BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, DOGE, LINK

The listing of CoIN on Nasdaq could eventually boost cryptocurrency adoption and attract masses of institutional investors. However, it is unlikely that this will happen immediately. Volatility can be high in the first few days after the IPO as Wall Street tries to value Coinbase. It could also increase the volatility of cryptocurrencies.

Strong fluctuations in the price of bitcoin (BTC) can also lead to the liquidation of leveraged positions in the futures market. A massive $27 billion in open bitcoin futures and $8 billion in Ether (ETH) futures suggests that a spike in volatility could wreak havoc on some traders’ lives.

Daily indicators for the crypto-currency market. Source : coin360

PlanB, the analyst behind the popular price action model for bitcoin, cited the monthly Relative Strength Index (RSI) indicator and explained that the current reading above 92 is high, but nowhere near the 95 levels seen during previous bull markets in 2017, 2013 and 2011.

PlanB estimates that the price of bitcoin should reach $92,000 by the end of April, bringing the RSI to 95.

Traders will be watching COIN’s price action closely, which is likely to determine short-term sentiment. Let’s look at the top 10 charts of cryptocurrencies to identify critical support and resistance levels.

BTC/USDT

Bitcoin broke through on the 13th. Upper resistance is holding from April at $61,825.84, indicating a resumption of the uptrend. The strong uptrend also broke out of the inverse head-and-shoulders pattern with a price target of $69,540.

Daily chartBTC/USDT. Source: TradingView

The rise in the 20-day exponential moving average ($58.713) and an RSI above 63 suggest that the bulls have taken over. However, the BTC/USDT pair is unlikely to go vertical.

Normally, after a critical level is passed, the price comes back and tries the level again. In this case, the pair can go as low as $60,000. If the bulls manage to turn this level into support, the pair could resume its upward trend.

On the contrary, if the bears go below the 20 EMA, this could surprise some aggressive bulls. This could strengthen the sell-off and the pair could even break the 50-day simple moving average ($55.241). Such a move will increase the likelihood of a deeper correction.

ETH/USDT

On the 13th. In April, ether broke through resistance at $2,200 and resumed its upward trend. The rising 20-day EMA ($2,040) and the RSI above 70 suggest that the path of least resistance is up.

Daily ChartETH/USDT. Source: TradingView

The bulls will now try to push the ETH/USDT pair towards the next target of $2,618.14.

Contrary to this assumption, if the pair falls from its current level, it could fall to the 20 EMA. If price bounces off this support, it would mean that the bulls are buying on the dips because they expect a new rally.

On the other hand, a break below the 20-day EMA would mean traders would rush to take profits. This could push the price towards the trend line.

MLRD. BARR.

Binance Coin (BNB) is currently in a correction phase after a strong uptrend that saw the price rise from $233.81 on March 26 to $638.56 on March 12. April, a 173% rally in a short period. The first solid support on the downside is the 38.2% Fibonacci retracement level at $483.95.

Daily chart NBB/USDT. Source: TradingView

If price jumps to $483.95, it would mean that sentiment remains positive and the bulls are betting on the downtrend. Buyers will try to resume the uptrend by pushing the price above $638.56. If successful, the NBB/USDT pair could begin its journey to $888.70.

Today’s doji candlestick suggests indecision between the bulls and the bears. If this uncertainty dissipates to the downside and the bears move below $483.85, the pair could drop to the 20-day EMA ($417), which would likely serve as strong support.

XRP/USDT

XRP’s strong uptrend continued on the 13th. April continued its breakout above $1.50 and reached an intraday high of $1.96 today. However, the price has fallen sharply, suggesting that the bears are aggressively defending the psychological $2 level.

Daily chart XRP/USDT. Source: TradingView

The first downside support is the 38.2% Fibonacci retracement level at $1.43. A strong rebound from this support would indicate that sentiment remains bullish and traders are buying on dips. The bulls will once again try to continue the upward movement and push the price above $1.96 per ounce.

On the other hand, a break below $1.43 could bring the price back to the EMA 20 ($1.05). Such a deep drop suggests that traders are rushing to sell their positions, which could delay the next phase of the rally.

ADA/USDT

Cardano (ADA) today broke overall resistance at $1.48 and climbed to an intraday high of $1.55. However, the bulls were unable to sustain the outbreak, as evidenced by the long wick of the candle.

Daily chartADA/USDT. Source: TradingView

The bears have reduced the price to a range of $1.48 to $1.03. They will now try to push the ADA/USDT pair down to the 20-day EMA ($1.24).

If the price bounces off the 20 EMA, the bulls could make another attempt to push the pair above the upper resistance at $1.55. If they succeed, the pair could reach $2.

On the contrary, if the bears push the price below the moving averages, a drop to $1.03 is possible.

POINT/DATE

Operation Narrow Range (DOT) at the Polka Dot was halted on the 13th. April up, with bulls pushing the price above the $42.28 resistance level. Today, however, the price has fallen back below $42.28, indicating a sell-off to higher levels.

DOT/USDT Daily Chart. Source: TradingView

If the bears bring the price back below the 20-day EMA ($39.78), then selling could intensify and DOT/USDT could drop to $32.50.

On the contrary, if the price of the 20-day EMA bounces off, the bulls will once again try to break through the upper boundary at $46.80. If successful, the pair could enter the next leg of the uptrend, which could lead to $53.50 and then $57.

UNI/USDT

Uniswap (UNI) reached the end of the year on the 12th. April reached a new high, but the bulls are struggling to keep that momentum going. Altgoin was formed on the 13th. April an intraday candlestick pattern and extended its correction until today.

daily chart UNI/USDT. Source: TradingView

If the price breaks out of the current level and rises above $38.16, the UNI/USDT pair could begin the next phase of the uptrend. The first upside target is at $43.43 and if this resistance is broken, the pair could head towards the psychological $50 level.

In contrast, the pair could lose momentum if the bears fall below $33, as the bulls, who have followed the breakout since day 12, could continue their upward momentum. April may be rushing to get out the door. This could push the price towards the 20-day EMA ($31) and keep the pair in a range for a few more days.

LTC/USDT

Litecoin (LTC) was on the 11th and 12th. April broke through the breakout level at $246.96 as support. This led to a resumption of buying, and the altcoin continued its upward trend on the 13th. April continues. The next target to keep an eye on is $307.42.

Daily chartLTC/USDT. Source: TradingView

The 20-day EMA ($227) has risen and the RSI is close to overbought territory, suggesting that the bulls are in control.

Still, today’s long-legged doji candlestick pattern shows the indecision of the bulls and bears. If the price drops below $255, the LTC/USDT pair could fall back to the $239-$246.96 support zone.

A strong bounce from this area would indicate that the bulls are betting on the downtrend, while a break below it could move price towards the 20-day EMA.

DOJ/DT

Dogecoin (DOGE) broke on the 13th. April above the hard upper resistance at $0.087, indicating a resumption of the uptrend. The breakout was followed by more buying today, which pushed the price to an all-time high of $0.145.

DOGE/USDT Daily Chart. Source: TradingView

The strong rally of the past few days has pushed the RSI above 85, suggesting that the rally is overheating in the short term. The bears may try to stop the move to $0.15. If successful, the DOGE/USDT pair could enter a minor correction or consolidation.

The first downside support is the 38.2% Fibonacci retracement level at $0.112. A rebound on this support would be a sign of strength. The bulls will once again attempt to resume the uptrend. If they manage to push the price above $0.145, the pair could reach $0.20.

On the other hand, a break below $0.112 could lead to a drop to the breakout level at $0.087.

COMMUNICATION/USDT

The bulls pushed Chainlink (LINK) above broad resistance at $36.93 today, indicating a resumption of the uptrend. If the bulls can keep the price above $36.93, the altcoin could continue its advance towards $50.

Daily chartLINK/USDT. Source: TradingView

The 20-day EMA ($32) is up and the RSI is above 65, suggesting the bulls are back in charge.

However, if the bulls fail to keep the price above the $36.93 level, it will mean aggressive selling by the bears at higher levels. This could lead to a drop to the 20-day EMA. A strong recovery from this level would indicate that sentiment remains positive.

Conversely, if the bears allow the LINK/USDT pair to fall below the 20 EMA, it would indicate that the current breakout was an upside fall.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Cointelegraph. Every investment and every stage of trading involves risk. You should do your own research before making a decision.

Market data is provided by the HitBTC exchange.

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