Shiba

Bitcoin

Toncoin

April

Shiba Inu

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 <p class=""><strong>The Bitcoin market is expected to maintain a narrow trading range for a few days as market participants struggle for dominance ahead of the halving.</strong></p>
 <p class="">The cryptocurrency is currently consolidating within an upward trend, reflecting a battle between bullish and bearish forces. The short-term advantage seems to lie with the bears, given historical trends showing a typical 8.33% decrease in Bitcoin prices during the 14th week of the year, as per Coinglass data.</p>
 <p class="">During this period of Bitcoin’s price stability, traders are likely to monitor the performance of spot Bitcoin-exchange closely traded funds (ETFs), which have been influential in driving prices. A comparison with March, when trading volumes experienced a significant increase, could be insightful.</p>
 <p class="">According to Eric Balchunas, an ETF analyst at Bloomberg, spot Bitcoin ETF trading volumes surged from $42.2 billion in February to $111 billion in March.</p>
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   <figcaption class="wp-element-caption"><em><sub><strong>Crypto market data daily view. Source:&nbsp;</strong></sub></em><sub><strong><em>Coin360</em></strong></sub>
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 <p class="">However, Bitcoin’s halving approach increases uncertainty. Independent analyst Rekt Capital believes the pullback is part of the pre-halving retrace&nbsp;that resulted in a 38% drop in 2016 and 20% in 2020.</p>
 <p class="">What are the critical levels to watch out for in Bitcoin and altcoins? 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 bulls’ repeated failure to propel the price above $71,770 may have tempted the short-term traders to give up. That sent the price tumbling below the 20-day exponential moving average ($67,646) on April 2.</p>
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   <figcaption class="wp-element-caption"><em><strong><sub>BTC/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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 <p class="">The 20-day EMA has flattened out, and the relative strength index (RSI) is near the midpoint, indicating a balance between supply and demand. This equilibrium could tilt in favour of the bears if the price skids below the 50-day simple moving average ($63,098). That could open the doors for a drop to $59,000 and subsequently to the 61.8% Fibonacci retracement level of $54,298.</p>
 <p class="">On the other hand, if the price rises from the current level and rises above the 20-day EMA, it will suggest that the BTC/USDT pair may stay range-bound for some time. The bulls will have to shove the price above the $71,770 to $73,777 resistance zone to signal the start of the next leg of the uptrend to $80,000.</p>
 <h2 class="wp-block-heading" id="ether-eth-market-analysis">Ether (ETH) Market Analysis</h2>
 <p class="">The Ether market&nbsp;tumbled below the 50-day SMA ($3,414) on April 2, opening the doors for a retest of the March 20 low of $3,056.</p>
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  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/fcd6e64878415eb9404c9d79adad2ee5.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em><strong><sub>ETH/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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 <p class="">The 20-day EMA ($3,493) has started to turn down, and the RSI is just below the midpoint, indicating that the Bears have the upper hand. If the price breaks below $3,056, the selling could pick up, and the ETH/USDT pair may collapse to $2,700.</p>
 <p class="">Bulls must push the price back above the moving averages if they want to prevent the fall. That will suggest a range-bound action between $3,056 and $3,679. A break and close above $3,679 will indicate that bulls are back in the driver’s seat. The pair may then rise to $4,100.</p>
 <h2 class="wp-block-heading" id="bnb-market-analysis">BNB Market Analysis</h2>
 <p class="">BNB&nbsp;<a target="_blank" rel="noreferrer noopener">slipped below the 20-day EMA ($561) on April 2, indicating the bullish momentum is weakening.</a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/45f992dcb40f22feb040eadcb7bb92af.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>BNB/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The 20-day EMA is flattening out, and the RSI is just above the midpoint, indicating a range-bound action in the near term. If the price rises from the current level, it could increase to the downtrend line.</p> <p class="">Conversely, if the price continues lower and breaks below $535, the next stop will likely be $495. This level may be strong support, but if the bears prevail, the decline could extend to the breakout level of $460.</p> <h2 class="wp-block-heading" id="solana-sol-price-analysis">Solana (SOL) Price Analysis</h2> <p class="">Solana&nbsp;fell to the 20-day EMA ($181) on April 2, but the sharp rebound on April 3 shows the sentiment remains positive and traders are buying on dips.</p>
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    <figcaption class="wp-element-caption"><em><strong><sub>SOL/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The bulls will again try to overcome the barrier at $205. If they succeed, the SOL/USDT pair could signal the start of the next leg of the uptrend. The pair may rally to $243 and later to $260.</p> <p class="">However, if the price again turns down from $205, it will indicate that the bears are fiercely defending the level. That increases the possibility of a drop below the 20-day EMA. If that happens, the short-term traders may dump their positions, pulling the pair to the 50-day SMA ($150).</p> <h2 class="wp-block-heading" id="xrp-price-analysis">XRP Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">XRP&nbsp;</a><a target="_blank" rel="noreferrer noopener">remains stuck inside the extensive range between $0.46 and $0.74. The price fell below the uptrend line on April 1, indicating that the bears are trying to take charge.</a></p><a target="_blank" rel="noreferrer noopener">
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    <figcaption class="wp-element-caption"><em><strong><sub>XRP/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The bulls have not given up and are trying to start a relief rally, which is likely to face selling at the 20-day EMA ($0.61). If the price turns down from this resistance, the likelihood of a drop below $0.56 increases. The XRP/USDT pair could then slump to $0.52.</p> <p class="">Instead, if buyers drive the price above the 20-day EMA, it will signal solid buying at lower levels. The pair could then rise to $0.69 and eventually to $0.74, which remains the critical resistance to cross.</p> <h2 class="wp-block-heading" id="cardano-ada-price-analysis">Cardano (ADA) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Sustained selling pressure has pulled Cardano&nbsp;</a><a target="_blank" rel="noreferrer noopener">to the strong support at $0.57. Buyers are expected to defend this level vigorously.</a></p><a target="_blank" rel="noreferrer noopener">
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    <figcaption class="wp-element-caption"><em><strong><sub>ADA/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">If the price rebounds off the $0.57 level, it will likely face selling at the 20-day EMA ($0.64). If the price turns lower from the 20-day EMA, it will increase the possibility of a drop below $0.57. That will complete a bearish head-and-shoulders pattern, which could clear the path for a fall to the critical support at $0.46.</p> <p class="">Contrarily, if the price turns up and breaks above the 20-day EMA, it will suggest that the ADA/USDT pair may consolidate between $0.57 and $0.68 for a while. A rise above $0.68 indicates the corrective phase may be over.</p> <h2 class="wp-block-heading" id="dogecoin-doge-price-analysis">Dogecoin (DOGE) Price Analysis</h2> <p class="">Dogecoin&nbsp;turned down sharply on April 2 and nosedived below the breakout level of $0.19, signalling that the traders are aggressively booking profits.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/451e4823252986f77d909e4f234e14d0.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>DOGE/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The DOGE/USDT pair continued lower and slipped below the 20-day EMA ($0.18) on April 3, but the long tail on the candlestick shows solid buying at lower levels. If the buyers push the price back above $0.20, it will suggest that the correction may be over. The bulls will then try to challenge the overhead resistance at $0.23.</p> <p class="">On the contrary, if the price turns down and maintains below the 20-day EMA, it will suggest that every minor rally is being sold. The pair may then slump to the 50-day SMA ($0.14).</p> <h2 class="wp-block-heading" id="avalanche-avax-price-analysis">Avalanche (AVAX) Price Analysis</h2> <p class="">The failure to rise above the downtrend line accelerated selling, and Avalanche&nbsp;plunged below the breakout level of $50 on April 2.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/68f9cc737958da6b21f57699ebe65b6b.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>AVAX/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The selling continued, and the AVAX/USDT pair dropped below the 50-day SMA ($47) on April 3. Buyers are trying to defend the 50-day SMA, but the recovery will likely face selling at the 20-day EMA.</p> <p class="">If the price turns down from the 20-day EMA, it will increase the likelihood of a break below the 50-day SMA. The pair could then retest the crucial support at $42. This bearish view will be invalidated on a break and close above the downtrend line.</p> <h2 class="wp-block-heading" id="shiba-inu-shib-price-analysis">Shiba Inu (SHIB) Price Analysis</h2> <p class="">Shiba Inu&nbsp;fell below the 20-day EMA ($0.000028) on April 2, indicating that the bears remain active at higher levels.</p>
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    <figcaption class="wp-element-caption"><em><strong><sub>SHIB/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The SHIB/USDT pair could drop to the 50-day SMA ($0.000023), which will likely be a solid support. If the price rebounds off this level, the bulls will attempt to push the pair to $0.000033. A break and close above this level will be the first sign that the Bulls are on a comeback. The pair may then attempt a rally to $0.000039.</p> <p class="">Instead, if the price plummets below the 50-day SMA, it will suggest the start of a deeper correction toward $0.000017.</p> <h2 class="wp-block-heading" id="toncoin-ton-price-analysis">Toncoin (TON) Price Analysis</h2> <p class="">Toncoin (TON) reached the 20-day EMA ($4.63) on April 3, an important level to monitor.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/ce75b3282d15ac9d1ffd8944ef995e57.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>TON/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">If the rebound off the 20-day EMA sustains, it will suggest that traders continue to buy at lower levels. That could keep the TON/USDT pair stuck inside a range between the 20-day EMA and $5.69 for some time.</p> <p class="">Alternatively, if the price turns down and plummets below the 20-day EMA, it will signal that the bulls are booking profits quickly. That could sink the pair to the 61.8% Fibonacci retracement level of $4.22.</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-3rd-april-btc-eth-bnb-sol-xrp-ada-doge-avax-shib-ton-tbt86097.html">https://thebittimes.com/latest-market-overview-3rd-april-btc-eth-bnb-sol-xrp-ada-doge-avax-shib-ton-tbt86097.html</a></p>

Latest Market Overview 3rd April: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, TON

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