Main navigation

BTC, ETH, XRP, BNB and ADA Price Analysis for April 12

Price Predictions
Mon, 04/12/2021 - 16:06
article image
Denys Serhiichuk
Which cryptocurrencies can repeat the sharp rise of Bitcoin (BTC) and XRP?
BTC, ETH, XRP, BNB and ADA Price Analysis for April 12
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.

Read U.TODAY on
Google News

Monday has started with an ongoing bullish trend on the cryptocurrency market. Most of the top 10 coins are in the green zone, except for Litecoin (LTC) whose rate has gone down by 0.5%.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The vital information for Bitcoin (BTC), Ethereum (ETH), XRP, Binance Coin (BNB) and Cardano (ADA):

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,125,325,243,653 $60,309.32 $50,569,124,406 1.72%

Ethereum

ETH

$247,820,636,529 $2,152.49 $20,776,364,520 0.98%

XRP

XRP

$62,851,067,493 $1.38 $14,284,828,861 4.33%

Binance Coin

BNB

$90,150,265,512 $578.07 $13,515,177,453 22.72%

Cardano

ADA

$41,366,481,574 $1.29 $4,879,973,977 4.10%

BTC/USD

On Saturday morning, buyers formed a strong bullish momentum that broke through the $60,000 resistance and set the April high at $61,222. Buyers tried to gain a foothold above the key level of $60,000 but, in the afternoon, the bears pushed the price below $59,000 and tested the two-hour EMA55.

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

Today, Bitcoin (BTC) is trading above the $60,000 mark. If the volume of purchases manages to increase, then the bulls will continue to rise above the April high and try to renew the absolute record set at around $61,700.

On the other hand, bears may resume large sell-offs and pull the pair back to the support area of $​​57,000.

Bitcoin is trading at $60,080 at press time.

ETH/USD

The Ethereum (ETH) price over the weekend renewed its absolute maximum around $2,200 and settled in a narrow sideways range above the level of the two-hour moving average EMA55.

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

By the beginning of this week, trading volumes have decreased and buyers' efforts to continue to rise to a new high are limited by resistance at $2,160. If this resistance is broken, then a new all-time record will be located in the area of ​​$2,250. Otherwise, sellers will try to pull back the Ether price, but one hopes that the support of the upward trendline will stop the decline.

Ethereum is trading at $2,133 at press time.

XRP/USD

Last weekend, the XRP price continued its bullish dynamics and broke through the resistance of $1.20. The growth continued until bulls were able to set an annual high around the $1.50 mark.

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

Since the beginning of April, XRP has seen growth of over 170%. The asset returned to the CoinMarketCap's top five rating in terms of capitalization and now occupies the fourth line on this list. By the beginning of this week, the XRP/USD pair rolled back to the $1.30 area and, if the selling pressure increases, the price might return to the level of $1.20. Support at this level may provide continued growth to the $1.60 area.

XRP is trading at $1.353 at press time.

BNB/USD

Binance Coin (BNB) is the biggest gainer today. The rate of the native exchange token has rocketed by more than 20% over the last day.

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

On the daily chart, Binance Coin (BNB) is already oversold, which means that a slight correction may happen soon. In this case, one might expect a decline to the nearest level around $536 shortly.

Binance Coin is trading at $575 at press time.

ADA/USD

Cardano (ADA) is not an exception to the rule as the rate of the altcoin has gone up by 4%.

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

Cardano (ADA) may have accumulated enough power to continue the growth as the trading volume is slightly increasing. All in all, the nearest target is located around the mark of $1.46.

Cardano is trading at $1.28 at press time.

 
article image
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.