Shiba

Bitcoin

Toncoin

April

Shiba Inu

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 <p class=""><strong>The Bitcoin market is currently experiencing a tense confrontation between buyers and sellers around the $69,000 threshold, with buyers maintaining a slight advantage.</strong></p>
 <p class="">The BTC Market is persistently hovering near the $69,000 mark, signalling an intense struggle between bullish and bearish forces. While some analysts anticipate that the impending Bitcoin halving could serve as a significant catalyst, recent findings from CryptoQuant, a crypto analytics firm, suggest that the impact of the halving is diminishing over time. According to their research, the reduction in new Bitcoin issuance relative to selling pressure from long-term holders is becoming less pronounced.</p>
 <p class="">Adding to the near-term cautious sentiment is Arthur Hayes, co-founder of BitMEX, who predicts pronounced weakness in high-risk assets until May 1st. However, Hayes remains optimistic about the medium-term outlook, foreseeing a price surge driven by the Bitcoin halving.</p>
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   <figcaption class="wp-element-caption"><em><sub>Crypto market data daily view. Source:&nbsp;</sub></em><sub><em>Coin360</em></sub>
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 <p class="">If one rides the short-term volatility, the subsequent rally could cheer investors in the long term. Bitfinex analysts said in a research report shared with Cointelegraph that Bitcoin could soar 160% post-halving&nbsp;to reach between $150,000 and $169,000 in the next 14 months.</p>
 <p class="">Will Bitcoin bulls assert their supremacy and push the price higher, or will the bears return? 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 Bitcoin market broke above the symmetrical triangle on April 8, but the bears yanked the price back into the triangle on April 9. This shows that the bears are trying to trap the aggressive bulls.</p>
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  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/30bb562824729e7d2ea769ad6da546eb.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em><sub>BTC/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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 <p class="">A minor positive in favour of the buyers is that they are trying to buy the dip to the 20-day exponential moving average ($68,497). If the price rebounds off the 20-day EMA, the BTC/USDT pair will make another attempt to rise above the $73,777 overhead resistance. If that happens, the pair could rally to $80,000 and then to $84,000.</p>
 <p class="">Conversely, if the price breaks below the 20-day EMA, the bears will sense an opportunity and pull the pair down to the uptrend line. A break and close below the triangle will suggest the start of a corrective phase toward $60,000 and eventually to the 61.8% Fibonacci retracement level of $54,298.</p>
 <h2 class="wp-block-heading" id="ether-eth-market-analysis">Ether (ETH) Market Analysis</h2>
 <p class="">The Ether&nbsp;market turned down sharply on April 9 from the overhead resistance of $3,679, indicating that the bears are unwilling to relent.</p>
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  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/831a6d8e65e43f2dcdc35e93f4554286.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em><sub>ETH/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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 <p class="">The bulls are trying to stall the decline at the 20-day EMA ($3,479). If the price rises from the moving averages, the bulls will have another go at the $3,679 level. If this resistance is removed, the ETH/USDT pair may rally to the overhead resistance of $4,100.</p>
 <p class="">Contrary to this assumption, if the price slips below the moving averages, it will suggest that the range-bound action between $3,056 and $3,679 may extend for a few more days. On a break below $3,056, the trend will favor the bears.</p>
 <h2 class="wp-block-heading" id="bnb-market-analysis">BNB Market Analysis</h2>
 <p class="">BNB&nbsp;<a target="_blank" rel="noreferrer noopener">turned lower from the downtrend line on April 8, but the bulls did not allow the price to sink back below the 20-day EMA ($574). This shows buying on every minor dip.</a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/778b094a9a65828cbac9ac0f64fcbc8d.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>BNB/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The 20-day EMA is gradually sloping up, and the RSI is in positive territory, suggesting that the path of least resistance is to the upside. If buyers maintain the price above the triangle, the BNB/USDT pair could rise to $692 and attempt a rally to the pattern target of $795.</p> <p class="">The bears are likely to have other plans. They will try to defend the downtrend line and sink the price to the uptrend line. A break below this support will signal the start of a correction toward $460.</p> <h2 class="wp-block-heading" id="solana-sol-price-analysis">Solana (SOL) Price Analysis</h2> <p class="">The bulls struggle to push Solana&nbsp;above the 20-day EMA ($178), signalling that the bears are trying to flip the level into resistance.</p>
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    <figcaption class="wp-element-caption"><em><sub>SOL/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The bears will try to sink the SOL/USDT pair below the 50-day SMA ($159), but the bulls will likely protect the level vigorously. If the price rebounds off the 50-day SMA and rises above the 20-day EMA, it will suggest that the pair may consolidate between $162 and $205 for a while longer.</p> <p class="">Alternatively, the pair will complete a double-top pattern if the price continues lower and breaks below the 50-day SMA. The pair could collapse to the next strong support at $126.</p> <h2 class="wp-block-heading" id="xrp-price-analysis">XRP Price Analysis</h2> <p class="">Buyers tried to extend XRP’s recovery above the moving averages on April 9, but the long wick on the candlestick shows selling on rallies.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/b85dd20595061d9bef6a1a4314fb6487.webp" alt="" title="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>XRP/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The flattish moving averages and the RSI near the midpoint suggest a balance between supply and demand. Over the next few days, that could keep the XRP/USDT pair range-bound between $0.56 and $0.69.</p> <p class="">If the price rises above $0.69, the advantage will tilt in favor of the buyers. That could clear the path for a rally to the formidable level of $0.74. On the downside, a drop below $0.56 could sink the pair to $0.48.</p> <h2 class="wp-block-heading" id="dogecoin-doge-price-analysis">Dogecoin (DOGE) Price Analysis</h2> <p class="">Dogecoin’s&nbsp;relief rally met with heavy selling pressure from the bears near $0.21 on April 8.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/9e523ba6ea69520bf5db2d73d03b4408.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>DOGE/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The bulls purchased the dip to the 20-day EMA ($0.19) on April 10, suggesting demand at lower levels. Buyers will make another attempt to drive the DOGE/USDT pair above $0.21. If they manage, the pair may climb to $0.23. A break and close above this level will signal the resumption of the uptrend toward $0.30.</p> <p class="">Bears must sustain the price below the 20-day EMA if they want to prevent the upward move. The pair could then descend to the 50-day SMA ($0.16).</p> <h2 class="wp-block-heading" id="toncoin-ton-price-analysis">Toncoin (TON) Price Analysis</h2> <p class="">Toncoin (TON) has been trading inside an ascending channel pattern for the past few days. The price picked up momentum after breaking above $5.69 on April 8.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/b3dd02bc3874770c10885e46f359f911.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>TON/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The bears are trying to stall the upmove at the resistance line. The TON/USDT pair could drop to the channel’s support line if the price turns sharply from the current level. The Bulls are expected to fiercely defend the support line because a break below it may start a deeper correction.</p> <p class="">A break and close above the channel will signal the start of a vertical rally. The pair may surge to $8.56 and then to $10.</p> <h2 class="wp-block-heading" id="cardano-ada-price-analysis">Cardano (ADA) Price Analysis</h2> <p class="">Cardano’s&nbsp;recovery hit a wall at the 20-day EMA ($0.61) on April 9, signalling that the sentiment remains negative and traders sell on rallies.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/6cf12cc9c8f9ddb9dd196ae724514569.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>ADA/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The price dipped to solid support at $0.57, a critical level to watch out for soon. If the price rebounds off the current level and rises above the 20-day EMA, it will suggest that the ADA/USDT pair may remain range-bound between $0.57 and $0.68 for a few more days.</p> <p class="">On the other hand, a break below $0.57 will complete a bearish head-and-shoulders pattern, which could start a downward move toward the critical support of $0.46.</p> <h2 class="wp-block-heading" id="avalanche-avax-price-analysis">Avalanche (AVAX) Price Analysis</h2> <p class="">Avalanche&nbsp;turned lower from the downtrend line on April 9, suggesting that the bears continue to sell on relief rallies.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/04/23/c12edb8addb93fcc0572e65ac6276e48.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><sub>AVAX/USDT daily chart. Source:&nbsp;</sub></em><sub><em>TradingView</em></sub>
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  </div> <p class="">The AVAX/USDT pair is stuck between the downtrend line and $42. If the bulls propel the price above the downtrend line, it will suggest that the selling pressure is reducing. The pair could then attempt a rally to $60.</p> <p class="">This view will be invalidated if the price continues lower and breaks below $42. That will indicate the start of the next leg of the downtrend. The pair may plummet to $35, which is likely to act as a formidable support.</p> <h2 class="wp-block-heading" id="shiba-inu-shib-price-analysis">Shiba Inu (SHIB) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">The bulls tried to push Shiba Inu</a><a target="_blank" rel="noreferrer noopener">&nbsp;above the downtrend line, but the bears held their ground. However, a minor positive in favor of the bulls is that they have not allowed the price to dip below the 61.8% Fibonacci retracement level of $0.000023.</a></p><a target="_blank" rel="noreferrer noopener">
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  </div> <p class="">The flattish 20-day EMA ($0.000028) and the RSI near the midpoint suggest a balance between buyers and sellers. The first sign of strength will be a break and close above the downtrend line. That could open the doors for a rise to $0.000033 and subsequently to $0.000039.</p> <p class="">Contrarily, a drop below $0.000023 will signal that bears are trying to take charge. The SHIB/USDT pair may slump to $0.000017.</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-10th-april-btc-eth-bnb-sol-xrp-doge-ton-ada-avax-shib-tbt86116.html">https://thebittimes.com/latest-market-overview-10th-april-btc-eth-bnb-sol-xrp-doge-ton-ada-avax-shib-tbt86116.html</a></p>

Latest Market Overview 10th April: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

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