $310, with a surge of over 1.3% from yesterday’s rate. In the short term, BNB may soon attempt to surge above its EMA200 on the 4-hour price chart.
This could pave the way for the asset to ascend toward the overhead resistance at $338. As it stands, the pair could keep oscillating within the wide range of $300 to $338 next week.
Polygon (MATIC) Price Analysis
MATIC price is currently witnessing massive volatility as bulls are attempting to push the price from its fear zone. MATIC price is hovering at $0.85, surging over 0.8% from yesterday’s price.
If MATIC price breaks above its EMA50 resistance at $0.89, the price can skyrocket to $0.99 by next week. However, a failure to surge above $0.89 will strengthen the sellers’ position, and the asset may drop below $0.8.
Crypto Market Analysis: Top Predictions for Bitcoin, Ethereum, and XRP for the Coming Week!
The post Crypto Market Analysis: Top Predictions for Bitcoin, Ethereum, and XRP for the Coming Week! appeared first on Coinpedia Fintech News
Bitcoin (BTC) Price Analysis
- The Bitcoin price is trading within a rising parallel channel and the recent plunge may compel the price to reach the lower support
- The RSI is heading towards the oversold regions and may land up in this zone, dragging the price below $25,000
- Here a fine rebound may trigger that may revamp of a fine bullish trend lifting the price back above $30,000 in the next couple of months
Ethereum (ETH) Price Analysis
- The Ethereum price has been maintaining an elevated range since the beginning of the year but the bearish volume has accumulated currently
- The selling pressure has surged as the MACD continues to remain bearish at the moment as it may undergo a bearish crossover
- Besides, the price is approaching the lower support of the Bollinger Bands and preparing to rebound which may rise toward the middle band
Ripple (XRP) Price Analysis
- The Ripple price trend also has been rising as the bulls offered a significant push ever since the beginning of the year
- The price is currently testing one of the major support levels, which has acted as a strong resistance level in the past
- However, the price appears to be accumulating gains above these levels which may trigger a significant upswing toward the middle bands of the channel
Crypto Market Analysis: Here’s What Awaited for Bitcoin (BTC) & Ethereum (ETH) Price This Week!
The fresh trading day began with a significant plunge that wiped out another 100 million from the crypto markets. While the volume remained elevated by nearly 15%, the Bitcoin price continues to drop and is approaching the support at $27,500. Besides, Ethereum’s price maintains some strength and hovers close to $1850 with just a 0.47% drop in its price.
What can you expect from the two cryptos amid the bearish market sentiments? When will they trigger a rebound? Will BTC & ETH price surge above $30,000 & $2000 this month? Let’s see.
The short-term trajectories for both cryptos appear to be extremely bearish carrying the possibility of reaching the crucial support, which is at a certain distance presently. Therefore, the probability of a bullish breakout may not be discarded completely as a popular analyst, Crypto Tony frames a bullish layout for the top dominant cryptos.
Talking about Bitcoin, the analyst says that the BTC price has been displaying the possibility of a bullish breakout but only after a significant drop.
The Bitcoin price has formed a head-and-shoulder pattern and is currently trading at the neckline of the consolidation. Therefore, a breakout from these levels may drive the prices lower to the immediate support below $25,000, close to $24,000.
“Once we lose $27,000 then things should start escalating from here. $25,200 – $24,200 are my main targets for now and where i will shed some profit,”
However, the analyst expects a bounce from the lower support after a brief consultation around these levels. Moving to Ethereum, the analyst believes the second-largest crypto may be primed for a bearish pullback in the coming days.
A similar pattern is seen with the Ethereum price as the trend has reached the neckline of the consolidation. It is important now to hold at this level and trigger a rebound, or else it may enter the same consolidation area that it was stuck in previously for quite a long time.
“Break that support zone at $1,830 and the short trigger begins on Ethereum.Exciting times to be able to trade this comfortably again.
We have had a choppy ride in this range the last few weeks, so now we begin the fun,”
Memecoin Mania: What To Expect From PEPE, SHIB, DOGE Price Next Week?
In the dynamic crypto market, memecoins have swiftly seized the spotlight with their rapid ascent. The current memecoin frenzy, led by the frog-themed PEPE, reveals strong potential for these tokens to stage a remarkable comeback next week. Amid Bitcoin’s volatility, meme-based currencies like PEPE, SHIB, and DOGE have consistently surpassed expectations and demonstrated resilience against market challenges. Consequently, traders anticipate a surge in meme token values in the upcoming week.
What is Waiting For Memecoins Next?
The frog-inspired digital currency, PEPE, has leaped into the spotlight in the cryptocurrency realm with an astonishing 1,500% increase in merely two weeks. Both investors and traders are rushing to acquire the meme-based coin, which has now entered the top 50 cryptocurrencies by market capitalization, surpassing the one-billion-dollar threshold within weeks. Analysts expect the memecoin rally to continue next week with minor volatility as Bitcoin finds no support from market bulls.
PEPE Price Analysis
The recent upswing of Pepe is partially credited to Binance’s decision to feature both Pepecoin and Floki Inu (FLOKI) on its “innovation zone” platform. This action by the well-known exchange indicated a degree of mainstream recognition for these meme-based currencies, which probably played a role in boosting their appeal among traders.
As of writing, PEPE price trades at $0.0000026, declining over 5.3% in the last 24 hours. After facing resistance near $0.0000045, the PEPE coin faced downfall and dropped below its 38.6% Fib channel. On the hourly price chart, PEPE has made a steep decline and is currently trading below EMA-50, hinting that bears are gaining control.
In the next few days, the PEPE token may decline more to its support level of $0.00000183 if it fails to surge above $0.000003.
Dogecoin Price Analysis
Major investors within the Dogecoin network have steadily accumulated DOGE tokens since April 5. According to information from the cryptocurrency analytics provider Santiment, DOGE whales possessing between 10,000 and 100,000, as well as 100,000 and 1,000,000 DOGE tokens, have acquired close to 200 million Dogecoins.
On the daily price chart, DOGE has taken support near $0.075 after falling heavily due to PEPE’s rise. DOGE price is currently trading at $0.077, dropping nearly 2.7%. The RSI line has started to climb near its midline, showing the hope of a bullish reversal next week.
If Dogecoin breaks above $0.08 and overcomes its resistance at EMA-200, it will continue a bullish surge next week to $0.09.
Shiba Inu (SHIB) Price Analysis
After witnessing a sideways trading session for several weeks, SHIB’s price has finally given a clear move as its price broke below its critical support level. SHIB’s price lost its support near $0.00000976 as bears emerged to short the trade.
SHIB’s price is currently hovering near $0.00000943, dropping over 5% from yesterday’s rate. If bulls don’t take charge immediately, SHIB’s price will continue to decline and reach its bottom level at $0.0000086.
Top Altcoins to Watch Next Week: SOL, XRP, ADA Price May Breakout Soon
In a week influenced by a series of macro news, the crypto market has been on a heart-stopping roller coaster ride that has left even the most seasoned investors holding their breath. Following the collapse of First Republic Bank and a series of interest rate hikes by the Federal Reserve and the European Central Bank, the crypto market has seen widespread turbulence, with Bitcoin struggling to hold $29K. Amidst this stormy backdrop, market watchers are eager to uncover which altcoins will take center stage and soar to new heights in the coming week.
A Bullish Week For These Altcoins
As Bitcoin’s price witnesses a fear zone near $29K-$30K, it has left investors to consider other cryptos amid volatility to safeguard their profit. Moreover, there is currently a growing demand in the altcoin market as it is less impacted by macro news and continues to bring profitable returns to investors.
Solana Price Analysis
Over the last three days, Solana has experienced limited price fluctuations, indicating uncertainty among both buyers and sellers. The relatively stable moving averages and RSI close to the midpoint imply that the SOL value might continue to hover within the broad range of $20 to $25 for a while. A breakout may occur soon as the SOL price attempts to break above its current range-bound area and overcome EMA-200. In that scenario, Solana could touch $30.
As of writing, Solana trades at $22, gaining 0.04% in the last 24 hours. However, a price drop is predicted if the SOL token remains below the 50-day EMA at $22, which would signal that bears hold a short-term advantage. In that case, the price may potentially decline to $18.
XRP Price Analysis
XRP’s price has become a hot topic amid the legal battle between Ripple and the SEC. XRP exhibited an inside-day candlestick formation followed by a Doji candlestick pattern on May 5, indicating that both bulls and bears are cautiously approaching the market without placing large bets. Despite a modest increase in XRP’s price today, its technical stance on the daily chart remains unchanged.
The moving averages have undergone a bearish crossover, and the RSI is in negative territory, suggesting that bears hold a minor advantage. They will attempt to push the price down towards the robust support level of $0.43. In the meantime, XRP continues to trade within a narrow range between $0.44 support and $0.48 resistance.
As of writing, XRP trades at $0.45, declining by 1.5% from yesterday’s rate. A breakout may take place if bulls gain control at $0.48 and push the price above $0.5.
ADA Price Analysis
Cardano experienced a dip below the 50-day SMA at $0.38 today, but the long tail on the candlestick indicates that bulls are vigorously defending support around the $0.37 mark. ADA price is trading at $0.37, with a decline of 3.5%.
Buyers are currently attempting to elevate the price above the 20-day EMA at $0.39, yet the bears remain steadfast. The downward-sloping 20-day EMA and the RSI just below the midpoint imply a slight advantage for the bears.
To counteract this decline, bulls need to swiftly push the price above the neckline of the inverse head-and-shoulders pattern, which could raise the likelihood of a rally to $0.46 and eventually $0.52.
SUI, PEPE & ARB Price To Crash Heavily In Coming Week – Analyst Predicts Low Levels
The global economy remains unstable, and rising costs have prompted many to consider Bitcoin as an investment option. However, before jumping on the bandwagon, it’s critical to consider what Altcoin Sherpa, a well-known cryptocurrency expert, has to say.
Sherpa’s Positive Bitcoin Forecast
Despite recent gains, Altcoin Sherpa warns that Bitcoin is trading sideways with no discernible pattern. For the past 48 days, Bitcoin has fluctuated between $25,000 and $30,000, and its strength is why many experts prefer it to Gold and fiat money, which are collapsing due to the global crisis.
SUI Network
Sui Network (SUI) is gaining traction and attracting traders’ attention. Based on Fibonacci retracement levels, Altcoin Sherpa believes that the blockchain will drop back to the $1.29-$1.27 zone. However, he warns that if Bitcoin falls, SUI might fall even more to $1.24. Despite this, Sherpa feels that as long as BTC is stable, SUI is in an accumulation phase. Sui Network’s value has dropped by 1.9% in the last 24 hours and is now at $1.31.
Pepe (PEPE)
The trader then speaks about Pepe (PEPE), a meme coin that debuted last month, and its recent price spike. He anticipates that Pepe and other meme coins will lose value. According to Sherpa, PEPE variants are hot right now, but all other meme coins are on the rise. These coins will all expire and have a short existence. He believes the next few weeks will be a terrible shambles, as they always are.
Arbitration (ARB)
Finally, Sherpa uses EMAs and Fibonacci retracement levels to forecast a possible drop in Arbitrum’s price to the $1.15-$1.20 zone. He claims lower liquidity as a result of the popularity of meme currencies and “coins of the month.”
Overall, Bitcoin has increased by 1.5% in the last 24 hours to $29,305, while Sui Network has decreased by 1.9% to $1.31 and Arbitrum has increased by 3% to $1.36. Despite the volatility of the cryptocurrency market, Sherpa’s analysis can assist investors in making more informed decisions.
PEPE Coin Shorter’s to Get Wrecked; PEPE Price Aiming to Hit $0.000005 Coming Week!
The crypto space is now witnessing the much-awaited ‘Memecoin Mania’ which was ignited by the brand new token PEPE. The price has soared monstrously by nearly 3000% since its inception and also lifted the other tokens within the space. Moreover, the token was listed on various exchanges, starting with Binance, which has offered the token the required boosts to propel it high.
Meanwhile, some still believe the rally could be temporary as the markets have witnessed a fractal downfall in the past few days, due to which the market participants continue to remain within FEAR. However, the current trade setup appears to be in favor of the bulls, and hence, the traders who believed the price may face a bearish pullback may get wrecked in the coming days.
The PEPE coin began to surge after consolidating within a narrow range for some days. Presently, the price bounced off the average or middle levels of the Bollinger bands and leaped high to reach the upper bands. Although the price dropped considerably below average levels, the fresh rebound that has been triggered is believed to raise the price towards the upper bands in the coming weekend.
However, the matter of concern lies within the ADX, or the strength of the rally, which is dropping, indicating the price may remain within the same consolidation as the bulls and the bears are presently passive. Moreover, the PEPE price may remain elevated despite the fact that funding rates continue to go negative and could also top amid these levels.
Top Altcoins Preparing For A Breakout Next Week: SOL, MATIC And LTC Prices To Surge Higher
Bitcoin is often considered the king of the hill. But lately, it seems like some of its younger siblings, the altcoins, are preparing to make their own mark in the industry. In fact, following the recent volatility in Bitcoin, many investors have started to switch to altcoins, leading to increased interest and potential for breakout performances in the coming weeks.
These Altcoins May Turn Your Portfolio Green
The recent volatility in Bitcoin has forced investors to look beyond the king of the hill and consider the potential of altcoins. While there are many promising projects in the industry, Solana, Polygon, and Litecoin are all preparing for potential breakouts in the coming weeks.
Solana Price Analysis
The buzz surrounding Solana (SOL) is gaining momentum as an increasing number of individuals are contemplating getting involved. The most recent Messari report reveals that the USD-denominated total value locked in Solana experienced a QoQ surge of 23.5%.
As of writing, the SOL price trades at $23.75, gaining over 6.5% from yesterday’s rate. Solana has successfully broken out of its bearish range as buyers provided momentum near the $22.8 level. In the event that the price surpasses the immediate resistance of EMA-200 at $25.16, it would indicate that the bulls have successfully absorbed the supply.
This would prompt the SOL price to endeavor a rally towards the formidable overhead resistance at $29.77, which serves as a crucial level for the bulls to conquer. If the bulls succeed, it may ignite a new upward movement, causing the price to surge to $38.8.
However, if the bears aim to thwart the rally, they must swiftly push the price beneath the EMA-100 support level at $21.6. This could potentially plunge the SOL token to the following support level at $16.49.
Polygon (MATIC) Price Analysis
Recently, Google Cloud partnered with Polygon to help developers to deploy their web3 products, sparking increased confidence among investors. Currently, MATIC price trades at $1.02, gaining nearly 3% in the last 24 hours.
Polygon’s long tail indicates that the bulls are vigorously defending the support level at $0.94, but the bears haven’t surrendered yet. However, the downsloping 20-day EMA at $1.05 and the negative RSI suggest that the bears currently have the upper hand. The sellers will attempt to halt the recovery in the area between the 20-day EMA and the resistance line. A breakout will likely occur next week above $1.08, sending the token’s price to $1.17.
If the price retreats from the resistance line, it will indicate the possible formation of a descending triangle pattern, which will be confirmed by a breakdown below $0.93. If this support level is breached, the MATIC price may experience a decline to $0.7.
Litecoin (LTC) Price Analysis
The current day has been highly volatile for Litecoin, with both bullish and bearish attempts to seize control proving unsuccessful. Typically, such volatile days are succeeded by a period of range contraction lasting a few days.
As of writing, LTC price trades at $91, surging over 2.7% in 24 hours. If LTC holds above EMA-20, it may break the resistance of $102 next week.
Crypto Markets On Edge: Top 6 Events To Watch This Week
The cryptocurrency market is currently in a state of flux as it faces mounting regulatory scrutiny from the SEC, with Bitcoin and Ethereum experiencing significant weekly declines.
However, crypto investors and enthusiasts alike are eagerly anticipating key events this week that have the potential to sway the market in a new direction.
Curious? Read on!
Consumer Confidence Data – Tuesday (25th April)
The release of consumer confidence data can provide valuable insights into the general sentiment of consumers in the economy. High consumer confidence can indicate favorable economic conditions and potentially lead to increased investment in cryptocurrencies as a result. Conversely, low consumer confidence can signal economic uncertainty and may lead to a bearish crypto market.
New Home Sales Data – Tuesday (25th April)
New home sales data can serve as an indicator of the health of the housing market and the overall U.S. economy. Strong new home sales figures could signify a growing economy, positively impacting the crypto market. However, weak sales numbers could dampen market sentiment and lead to a downward trend in cryptocurrency prices.
Q1 2023 GDP Data – Thursday (27th April)
The Q1 2023 GDP data release can provide a snapshot of the overall economic growth during the year’s first quarter. A robust GDP growth rate can positively influence the cryptocurrency market, suggesting a strong and growing economy. On the other hand, a weak GDP growth rate might contribute to a bearish crypto market, as investors may seek safer investment options.
15%+ of S&P 500 Companies Report Earnings – Thursday (27th April)
Earnings reports from a large portion of S&P 500 companies can provide a broader view of the financial health of major corporations. Strong earnings across the board can contribute to a positive market sentiment and potentially boost cryptocurrency prices, while weaker earnings could lead to market uncertainty and a negative impact on the crypto market.
- March PCE Inflation Data – Friday (28th April)
PCE inflation data can shed light on price changes for personal consumption expenditures, impacting the consumer behavior and the overall economy. High inflation figures might lead to increased interest in cryptocurrencies as a hedge against inflation. In contrast, low inflation numbers could signal a stable economy and potentially lead to decreased interest in digital assets.
Mega-cap Tech Report Earnings – Friday (28th April)
Earnings reports from mega-cap tech companies can significantly impact the stock market and, in turn, the crypto market. Positive earnings results could lead to increased investor confidence and a bullish crypto market, while disappointing earnings may result in a bearish market trend.
At press time, Bitcoin was worth $27.313, Ethereum was valued at $1,840, and the global crypto market was at $1.2 trillion.
The crypto market is facing a pivotal moment. How do you think it will play out? Stay tuned for more updates!
Bitcoin Price Analysis: Where BTC Price is Heading In Coming Week, $25K or $30K ?
The market is still pricing in the impact of another potential Fed interest rate hike, which put a cap on cryptocurrency’s growth this week. After briefly hovering above the $30K milestone, Bitcoin started to decline on Wednesday.
Bitcoin may be approaching a local top, according to a crypto strategist. DonAlt, a pseudonymous analyst, stated that he thought Bitcoin’s rise beyond $30,000 was a range deviation. The range deviation beyond $30,000 is comparable to the range deviation at the bottom, when Bitcoin broke below $18,000 in November of last year, claims the crypto analyst.
“I’m gonna have to be bearish here for the same reason I was bullish at $16,000. Expecting top to be in until proven otherwise. $20,000 or strength is what I’m gonna do anyway. Anything in between likely just gonna be chop for months anyway.”
Range deviations are closely monitored by traders because they may indicate probable trend reversals after fooling some market players.
According to his chart, the price range for Bitcoin at this time is between $18,000 and $30,000. He asserted that the recent rise to $31,000 may have been a trap for Bitcoin bulls now that BTC is trading around $27,317 and back in the range.
The analyst further warned that the market structure and timing of BTC resemble those of the cryptocurrency’s price movement in the beginning of 2021, when it rose from $55,000 to $65,000 in less than two months before plummeting all the way to $30,000. He claimed that before considering returning to the markets, Bitcoin must reach a crucial psychological threshold.
At the time of writing, Bitcoin is trading at $27,610 and is down by more than one percent in the last 24 hours.
Top Altcoins To Watch Next Week: BNB, XRP, ADA Price May Explode Soon
In a week marked by dramatic shifts in the crypto landscape, the market witnessed a rollercoaster of surges and plunges across leading digital assets. These fluctuations have shaped market sentiment and left investors on edge. Currently, the entire crypto market is awash in a sea of red, with expectations for future movement remaining uncertain. However, as Bitcoin price has made a sharp dip from $30K, it brings hope of a possible altcoin season in the upcoming week. Though several altcoins have already posted massive gains recently, traders are now waiting for the next altcoins to explode.
These Altcoins May Take Charge Soon
The halt in the rise of Bitcoin’s (BTC) dominance rate – which refers to its share of the overall cryptocurrency market – suggests the possibility of altcoins outperforming in the near future. Investors have recently switched their focus to leading altcoins as Bitcoin’s sudden price dip failed to fulfil bullish goals, resulting in a surge in altcoin demand.
XRP Price Analysis
Recently bulls tried to drive the XRP price above EMA-20 resistance, but bears made significant selling pressure, creating a resistance near $0.473. On the hourly chart, XRP’s price experienced a deceptive breakout from the local support level at $0.4412. Traders are now intently monitoring the bar closure, as its proximity to the resistance could signal further growth toward the $0.48 zone.
As of writing, XRP price trades at $0.47, climbing over 3.7% in the last 24 hours. After a sharp decline, bulls controlled the price chart, and XRP took support near EMA-100 at $0.44. XRP has climbed above its 23.6% Fib level since then, and a breakout above its critical level of $0.49 will send the altcoin to its initial bullish consolidation range of $0.51-$0.53.
Binance Coin (BNB) Price Analysis
BNB experienced a notable rebound from the $318 support level near EMA-50, surging past the 20-day EMA. This indicates that the bulls are putting up a solid fight to prevent further declines and maintain the $318 threshold. The market will be closely watching whether their efforts successfully sustain the coin’s value.
Currently, BNB’s price trades at $330, with an uptick of over 2% from yesterday’s price. BNB’s price is facing a minor resistance to hold $330, and it can soon make a downward correction. However, if bulls break above the 23.6% Fib level, it can smoothly climb to its next resistance of $344.
Cardano (ADA) Price Analysis
ADA price has made a steep decline recently after being triggered by the massive selloff in the crypto market. On April 20, the bears managed to drag Cardano’s ADA back beneath the neckline of the inverse head and shoulders (H&S) pattern. However, the altcoin has recovered slightly and is trading at $0.39 with a gain of over 2%.
After taking support at $0.37, ADA’s price surged above its 38.6% Fib channel and is currently facing a minor resistance at EMA-200 on the daily price chart. If bulls send the ADA price above $0.4, a bullish rally toward $0.45 is expected next week.
Bitcoin Calms Near Monthly Support Level! Will Bulls Revive BTC Price Next Week?
The Bitcoin market has faced a tumultuous ride, with the digital currency struggling to find stable ground amidst swirling financial currents. Recent news of potential interest rate hikes caused a sharp selloff that sent Bitcoin plummeting below $30K, erasing its monthly gains. With BTC’s price falling by over 8% in just a few days, sellers have been flexing their muscles. Despite these challenges, Bitcoin appears to have steadied itself at its monthly support level, offering a ray of hope to investors for a possible bullish reversal in the coming week.
Bitcoin Shows Bullish Sign Amid Turmoil
A recent analysis of on-chain data has revealed a notable spike in Bitcoin exchange outflows, potentially signalling a bullish trend for the cryptocurrency’s price. A CryptoQuant analyst highlighted that a significant 2,138 BTC had been withdrawn from centralized exchanges in just the past day, sparking renewed interest among market watchers.
The “exchange outflow” metric tracks the total volume of Bitcoin being removed from wallets associated with centralized exchanges. A sharp increase in this indicator can be interpreted as a sign of bullish sentiment, as it suggests that investors are opting to hold their assets in anticipation of a price increase rather than trading them on exchanges.
The recent surge in large withdrawals from cryptocurrency exchanges has occurred while Bitcoin’s price hovers around the lower $28,000 range—a relatively low level compared to its position above $30,000 just a few days prior. This phenomenon suggests that these transfers out of exchanges could indicate new buying activity in the market.
A closer look at the chart also reveals that exchange inflows remain low during the same period, signifying a lack of deposits to counterbalance the withdrawals. This pattern implies that, for the time being, there may be no additional interest in selling at the current price levels.
Is Rebound For BTC Price On The Horizon?
Bitcoin price has stopped dropping further as it found a stable support level at $27.5K. After forming a low near $27,140, Bitcoin has climbed above the 23.6% Fib level, hinting that investors are accumulating BTC in the dip.
As of writing, BTC price trades at $27.6K, declining over 1.47% in the last 24 hours. If BTC price falls below $27K, it may experience a decline, first to $26,400, and then potentially to the neckline of the inverse head-and-shoulders (H&S) pattern at $25,500.
However, a rebound is likely expected from $27K, and bulls may send the BTC price above the EMA-20 trend line. If Bitcoin breaks above $27.8K, a bullish rally may continue toward $28.5K. A successful breakout above EMA-20 will again push the BTC price to its previous bullish range of $30K.
Top 3 Altcoins to Consider Next Week! Is the Altcoin Season Approaching Soon?
As Bitcoin’s price action hovers within a tight range, investors are beginning to turn their attention to altcoins, which have started to exhibit volatile and promising price movements. This shift in focus comes as the leading cryptocurrency experiences a slight downtrend, leading market observers to speculate about the potential onset of an altcoin season. It is anticipated if the Bitcoin price takes support in the next few days, it may send the following altcoins to new highs.
Bitcoin’s Decline To Bring Strong Buying Pressure In Altcoin Market
Bitcoin has recently seen its price enter a consolidation phase, trading in a narrow range. While the market leader is struggling to establish a clear direction, this has opened the door for altcoins to take center stage next week.
Cardano (ADA) Price Analysis
Cardano’s price has surged today, breaking through the neckline of the inverse head-and-shoulders (H&S) pattern, thus completing the bullish reversal setup. In typical market behavior, the price tends to experience a pullback following a breakout from a pattern, retesting the level from which it broke out. In this instance, the ADA price may experience a slight dip toward the neckline.
If the price rebounds from this level, it would indicate that the bulls have successfully transformed the neckline into a support zone. This development could set the stage for an upward movement next week, potentially targeting the $0.60 mark as per the pattern’s projection.
As of writing, Cardano trades at $0.457, gaining over 4.7% in the last 24 hours. An analyst suggests that Cardano’s price may experience a pullback to $0.4, from which it can surge to $0.55 next week.
Binance Coin (BNB) Price Analysis
Binance coin has witnessed a noticeable breakout this week, surging above its monthly resistance level of $320. BNB’s price managed to remain above the 20-day EMA at $319, indicating a shift towards positive sentiment as traders seized the opportunity to buy the dips. With the 20-day EMA beginning to trend upward and the relative strength index (RSI) climbing above 60, signs point to a changing tide in the market, favoring bullish momentum.
As of writing, BNB’s price trades at $334, with an uptick of 2.5% from yesterday. If BNB breaks above $340, it may attain a high of $350 next week.
Polygon (MATIC) Price Analysis
On April 12, Polygon experienced a brief slip below the symmetrical triangle pattern’s support line, but the candlestick’s long tail reveals that bulls aggressively purchased at lower price points. Hence, MATIC price rallied and broke through the 20-day EMA at $1.12. This upward movement caught aggressive bears off guard, potentially leading to a short squeeze.
As the price approached the triangle’s resistance line, it faced significant challenges from bears, highlighting the ongoing tug-of-war between bullish and bearish forces in the market.
Currently, MATIC price trades at $1.18, with a surge of 3%. According to a crypto analyst, TradeView, MATIC whales may increase the accumulation rate if the altcoin surges above $1.25, pushing the price to $1.5 by next week.
Bitcoin is Heading Toward $33K Next Week! Traders Should Closely Watch These Levels
As the crypto market experiences a reawakening, Bitcoin’s (BTC) recent rally has captured the attention of investors and enthusiasts. The flagship cryptocurrency has reached a remarkable 10-month high, surging past the $30,000 mark, bolstered by an atmosphere of positive market sentiment. Amidst ongoing economic uncertainties, investors are now eagerly awaiting Bitcoin’s next price trend and pondering the potential implications for the broader market.
Bitcoin Flashes Bullish Indicators
Bitcoin’s recent upswing has been partially fueled by the global economy’s observed dip in inflation, sparking anticipation that central banks could soon transition their policies toward a more accommodative monetary stance.
In a remarkable run from April 9 to April 14, Bitcoin’s price soared over 10%, registering its highest daily close in over ten months. While some experts might contend that this surge indicates a certain level of detachment from traditional markets, it is important to note that both the S&P 500 and gold are hovering near their loftiest levels in half a year.
Furthermore, Bitcoin’s impressive rally above $30,000 occurred as the US dollar strength index (DXY) – a metric gauging the performance of the US currency against a basket of foreign currencies – plummeted to its lowest point in a year.
According to the on-chain firm, BlockchainCenter, the Bitcoin rainbow chart seems to suggest that BTC may have initiated a fresh rally leading up to the halving event. As of April 15, the chart positions BTC in the ‘Accumulate’ phase, following a consolidation period within the ‘Basically a Fire Sale’ territory.
Back in March 2020, Bitcoin emerged from the ‘Basically a Fire Sale’ zone, trading below $6,000. This development marked a pivotal moment for the cryptocurrency, setting the stage for a price reversal that ultimately paved the way for the 2021 bull run. Consequently, this upward trajectory saw BTC reach a staggering all-time high of nearly $69,000. Hence, Bitcoin may witness a potential bullish run ahead of the halving event.
Will Bitcoin Reach $33K?
The bears are currently attempting to impede the upward movement, trying to slump the BTC price to its crucial support level of $30K. If buyers fail to maintain the price above $30.5K, BTC’s value can drop significantly below the 23.6% Fib level.
If the BTC price declines from $30K but manages to stay above the 20-day EMA at $28.7K, it will bolster the likelihood of a rally surpassing $32.5K in a few days. In the event that this threshold is breached, Bitcoin may skyrocket toward the $40,000 mark.
At the time of writing, BTC’s price hovers around $30.4K, experiencing a near 1% drop within the past 24 hours. A renowned crypto analyst suggests that Bitcoin may soon face a slight pullback, testing support near the $29K mark. If BTC’s price holds firmly above this level, it can generate sufficient buying momentum to propel its value beyond $33K.
Will XRP Price Surge Above $0.59 Level in the Coming Week? Analyst Maps Crucial Levels
This month, XRP’s price had a staggering 30% increase, which enabled the cryptocurrency to reach new highs above $0.50, which hadn’t been reached since May 2022. Analysts and traders are now starting to predict XRP’s next move and how the asset will once again capture the $1 mark.
Since reaching its annual high on March 29, the price of XRP has been consolidating. After the price turned away from the $0.53 resistance level, there was a consolidation and now the price has reversed once again.
An expert by the name of Dark Defender on Twitter has said that XRP is slowly making a move higher and he also listed the important levels. As the sixth-ranked cryptocurrency seems to build momentum for yet another breakthrough attempt, the setting still seems bullish.
As per the analyst XRP price has broken through a level of resistance and is heading towards a target of $0.57. However, in order to reach a higher target of $0.89, it is important for XRP to break through levels of resistance at $0.57 and $0.59.
Currently, the price of XRP is consolidating beneath a significant resistance area. There’s a chance that it’ll try to break out once again soon.
Ripple Vs SEC
The price increase is the result of the overall community optimism that Ripple will win in the ongoing, two-year legal dispute with the US Securities and Exchange Commission (SEC). The outcome of the SEC case, which is widely anticipated to go in Ripple’s favor, will have an impact on the price of XRP. The case has been dragging on for two years, and the XRP army anticipates that once it is decided, XRP will have more room to grow.
It is unclear whether a positive outcome would cause XRP to return to the $1 level. After a surge that pushed the XRP price above the $0.50 level, the token is now aiming higher and has gained more than six percent in the last 24 hours.
BTC Price Stalls At $28K As Traders Eye Major Move! Here’s How Bitcoin Will Perform Next Week
Following the recent release of US job data, numerous BTC traders are anticipating a significant upward move. Over the past few days, Bitcoin’s price has displayed sideways movement, leaving investors eagerly awaiting a potential breakout in the coming week. However, several on-chain data points are now signalling bullish indicators, which may soon restore investor confidence and propel the price above the $30K threshold.
Bitcoin’s On-Chain Metrics Suggest Bullish Trend
Bitcoin’s price has experienced an impressive 30% increase over the past 30 days, reclaiming the critical $28K level. However, traders are now eagerly anticipating BTC’s next price leap to break through the $30K barrier.
On-chain indicators appear favourable for Bitcoin (BTC), even amid the leading digital asset’s sideways price movement this week, as reported by crypto analytics company Glassnode. Glassnode is closely monitoring the miner fee revenue momentum metric, which measures increasing demand in the BTC market.
The analytics firm indicates that the metric is currently displaying signals of increasing demand for Bitcoin. The firm stated that the 90-day Simple Moving Average (SMA) for fees surpassed its annual average recently, indicating that fresh demand is entering the market.
The firm revealed that, for the first time, the Open Interest in Bitcoin Options contracts has exceeded that of Futures contracts. Bitcoin Options contracts currently stand at approximately $10.3 billion, while Futures contracts amount to $10 billion.
Glassnode also noted that Futures Open Interest has remained relatively stable in 2023. The recent surge in Call options suggests that investors are speculating on a higher Bitcoin price in the future.
Moreover, another crypto analytics firm, Santiment, reports that Bitcoin traders are presently executing transactions at a loss at double the rate of profit, which the firm considers a positive development for the market.
Is BTC Price Approaching $30K Next Week?
Bitcoin’s value has hovered under the $29,000 mark in recent days, with experts expressing mixed opinions on its immediate future. Some analysts predict a potential increase to $30,000, while others contend that it may have reached a temporary peak.
A symmetrical triangle has emerged near $29,000 in the Bitcoin chart, indicating an equal level of uncertainty among bullish and bearish traders regarding the BTC’s upcoming price movement.
As of writing, Bitcoin trades at $28K, with an uptick of 0.37% from yesterday’s performance. Analyzing the daily price chart, bulls seem to have a slight advantage, as evidenced by the 20-day EMA ($27,465), which is trending upwards, and the relative strength index (RSI) above 55.
If Bitcoin surges above $29K by Monday, it may continue its surge and reach the projected bullish goal of $30K. However, a bearish reversal below EMA-20 will send the asset to test its support near $27K.
Top Altcoins to Look Out for Next Week! Is It the Beginning of Altcoin Season?
In March, Bitcoin’s market dominance, measured by its proportion of total cryptocurrency market capitalization, increased significantly from approximately 44% to a peak of 48%. Despite a 22.7% rise in Bitcoin’s price over the same period, many altcoins underperformed or experienced negative returns. Nevertheless, a few altcoins may continue to display solid bullish signals in April.
These Altcoins Will Dominate Next Week
As March has ended, investors are interested in knowing which altcoins to keep an eye on in April. At the moment, Ripple (XRP), Cardano (ADA) and Polygon (MATIC) appear to be the top contenders for resuming their bullish recovery in the upcoming week.
Ripple (XRP) Price Analysis
XRP’s candlestick exhibits a long wick, indicating that the bears are fiercely guarding the $0.56 resistance. XRPUSDT’s candlestick pattern formed an inside-day, signaling ambiguity among the bulls and bears. If the price drops below $0.5, the token may revisit the breakout point at $0.49, a crucial level to monitor, as a breach could prolong the correction to the 20-day EMA ($0.45).
As of writing, XRP price trades at $0.51, with a decline of nearly 5% from yesterday’s performance. However, it is expected that the token will take support near $0.5 and initiate a fresh rebound this week. If XRP manages to surpass the resistance zone between $0.56 and $0.59, its price could ascend from its current level, potentially soaring to $0.65 and $0.80 the following week.
Cardano (ADA) Price Analysis
Cardano has been on a strong bullish trend for the past few days and is expected to surge more next week. Following two days of indecision, the bulls have succeeded in propelling Cardano above the resistance at $0.39. The price has now arrived at the critical resistance located at the neckline of the inverse head and shoulders (H&S) pattern.
ADA price is currently trading at $0.39, with a downtrend of over 1.5%. The positive territory of the RSI and the upward trend of the 20-day EMA ($0.36) suggest that the most favorable direction for Cardano’s price is upward. If buyers successfully drive the price above the neckline, it would finalize the reversal setup, potentially propelling the altcoin towards its pattern target of $0.60 next week.
Polygon (MATIC) Price Analysis
As the Polygon network is active in bringing robust network developments, traders may witness a skyrocketing trend in the MATIC price chart next week. Although Polygon briefly exceeded the 20-day EMA ($1.12), it encountered resistance from bears. As a result, sellers are likely to make an effort to drive the price down to the crucial support level of $1.04.
MATIC price is currently trading at $1.11, with a minor uptick. If the price surpasses and consistently stays above the 20-day EMA, MATIC could endeavor to reach the overhead resistance at $1.31.
Will Bitcoin Fail to Hold Its Upward Rally? Here’s What BTC Traders Can Expect Next Week
Bitcoin has been on a remarkable run recently, with its value surging to new highs in the past few weeks. However, the recent lawsuit on Binance by the CFTC and several macro conditions may create a slowdown in BTC’s ongoing trend. The question on everyone’s mind now is whether this rally is sustainable or if a correction is imminent next week.
Bitcoin Leads The Upward Way In Q1
According to IntotheBlock’s recent newsletter, cryptocurrencies outperformed other asset classes in the first quarter, with digital assets recording gains not witnessed in two years after selling pressure subsided following the FTX collapse. Bitcoin experienced its highest quarterly price gains since Q1 2021.
In March 2023, Bitcoin’s market capitalization rose by 20%, contributing to a favorable shift of 70% in the first quarter. Bitcoin’s exceptional performance may indicate its increasing attractiveness as a digital asset for value storage, as its correlation with gold prices increased from -0.3 at the start of the year to 0.9 by the end of the quarter.
The market has experienced a significant increase in spot prices, accompanied by heightened trading activity and a remarkable interest in options trading for BTC. According to the CME Group’s data, Bitcoin’s option contracts have reached an unprecedented milestone.
In addition, despite the collapse of Bittrex U.S. crypto exchange, the BTC market appeared steady, with the world’s most extensive digital asset recording positive indicators and trading above the recently reclaimed $28K price mark.
What Lies Ahead For BTC Price Next Week?
The bulls are attempting to drive Bitcoin beyond the $29,000 mark, but the extended wick on the candlestick indicates that the bears have not surrendered and are selling during rallies. If a level is challenging to surpass, it’s typical for the price to retreat before making another attempt. If the BTC price fails to break through the $29,000 mark again, it may retrace to the 20-day exponential moving average ($26,879).
A robust rebound from this point would indicate positive market sentiment, with traders buying on dips. This, in turn, would enhance the likelihood of surpassing the $29,000 resistance level next week.
As of writing, BTC trades at $28.3K, with a minor downtrend. Analyzing the 4-hour price chart, Bitcoin is preparing for a sharp decline next week. Bitcoin may drop to the EMA-20 trend line at $27K and take support near $26.5K. However, a bullish reversal is expected from that support level, and a smooth rally to $30K is anticipated.
Bitcoin Price Can Hit $35k In Coming Week If Bulls Hold on These Levels
In the world of crypto trading, predicting the floor price of Bitcoin can make a trader’s reputation. And DonAlt, a pseudonymous trader and analyst who correctly predicted the floor price of Bitcoin in 2022, is updating his outlook on the flagship cryptocurrency. In a new TechnicalRoundup video, DonAlt tells his 49,500 YouTube subscribers that his bullish thesis will be invalidated if Bitcoin falls below $22,000.
A Dire Future for Bitcoin?
DonAlt believes that Bitcoin’s future will be dire if it falls below the $22,000 threshold. He explained, “Basically if we come back below this current impulse candle that we’ve had, I think it’s done for.”
However, DonAlt remains optimistic that Bitcoin will maintain its upward trajectory. He added, “The buys that we’ve done at $16,000 almost up 2X. And there’s still quite a bit to go.”
Bitcoin is currently trading at $27,989 at the time of writing. If it continues to maintain an upward trajectory, the pseudonymous trader says that the next resistance level is $35,000.
The banking crisis has created a strong narrative for the crypto market, according to DonAlt. He proceeded to say that bank bailouts are basically the most bullish thing that can happen for crypto. It’s why crypto exists, it’s why a lot of us are in this market. It’s basically opening the eyes to a lot of people that what’s going on in the world is not really right, he said.
Key Support and Resistance Levels
On March 31, BTC momentarily dropped to two-day lows of $27,533, as shown by data from CoinMarketCap. However, a modest bounce had the king coin is trading at around $27,900 at the time of writing, as traders flag the most important support and resistance levels going forward.
For bulls, they should preserve the $27,700 key support, which forms the equilibrium (EQ) level. However, falling below that level should not be a cause for worry unless BTC tumbles down to $22,000.
On a more optimistic note, the analyst believes that Bitcoin has frankly pivoted its structure to produce a clean break with the bear market in place since its latest all-time highs back in November 2021. Traders now have clear invalidation and can cut longs on acceptance back into the range below $27,000. Bitcoin going down to $22k is something I truly don’t see happening at all.
Top Altcoins to Watch Next Week! Experts Predict a Potential Bullish Rally
The crypto market is currently heating up, with investors and traders on the hunt for the next big thing. After Bitcoin and Ethereum yielded massive gains over the past week, traders are now turning their attention to the search for the next altcoins, which have the potential to explode in the coming week. As the altcoin market is yet to gain its maximum potential, many investors are getting into dominating altcoins to enjoy the upcoming bull run.
Altcoin’s Bullish Season is Around the Corner
Since November 2022, Bitcoin’s market capitalization has surged by approximately 80%, reaching the impressive $28,000 mark. However, even with this Bitcoin price pump, many altcoins are still down by as much as 90% from their all-time highs, which presents a prime opportunity for traders and investors to capitalize on in the coming weeks.
Binance Coin (BNB) Price Analysis
On March 23, BNB rebounded from the 20-day EMA ($316), but the ongoing struggle by the bulls to sustain the relief rally suggests the bears are seizing every opportunity to pounce on even minor recoveries.
The sellers will make an attempt to pull the price below the 20-day EMA, and if successful, BNB could experience a drop to $300 and potentially to the 200-day SMA ($289). However, it’s expected that the bulls will put up a strong defense in the area between the 200-day SMA and $265.
As of writing, BNB trades at $323, showing a minor uptrend in the last 24 hours. Analyzing the daily price chart, BNB has formed a triangle pattern, and a breakout above the pattern at $340 will push the coin to trade above $600 by next week.
Polygon (MATIC) Price Analysis
Since March 20, MATIC of Polygon has been trading below the 20-day EMA ($1.14), indicating that the bears are attempting to turn the 20-day EMA into a resistance level.
One small positive sign for the bulls is that despite the bearish pressure, the price has not fallen below the robust support area of $1.05 and the 200-day SMA ($0.96). This indicates that there is strong buying interest at lower price levels.
MATIC price is currently trading at $1.09, with a decline of nearly 2% from yesterday’s price. It is anticipated that MATIC price will make a huge breakout next week as the token will surge above EMA-50 and trade at $1.5.
XRP Price Analysis
XRP price continues to form back-to-back inside-day candlestick patterns, which suggests a state of uncertainty among both buyers and sellers. One small bullish sign is that over the last three days, the bulls have been able to protect the 200-day SMA ($0.40). This could imply that the 200-day SMA may now serve as a new support level next week.
XRP price hovers at $0.447, gaining over 4% in the last 24 hours. It is analyzed that the XRP price will experience a minor dip to $0.43 by tomorrow and then surge throughout the next week to a crucial resistance zone of $0.48-$0.49.
Bitcoin and Ethereum Prices Are Heading to these Levels Next Week! Here’s What Traders can Expect
The crypto market is buzzing with excitement as Bitcoin and Ethereum, two of the most popular cryptocurrencies, appear to be poised for significant price momentum in the coming week. As we approach the end of the month, traders are eagerly anticipating a continuation of the recent upward trend in the cryptocurrency market. Over the last few weeks, these two leading cryptos showed massive gains, and investors are now waiting for an extended bullish rally to maximize their gain.
Volatility is Waiting for BTC And ETH Prices
Amid high banking crisis and crypto market’s regulatory concerns, Bitcoin and Ethereum prices are not slowing down to reach new highs. Despite overall bearish market sentiments, investors are still betting on long-term gains on BTC and ETH as there is an astronomical spike in trading volume and buying pressure, creating possibilities of a new bull run next week.
BTC Price Analysis
Bitcoin reached a new nine-month high by surging past $29,000 recently, but the celebration was short-lived as the asset experienced a sharp retracement in the hours that followed. Following a loss of $28,000 the previous day, weekend trading remained relatively stable as traders awaited a break before the resumption of traditional finance markets, resulting in a lack of usual volatility.
Bitcoin price is currently showing an inside-day candlestick pattern, signifying a state of FUD among buyers and sellers. Although the bulls aim to extend the up-move, the bears remain firm and unwilling to give in, leading to the price remaining within a narrow range.
As of writing, BTC price trades at $27.5K, with a decline of 2% in the last 24 hours. The weekly price chart indicates Bitcoin price will likely consolidate below $30K for the next few days. However, a breakout above $30K is expected next week, and the BTC will head toward the crucial resistance of $34K-$38K.
ETH Price Analysis
Out of all the altcoins in the cryptocurrency space, Ethereum’s price closely mirrors the performance trend of Bitcoin. Multiple successful breaches of the $1,800 level have been achieved by the digital asset, resulting in increased profits and attracting more investors.
Ether breached the overhead resistance of $1,800, but the bulls could not maintain the breakout, as evidenced by the long wick on the candlestick.
The bears are currently attempting to reinforce their position by pushing the price towards the 20-day EMA ($1,698), which is a crucial level to monitor for potential downsides. ETH price is currently trading at $1,753, declining by 1% from yesterday.
The weekly price chart indicates a minor downward correction for ETH price next week, as the altcoin may drop below the EMA-50 trend line and reach the bottom levels of $1,500 before sparking fresh surges.
XRP Price Revs Up for Potential Breakout! Traders Anticipate a New High This Week
Bitcoin and Ethereum, which are high market capitalization assets, have remained stable, while altcoins such as XRP have experienced overnight double-digit gains. According to crypto experts, Bitcoin’s increasing dominance indicates that the “popcorn effect” is imminent, and the gains will keep spreading to XRP. XRP’s 20% upward rally has been majorly attributed to the potential resolution of the lawsuit filed against Ripple by the SEC in December 2020, which is expected to conclude in the first half of 2023.
XRP Gains the Altcoin Market’s Attention
Today’s crypto rally has been driven by Ripple, as enthusiasts of XRP have been buying up the cryptocurrency in anticipation of a verdict in the ongoing court case between the Ripple company and the SEC. If Ripple comes out victorious, it could set a crucial precedent for the entire cryptocurrency industry.
Within the past 24 hours, the XRP token has surged by 22.4%, reaching price points that haven’t been seen in months and earning the distinction of being the top-performing cryptocurrency among the top 10.
According to CoinGlass data, liquidations in the last 24 hours have totaled $16.69 million, with the majority of the losses ($12.48 million) coming from short positions, indicating that bears have been hit the hardest.
Following XRP’s surge in trading activity, Binance has declared the expansion of its range of investment products that focus on XRP. As a component of this announcement, all Binance users will be able to access weekly options contracts for XRP/USDT.
It is noteworthy that Binance introduced new investment options for XRP just a day after the token exhibited the strongest price movement among the top cryptocurrencies. Yesterday, XRP surged by over 30% and reached a four-month high of $0.493 per token, marking the end of a consolidation period that had been ongoing since November 2022.
What is Waiting for XRP Price Next?
During the previous week, XRP established a support level above $0.35 and gradually began to rise above the $0.37 resistance area.
Eventually, the buyers were able to overcome a significant barrier near the $0.4 level. Furthermore, a contracting triangle with resistance near $0.398 was broken, resulting in the token surging by 25%, and the $0.45 resistance level was clearly surpassed.
As of now, XRP price is trading at $0.45, with a gain of nearly 5% in the last 24 hours. Analyzing the daily price chart, the XRP token is currently witnessing a downward correction after facing rejection near $0.5. As a result, it is predicted that XRP may drop to $0.42 support region, from which a fresh increase is expected to $0.585.
Bitcoin Live Price: Expert Analyst Predicts BTC Price to Hit $30,000 In Coming Week
Justin Bennett, a popular cryptocurrency analyst, has updated his outlook on Bitcoin (BTC) following its 35% surge in just five days. According to Bennett, Bitcoin could potentially surge more than 20% from its current value. He analyzed whether the recent “mind-bending pump that garnered 35% in five days” is over or if BTC has more room to run. Bennett believes that Bitcoin could potentially climb up to $30,000 if its price sees a close above $25,000.
Analyzing Bitcoin’s Next Moves
Bennett predicts that Tuesday’s pullback cleared out late longs and potentially flushed the liquidity build-up just above $23,000. He suggests that an aggressive bounce from the $23,000-$23,500 area could send BTC back to $25,200. A daily close above $25,200 would signal the next leg up toward the $28,000-$30,000 region, but this is contingent on a solid bounce from the mid $23,000 area. Bennett warns that if Bitcoin loses support at the $23,000 level, it could potentially dip down to $21,500.
BTC Rises Above $25,000 Momentarily
BTC/USD rallied to an intraday peak of $25,240.62 earlier in the day, breaking out of a key resistance level at the $25,050 zone. This resulted in Bitcoin once again rising above the $25,000 level. At the time of writing, Bitcoin is trading at $24,692, 15% higher than the same point last week. The 14-day relative strength index (RSI) is also at its strongest point since February 20, tracking at 62.54, which is slightly below the resistance point at the 65.00 mark.
Ethereum Could Rise to $2,000, Bennett Suggests
Looking at Ethereum (ETH), Bennett suggests that the smart contract platform token could potentially surge to $2,000 after achieving a close this week above $1,700. However, if ETH dips below $1,590, Bennett suggests that the lower levels of $1,500 and $1,420 are in play. Ethereum is currently trading at $1,650 at the time of writing.
Overall, Bennett’s analysis suggests that the cryptocurrency market is showing signs of bullishness, with Bitcoin and Ethereum showing potential for growth. However, it remains to be seen whether these predictions will hold true. As always, investors are advised to conduct their own research and exercise caution when investing in the volatile crypto market.
Top Altcoins Set for a Massive Breakout This Week, Experts Reveal Potential Levels
In the past week, crypto investors experienced trauma as several macro events caused a significant loss of funds from the global market cap. The crypto market was hit hard by the collapse of the SVB, which led to the depegging of the USDC stablecoin, reminding investors of the risks involved. However, the recent announcement of a $25 billion bailout by the Fed and Circle’s assurance of 100% USDC reserve recovery has resulted in the USDC stablecoin returning to its dollar peg. This, in turn, has sparked a massive spike in accumulation in the altcoin market, which may propel top assets above their breakout levels this week.
Will The Altcoin Market Rebound This Week?
On Monday, leading altcoins gained the spotlight following the announcement by US authorities to contain the consequences of Silicon Valley Bank’s (SVB) downfall. Additionally, the issuer of the USD Coin stablecoin reassured that it still can be exchanged for the dollar.
As the effect from the collapse of SVB will be short-term, investors are again making bets in the altcoin market for the long-term, and the following assets may soon fulfill the bullish goals.
Polygon (MATIC) Price Analysis
After forming a long bearish pattern in the price chart, MATIC has finally taken support near $0.94, from which the token is rebounding above its 23.6% Fib level. However, the EMA-50 trend line resistance has become a barrier as MATIC struggles to trade above $1.16. The addition of Covo finance and the upcoming launch of the much-anticipated zkEVM mainnet on the Polygon network may send MATIC’s price to new highs this week.
As of writing, the MATIC token trades at $1.19, with a gain of nearly 10% in the last 24 hours. A prominent crypto analyst, Weslad, predicts that MATIC’s price may soon break its crucial resistance of $1.5 and head toward the vital resistance of $3.4. However, after a minor downward retracement, MATIC may initiate its final wave to $13.
Lido DAO (LDO) Price Analysis
Lido token has broken multiple resistance levels today as it witnessed a massive spike in trading volume near the support level of $1.9. As of writing, the LDO token trades at $2.77, with an uptick of over 30%.
Analyzing the daily price chart, the LDO token is preparing to surge above the immediate resistance of $3.2, above which the token may reach a new high at $4. However, a failure to hold its current uptrend will result in a severe downtrend to $2.
The Graph (GRT) Price Analysis
The Graph token has been trading near a crucial breakout region after surging above EMA-50. As of writing, the GRT token trades at $0.14 with a gain of nearly 25%.
Looking at the 8-hour price chart, the GRT token may break $0.15 and spark a massive pump to $0.17. Moreover, the crossover of the RSI line and SMA-14 suggests a potential breakout for the GRT token this week.
Have Crypto Markets Risen Above the Bearish Captivity? Here’s What to Expect This Week
Bitcoin’s price suffered a massive crash due to the collapse of a US bank in just a couple of days and displayed its strength and self-assurance to maintain a healthy upswing. However, it has also to be noticed that the bulls are just preventing the price from plunging below the threshold rather than uplifting beyond $25,000, which is considered an important milestone to trigger a fine bull run ahead.
Woefully, the upswing appears to have been delayed a bit, as the markets are not yet done displaying sudden changes. The upcoming week is also extremely volatile, as multiple events are set to knock off the crypto space. The price of Bitcoin and other altcoins is believed to vary, regardless of direction.
Kobessi Letter, the weekly commentary on the global capital markets that address economic and technical trends, lists the events that may be responsible for significant volatility within the markets.
As mentioned above, there are key events lined up throughout the week that may impact the markets too. The Bitcoin price has risen above the SVB’s fallout, but major volatility may be on the way to hinder the progress of the rally. The CPI and PPI data for February may have a larger impact. Each time, the prices rise slightly and quickly drop, wiping out all the gains incurred in the past couple of days.
Moreover, the retail sales and jobless claims followed by mass tech layoffs due to the failure of SVB may not only impact the crypto space but also the traditional markets too. Moreover, this is the most important week for the stock markets since 2008. As the markets are not only dealing with the SVB fallout but may also receive crucial inflation data. Hence, both market sentiments and FED policies may be dictated this week.
Crypto Market’s Outlook for Next Week: Is a Severe Crash Waiting for Traders?
The crypto market has witnessed a severe plunge this week, and traders are now wondering if the market has reached its bottom or if another crash is on the horizon. As several macro events continue to shake the industry, the next week is crucial as several game-changing events will take place, determining the crypto market’s movement in the upcoming week.
Volatile Sessions Will Rule The Market
Today, the crypto market witnessed a massive selloff as investors identified risks after the collapse of the crypto-friendly bank Silvergate. Moreover, President Joe Biden’s proposed budget aims to “reduce mining activity” and could potentially subject crypto miners in the United States to a 30% tax on their electricity costs, resulting in a negative impact on the crypto space’s future.
The U.S. jobs data is under close scrutiny by traders, who are looking for signs of strong growth like in January with a low unemployment rate. Recently, the Labor Department released data showing that the U.S. economy added 311,000 jobs in February, with the unemployment rate increasing to 3.6 percent. The gain in jobs exceeded economists’ expectations, potentially increasing pressure on the Federal Reserve to accelerate rate hikes.
This could result in an extension of rate hikes and a 50-bps rate hike announcement this month. However, doubts over the Fed’s monetary policy in the upcoming months will be clarified after the release of U.S. CPI inflation data on March 14.
Hence, a rate hike after 14 March will eventually bring more volatility for crypto assets and lower the demand from investors willing to invest in the sector.
Bitcoin To Determine Next Week’s Trend
If the Fed comes up with strict monetary policies and rate hikes to combat the high inflation rise, it may significantly affect Bitcoin’s price and plunge the asset with another crash to the $15K level.
As of writing, Bitcoin price trades at $20K, with a decline of over 7% in the last 24 hours. The sharp decline in the BTC price chart has forced other assets to witness a similar meltdown. Over the past day, Dogecoin, Shiba Inu, Solana, and XRP have all experienced losses of approximately 10%, 9.20%, 9.50%, and 8%, respectively. The global crypto market also saw a downturn, falling by almost 8% and dropping below the $1 trillion mark for the first time since mid-January to reach $918 billion.
If the crypto market comes across another bad news next week, it may plunge Bitcoin’s price to December levels near $16K, marking another crash for the industry.