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BTC, ETH and XRP Price Analysis for April 18

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Mon, 18/04/2022 - 15:56
BTC, ETH and XRP Price Analysis for April 18
Cover image via www.tradingview.com

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Monday has begun with the fall of the cryptocurrency market as all of the top 10 coins are in the red zone.

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Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has fallen the least today, going down by 4.28% over the last 24 hours.

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

Bitcoin (BTC) has dropped below $40,000, having confined the local bearish trend. The price decreased has been accompanied by increased selling volume, which means that there is a high chance to see a further downward move. In this case, there is a chance to see the test of the $38,000 mark soon.

Bitcoin is trading at $39,378 at press time.

ETH/USD

Ethereum (ETH) is following the decline of BTC, declining by 6.79% since yesterday.

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

Ethereum (ETH) has also dropped the psychological mark of $3,000 on the daily chart. At the moment, one needs to pay close attention to the nearest support level at $2,774. If buyers can hold, one can expect a bounceback to $3,000-$3,200. In another case, the breakout may lead to the rate of $2,300 per ETH.

Ethereum is trading at $2,925 at press time.

XRP/USD

XRP is the biggest loser from the list, falling by almost 7%.

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

After a failed attempt to get to the $0.80 mark, XRP has continued its fall. At the moment, the price is located close to the support level at $0.6959, which means that bears are more powerful than bulls. In this regard, the more likely scenario is the test of the support levels shortly.

XRP is trading at $0.7450 at press time.

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