Quick Facts

This article provides a technical analysis of prominent assets in the market, including Bitcoin, Ether, XRP, BNB, Solana, Dogecoin, Cardano, and UNUS SED LEO.

Price Analysis

S&P 500 (SPX) Price Analysis

The S&P 500 Index (SPX) has been experiencing a significant downturn, with a gap down on April 7 marking a third consecutive trading day of declines. This panic selling has pushed the index below the 61.8% Fibonacci retracement level of 4,884. While the RSI has dropped into the oversold territory, indicating a possible relief rally, buyers will likely face significant resistance at 5,400 and the 20-day exponential moving average (5,558).

US Dollar Index (DXY) Price Analysis

The US Dollar Index (DXY) has broken below the 103.37 support, a crucial level that could potentially trigger a further decline. However, the strong rebound off the 101 support suggests that lower levels are attracting buyers. With the RSI in the oversold territory, a relief rally could be on the horizon. Sellers will try to halt the rally at the 20-day EMA (103.95). A break above this level could see the index rise to the 50-day simple moving average (105.62).

Bitcoin (BTC) Price Analysis

Bitcoin’s sharp comeback has seen it trading near the $78,000 level, with a bounce off the $74,508 low. However, this rally may be short-lived, as the Fear & Greed Index is still in the bearish territory. The index remains at 4/100, indicating a significant flight to safety. The RSI is showing a positive divergence, but a bullish confirmation is needed to confirm this trend. If the price turns down from the current level, it may drop to $73,777, with a further fall to $67,000 possible if this level is broken.

Ether (ETH) Price Analysis

Ether’s failure to bounce off the $1,754 support suggests a lack of demand from buyers. The RSI has dropped into the oversold territory, indicating a possible relief rally. Sellers will try to halt this rally at $1,754, with a further sell-off to $1,550 possible if this level is broken. On the flip side, a break above $1,754 could see the ETH/USDT pair rise to $1,850.

XRP (XRP) Price Analysis

XRP’s sharp decline has pushed the price below the 20-day EMA ($2.16), completing a head-and-shoulders pattern. This breakdown indicates a strong bearish momentum, with the price likely to fall to $1.77. Buyers will need to push and maintain the price above this level to signal a comeback.

BNB (BNB) Price Analysis

BNB’s failure to bounce off the 20-day EMA ($597) has pushed the price below the 61.8% Fibonacci retracement level of $559. This breakdown indicates a strong bearish momentum, with the price likely to fall to $520. Buyers will need to push and maintain the price above this level to signal a comeback.

Solana (SOL) Price Analysis

Solana’s collapse below the $120 to $110 support zone has resumed the downtrend. The price has dipped below the critical $0.14 support, but the long tail on the candlestick shows solid buying at lower levels. Buyers will need to push and maintain the price above the 20-day EMA ($0.17) to signal a comeback.

Dogecoin (DOGE) Price Analysis

Dogecoin’s failure to bounce off the $0.17 support has pushed the price below the critical $0.14 level. This breakdown indicates a strong bearish momentum, with the price likely to fall to $0.10. Buyers will need to push and maintain the price above this level to signal a comeback.

Cardano (ADA) Price Analysis

Cardano’s collapse below the $0.58 support has resumed the downtrend. The price has dropped near the critical $0.50 support, where buyers have stepped in. However, this level has been unable to hold, and the price is now likely to fall to $0.40. Buyers will need to push and maintain the price above the 50-day SMA ($0.73) to signal a comeback.

UNUS SED LEO (LEO) Price Analysis

UNUS SED LEO’s turn down from the 50-day SMA ($9.63) has invalidated the bullish set-up, a negative sign. The moving averages have started to turn down, and the RSI is near the oversold territory, signaling that the bears have the edge. There is minor support at $8.84, but if this level cracks, the LEO/USD pair could plummet to $8.30. Buyers will need to push the price above $9.90 to seize control.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making a decision.