BTC, XRP and BNB Price Analysis for April 8

Price Predictions
Thu, 04/08/2021 - 16:07
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Denys Serhiichuk
Can Bitcoin (BTC) follow Binance Coin (BNB) and set a new peak soon?
BTC, XRP and BNB Price Analysis for April 8
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 turned green and all of the top 10 coins are bullish again.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The vital data for Bitcoin (BTC), Binance Coin (BNB) and XRP:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,061,928,939,076 $57,527.25 $63,111,552,192 1.43%

Binance Coin

BNB

$62,225,495,182 $410.43 $4,737,235,324 6.56%

XRP

XRP

$43,540,172,537 $0.9592 $14,578,053,978 1.19%

BTC/USD

Buyers tried to recover the price yesterday morning but could not overcome the two-hour EMA55. Sellers increased their volumes from the level of average prices and, by the end of the day, the pair's decline reached $55,440.

Related
BTC, ETH and XRP Price Analysis for April 7

The price bounced off this April low overnight and recovered to the $56,000 area. Recovery is proceeding slowly, at decreasing volumes.

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

Buyers might try to bring the pair back to the moving average EMA55 this morning. In the afternoon, the decline may resume and, if the bears intensify the onslaught, the price will break through the support of $55,000 and renew the monthly minimum around $54,000.

Bitcoin is trading at $57,839 at press time.

XRP/USD

Yesterday, the pair failed to gain a foothold above the psychological level of $1 per coin. The bears rolled back the price below the support of $0.900, setting the daily low at $0.855.

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

After the rebound, the pair tried to consolidate slightly above the support of $0.90, but today, the bears may push through this weak support and continue the pullback to the $0.80 level. We believe that in the area of average prices the decline will slow down and the volatility of the pair might decrease.

XRP is trading at $0.9621 at press time.

BNB/USD

Binance Coin (BNB) is the top gainer today. The rate of the native exchange token has gone up by 6%.

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

On the daily time frame, Binance Coin (BNB) has updated the peak and keeps going higher. Applying Fibonacci retracement to the chart, a rise is possible to the 61.8% level, or $430.

Binance Coin is trading at $416 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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