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BTC, ETH and XRP Price Analysis for April 16

Price Analysis
Sat, 04/16/2022 - 18:24
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Denys Serhiichuk
Which top coins can show the fastest bounceback?
BTC, ETH and XRP Price Analysis for April 16
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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Most of the coins have begun the weekend in the green zone, according to the CoinMarketCap ranking.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) is going up slightly since yesterday, rising by 0.61%.

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

Bitcoin (BTC) keeps trading around the zone of $40,000, accumulating power for a further move. However, bulls seem not to have accumulated enough energy yet based on the declining trading volume. In this case, the more likely scenario is ongoing sideways trading in the range of $39,500-$41,500 for the next week.

Bitcoin is trading at $40,405 at press time.

ETH/USD

Ethereum (ETH) has followed the rise of BTC, going up by 0.60% over the last day.

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

On the daily chart, Ethereum (ETH) is trading similar to Bitcoin (BTC). The volatility has fallen to the lowest level; however, the leading alcoin remains above the $3,000 mark. If nothing changes and bulls can hold this level, an upward move is possible to $3,200 until the end of the month.

Ethereum is trading at $3,041 at press time.

XRP/USD

XRP keeps going up after the recent sharp growth, going up by 0.88%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Despite the sharp growth, XRP could not fix above $0.80 so far. However, if the rate does not fall below $0.75, bulls might use this chance to accumulate power for a possible level breakout. If that happens, the rise may lead the price of XRP to the zone of $0.85-$0.90 soon.

XRP is trading at $.777 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.