The American dollar index (DXY) dropped below the level 98 21, falling to the three -year lowest level. This catapulted gold to the fresh highest level of all time, and Bitcoin (BTC) also showed strength, rising above USD 88,000.
Co -founder of Bitmex and investment director Maelstrom Arthur Hayes believes that this may be the “last chance” to buy Bitcoin below 100,000 USD. Hayes expects the Federal Reserve to announce a redemption in the USA, which will act as “Bazooka” for the Bitcoin price trajectory.
Whales seem ready to be higher because they gathered in March and April. According to Glassnode, the number of portfolios containing over 1000 Bitcoins increased from 2037 at the end of February to April 2 107.
Can Bitcoin Bulls maintain higher levels, so causing a $ 100,000? Will Altcoins go? Let’s analyze the charts to find out.
S&P 500 index price analysis
Recovery of the S&P 500 (SPX) index hit the wall in a 20-day interpretation average movable (5399) on April 14.
Level 5119 is a critical support that should be cared for in the minus. If this level is removed, the index may drop to 4950. It is expected that the bulls will vigorously defend the zone from 4950 to 4835.
Instead, if the price reflects to 5119, it signals that Bulls are trying to create a higher level. The indicator can then oscillate from 5119 to 5500 for a while. Buyers will have to drive a price above 5500 to signal that the correction may end.
Analysis of the price of the American dollar index
The American dollar index resumed its downward trend on April 21, which indicates that the bears remain responsible.
The index can collapse to 97.50, which can act as mighty support. The level of sale of the relative force indicator (RSI) signals the possible rally in the near future. Sellers are expected to aggressively defend the zones between 99 and 100.27 with each attempt to recover. If the price drops from the general zone, the index risks a decrease to 95.
The first sign of strength will be a break and closes above resistance 100.27. This indicates solid shopping at lower levels. A short-term change of trends is likely if buyers support the price above 20-day EMA (101.64).
Bitcoin prices analysis
Bitcoin raised the decisive movement higher after the days of narrow range trading, and the price reached critical resistance in 200-day SMA (USD 88,238).
The average movable ones soon ended with a stubborn crossover, and RSI increased to a positive territory, which indicates the advantage of the buyer. If the 200-day SMA is scaled, it suggests that the BTC/USDT pair could have been recovered in the near future. The couple could collect up to USD 95,000, and then to a mentally crucial level of USD 100,000.
20-day EMA (USD 84,176) will probably act as mighty support during each withdrawal. A break and closing below 20-day EMA signals that bears will return to the game. The couple can then drop to $ 78,500.
Analysis of ether prices
Ether (ETH) remains down, but Bulls are trying to start the auxiliary rally, exceeding the price above 20-day EMA (USD 1659).
Recovery is expected to be dealing with sales in the zone from USD 1,754 to 50-day SMA (USD 1,846). If the price drops from the general zone, it increases the risk of a break below USD 1368.
On the contrary, the break and closing above the 50-day SMA removes the rally path to the level of USD 2111. Sellers are expected to defend the level with all their power, because the break above suggests that the ETH/USDT pair may have come out. The couple can then enhance to $ 2,600.
XRP price analysis
XRP (XRP) has increased above 20-day EMA (USD 2.09), which indicates that the bears weakened.
In the 50-day SMA there is resistance (USD 2.21), but if the level is exceeded, the XRP/USDT pair may march towards the resistance line. Sellers are expected to defeat the resistance line rapidly, because the rally above signals a potential change of trend.
The USD 2 level is a key support in the minus. A break and closing below USD 2 indicates that bears remain in the command. The steam may then drop to USD 1.72 and ultimately to USD 1.61.
BNB price analysis
BNB (BNB) broke out of the Down Trend on April 21, which indicates that Bulls are trying to take control.
Closing over the relegation line opens the door to the rally to USD 645. Sellers will try to stop the 645 USD traffic, but if the bulls do not give up a vast group, the BNB/USDT pair may enhance to 680 USD.
Bears lack time. If they want to come back, they will have to quickly draw a price below USD 566. Such a move indicates that the markets rejected the burst above the line. The couple could then spend some time in the triangle.
Solana price analysis
Solana (SOL) gradually climbs towards the resistance zone of 148 to 153 USD, which indicates that bears lose their grip.
Medium moving are on the edge of the completion of a stubborn crossover, and RSI is in a positive zone, which indicates that the path of the slightest resistance is additional. The SOL/USDT pair can collect up to USD 180 if the buyers pierce the upper zone.
Related: Bitcoin Longs reduced USD 106 million – whether Bitfinex BTC whales change bears above 86 thousand. USD?
On the contrary, if the price drops rapidly from the general zone, it suggests that bears sell at rallies. This can maintain a range of pairs from 153 to 120 USD for some time.
Dogecoin price analysis
Dogecoin (dog) is attached to the 20-day EMA (0.16 USD), which indicates that sales pressure is decreasing.
The flattening 20-day EMA and RSI near the middle point suggest a balance between supply and demand. The break and closure above 50-day SMA (0.17 USD) tilts the advantage in favor of bulls. The Doge/USDT pair can then collect up to 0.21 USD.
The level of 0.14 USD remains a key support, which should be considered in the minus. Sellers will have to jerk a price below 0.14 USD to signal the resumption of the inheritance. The steam may drop to USD 0.13, and later to 0.10 USD.
Cardano price analysis
Bulls try to keep Cardano (ADA) above 20-day EMA (0.63 USD), signaling the return.
The Ada/USDT pair may enhance to the 50-day SMA (0.69 USD), which is a key resistance in the miniature term. If the buyers throw away the price above the 50-day SMA, it suggests that the repair phase may end. The pair may enhance to USD 0.83, and then to USD 1.03.
If the price drops from the 50-day SMA, Bulls will try to stop withdrawing on an EMA 20-day. If this happens, it increases the possibility of growth above 50-day SMA. The advantage will tilt in favor of the Bear at a break below 0.58 USD.
Chain price analysis
Łączklink (link) closed above 20-day EMA (12.90 USD) on April 19 and reached 50-day SMA (USD 13.63).
Sellers will try to defend the 50-day SMA, but if the bulls overcome the barrier, the Link/USDT pair can arouse the shoot and gather towards the retaining line of the descending channel pattern. The level of USD 16 may act as an obstacle, but it will probably be exceeded.
The first support in the minus is 20-day EMA, followed by 11.68 USD. The break and closing below USD 11.68 suggests that bears remain under control. The couple can then break down to the support line, where the buyers are expected to enter.
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
