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Bitcoin Price Attempting Hard to Continue With Bull Run, What’s Next?

Bitcoin price rally trading below $50,000, with a breakout, the levels may slip still more lower. BTC price also manifests signs of bull run.

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Bitcoin Price Rally Expected to Flip Soon!!

The bitcoin price rally that fumed into ashes by smashing the levels below $47,000 indicating a massive correction, may revisit the similar levels soon. However, the continued bull run of bitcoin price cannot be ruled out completely, yet the timeline remains the prime focus.

The BTC price does not appear to be ready for a great bull run according to an analyst Micheal van de Poppe. According to the analysts, the price may retest the levels close to $55K else if it fails to hold at $47k, the price may plunge as low as $38K too.

On the contrary, the institutional investors may have accumulated more bitcoins at the dip as weak hands just let off their share. According to Ki Young Ju, CEO of cryptoquant, an analytics platform, nearly 13K BTC flowed out of Coinbase to multiple custody wallets.

This is speculated as the biggest bullish signal ever in the history as the speculation of the accumulation by institutions heated up amid MicroStrategy announcing more bitcoin purchases. The company bought nearly $1 billion worth bitcoin with a total of 90,531 BTC worth $4,492,274,963 with an initial investment of $2,171,000,000 as per Bitcoin Treasuries.

Will Bitcoin Flip the Bearish Momentum?

The BTC price currently has experienced multiple rejections at $51,000 and hence these levels tend to become strong resistance levels. At present, the price is attempting very hard to sustain above $50,000 manifesting the bulls sweat yet the bears tend to bring the price down below $50K.

bitcoin price growing

The recovery after two consecutive dips manifests the strong bullish momentum being mounting, and the consolidation after breaking the ‘W-shaped’ pattern indicates a major breakout may be approaching very soon.

At the time of writing, the Bitcoin price is $50,484 with a jump of just 0.08% in the last 24-hours, however, the price gained a bullish trend after a 4.15% dip in the past seven days.

Currently, the prime focus would be to sustain strongly above $50,000 and head towards the next resistance levels above $51,000. Worry lies around the support levels at $47,000 that may hinder the bitcoin price rally.

This is speculated as the biggest bullish signal ever in the history as the speculation of the accumulation by institutions heated up amid MicroStrategy announcing more bitcoin purchases. The company bought nearly $1 billion worth bitcoin with a total of 90,531 BTC worth $4,492,274,963 with an initial investment of $2,171,000,000 as per Bitcoin Treasuries.

Source: https://coinpedia.org/news/bitcoin-price-may-flip/

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Coinpedia

Binance Coin (BNB) Price Second Hyperwave Programmed, $500 Inevitable!

Binance coin (BNB) price headed strongly above $400 to mark new ATH despite a drop close to $350. Coinpedia

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The Binance Coin surge was one of the eye-catching rallies within the crypto space which emerged from rugs to riches in no time. The platform burns a stipulated amount of coins frequently that assist the price movement towards the north.

However, another burn event is scheduled in the coming couple of days, that may enhance the target from $500 to probably $600 too. With the intensified rally, the price may also hit the levels close to $1000 as per analyst and founder of Gokhstein Media, David Gokhstein.

$BNB will probably end up being a $1000 token.

Don’t @ me –

— David Gokhshtein (@davidgokhshtein) April 9, 2021

Interestingly, the ongoing second wave of the price surge is speculated as more sustainable and steady than the first wave in february 2021. As the price climbed high registering huge green candles in a short time frame. In contrast to the current movement, where-in a steady growth including both the greens and red be a part of the parabolic move.

Also Read: BNB Price Brewing For a Massive Bullish Rally! $450 for BNB Soon?

Binance Coin (BNB) Price Analysis

BNB price has successfully retested its old All time high as support on the lower time frames, even forming a bull flag. Moreover the surging transactions on Binance Smart Chain due to affordable transaction fees also fueled the BNB price rally.

The BNB price gained more than 10% spike since the past trading day and managed to trade close to $450 target levels. The price that has entered the discovery phase is expected find new highs very soon.

bnb price

At the time of writing, the BNB price is $442.31 with a massive surge of 12.04% in the past 24 hours. The indicators also point out towards a bullish trend as the RSI indicators trending in the overbought region close to 80. The price bounced back from the 20-day MA, while the MACD signaled a buy.

bnb indicator

Technical Specifications

  • The resistance levels of Binance Coin is in the discovery mode
  • The support levels are around $400
  • The indicators for BNB price point out towards a buy signal

Also Read: BNB Price Analysis: Uptrend Continues to Fresh ATHs

Don’t @ me –

Source: https://coinpedia.org/altcoin/bnb-price-second-rally-initiated/

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Coinpedia

IOTA Price Analysis: Sustains Upside Run for the 3rd Day in a Row

However, bulls need to close above the $1.70 level to boost the signal as IOTA’s positive impetus looks steady as buyers dictate the trend.

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IOTA/USD rose to the highest in more than two weeks on Tuesday, resuming recovery leg from $1.45 (Apr. 4 low) after bulls took a breather at the end of the prior week.

*Fresh strength on IOTA’s traction may revive bullish appeal and lift the price
*IOTAs positive impetus looks steady as buyers dictate trend
*IOTA announces the final phase of Chrysalis network upgrade

IOTA/USD is creeping higher to retest a durable tentative horizontal barrier pulled from the prior yearly high of $1.88. However, today’s footing within the upside channel appears somewhat not up to the task at hand, as lingering above is the daily red candle formation. However, bulls need to close above the $1.70 level to boost the signal as IOTA’s positive impetus looks steady as buyers dictate the trend. The asset is currently 30th on the Coinmarketcap table, with a market cap of $4.70 billion, and $208 million in trade at the time of writing. The current spot price is at the time of this post is $1.75.

Announces the Final Phase of Chrysalis Network Upgrade

In an April 5 official blog post, IOTA announces the final phase of the Chrysalis network upgrade. It stated – Over the last year we have been working to transition the IOTA protocol towards production readiness. We are now in the final phase of the biggest upgrade in IOTA’s history. Today we are happy to announce the official start date of the Chrysalis network migration – Wednesday, April 21st, 2021. The network upgrades will officially happen on Wednesday, April 28th, 2021. The first phase of Chrysalis was deployed on the IOTA network in August 2020.

IOTA Daily Chart: Ranging IOTA/USD Daily Chart

IOTA extends strong rebound into the third consecutive day spurred by the buying wave in the Altcoin market. IOTA resumed the uptrend leg from $1.45 (Mar 31 low) after a consolidation phase on reaching the prior yearly high at $1.84. A fresh yearly high is set at $1.88 and the pair is currently consolidating gains. There is also an ascending trend line with support near $1.45 on the daily chart.

If there is a downside correction, the ascending trend line could provide support near $1.45. Any more losses might call for a test of the $1.38 support or the daily MA 50. On the upside, a resistance is formed at the yearly high at $1.88, above which the pair could accelerate higher towards $2. The next major stop for the bulls could be around $3 in the coming days. Everything being equal, IOTA could continue to surge in an ascending trendline pattern during the following trading sessions.

IOTA/USD 4-Hour Chart: Ranging IOTA/USD 4-Hour Chart

The IOTA/USD pair rebounded from a support level formed by the 4-hour MA 50 at $1.50 on April 4. As a result, IOTA was able to rise to fresh highs of $1.86. Bears sold at higher levels and pulled the price to lows of $1.64 on April 6. The positive sign is that the bulls have held on to the uptrend for the past three days. Immediate resistance is at the prior yearly high at $1.84 ahead of the $1.88 high.

If the bulls can drive the price above $1.88, the IOTA/USD pair could begin the next leg of the rally with a target objective of $2.0 and then $2.50. On the contrary, if the price again turns down from the overhead resistance zone, support awaits at the recent consolidative lows of $1.64 ahead of the MA 50 ($1.60). If the IOTA price plummets below the MA 50, MIOTA range-bound action may continue for a few more days before seeking support at the MA 200 ($1.43).

Key Levels
Resistance Levels: $3.0, $2.0, $1.88
Support Levels: $1.70, $1.60, $1.50

Image Credit: Tradingview

Note: coinpedia.org is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event.

Source: https://coinpedia.org/price-analysis/iota-price-analysis-sustains-upside-run-for-the-3rd-day-in-a-row/

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Dogecoin, Siacoin, EOS Price Analysis – How Will they Perform in April?

The cryptocurrency markets are in full boom with new projects and news every other day. The prices of some of the Altcoins, DOGE, SC, and EOS.

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The cryptocurrency markets are in full boom with the announcement of new projects every other day. Today we will analyse the prices of some of the Altcoins, DOGE, SC, and EOS. The year 2021 has proved to be the biggest of the Alt Seasons so far with almost every currency hitting their ATH.

It is a known factor that the majority of the altcoin prices follow the lead of Bitcoin in the Crypto markets. Bitcoin is pivoting around the ATH levels, which is helping a lot of coins to be bullish.

Also, Just because the markets are bullish, we cannot blindly take it for granted. Hence we present to you the market analysis of the Altcoins as follows.

Technical Price Analysis of Dogecoin – DOGE

Dogecoin has resorted to consolidation after a surge on April 1, 2021. The reason for this surge was a Tweet made by the Billionaire entrepreneur Elon Musk. The DOGE hit $0.066 on 1st April, later plunged to $0.05918 due to selling pressure.

The current Market capitalization of Dogecoin is $7,637,398,078, making it the #18 crypto on CoinMarketCap. Transaction volumes increased to a whopping $4.62 Billion with a 171.19% change in just 24 hours. The total circulating supply of DOGE is 129,017,654,677 DOGE as of now.

DOGE 30 minutes Candle Chart

The Doge is forming a Flat-bottom descending triangle with support at $0.058, with next support at $0.054. The Resistances are $0.060, $0.062, $0.068. There is a possibility to break out and follow the uptrend if the buyers take charge of the market.

The RSI is at 48 indicating that price action could drive the trend.

MACD is turning slightly bullish, with sufficient overhead for an uptrend. The price is following the Bollinger band contraction.

As observed earlier, the token tends to lose its uptrend if there is no sufficient news to pump the prices. A coin created as a parody has become one of the top 20 cryptos.

Support: $0.058, $0.054

Resistance: 0.060, $0.062, $0.068

RSI: 48

MACD: Neutral to Bullish

Technical Price Analysis of Siacoin – SC

Siacoin(SC) has reached $0.03252 with a 20% jump. The Market capitalization of SC reached $1,536,675,251 with this rise. The volumes of exchange also increased by 100%, worth up to $476,088,920 in the last 24 hours.

Siacoin has been steadily gaining momentum and formed an ascending parallel pattern indicating an uptrend on the 30 minute Candle chart Pattern. The price can expect support at $0.03, $0.028, $0.0264.

Siacoin 30 minutes Candle Chart

The resistance level is $0.032. The RSI at 61, near the bought zone. However, there is sufficient overhead. MACD and Bollinger bands indicate the bulls taking control of the market. The Experts suggest that the parallel ascending pattern may continue or there could be corrections and consolidation before any uptrend for Siacoin.

Support : $0.03, $0.028, $0.0264

Resistance : $0.032

RSI : 61

MACD : Bullish

Technical Price Analysis of EOS

EOS has been ranked as the 24th currency in terms of Market capitalization according to CoinMarketCap. It boasts a $5,347,804,387 cap with 952,189,014 EOS in circulating supply. The current Market capitalization is estimated by considering the LTP of $5.62.

EOS 30 minutes Candle Chart

The 30 minutes candle chart shows a Cup and handles pattern taking shape. Although the cryptomarkets have been bullish this year, this is one of the currencies which could not reach ATH prices. But the rise has been phenomenal with a 16.86% it is performing well above its ICO price.

The possible supports are at $5.5, $5.2, $4.8, which can hold the prices if there is a trend reversal and prices drop. The Resistance is offered at $5.7, $5.8, $6.0. The RSI stands at 55, which is a neutral level. MACD is neutral to bullish. The Bollinger bands are converging indicating a major move after consolidation.

Supports : $5.5, $5.2, $4.8

Resistance : $5.7, $5.8, $6.0

RSI : 55

MACD : Neutral to Bullish

The Doge is forming a Flat-bottom descending triangle with support at $0.058, with next support at $0.054. The Resistances are $0.060, $0.062, $0.068. There is a possibility to break out and follow the uptrend if the buyers take charge of the market.

Source: https://coinpedia.org/price-analysis/price-analysis-altcoins-dogecoin-eos-siacoin/

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