BTC, ETH, BNB, SOL, XRP, DOGE, ADA, AVAX, TON, SHIB

Bitcoin (BTC) is seeing a fierce battle between bulls and bears near the $69,000 mark. Independent trader and analyst Daan CryptoTrades on XPost said Bitcoin has been hovering around the 2021 peak cycle for about four weeks. Historically, Bitcoin consolidates at cyclical highs for 4-8 weeks before the price begins to move again.

Although the range-bound move upset traders, a shallow retracement is a positive sign. Checkmate, a virtual chain analyst at Glassnode, said in a post on X that Bitcoin saw two corrections of more than 50% during the bull market cycle between 2019 and late 2021. However, the disruptions during the current bull season are mild, with the last 20 percent drop in September last year.

Strong buying interest in the space could limit the downside of bitcoin exchange-traded funds in the current cycle. Another reason for the shallow retracement could be the expectation that Bitcoin could extend the bull market after the halving.

Will the current Bitcoin consolidation resolve downward or upward? Is the correction in selected altcoins over? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin has formed a symmetrical triangle pattern that shows the balance between buyers and sellers. Generally, a symmetrical triangle works as a continuation pattern, but sometimes, it can be a reverse setup.

The flat 20-day EMA ($67,750) and the RSI near the midpoint do not give a clear advantage to either the bulls or the bears. If the price declines and breaks below the triangle, it signals the initiation of a deep correction. The BTC/USDT pair may drop to $60,000 and finally to the 61.8% Fibonacci retracement level to $54,298.

On the contrary, if the price changes and breaks above the triangle, it indicates that the bulls have taken the supply. That increases the likelihood of a resumption of the boom. The pair could rise to $73,777 and then $80,000.

Ether price analysis

Ether (ETH) has been trading below the 50-day SMA ($3,434) for the past three days, indicating a lack of strong interest at these levels.

The moving averages are about to complete the bearish cross, and the RSI is in the negative zone, which indicates that the sellers have an advantage. There is strong support at $3,056, but if this level is broken, the ETH/USDT pair may drop to $2,700.

Instead, if the price rebounds strongly from the $3,056 level, it would indicate aggressive buying on the dips. The pair could consolidate between $3,056 and $3,678 for a few days. A rise above $3,678 indicates that the bulls are back in the game.

BNB price analysis

BNB (BNB) price action over the past few days has formed a symmetrical triangle pattern, indicating indecision between bulls and bears.

It is difficult to predict the direction of the key from the triangle. Therefore, it is better to wait until the eruption occurs before establishing large areas. If the price breaks above the 20-day EMA ($565) and breaks above the triangle, it will signal a resumption of the uptrend. The BNB/USDT pair may rise to $692 and then to the $795 pattern target.

On the contrary, if the price slips below the triangle, the advantage will shift to the bears, and the pair may fall to $460. If this level gives way, the next stop could be the $395 pattern target.

Solana price analysis

Solana (SOL) fell below the 20-day EMA ($181) on April 5, indicating profit booking by short-term traders.

The SOL/USDT pair may drop to a strong support at $162. If the price recovers strongly from this level and rises above the 20-day EMA, it suggests that the pair may remain in the range between $162 and $205 for some time.

Conversely, the pair will complete a bearish pattern if the price continues lower and falls below $162. There is a small support at the 50-day SMA ($152), but it can be broken. The pair could then fall to $126.

XRP price analysis

XRP (XRP) broke below the high line on April 3 and the bears successfully maintained the level on April 4, indicating selling on each minor rally.

The 20-day EMA ($0.61) and the RSI in negative territory point in favor of sellers. If the price falls below $0.56, the XRP/USDT pair may drop to $0.52 and then to $0.48.

If bulls want to make a comeback, they need to quickly push the price above the 20-day EMA. That could clear the way for a rally to $0.69. This level could again act as a strong barrier, but if the bulls overcome it, the pair could reach $0.74.

Dogecoin price analysis

Dogecoin (DOGE) broke below the 20-day EMA ($0.18) on April 3, and the bears thwarted the bulls' attempt to push the price back above the level on April 4.

The sellers try to build their profit and retrace the price to the 50-day SMA ($0.15). This is an important level to watch out for as a break below could open the door to further declines to $0.12.

Bulls have stopped working. If they want to regain their dominance, they need to quickly get the price above $0.19. If they do that, the DOGE/USDT pair could climb to the $0.23 overhead resistance.

Cardano price analysis

The bulls are struggling to defend the $0.57 level in Cardano (ADA), which suggests a lack of interest at current levels.

If the price is below $0.57, it will complete a bearish head and shoulders pattern. This negative setup has a target of $0.33, but the bulls will try to contain the decline with strong support at $0.46.

Alternatively, if the price is above $0.57, it indicates strong buying at lower levels. The ADA/USDT pair will attempt a rally towards $0.68, where the bears are expected to mount a strong resistance.

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Price analysis

Avalanche (AVAX) slipped below the 50-day SMA ($47) on April 3, indicating that the bears are in charge.

The bulls tried to push the price above the 50-day SMA on April 4 but failed. That increases the possibility of a drop to $42. This is an important support, and the bulls defend it vigorously. Any recovery is likely to be met with selling by moving averages again.

To signal that a correction may be over, buyers need to break out and hold the price above the lower line. The AVAX/USDT pair may test a rally towards $60 and then towards $65.

Token price analysis

Toncoin's (TON) 20-day EMA ($4.73) reached the downtrend line on April 3, a critical level to watch out for.

If the bulls make the price above the lower line, it indicates that the correction may be completed. The TON/USDT pair could retest the $5.69 resistance. The bears are expected to strongly defend this level because if their efforts fail, the pair could rise to $7.09.

Contrary to this assumption, if the price drops significantly from $5.69, it indicates that the bears are moving higher. That would keep the pair between $5.69 and $4.72 for the time being.

Shiba Inu price analysis

The bulls are trying to push Shiba Inu (SHIB) back above the 20-day EMA ($0.000028), but the bears are not relenting.

The flat 20-day EMA and RSI near the midpoint do not give a clear advantage to either the bulls or the bears. A break and close below the 50-day SMA ($0.000024) would accelerate the sell-off and could give the SHIB/USDT pair to $0.000017.

On the downside, the bulls should hold the price above the lower line to signal that the drive and correction phase may be over. The pair may rise to the strong overhead resistance at $0.000033 and later at $0.000039.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.