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BTC, ETH and SOL Price Analysis for April 1

Price Analysis
Fri, 04/01/2022 - 16:07
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Denys Serhiichuk
Can the cryptocurrency market rise again after today's drop?
BTC, ETH and SOL Price Analysis for April 1
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Sellers are back in the game as all of the top 10 coins are under bearish influence.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has started April with a 4% fall over the last 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Despite the decline, the price has bounced off the support level at $44,776 and is currently trading above it. Thus, the selling volume is going down, which means that bears are not powerful enough to continue the drop. If buyers can hold the rate above $45,000 until the end of the day, the rise can lead BTC back to $46,000 by the end of the week.

Bitcoin is trading at $45,182 at press time.

ETH/USD

Ethereum (ETH) has followed the decline of Bitcoin (BTC), going down by 3.37% since yesterday.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) is looking worse than Bitcoin (BTC), as the rate of the main altcoin could not come back to the bullish zone so far. However, if the daily candle fixes above $3,300, the rise may continue to the area of $3,500 until mid-April.

Ethereum is trading at $3,286 at press time.

SOL/USD

Solana (SOL) has lost the least from the list with a decline of 1.95%.

SOL/USD chart by TradingView
SOL/USD chart by TradingView

Solana (SOL) is closely approaching the resistance at $130 against increased high buying trading volume. If they can break this level and fix above it, it may be a prerequisite for sharp growth to the next important level at $140 within the next few days.

SOL is trading at $124.3 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.