April 2 Cryptocurrency Market Review: In-Depth Analysis of Bitcoin, Ethereum, Ripple, Binance Coin, Solana, Dogecoin, Cardano, Telegram Open Network, Chainlink, and LeoToken
Table of Contents
Quick Facts
Price Analysis 4/2: A Closer Look at the Top 10 Cryptocurrencies
The world of cryptocurrency is always in motion, with prices fluctuating wildly in a matter of minutes. In this article, we’ll take a closer look at the top 10 cryptocurrencies by market capitalization and analyze their price movements over the past week.
Bitcoin (BTC) and the Bulls
Bitcoin, the largest cryptocurrency by market capitalization, has been making waves in the cryptocurrency space. The bulls have been pushing the price of BTC above the $87,000 level, even as US trade tariffs are set to kick in on April 2. Analysts are bullish on BTC, with Fidelity’s Zack Wainwright predicting that the cryptocurrency could reach $110,000 if history repeats itself.
Ethereum (ETH) and the Potential for a Rebound
Ethereum, the second-largest cryptocurrency by market capitalization, has been in a downward trend over the past few days. However, the $1,754 support level has held strong, and the bears are starting to lose their grip. A break above the 20-day EMA ($1,965) could signal a potential rebound, with the next target being the breakdown level of $2,111.
XRP and the Bears
XRP, the third-largest cryptocurrency by market capitalization, has been struggling to gain traction. The bears are in control, and a break below the $2 support level could signal a deeper decline. The 50% Fibonacci retracement level of $1.52 could act as a barrier, but it’s likely to be broken.
BNB and the Sellers
Binance Coin, the native cryptocurrency of the Binance exchange, has been in a downward trend over the past few days. The sellers are in control, and a break below the 20-day EMA ($588) could signal a deeper decline. The 50-day SMA ($590) is likely to act as a barrier, but it’s at risk of being broken.
Solana (SOL) and the Bulls
Solana, a relatively new cryptocurrency, has been gaining traction over the past few days. The bulls are in control, and a break above the 20-day EMA ($132) could signal a potential rebound. The 50-day SMA ($145) is the next target, and a break above this level could signal a deeper climb.
Dogecoin (DOGE) and the Bears
Dogecoin, a popular meme cryptocurrency, has been struggling to gain traction over the past few days. The bears are in control, and a break below the $0.16 support level could signal a deeper decline. The 50-day SMA ($0.15) is likely to act as a barrier, but it’s at risk of being broken.
Cardano (ADA) and the Buyers
Cardano, a proof-of-stake cryptocurrency, has been gaining traction over the past few days. The buyers are in control, and a break above the 20-day EMA ($0.70) could signal a potential rebound. The 50-day SMA ($0.75) is the next target, and a break above this level could signal a deeper climb.
Toncoin (TON) and the Sellers
Toncoin, a relatively new cryptocurrency, has been struggling to gain traction over the past few days. The sellers are in control, and a break below the $4.14 support level could signal a deeper decline. The 50-day SMA ($3.48) is likely to act as a barrier, but it’s at risk of being broken.
Chainlink (LINK) and the Trading Range
Chainlink, a decentralized oracle platform, has been stuck in a trading range over the past few days. The buyers and sellers are cancelling each other out, and a break above the 20-day EMA ($14.32) could signal a potential rebound. The resistance level of $15.47 is the next target, and a break above this level could signal a deeper climb.
UNUS SED LEO (LEO) and the Bears
UNUS SED LEO, a cryptocurrency focused on gaming and entertainment, has been struggling to gain traction over the past few days. The bears are in control, and a break below the $9.90 support level could signal a deeper decline. The 20-day EMA ($9.60) is likely to act as a barrier, but it’s at risk of being broken.
