Price analysis 4/7: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LEO

Bitcoin (BTC) has made a lively return and is negotiated near the level of $ 78,000. The largest cryptocurrency by market capitalization has dropped below the psychological support of $ 80,000 after the US stock market opened more on April 6. The sale continued on April 7, and Bitcoin reached a new hollow of the year at $ 74,508, but lower levels attracted solid purchases by bulls.

The downward macroeconomic image sent the FEAR & GREED index of American stock markets at only 4/100. Usually, such periods of sale of panic form a background because most of the weak hands and leverages capitulate. Once this happens, recovery is likely to be sharp.

However, it is a good strategy to remain cautious and not to get rid of the short -term professions because volatility can remain high. Even Michael Saylor’s business strategy, the biggest Bitcoin holder, listed in Bitcoin, blocked his Bitcoin purchases last week.

Could Bitcoin maintain the recovery, or will higher levels attract sellers? How are Altcoins positioned? Let’s analyze the graphics to discover it.

Price analysis of the S&P 500 index

The S&P 500 index (SPX) took place on April 7 for the third day of consecutive negotiation, indicating panic among traders.

The index plunged below 4,950 but found support near the Fibonacci trace level of 61.8% of 4,884. Buyers pushed the price to 5,246, but the upper levels attracted the sale, as shown in the long wick on the candlestick. If the price drops and breaks down below 4,835, the decline could extend to 4,700.

The relative resistance index (RSI) fell deep into the Surolon area, suggesting a short -term rescue rally. Buyers are expected to cope with significant resistance to 5,400, then the 20 -day exponential mobile average (5,558).

Price analysis of the US dollar index

The US dollar index (DXY) broke out below support 103.37 on April 3 and reached vital support at 101.

The solid rebound in support 101 shows that lower levels attract buyers. The sellers will try to stop the EMA rescue rally of 20 days (103.95). If the price drops from EMA by 20 days, the Bears will once again try to lower the price to 101.

Alternatively, a break and a closure above the 20-day EMA puts the large beach 101 to 108. The index could then reach the simple 50-day mobile average (105.62), which can act like a barrier.

Bitcoin price analysis

Bitcoin fell below $ 76,606 support on April 7, but the long tail on the candlestick shows a purchase nearly $ 73,777.

The positive divergence on the RSI suggests that the lowering momentum is weakening, but it is not a signal on which it is necessary to act without confirmation of Haussier price. A break and close above the resistance line could suggest that the corrective phase can be completed. The BTC / USDT pair could reach $ 89,000 and later at $ 95,000.

Instead, if the price turns away from the resistance line, it suggests that the ports remain on order. Sellers will try again to sink the pair below $ 73,777. If they manage to do so, the pair could collapse at $ 67,000.

Ether price analysis

ETHER (ETH) resumed its downward trend on April 6 after the price slipped below $ 1,754 support. The failure to trigger a rebound of $ 1,550 shows a lack of demand from the Bulls.

The sale attracted the RSI to the territory of occurrence, suggesting that a rescue rally could be at the corner of the street. If the price arises from the current level, the ETH / USDT pair could reach $ 1,754. If the price drops by $ 1,754, it indicates the sale of gatherings. This increases the probability of a drop to $ 1,350, then to $ 1,150.

Buyers will have to push and maintain the price above the 20-day EMA ($ 1,853) to suggest that the downward trend could end.

XRP price analysis

XRP (XRP) fell 20 -day EMA ($ 2.16) on April 6 and closed below $ 2 support, completing a head and shoulder model.

The sale continued on April 7, pulling the price below immediate support at $ 1.77. Buyers will try to start a recovery, but are likely to deal with a solid sale at $ 2. If the XRP / USDT pair takes place by $ 2, this will point out that the bears have overturned the level in resistance. This increases the possibility of a drop to $ 1.27.

The first sign of force will be a break and will close above the level of $ 2.20. This suggests that the markets have rejected the rupture.

BNB price analysis

BNB (BNB) fell sharply from the 20 -day EMA ($ 597) on April 6 and plunged below the Fibonacci retracement of 61.8% of $ 559.

The BNB / USDT pair has rebounded on the support of $ 520, but the recovery should face the sale on medium -sized moving. If the price drops from the current level or the 20 -day EMA, it increases the risk of decrease to $ 500 and next to $ 460.

Bulls will have to push and maintain the price above the downward trend line to report a return. The pair can reach $ 644, then at $ 686. This suggests that the pair can stay inside the wide range of $ 460 to $ 745 for a little more time.

Solana price analysis

Solana (soil) collapsed below the support area from $ 120 to $ 110 on April 6, indicating the recovery of the downward trend.

The floor / USDT pair has bounced $ 95, but above, the Bears should pose a strong challenge between the $ 110 and $ 120 zone. If the price drops sharply from the air area, the pair can fall to $ 80.

Time is exhausted for Bulls. If they want to make a comeback, they will have to quickly push the price above the 20-day EMA ($ 124). The pair can then go up to SMA of 50 days ($ 137).

In relation: Has the Bitcoin price dropped the bottom at $ 75,000? – the data suggest that the BTC decoupling to the actions will continue

Dogecoin price analysis

The failure of the Dogecoin pushing bulls (DOGE) above the 20-day EMA ($ 0.17) attracted another sales cycle on April 6.

The DOGE / USDT pair fell below the critical support of $ 0.14, but the long tail on the candlestick shows solid purchases at lower levels. Buyers should defend the level of $ 0.14 of all their might because if they did not do so, the pair could drop to $ 0.10.

The 20 -day EMA is the crucial resistance to watch up. A rupture and close above the 20-day EMA suggest that the bearish momentum is weakening. The pair can then climb to the 50 -day SMA ($ 0.19).

Cardano price analysis

Cardano (ADA) fell and broke below $ 0.58 support on April 6, indicating that bears remain in control.

The ADA / USDT pair dropped near the critical support at $ 0.50, where buyers intervened. It started a recovery, which should face the sale at $ 0.58 and again at EMA 20 days ($ 0.67). If the price decreases in mobile averages and breaks down below $ 0.50, it signals the start of the next step in the movement downwards down $ 0.40.

Buyers will have to drive and maintain the pair over the 50-day SMA ($ 0.73) to point out that bears lose their grip.

Analysis of UNUS Sed Leo Prices

Unus Sed Leo (Leo) fell 50 -day SMA ($ 9.63) on April 4 and closed under the ascending trend line of the upward triangle motif.

Who have invalidated the bullish configuration, which is a negative sign. The mobile averages began to refuse, and the RSI is near the territory of occurrence, indicating that the bears have the edge. There is a minor support at $ 8.84, but if the level cracks, the Leo / USD pair could increase to $ 8.30.

Buyers have a difficult task in front of them if they want to prevent the drawback. They will have to push the price above $ 9.90 to take control.

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.

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