BTC, ETH and XRP Price Analysis for April 7

Price Predictions
Wed, 04/07/2021 - 14:55
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Denys Serhiichuk
How good are Ethereum (ETH) and XRP's chances to keep rising faster than Bitcoin (BTC)?
BTC, ETH and XRP Price Analysis for April 7
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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The market has faced a correction as the majority of coins are located in the red zone. Uniswap (UNI) is the top loser, falling by 10% since yesterday.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The crucial data for Bitcoin (BTC), Ethereum (ETH) and XRP today:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,061,266,826,262 $56,822.38 $73,473,415,308 -3%

Ethereum

ETH

$231,377,451,673 $2,004.86 $31,047,262,107 -5.32%

XRP

XRP

$43,183,068,468 $0.963 $28,632,835,572 -4.20%

BTC/USD

The rate of Bitcoin (BTC) has declined much less than other coins. The decline is 3%.

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

On the 4H time frame, Bitcoin (BTC) has the chance to restest the level of $57,800 where most of the liquidity is focused.

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BTC, XRP and DOT Price Analysis for April 6

However, such local growth should be considered a correction after a sharp decline but not the start of a possible long-term rise.

Bitcoin is trading at $56,700 at press time.

ETH/USD

Ethereum (ETH) is the top loser today as the rate of the chief altcoin has gone down by 5% over the last 24 hours.

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

From the technical point of view, Ethereum (ETH) is following the price action of Bitcoin (BTC), and one can also expect a bounceback to the local resistance level around $2,060. If bulls manage to fix there, the next target is the area of $2,110 where most of the liquidity is concentrated.

Ethereum is trading at $2,006 at press time.

XRP/USD

The price of XRP has not lost much compared to Ethereum (ETH). The drop is by 4.20%.

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

XRP also looks bullish in the short-term view. Even though it is too early to think about new peaks, bulls have the chance to retest the level of $1.029 within the next few days.

XRP is trading at $0.9542 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 & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

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