Price analysis 4/26: BTC, ETH, BNB, XRP, ADA, DOGE, DOT, UNI, LTC, BCH
April 26, 2021. Summarized by summa-bot.
Compression ratio: 16.9%. 2 min read.
Altcoins are notching double-digit gains as bulls push Bitcoin price back toward the $55,000 level.
If the price turns down from the 20-day EMA, it will indicate that the sentiment remains bearish and traders are selling on rallies.
Contrary to this assumption, if the bulls do not give up much ground from the 20-day EMA, it will suggest that traders continue to buy at higher levels.
However, if the price turns down from the overhead zone, the bears may again pull the price down to the 20-day EMA.
The bulls are attempting to start a relief rally today and have pushed the price above the 20-day EMA ($1. 20).
If the bulls sustain the price above the 20-day EMA, the XRP/USDT pair could gradually rise to $1. 46.
The bears attempted to sink Dogecoin (DOGE) below the 20-day EMA ($0. 22) on April 25 but failed, which suggests that the bulls are trying to defend this support.
If the price turns down from this resistance, the bears will try to pull the price down to the 20-day EMA.
However, if the price drops to the 20-day EMA, then the pair could remain range-bound for a few days.
The selling may intensify if the bears sink and sustain the price below the 20-day EMA.
If the price reverses direction from the 20-day EMA, the bears will try to sink the DOT/USDT pair below $26. 50.
If the price turns down from this resistance, the pair could again drop to the 20-day EMA and then to the 50-day SMA.
Bitcoin Cash (BCH) dipped and closed below the 20-day EMA ($797) on April 24 but the bears could not leverage this advantage and sink the price to the 50-day SMA ($647).
The bulls have pushed the price above the 20-day EMA and the downtrend line today.