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BTC, ETH, XRP, ADA, BNB and DOT Price Analysis for April 18

Price Predictions
Sun, 04/18/2021 - 15:19
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Denys Serhiichuk
Which coins can recover after a dump?
BTC, ETH, XRP, ADA, BNB and DOT Price Analysis for April 18
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 cryptocurrency market has just faced one of the biggest dumps in recent memory. Almost all of the top 10 coins are in the red zone, except for DOGE, whose rate has gone up by 12%.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The vital data for Bitcoin (BTC), Ethereum (ETH), XRP, Cardano (ADA), Binance Coin (BNB) and Polkadot (DOT).

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,026,942,585,921

$54,954.97

$93,526,653,073

-10%

Ethereum

ETH

$243,429,141,965

$2,110.96

$48,320,016,571

-12.60%

XRP

XRP

$58,836,435,806

$1.30

$19,602,755,229

-19.11%

Binance Coin

BNB

$69,212,905,238

$453.37

$6,267,948,386

-13.04%

Cardano

ADA

$38,297,458,959

$1.20

$6,666,505,990

-14.27%

Polkadot

DOT

$33,530,721,744

$36.13

$6,105,136,712

-19.30%

BTC/USD

 

Bitcoin (BTC) has suffered the smallest setback today as the rate of the chief crypto has gone down by “only” 10%.

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

 

From the technical point of view, the dump can be considered a correction to gain more liquidity before continued growth.

Related
BTC, ETH, LINK and ADA Price Analysis for April 17

In this case, the closest resistance is around $59,700, which can be attained shortly.

Bitcoin is trading at $55,400 at press time.

ETH/USD

The rate of Ethereum (ETH) has gone down deeper, with the drop making up 12.60%.

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

 

Ethereum (ETH) can also make a retest of the former mirror level at $2,312. However, it is too early to consider the revival of the long-term bullish trend as bears are still powerful.

Ethereum is trading at $2,116 at press time.

XRP/USD

XRP is not an exception to the rule, and its drop is 19%.

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

Before further movement, XRP might first test the resistance around $1.40. At the moment, volatility remains high, and neither bulls nor bears are controlling the situation on the market.

XRP is trading at $2,116 at press time.

ADA/USD

Cardano (ADA) has also gone down, showing a price change of -14%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano (ADA) has bounced off the MA 50 on the daily chart, which means that there is a good chance that the drop was just a correction and not the start of a bearish trend. In this regard, ADA may return to the first vital level of $1.344 soon.

ADA is trading at $1.20 at press time.

BNB/USD

The rate of Binance’s native exchange token has decreased by 13% over the past 24 hours.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Like other coins, Binance Coin (BNB) may get to the mirror level at $492 where bears might again seize the initiative. At the moment, sideways trading is the more likely scenario in the upcoming days.

BNB is trading at $455 at press time.

DOT/USD

Polkadot (DOT) is the main loser today as the rate of the altcoin has decreased by almost 20%.

DOT/USD chart by TradingView
DOT/USD chart by TradingView

Despite a sharp decline, there are chances of seeing a correction to the area around $40. To keep the bullish trend going, DOT needs to accumulate some power trading sideways.

DOT is trading at $36.37 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.