BTC, ETH and XRP Price Analysis for April 11

AnalysisBTC, ETH and XRP Price Analysis for April 11


The new week has started bearish for the cryptocurrency market as most of the coins are in the red zone.

Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) has faced the smallest drop compared to other coins from the list. The most popular cryptocurrency has gone up by 4.28%.

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

Bitcoin (BTC) has gone below the zone of the most liquidity at $42,184 and almost touched the level at $40,300. At the moment, one needs to see where the daily candle closes. If buyers can seize the initiative and hold the $40,000 mark, there is a chance to see a false breakout, followed by the return to $42,000. In another case, the sharp drop may lead to the test of the $38,000 zone.

Bitcoin is trading at $40,872 at press time.

ETH/USD

Ethereum (ETH) has followed the fall of BTC, going down by 6.79% since yesterday.

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

From the technical point of view, Ethereum (ETH) has already reached its support level at $3,045 and is currently trading around it. This case is similar to the situation with Bitcoin (BTC), as closure below $3,000 may lead to a further decrease to the zone of $2,800-$2,900.

Ethereum is trading at $3,039 at press time.

XRP/USD

XRP is the biggest loser today as the fall has accounted for 6.85% over the last 24 hours.

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

XRP has tested the support level at $0.70323 against the low selling trading volume. It means that bears might stop their pressure for a while, and there is a chance to see a slight bounceback soon.

In this case, the growth may lead the price of XRP to the $0.75 mark.

XRP is trading at $0.70918 at press time.



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