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Monday

10 May 2021

Price analysis 4/28: BTC, ETH, BNB, XRP, ADA, DOGE, DOT, UNI, LTC, BCH

Price analysis 4/28: BTC, ETH, BNB, XRP, ADA, DOGE, DOT, UNI, LTC, BCH


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The bears are trying to defend the 20-day EMA and will now attempt to sink the price toward $50,460.

Even if the price drops to the $50,460 support but rebounds off it strongly, it will suggest accumulation at lower levels.

This positive view will invalidate if the bears sink the price below the $50,460 to $46,985.02 support zone.

The first support on the downside will be $2,500 and if that breaks, the decline could reach the 20-day EMA.

A strong bounce off this support will suggest that traders are aggressively buying on dips.

Conversely, a break below the 20-day EMA could pull the price down to the support line of the channel.

Contrary to this assumption, if the price turns down from the resistance line, it will suggest that bears are active at higher levels.

If the XRP/USDT pair declines below the 20-day EMA, it will suggest that bears are selling on rallies.

A breakout of this resistance will suggest that bulls are back in the driver’s seat.

Contrary to this assumption, if the bulls drive the price above the $1.48 to $1.55 overhead resistance zone, the pair could start the next leg of the uptrend, which has a target objective at $2.

The bears will then smell an opportunity and try to pull the price down to the 20-day EMA.

A break below the $26.50 support will complete a large head and shoulders pattern, which could signal the start of a deeper correction.

If the UNI/USDT pair sustains above the channel, it will suggest strong momentum.

If the bears sink the price below the 20-day EMA, the pair could drop to the 50-day SMA ($224).

This level may again act as stiff resistance but if the bulls drive the price above it, the pair could be on track to retest $335.03.

The bears will now try to sink the price below the 20-day EMA ($815).

Conversely, if the price rebounds off the 20-day EMA and breaks above $950.13, it will indicate that traders are buying on dips.

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cointelegraph.com
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