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Friday

23 April 2021

Price analysis 4/5: BTC, ETH, BNB, DOT, ADA, XRP, UNI, LTC, LINK, THETA

Price analysis 4/5: BTC, ETH, BNB, DOT, ADA, XRP, UNI, LTC, LINK, THETA


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However, the bulls could not build upon this move as the bears sold aggressively and pulled the price back below the breakout level at $2,040.77 on April 3.

While the bulls are attempting to flip this level into support, the bears are trying to pull the price below it and trap the bulls.

If the buyers succeed in pushing the price above $2,144.59, the ETH/USDT pair could start the next leg of the uptrend that may reach $2,618.14.

Contrary to this assumption, if the bears pull the price below $1,977, the pair could drop to the 20-day EMA.

A break below this level will suggest the bullish momentum has weakened and could result in a decline to the trendline.

That could pull the price down to the 50-day SMA ($258) and a crack below this support may extend the decline to $220.

This bullish view will invalidate if the bears can pull the price back below $40.

If that happens, the ADA/USDT pair could drop to the moving averages and a break below the 50-day SMA ($35.34) could start a deeper correction to $26.50.

If the bulls can push and sustain the price above $1.30, the ADA/USDT pair may challenge the stiff resistance at $1.48.

This will be the third attempt to clear the overhead resistance, hence the possibility of a break above it is high.

If the bulls can drive the price above $32.50, the UNI/USDT pair could rally to the $35.20 to $36.80 resistance zone.

The next trending move could start on a break above $36.80 or a break below $25.52.

However, the positive sign is that the buyers did not allow the price to break below the moving averages.

Above this level, the pair could rise to the pattern target at $307.42.

Conversely, if the price once again turns down from the resistance line, then the possibility of a break below the moving averages increases.

Chainlink (LINK) broke above the $32 resistance on April 2 but the bulls could not build upon this breakout and the bears pulled the price back into the range on April 3.

On the contrary, if the price again turns down from the overhead resistance zone and plummets below the moving averages, it will suggest that the range-bound action may continue for a few more days.

Contrary to this assumption, if the bulls can drive the price above $12.58, the THETA/USDT pair could rally to $14.

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sentiment (0.3) Positive

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cointelegraph.com
Market data feeds provided by cryptocompare.com
bitsmart 2021