Crypto Showdown: BTC, ETH, BNB, XRP, ADA, DOGE & More Battle for Price Supremacy
Blockchain News

Crypto Showdown: BTC, ETH, BNB, XRP, ADA, DOGE & More Battle for Price Supremacy

written by John Murphy | April 16, 2023

Recent news shows the trade of Ether and Bitcoin above $2,000 and $30,317. As a result, this is an indication of a Crypto Showdown.

It is too early to call some analysts for the beginning of the altseason. When Bitcoin drops drastically and takes a late arrival, most crypto bears become optimistic. This results in a sell-off in altcoins and causes unhappiness.

Key Takeaways:

  • Bitcoin and Ether are experiencing an upward trend, but it’s still too early to call the beginning of the altseason.
  • The crypto market stabilizes after eliminating the weak hands.
  • Bears try to return when the 20-day exponential moving average (EMA) splits.
  • Bulls push prices above significant levels, resulting in more purchases, and if they fail to defend, the pair may see a witness purchase stampede.
  • Cardano completed the reversal setup and escalated the head-and-shoulder neckline pattern, with the bulls turning the level resulting in the level-up of the targeted pattern.

The crypto market begins a sustained uptrend and stabilizes after eliminating the weak hands.

Joe Prays posted on Twitter that BTC followed ETH’s hit high at $31,000 and which cryptocurrency is next after this.

There are many similarities between the previous having cycle and the current one, according to the data from Glassnode, a chain intelligence platform. However, econometrics notify that the economic downturn may change things.

BTC Price Analysis:

On 12 April, the nears tried to move up, but the bulls didn’t surrender. Moreover, on 13 April, they continued their buying. On 14 April, they cleared the hurdles at $30,550.

However, the BTC/USDT recovers to $32,400 if the purchasers endure more than $30,550. The bears save this level with all their strength.

If the price does not break less than the 20-day exponential moving average (EMA) and lowers from this level to $28,542. Then the chance of recovering BTC/USDT increases. The pair may zoom toward $40,000 if this level is covered.

In contrast, bears try to return if the 20-day EMV split. That resulted in a possible fall of $25,250.

ETH Price Analysis

on 12 April, Ether deflected the EMA and lowered it to $1870. This shows that the pulls are protecting the level with all their strength.

ETH Price Analysis
Source: kryptomoney

On 13 April, Bulls pushed prices above a significant level of $ 2,000, and the purchase continued. This results in more purchases with ETH/USDT levels up to $2,200.

This is a crucial situation for bears; if they fail to defend, the pair may see the witness purchase stampede. The pair raised $3,000.

On the other hand, if the price drops from $2,200 and cracks to $2,000, then the pair drop to a 20-day EMA. If the pair cracks below this level, it becomes $1,680, so it is important to observe this level keenly.

Beverly posted on Twitter that cryptocurrency winter will end. BTC does buy and sell at $30,317 and $2,000.

BNB Price Analysis:

On 12 and 13 April, the bulls didn’t permit the BNB to submerge less than 20-day EMA, which is $317. This shows that traders purchase dips and positive sentiments.

The tide favors bulls because the relative strength index (RSI) rises above 60 and 20-day EMA.

By launching the price above the overhead range of $338 to $346, purchasers try to strengthen their position. If this happens, BNB/USDT recovers to $360 and later to $400.

On the contrary, if it drops, it increases bear activity at upper levels. That keeps the pair between $346 and 20-day EMA.

Bitcoin Updates made an announcement on Twitter regarding the price analysis of different cryptocurrencies, BTC, LTC, ETH, DOT, BNB, SOL, XRP, MATIC, AND ADA.

XRP Price Analysis:

Purchasers protect the pullback level of 38.2%Fibonacci of $o.49. This fascinates the purchase in XRP, resulting price between $0.56 to $0.58. The positive range of the RSI and level up of the 20-day EMA is $0.49 showing the slight edge of bulls.

If buyers increase the price to $0.58, XRP/USDT pair will increase to $ 0.65, then $o.80.

On the other hand, if it drops from the overhead range, the pair may range between $0.49 and %o.58. If the trend shows a lower price pull, then it favors bears.

Cardano Price Analysis:

Cardano Price Analysis
Source: currency

On 13 April, Cardano completed the reversal setup and escalated the head-and-shoulder neckline pattern.

Normally, the price falls after retesting the breakout level and cracking from the pattern. But ADA/USDT immerse to the neckline in this case. The bulls turn the level if the price bounces back.

This results in the level-up of the targeted pattern to $0.60. If it lowers to $ 0.37, then the pair jumps low to $o.30.

Dogecoin Price Analysis:

on 12 April, Dogecoin rebounded from the moving average. If bulls drive the DOGE/USDT pair over the pullback level of 38.2% Fibonacci to $0.09, the bears did not shift. This shows the selling of rallies and negative sentiments.

The selling pressure is reduced if the purchaser increases the price above $0.09. This shows the ascend in the pair to 61.8% and the lowers level to $0.10. if there is a 100% retracement, it increases the pair to $0.11.

Polygon Price Analysis:

On 12 April, the polygon fell below the symmetrical triangle pattern line. On 13 April, The Matic/USDT pair increased and cracked above the 20-day EMA ($1.11). This shows the short squeeze in bears. On 14 April pair reached the triangle resistance line.

If bulls reach a price more than a triangle, the rally price is $1.30. Also, if it reaches $ 1.6, it will cause hurdles. If the price falls below $1.08, it invalidates the positive view.

Solana Price Analysis:

Breaching the dropping line in Solana strengthens the bulls. This shows the higher demand. The overbought range of RSI and increasing 20-day EMA ($ 21.74) benefit purchasers.

The rise in the SOL/USDT to $27.12 results in strong defense for bears. If bulls overcome this hurdle, the pair will continue to go up toward $39.

On the other hand, the pair collapses to $ 15.28 if the bear sinks to trap the bull aggressively.

Polkadot Price Analysis:

On 12 April, candlestick highlighted the bull’s 20-day EMA ($ 6.32). On 13 April, bulls faced higher sales, and Polkadot continued to move toward the downtrend line.

From 61.8% Fibonacci of $6.8, DOT/USDT pair turn down. If not, then it may fall to a 20-day EMA.

On the other hand, if it increases from$ 6.85, it moves toward the inverse H&S pattern neckline.

Litecoin Price Analysis: 

On 13 April, Litecoin soared from 20-day EMA ($91). In April, the bulls moved away above the resistance price of $96.

The aggressive bulls are trapped if the bear pulls the price below the 20-day EMA. The LTC/USDT lowers to $85.

If the price increases from $96, it results in a rally to $106.