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BTC, ETH and XRP Price Analysis for April 29

Price Analysis
Fri, 04/29/2022 - 15:49
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Denys Serhiichuk
How great are the chances to see the reversal of the top coins soon?
BTC, ETH and XRP Price Analysis for April 29
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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Bears have seized the initiative, turning all top 10 coins into the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 2.72% over the last 24 hours.

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

Bitcoin (BTC) could not fix above the $40,000 mark, confirming bears' power. If the decline continues and the rate touches $38,000, the drop may lead the price of the first crypto to the zone around $36,000. Such a scenario is relevant until mid-May.

Bitcoin is trading at $38,924 at press time.

ETH/USD

Ethereum (ETH) has fallen the least from the list today. The decline has made up 2.52% since yesterday.

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

Analyzing the daliy chart, Ethereum (ETH) is looking more bearish than Bitcoin (BTC). The price is about to test the local blue level at $2,774.

Related
DOGE and SHIB Price Analysis for April 27

If the daily candle fixes below it, the main altcoin may face a sharp drop to the zone of $2,500-$2,600 soon.

Ethereum is trading at $2,852 at press time.

XRP/USD

XRP is the biggest loser today, going down by 3.32%.

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

Bears have continued their pressure since yesterday against the increased trading volume. At the moment, there are no signals for a market reversal, which means that there is a high possibility to see a further drop. If sellers break the $0.60 mark, the fall may continue to the nearest support at $0.54.

XRP is trading at $0.6196 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.