BNB flashed a buy signal at $571, while SOL’s price might decrease to $161.63.
XRP might consolidate but bears might force ADA down to $0.53.
DOGE’s analysis suggested a drawdown of $0.16 but SHIB might rebound as the ADX became weak.
Cryptocurrency prices over the last few days have been locked in a battle between bulls and bears. At some point, the values of these assets jumped. But most have been short-lived as bears keep rejecting the bullish recurring attempts.
Here is a look at the prices of some of the top cryptocurrencies.
BNB/USD
For the past few days, bulls have resolved to send Binance Coin (BNB) to $600. But the 4-hour analysis revealed that all those efforts have been futile. For instance, when the price increased from $551 on April 3, it could only get to $596 as bears enforced the resistance.
On Monday, April 8, a similar thing occurred. According to signals from the Relative Strength Index (RSI), bulls were making efforts to hit the $600 psychological area. Should the RSI reading climb past the midpoint, the BNB might have a shot again.
On the other hand, failure to improve buying momentum might send the price down to $5.16. Meanwhile, the Supertrend showed a buy signal at $571. Therefore, accumulation at this point could be profitable in the short term.
BNB/USD 4-Hour Chart (Source: TradingView) SOL/USD
For Solana (SOL), it has been a struggle to rise back to $200. At press time, the price of the token was $172.61. However, the MACD was negative, indicating a bearish momentum that could foreshadow a lower price.
Should bulls fail to arrest this decline, SOL might have no other option than to nosedive. If this is the case, a fall to $161.63 could be next. Conversely, a bullish bias for the token might create an upswing to $191.26.
In addition, the Chaikin Money Flow (CMF) was also negative, indicating that the price might not recover significantly in the short term.
SOL/USD 4-Hour Chart (Source: TradingView) XRP/USD
Since hitting $0.75 in March, XRP has failed to revisit the region. As of this writing, XPR changed hands at $0.61 with a notable resistance at $0.64. In the short term, it does not seem like XRP would climb past $0.64 considering the state of the EMAs.
At press time, the 9 EMA (blue) and 20 EMA (yellow) were almost at par, indicating that bulls and bears had similar strengths. As such, the price of the token might swing between $0.58 and $0.62 going forward.
XRP/USD 4-Hour Chart (Source: TradingView) ADA/USD
Cardano (ADA) sellers got exhausted on April 5, leading to a bounce to $0.62 a few days later. However, the token was unable to hold on to the price as it dropped again. At press time, the Cardano native token was back to $0.58, suggesting a dearth of buying pressure.
With this trend, and the one displayed by the RSI below, ADA might face further downsides. From a bearish point of view, the price of the token could drop to $0.53. However, if ADA gets oversold one more time, a rebound could occur, which could trigger its value to reach $0.60.
ADA/USD 4-Hour Chart (Source: TradingView) DOGE/USD
Dogecoin started April on a bad note, as its price plummeted from $0.22 to $0.16. Although it has encountered a bit of recovery, it has not been solid enough to keep the meme coin under bearish control.
DOGE changed hands at $0.19 at press time. However, the AO reading was negative, indicating that the coin’s momentum might continue to decline. In a case like this, the value of the token might drop back to the $0.16 support. But if bulls come to its rescue, DOGE might be able to recover to $0.20 for a start.
DOGE/USD 4-Hour Chart (Source: TradingView) SHIB/USD
SHIB peaked at $0.000030 on April 1 but that increase was short-lived. At press time, the SHIB/USD chart displayed bearish signals as sellers returned to prevent bulls from challenging the $0.000029 resistance.
Should bulls fail to overcome the bearish bias, then SHIB’s price could head down to $0.000026. Meanwhile, the Average Directional Index (ADX) was down to 19.76, indicating that the downtrend might soon be over.
SHIB/USD 4-Hour Chart (Source: TradingView)
Should this be the case, the price of the token might extend as high as $0.000039, as the Fibonacci extension showed.
The post BNB, SOL, XRP, ADA, DOGE, SHIB Price Analysis: April 10 appeared first on Coin Edition.
