Currently, Bitcoin (BTC) has surpassed $85,000, indicating an attempt by bulls to establish a new support level around $83,000. However, its short-term price fluctuations are influenced significantly by recent or upcoming news about US tariffs and the ongoing trade dispute with China.
During this period of widespread economic uncertainty, gold has been consistently outperforming. According to the Bank of America (BoA), gold investment funds are projected to reach approximately $80 billion in net inflows by the end of the year, which is nearly double the amount from 2020. On the other hand, Bitcoin-related exchange-traded funds have seen a decrease in net inflows, with only $165 million invested after a series of outflows, as reported by CoinShares.
As an analyst, I find myself intrigued by the current surge in gold prices, as some cryptocurrency investors view it optimistically. This is because a widely held theory posits that Bitcoin not only mirrors but surpasses gold’s rally, with a delay of several months. In a recent post on platform X, the anonymous crypto trader known as Titan of Crypto predicted that Bitcoin could reach an astounding $137,000 by July-August 2025.
Might Bitcoin’s supporters generate enough energy to drive the value beyond the current resistance level? Could alternative cryptocurrencies experience a brief surge as well? Let’s study the graphs of the leading ten digital currencies to determine the answer.
Bitcoin price analysis
On April 15, Bitcoin didn’t manage to surpass its 200-day simple moving average ($87,660), but a small advantage is that buyers have kept the value over its 20-day exponential moving average ($83,289). In simpler terms, Bitcoin struggled to go beyond its long-term average price on the 15th of April, but it’s encouraging that buyers have maintained a level above its short-term average price.
In simpler terms, the price’s 20-day moving average is somewhat flat, and the Relative Strength Index (RSI) is around its midpoint, indicating that sellers may be losing their hold on the market. For buyers to regain control, they need to push the price above the 200-day Simple Moving Average (SMA). If they succeed, the Bitcoin price could potentially rise to $95,000 and eventually hit the significant psychological level of $100,000 US Dollars against Tether.
Instead of pushing higher, falling beneath and closing below the 20-day Exponential Moving Average suggests that the bullish momentum has weakened. This might lead the pair to drop towards $78,500 initially, with potential further declines to around $73,777 in the future.
Ether price analysis
As I, a researcher, observed on April 14, Ether’s (ETH) upward momentum seemed to pause at its 20-day Exponential Moving Average (EMA), which was situated around $1,697. This indicates that bears might still be active in the higher price ranges, maintaining control over the market dynamics.
Sellers may attempt to gain an advantage by lowering the price of ETH/USDT below $1,471. If this happens, the price could drop to around $1,368. However, buyers will aim to maintain the price above $1,368. If the sellers succeed and dominate the market, the price could potentially fall even further to about $1,150.
Initially breaking and surpassing $1,754 could mark a strong shift, potentially leading to an upward movement towards $2,111. However, the 50-day Simple Moving Average at $1,919 might offer resistance initially. Yet, it’s likely this level will be surpassed in the long run. For the downtrend to be considered over, investors must push the price beyond $2,111.
XRP price analysis
On April 15, XRP (XRP) dropped beneath its 20-day Exponential Moving Average (EMA), which was around $2.10, and by April 16, it approached a significant support level close to $2.
In simple terms, the moderately low 20-day Exponential Moving Average (EMA) and the Relative Strength Index (RSI) slightly below its midpoint hint at potential price consolidation in the short term. The XRP/USDT pair might oscillate between around $2 and the 50-day Simple Moving Average ($2.23) over an extended period.
If we see a pause and rise surpassing the 50-day Simple Moving Average (SMA), it might pave the way for an upward momentum towards the resistance point. This critical level is crucial for bears to protect, as a breach above it would indicate a short-term reversal in trend. Conversely, if there’s a fall and close below $2, it could lead the pair down to $1.61.
BNB price analysis
In simpler terms, BNB’s recent trades have been occurring within a triangle pattern. This suggests that it might be a good time to buy when the price approaches the lower boundary of this range (the support line), while sell-offs could happen as the price nears the upper boundary (the downtrend line).
With declining moving averages and RSI slightly favoring the bears, there’s a slight advantage for them in this market. The support levels at $566 and then $550 may offer some resistance to further drops. If the price bounces back from these supports, the bulls might attempt to push the price above the current downtrend. If they succeed, the BNB/USDT pair could potentially surge towards $644.
It’s quite possible that sellers might be occupied with other matters. They may attempt to push the price down towards $550, hoping to test the resistance level again.
Solana price analysis
In the cryptocurrency market, sellers have managed to maintain Solana’s (SOL) price above the 50-day Simple Moving Average of $130. Currently, they are attempting to push the price downwards towards the $120 support level.
Based on the relatively flat 20-day Exponential Moving Average at around $124 and the RSI (Relative Strength Index) hovering near the middle, it seems there’s a balance between the supply and demand forces. Market participants are expected to protect the $120 to $110 range as a potential support zone. If the price recovers from this support zone, the bulls may try once more to push the SOL/USDT pair over the 50-day Simple Moving Average. If they manage that, the pair could potentially reach $153.
If the price keeps falling and dips below $110, this suggests that the bulls have lost control and the bears are still dominant. In such a case, the pair might drop down towards the $95 support level.
Dogecoin price analysis
Over time, Dogecoin (DOGE) has been moving downwards towards the crucial support level of $0.14, a point at which traders believe buyers will become active again.
The increase in positivity shown by the RSI indicates that the negative trend might be losing its strength. If the price rises from its current level at $0.14, it becomes more likely for it to surpass the 50-day moving average ($0.17). Once the Dogecoin (DOGE) price exceeds $0.21 against Tether (USDT), it will suggest that the downward trend might have ended, completing a double-bottom pattern.
Instead, if price falls and dips below $0.14, it suggests the continuation of the downward trend towards the next significant support at $0.10.
Cardano price analysis
On April 13, Cardano (ADA) failed to break above the 20-day Exponential Moving Average ($0.64), suggesting that selling pressure from the bears remains strong as they capitalize on any price increases.
sellers intend to boost their standing by lowering the price towards the strong resistance of $0.58. If they manage to achieve this, the ADA/USDT pair may dip to a crucial point at $0.50. Buyers are anticipated to put up a firm fight to guard this level, as failing to do so might prolong the downtrend to $0.40.
On the positive side, potential sellers might find themselves trading within the range defined by the moving averages. If the price breaks and closes above the 50-day Simple Moving Average (currently at $0.70), it could pave the way for an upward trend towards approximately $0.83.
UNUS SED LEO price analysis
Buyers have pushed UNUS SED LEO (LEO) above the 20-day EMA ($9.39), which is a positive sign.
As I analyze the LEO/USD pair’s performance, I notice a slight hurdle at the 50-day Simple Moving Average (currently at $9.58). However, I anticipate this level will be surpassed. If that happens, the pair might challenge the crucial resistance at $9.90 again. Should buyers successfully breach the $9.90 barrier, an ascending triangle pattern would be completed. This could initiate a potential push toward the target objective of $12.04.
As an analyst, I’m suggesting that to take control of the situation, sellers need to strategically keep and manage the price lower than $9.24. This action might initiate a downward trend, potentially leading to a drop in price to around $8.79.
Chainlink price analysis
Despite efforts, buyers find it difficult to push Chainlink’s price beyond its 20-day Exponential Moving Average ($12.81). However, they continue exerting force.
At approximately $11.68, there’s a modest resistance point, but if it breaks, the LINK/USDT pair might significantly decrease, potentially reaching the lower boundary of its descending channel pattern. Purchasers are planning to safeguard this level, but should bears take control, the pair may tumble down to around $8.
To regain momentum, buyers should aim to push the price beyond their moving averages. This move might propel the pair upwards towards $16 initially, followed by a test against the resistance level. If the price breaks through and conclusively closes above the channel, it could indicate a possible shift in trend direction.
Avalanche price analysis
If Avalanche (AVAX) didn’t manage to break its downward trend, it might have triggered selling from investors who had hoped for a quick profit in the short term.
The bears aim to push down the AVAX/USDT combination below its 20-day Exponential Moving Average ($18.98). If successful, the pair might drop towards the support at $15.27. However, buyers are likely to put up a strong fight at this level, as a fall beneath it could initiate another phase of decline, potentially taking the pair to $14 and then $12.
Initially breaking and surpassing the falling trendline could indicate a strong upward movement towards approximately $23.50. If investors successfully push the price above this level, it would suggest the formation of a double bottom pattern. In such a scenario, the potential target for the price increase would be around $31.73.
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2025-04-16 21:02