Bitcoin experienced significant volatility on April 19 due to geopolitical tension between Iran and Israel. Despite briefly dipping below $60,000, the bears were unable to keep the price down, indicating that the bulls are attempting to establish $60,000 as a support level. According to CryptoQuant data, Bitcoin holders transferred a record-breaking amount of over 27,700 Bitcoin to accumulation addresses, suggesting that traders are focused on the long-term prospects of Bitcoin post-halving.
In terms of price analysis, Bitcoin’s long tail on April 19’s candlestick demonstrates aggressive buying by the bulls below the $60,775 support level. The relief rally has reached the 20-day exponential moving average ($66,067), where the bears may pose a strong challenge. A break and close below $60,775 would complete a double-top pattern with a target objective of $47,773, while a rise above $73,777 could propel the price to $84,000.
Ether, on the other hand, saw the bulls aggressively buying the dips as indicated by the long tail on April 19’s candlestick. The price could reach the 20-day EMA ($3,261), where a battle between the bulls and bears is expected. A break below $2,852 could lead to a collapse to $2,717 and subsequently to $2,200. However, if the price rises above the 20-day EMA, it would suggest that the correction has ended, with a potential rise to the overhead resistance of $3,679.
BNB has been consolidating between $495 and $635, reflecting indecision between the bulls and bears. If buyers overcome the obstacle at the 20-day EMA ($565), the price could rise to the overhead resistance at $635, potentially leading to a rally to $692 and ultimately $775. However, a break below $495 would complete a double-top pattern and could result in a slide to $460 and subsequently $400.
Solana has found support at $126, indicating strong buying by the bulls. The recovery is likely to reach the 20-day EMA ($158), where a sharp downturn could lead to another attempt to sink the price below $126. On the other hand, a rise above the 20-day EMA would suggest that the bears are losing their grip and could lead to a climb to $185.
XRP has been oscillating between $0.46 and $0.52, signaling a potential recovery. However, the relief rally may face selling at the downsloping 20-day EMA ($0.55), potentially retesting the critical support at $0.46. A break above the 20-day EMA would suggest that the correction may be over, with a potential rise to the 50-day SMA.
Dogecoin’s long tail on April 19’s candlestick indicates an attempt by the bulls to protect the $0.14 support level. The recovery could reach the 20-day EMA ($0.17), with the downtrend line posing a potential obstacle. The zone between $0.14 and $0.12 is likely to attract strong buying, but a break below $0.14 could result in intense selling and a move towards the support at $0.10.
Toncoin rebounded off the support line of the ascending channel pattern, with the bulls defending the level. The resistance line of the channel remains a challenge, and a slide below the channel could signal a potential trend change. On the other hand, a break above the channel could lead to a rally to $8.56 and then $10.
Cardano traded below the $0.46 support but did not slip below the April 13 low of $0.40. Buyers may push the price to the 20-day EMA ($0.52), but a sharp downturn from this level could indicate that rallies are being sold into. A slide below the $0.46 to $0.40 support zone could result in a fall to $0.35, while a move above the 20-day EMA would suggest that the correction may be over, potentially leading to a rally to the 50-day SMA.
Avalanche is consolidating in a downtrend, with the support zone between $32 and $27 likely to act as a strong level. If the price rebounds from this zone, a rally to the downtrend line could be expected. However, a break below $27 would indicate bearish control and could result in a move to $20.
Shiba Inu has been balancing between buyers and sellers near $0.000022. A break below $0.000020 could trigger a down move to $0.000017, while a rise above the downtrend line could lead to gradual gains towards $0.000033 and eventually $0.000039.
Please note that this article does not provide investment advice or recommendations, and readers should conduct their own research before making any decisions.