Shiba

Bitcoin

Toncoin

April

Shiba Inu

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 <p class=""><strong>The price of the Bitcoin market has dropped to fresh lows, pulling down alternative cryptocurrencies alongside it just before the highly anticipated BTC supply halving.</strong></p>
 <p class="">Bitcoin declined towards $61,000 on April 17, indicating a lack of interest at higher price levels. <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> from Farside Investors reveals that recent movements in Bitcoin’s price have led to overall outflows from spot Bitcoin exchange-traded funds (ETFs) on April 12 and 15. Ki Young Ju, the founder and CEO of CryptoQuant, mentioned in a recent post that demand for Bitcoin ETFs has remained stagnant for four weeks.</p>
 <p class="">Nevertheless, there’s a reassuring sign for bullish investors: Major holders of Bitcoin, known as whales, have not shown signs of panic selling during this period of weakness. Data from research firm Santiment indicates that the largest cohorts of Bitcoin wallets have been actively accumulating since March 1.</p>
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   <figcaption class="wp-element-caption"><em>Crypto market data daily view. Source:</em><em>&nbsp;</em><em>Coin360</em>
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 <p class="">The whales seem to be holding on to their positions due to the bullish outlook in the long term. Bitwise Asset Management said in an X post that after the three previous&nbsp;Bitcoin halvings, Bitcoin’s prices remained soft for a month but witnessed&nbsp;triple-digit gains a year after&nbsp;the event.</p>
 <p class="">Will Bitcoin and altcoins deepen their correction or remain range-bound for a few more days? Let’s analyze the charts of the top 10 cryptocurrencies to find out.</p>
 <h2 class="wp-block-heading" id="bitcoin-btc-market-analysis">Bitcoin (BTC) Market Analysis</h2>
 <p class="">The bears try to sink Bitcoin below the $60,775 support on April 17 and complete a double-top pattern.</p>
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   <figcaption class="wp-element-caption"><em>BTC/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">If they manage to do that, the BTC/USDT pair may move downward to the 50% Fibonacci retracement level of $58,017 and then to the 61.8% retracement level of $54,298. The bulls are likely to defend this zone, but if the bears prevail, the pair may plummet to the pattern target of $47,773.</p>
 <p class="">This negative view will be invalidated if the price rises from the current level and breaks above the moving averages. This may trap several aggressive bears, resulting in a short squeeze, which enhances the prospects of a rally above $73,777.</p>
 <h2 class="wp-block-heading" id="ether-eth-market-analysis">Ether (ETH) Market Analysis</h2>
 <p class="">Ether&nbsp;turned down from the 20-day exponential moving average ($3,301) on April 15 and broke below the $3,056 support on April 16.</p>
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   <figcaption class="wp-element-caption"><em>ETH/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">If the price maintains below $3,056, the ETH/USDT pair may drop to $2,852. This is a crucial level for the bulls to defend because a break and close below it may accelerate selling. The pair may tumble to $2,717 and subsequently to $2,200.</p>
 <p class="">Conversely, if the price rebounds off $2,852 with strength, it will signal solid buying at lower levels. The bulls will then make another attempt to clear the 20-day EMA. If they succeed, the pair may attempt a rally to $3,679.</p>
 <h2 class="wp-block-heading" id="bnb-market-analysis">BNB Market Analysis</h2>
 <p class="">After trading between the moving averages for three days, BNB&nbsp;slipped below the 50-day simple moving average ($541) on April 17, signalling that bears have overpowered the bulls.</p>
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  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/eff384cd194ecb64d1831943cac8f7d3.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>BNB/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">The BNB/USDT pair could tumble to solid support at $495, a critical level to watch out for. If this support gives way, the BNB/USDT pair will be vulnerable to fall to $460 and later to $400.</p>
 <p class="">On the upside, a break and close above the 20-day EMA ($565) will be the first sign of strength. The pair could then attempt a rally to the overhead resistance of $635, where the bears will try to stall the up move.</p>
 <h2 class="wp-block-heading" id="solana-sol-market-analysis">Solana (SOL) Market Analysis</h2>
 <p class="">Solana&nbsp;turned down from $156 on April 15 and reached crucial support at $126. This suggests that the bears are strong-selling every recovery attempt.</p>
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   <figcaption class="wp-element-caption"><em>SOL/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">The moving averages have completed a bearish crossover, and the relative strength index (RSI) is in the negative zone, signalling that the path of least resistance is to the downside. If the $126 support cracks, the selling could intensify, and the SOL/USDT pair may plummet to $100.</p>
 <p class="">On the contrary, if the price turns sharply from the current level, it will suggest solid demand at lower levels. The pair may then rise to $162. A break and close above this resistance will signal that the bulls are back in the game.</p>
 <h2 class="wp-block-heading" id="xrp-market-analysis">XRP Market Analysis</h2>
 <p class="">XRP’s&nbsp;recovery fizzled out at $0.52 on April 15, indicating that the bears are keeping up the pressure and are selling on minor relief rallies.</p>
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  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/f2d2176cf4704fa918796146b6d8e14f.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>XRP/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">The downsloping 20-day EMA ($0.56) and the RSI near the oversold zone suggest that bears are in control. Sellers must sink the price below $0.46 to move downward to vital support at $0.41. Buyers are expected to fiercely defend the $0.46 to $0.41 support zone.</p>
 <p class="">Any recovery attempt will likely face selling at $0.52 and again at the 20-day EMA. A break and close above this resistance will suggest that the XRP/USDT pair may swing between $0.41 and $0.74 for a while longer.</p>
 <h2 class="wp-block-heading" id="dogecoin-doge-market-analysis">Dogecoin (DOGE) Market Analysis</h2>
 <p class="">Dogecoin’s&nbsp;relief rally stalled at the 50-day SMA ($0.17) on April 15, indicating that the bears continue to sell on every rise.</p>
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   <figcaption class="wp-element-caption"><em>DOGE/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">The 20-day EMA ($0.17) is turning lower, and the RSI is in negative territory, signalling that bears have the edge. They will again try to sink the DOGE/USDT pair to the crucial support at $0.12. This level will likely attract buying because a break below it could open the doors for a fall to $0.08.</p>
 <p class="">On the upside, the downtrend line is an important resistance to watch out for. If buyers overcome this barrier, the pair may rise to $0.20 and later to $0.23.</p>
 <h2 class="wp-block-heading" id="toncoin-ton-market-analysis">Toncoin (TON) Market Analysis</h2>
 <p class="">Toncoin (TON) turned down from the resistance line of the ascending channel on April 15 and fell near the support line on April 15.</p>
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  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/c4230d9061986730e771a61e61bbdd4c.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>TON/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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 <p class="">The rising 20-day EMA ($5.92) and the RSI in the positive zone suggest that the bulls are in the driver’s seat. Buyers will once again try to push the price to the resistance line. If this resistance is cleared, the TON/USDT pair could pick up momentum and surge to $8.56 and then to $10.</p>
 <p class="">This optimistic view will be negated if the price turns down and dives below the channel. That will clear the path for a drop to the 50-day SMA ($4.54).</p>
 <h2 class="wp-block-heading" id="cardano-ada-market-analysis">Cardano (ADA) Market Analysis</h2>
 <p class="">The failure of the bulls to start a meaningful rebound off $0.46 increases the risk of a breakdown to $0.40 in Cardano.<a target="_blank" rel="noreferrer noopener"></a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/2d96f2c564bc1c11d6f5a32afe0f2260.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em>ADA/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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  </div> <p class="">Buyers will likely defend the $0.40 with vigour because if this support cracks, the selling could pick up, and the ADA/USDT pair may collapse to $0.35. The downsloping 20-day EMA ($0.54) and the RSI in the oversold zone indicate that bears are in control.</p> <p class="">If the price bounces off $0.40, it will suggest lower-level demand. The bulls will gain strength above $0.50. The pair could then rally to the 20-day EMA and thereafter to $0.62, where the bears may pose a strong challenge again.</p> <h2 class="wp-block-heading" id="avalanche-avax-market-analysis">Avalanche (AVAX) Market Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Avalanche’s&nbsp;</a><a target="_blank" rel="noreferrer noopener">recovery could not even reach the breakdown of $42, signalling a lack of aggressive buying by the bulls.</a></p><a target="_blank" rel="noreferrer noopener">
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/bce039e9aac09dd51294c4cfa7e0072f.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em>AVAX/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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  </div> <p class="">The downsloping 20-day EMA ($43) and the RSI near the oversold territory indicate that bears are in charge. The support to watch on the downside is $29 and then $27. If this zone cracks, the selling could intensify, and the AVAX/USDT pair could plummet to $20.</p> <p class="">The relief rally is likely to face strong selling at the downtrend line. A break and close above this resistance will be the first indication that the bulls are on a comeback. The pair could then attempt a rally to $50.</p> <h2 class="wp-block-heading" id="shiba-inu-shib-market-analysis">Shiba Inu (SHIB) Market Analysis</h2> <p class="">Shiba Inu has been trading inside a tight range for the past three days, indicating a lack of aggressive selling or buying at these levels.</p>
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/9bf9de7302fc47b068b203eeca805d11.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em>SHIB/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
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  </div> <p class="">The bears are expected to take another shot at the $0.000017 level. If this support breaks down, the selling could accelerate, and the SHIB/USDT pair may start a sharp fall toward the next significant support at $0.000010. That will complete a 100% retracement of the most recent leg of the rally.</p> <p class="">On the contrary, a rise above the downtrend line will be the first indication that the bears are losing their grip. The pair may rise to $0.000033, where the bears are expected to mount a strong defence.</p> <h4 class="wp-block-heading">Source – Rakesh&nbsp;Upadhyay</h4> </a>
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<p><a target="_blank" rel="noreferrer noopener">Source: </a><a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/latest-market-overview-17th-april-btc-eth-bnb-sol-xrp-doge-ton-ada-avax-shib-tbt86131.html">https://thebittimes.com/latest-market-overview-17th-april-btc-eth-bnb-sol-xrp-doge-ton-ada-avax-shib-tbt86131.html</a></p>

Latest Market Overview 17th April: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

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