Bitcoin price analysis is bullish today as we have seen further consolidation over the last 24 hours with rejection for the downside. Therefore, BTC/USD has likely established a strong enough base to rally higher over the next week.
The market has traded in the red over the last 24 hours with low volatility. The market leader, Bitcoin, lost 0.32 percent, while Ethereum 0.74 percent. The rest of the top altcoins followed close by.
Bitcoin price movement in the last 24 hours: Bitcoin moves sideways
BTC/USD traded in a range of $39,422.26 to $39,935.86, indicating low volatility over the last 24 hours. Trading volume has declined by 32.46 percent, totaling $15.7 billion, while the total market cap trades at $750.74 billion, resulting in a dominance of 40.97 percent.
BTC/USD 4-hour chart: BTC ready to break above $40,000?
On the 4-hour chart, we can see the Bitcoin price action rejecting the downside again over the last hours, likely leading to a break higher early next week.
The Bitcoin price action has seen a higher high set this week after an 11 percent rally to the $43,000 mark. From there, strong rejection for further upside was seen on 21 April 2022, followed by retracement over the next days.
BTC/USD quickly lost 8.5 percent to the $39,200 support, where the market has formed consolidation since. Considering the strong support right now, we expect that another higher low has been set, and more upside will follow soon.
Likely, once the Bitcoin price action moves back above $40,000, a lot more upside will follow. The next target of local resistance is relatively close by – at $46,000 and, if broken, would further indicate another strong rally incoming over the next week.
Bitcoin price analysis: Conclusion
Bitcoin price analysis is bullish today as we have seen further consolidation, forming a strong base. Therefore, BTC/USD should soon begin to rally and break above the $40,000 mark.
While waiting for Bitcoin to move further, see our articles on How to stake Shiba Inu on Metamask, How to buy Ankr, and Is Safuu a good investment in 2022.
Ethereum price analysis is bullish today as we have seen further consolidation and rejection for the downside over the last 24 hours. Therefore, we expect ETH/USD to begin pushing higher early next week.
Ethereum price analysis
The market has seen a slight downside over the last 24 hours. The leader, Bitcoin, lost 0.32 percent, while Ethereum lost 0.83 percent. Meanwhile, the rest of the market has seen slightly more downside.
Ethereum price movement in the last 24 hours: Ethereum still moved sideways
ETH/USD traded in a range of $2,922.13 to $2,975.32, indicating mild volatility over the last 24 hours. Trading volume has declined by 27.7 percent, totaling $8.53 billion, while the total market cap trades around $354.43 billion, resulting in a dominance of 19.28 percent.
ETH/USD 4-hour chart: ETH ready to reverse?
On the 4-hour chart, we can see another rejection for the downside over the past hours, indicating that the Ethereum price action is ready to reverse and head higher early next week.
The Ethereum price action has seen relatively large volatility over the course of last week. From the last swing low at $2,880, ETH/USD quickly gained over 10.5 percent until the $3,175 mark was reached on 21 April 2022.
From there, quick retracement followed during the middle of the week. Support was initially found at $2,950 previous support, with further tests of downside as low at $2,925.
Since then, the Ethereum price action has consolidated and continued to reject any further downside. Therefore, the next week should see more upside tested as sellers are exhausted, and another clear higher low is set.
Ethereum price analysis: Conclusion
Ethereum price analysis is bullish today as we have seen further consolidation and failure to move any lower. Likely this will lead ETH/USD higher again over the next 24 hours, with the $3,000 mark being the closest target.
Litecoin price analysis
Litecoin price analysis continues to show bearish signs for the fifth consecutive day, as price dropped more than 2 percent over the past 24 hours. A low of $104.11 was recorded after LTC struggled to consolidate momentum above the $105 region to remain below the 9 and 21-day moving averages. Further movement south would bring the support zone at $100 into play which could spell a significant move down towards next support levels at $85 and $80. Conversely, if buyers can rescue price from free fall at current trend, LTC could line up to reach $110 with the next resistance level set at $117.
The larger cryptocurrency market also continued to stay in the red zone as Bitcoin fell to $39,500 and Ethereum dropped below the significant $3,000 mark. Altcoins suffered similarly, as Ripple fell to $0.70 and Dogecoin to $0.13, both enduring a 2 percent drop. Polkadot fell 4 percent to $18.32, Solana 2 percent to $99.81 and Cardano to $0.88 with a 1 percent dip.
Litecoin price analysis: RSI may fall below 40 to suggest more bearish signals
On the 24-hour candlestick chart for Litecoin price analysis, price can be seen receding for a fourth consecutive 24-hour trading session. Price has fallen more than 8 percent over this period, falling to the lowest point this month. The 50-day exponential moving average (EMA) is still well above the current price at $108 and provides the next pressure point for LTC. The $117 resistance will come into play f buyers can consolidate up to this level and push ahead.
However, the relative strength index (RSI) shows bearish signs in this regards at a value of 41.38 and could fall below 40 over the next 24 hours. The moving average convergence divergence curve also shows bearish lows as it swerves away from the neutral zone after initially forming an upper divergence on April 20.
Quant price analysis
The recent Quant price analysis confirms a bullish trend for the cryptocurrency, as the buying momentum has intensified. A green candlestick has appeared on the price chart, indicating a rise in the coin value after a bearish period of four consecutive days. If the bullish rally continues in the future, further improvement in QNT/USD value can be expected. The recent upturn has taken the price to $108.9 above the first resistance of $107.7, as it has recovered. The price also oscillated high towards $112.5 but has corrected again.
QNT/USD 1-day price chart: Price recovers to $108.9 after bullish revival
The one-day Quant price analysis shows that the bullish momentum has been recovered in the past 24-hours. Although the cryptocurrency faced loss in the past few days, the bulls are now on their way toward achieving their next target. The short-term trending line is still traveling descendingly, and the price is now settling at the $108.9 mark. After the latest upturn, as the coin gained around 3.5 percent value today, the price crossed its moving average (MA) value which is at $110 but stepped below MA again just recently.
The SMA 50 curve is still traveling at a greater height than the SMA 20 curve, as the bears were overpowering the market trends in the earlier weeks. If we move towards the Bollinger bands indicator, then it shows high volatility for the crypto pair, the upper value is $129 representing the strongest resistance, and the lower value is $101 representing the strongest support for QNT. The Relative Strength Index (RSI) score has improved to index 37 after the bullish return, as previously, RSI was hovering above the borderline of the underbought zone.
Quant price analysis: Recent developments and further technical indications
The hourly price chart for Quant price analysis is going in the bearish direction at the moment as the price underwent a sufficient decline in the past few hours. However, during the entire day, bullish price action has been seen. The market trend has changed as selling pressure appeared, and currently, the bears are moving ahead. Due to the latest bearish current, the price moved down to a $108.9 low in the last four hours. Further decline is possible if the bears remain consistent. The moving average value is present at $108 below the current price level.
The volatility is decreasing, which means that the price might find a bullish recovery in the coming hours, a relatively positive hint. The upper band of the Bollinger bands indicator is now touching the $111 position, whereas its lower band is at the $104 position. The RSI score is in a quiet neutral zone and has dropped up to index 48 due to the latest downturn due to the selling pressure.
Quant price analysis conclusion
The one-day and four-hour Quant price analysis shows quite encouraging results for the buyers today, as the price followed an upward trend. The coin value has been raised to $108.9 due to the latest bullish wave. On the other side, the four-hour price chart displays a red candlestick as the market followed a bearish trend in the past four hours. However, the larger trend is bullish for today, and the cryptocurrency price will cap at a comparatively higher point, thus supporting the buyers.