Price analysis 4/21: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK

1 month ago

The US Dollar Index (DXY) plunged beneath the 98 level connected April 21, falling to a three-year low. That catapulted golden to a caller all-time high, and Bitcoin (BTC) besides showed strength, rising supra $88,000.

BitMEX co-founder and Maelstrom main concern serviceman Arthur Hayes believes it whitethorn beryllium the “last chance” to buy Bitcoin beneath $100,000. Hayes expects the Federal Reserve to denote US Treasury buybacks, which volition enactment arsenic a “Bazooka” for Bitcoin’s terms trajectory.

The whales look acceptable for the determination higher, arsenic they person been accumulating successful March and April. According to Glassnode data, the fig of wallets holding much than 1,000 Bitcoin accrued from 2,037 successful precocious February to 2,107 connected April 15.

Could Bitcoin bulls prolong the higher levels, triggering a rally toward $100,000? Will the altcoins follow? Let’s analyse the charts to find out.

S&P 500 Index terms analysis

The S&P 500 Index (SPX) betterment deed a partition astatine the 20-day exponential moving mean (5,399) connected April 14.

The 5,119 level is the captious enactment to ticker retired for connected the downside. If this level gets taken out, the scale could plummet to 4,950. The bulls are expected to vigorously support the portion betwixt 4,950 and 4,835.

Instead, if the terms rebounds disconnected 5,119, it signals that the bulls are trying to signifier a higher low. The scale could past oscillate betwixt 5,119 and 5,500 for a while. Buyers volition person to thrust the terms supra 5,500 to awesome that the correction whitethorn beryllium over.

US Dollar Index terms analysis

The US Dollar Index resumed its downtrend connected April 21, indicating that the bears stay successful charge.

The scale could illness to 97.50, which could enactment arsenic beardown support. The oversold level connected the comparative spot scale (RSI) signals a imaginable alleviation rally successful the adjacent term. Sellers are expected to aggressively support the portion betwixt 99 and 100.27 connected immoderate betterment attempt. If the terms turns down from the overhead zone, the scale risks a autumn to 95.

The archetypal motion of spot volition beryllium a interruption and adjacent supra the 100.27 resistance. That indicates coagulated buying astatine little levels. A short-term inclination alteration is apt if buyers propel the terms supra the 20-day EMA (101.64).

Bitcoin terms analysis

Bitcoin made a decisive determination higher aft days of narrow-range trading, and the terms has reached a captious absorption astatine the 200-day SMA ($88,238).

The moving averages are astir to implicit a bullish crossover, and the RSI has risen into affirmative territory, indicating an vantage to buyers. If the 200-day SMA is scaled, it suggests that the BTC/USDT brace whitethorn person bottomed retired successful the adjacent term. The brace could rally to $95,000 and subsequently to the psychologically captious level of $100,000.

The 20-day EMA ($84,176) is apt to enactment arsenic beardown enactment during immoderate pullback. A interruption and adjacent beneath the 20-day EMA signals that the bears are backmost successful the game. The brace whitethorn past tumble to $78,500.

Ether terms analysis

Ether (ETH) remains successful a downtrend, but the bulls are trying to commencement a alleviation rally by pushing the terms supra the 20-day EMA ($1,659).

The betterment is expected to look selling successful the portion betwixt $1,754 and the 50-day SMA ($1,846). If the terms turns down from the overhead zone, it heightens the hazard of a interruption beneath $1,368.

Contrarily, a interruption and adjacent supra the 50-day SMA clears the way for a rally to the breakdown level of $2,111. Sellers are expected to support the level with each their mightiness due to the fact that a interruption supra it suggests that the ETH/USDT brace whitethorn person bottomed out. The brace whitethorn past emergence to $2,600.

XRP terms analysis

XRP (XRP) has risen supra the 20-day EMA ($2.09), indicating that the bearish momentum has weakened.

There is absorption astatine the 50-day SMA ($2.21), but if the level is crossed, the XRP/USDT brace could march toward the absorption line. Sellers are expected to fiercely support the absorption enactment due to the fact that a rally supra it signals a imaginable inclination change.

The $2 level is the important enactment connected the downside. A interruption and adjacent beneath $2 indicates that the bears stay successful command. The brace whitethorn past tumble to $1.72 and yet to $1.61.

BNB terms analysis

BNB (BNB) broke retired of the downtrend enactment connected April 21, indicating that the bulls are trying to prehend control.

A adjacent supra the downtrend enactment opens the doors for a rally to $645. Sellers volition effort to halt the up determination astatine $645, but if the bulls bash not springiness up overmuch ground, the BNB/USDT brace whitethorn emergence to $680.

Time is moving retired for the bears. If they privation to marque a comeback, they volition person to rapidly propulsion the terms beneath $566. Such a determination indicates that the markets person rejected the breakout supra the downtrend line. The brace could past walk immoderate much clip wrong the triangle.

Solana terms analysis

Solana (SOL) has been gradually climbing toward the $148 to $153 overhead absorption zone, indicating that the bears are losing their grip.

The moving averages are connected the verge of completing a bullish crossover, and the RSI is successful the affirmative zone, indicating that the way of slightest absorption is to the upside. The SOL/USDT brace could rally to $180 if buyers pierce the overhead zone.

On the contrary, if the terms turns down sharply from the overhead zone, it suggests that the bears are selling connected rallies. That could support the brace range-bound betwixt $153 and $120 for immoderate time.

Dogecoin terms analysis

Dogecoin (DOGE) has been clinging to the 20-day EMA ($0.16), indicating that the selling unit is reducing.

The flattening 20-day EMA and the RSI adjacent the midpoint suggest a equilibrium betwixt proviso and demand. A interruption and adjacent supra the 50-day SMA ($0.17) tilts the vantage successful favour of the bulls. The DOGE/USDT brace could past rally to $0.21.

The $0.14 level remains the cardinal enactment to ticker retired for connected the downside. Sellers volition person to yank the terms beneath $0.14 to awesome the resumption of the downtrend. The brace could driblet to $0.13 and aboriginal to $0.10.

Cardano terms analysis

The bulls are trying to support Cardano (ADA) supra the 20-day EMA ($0.63), signaling a comeback.

The ADA/USDT brace could emergence to the 50-day SMA ($0.69), which is simply a important near-term absorption to ticker retired for. If buyers footwear the terms supra the 50-day SMA, it suggests that the corrective signifier whitethorn beryllium over. The brace could ascent to $0.83 and thereafter to $1.03.

If the terms turns down from the 50-day SMA, the bulls volition effort to halt the pullback astatine the 20-day EMA. If that happens, it increases the anticipation of a emergence supra the 50-day SMA. The vantage volition tilt successful favour of the bears connected a interruption beneath $0.58.

Chainlink terms analysis

Chainlink (LINK) closed supra the 20-day EMA ($12.90) connected April 19 and has reached the 50-day SMA ($13.63).

Sellers volition effort to support the 50-day SMA, but if the bulls flooded the barrier, the LINK/USDT brace could prime up momentum and rally toward the absorption enactment of the descending transmission pattern. The $16 level whitethorn enactment arsenic a hurdle, but it is apt to beryllium crossed.

The archetypal enactment connected the downside is the 20-day EMA and past $11.68. A interruption and adjacent beneath $11.68 suggests that bears stay successful control. The brace whitethorn past slump to the enactment line, wherever buyers are expected to measurement in.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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