Can Crypto Bounce Back? BTC, ETH, XRP, and SOL Chart Analysis
Bitcoin Price Analysis
Bitcoin attempted a rebound on April 8 but met heavy selling near the 20-day EMA at $82,218, indicating that bearish sentiment remains strong and traders are selling on rallies.
The downward-sloping moving averages favor the bears, though a positive divergence in the RSI hints that bearish momentum might be slowing. However, a drop below $73,777 could lead BTC/USDT toward the next support at $67,000. The $67,000–$65,000 zone could see solid buying activity.
The 50-day SMA at $85,703 stands as a significant resistance level. Until the price moves above it, the correction may not be over, and upward moves may face increased selling pressure.
Ethereum Price Analysis
Ethereum (ETH) remains in a strong downtrend but has reached a support level at $1,368, which could spark a short-term recovery.
The ETH/USDT pair may climb toward the 20-day EMA at $1,786, although that level is likely to act as stiff resistance. If the price drops from the 20-day EMA, bears will likely attempt to break below $1,368, possibly triggering a fall toward $1,150.
Conversely, if ETH holds $1,368 after a pullback, it may suggest a range-bound move. A sustained breakout above the 20-day EMA would signal weakening bearish pressure and open the door for a potential rally to $2,111.
XRP Price Analysis
XRP attempted to break past the $2 resistance on April 8 but was pushed back by sellers, confirming that bears are defending this level aggressively.
If the price breaks below $1.61, the XRP/USDT pair could resume its downward trend, with the next support level at $1.27. This would confirm continued bearish control.
However, if buyers can lift the price above the 20-day EMA at $2.10, it could indicate strong demand at lower levels. The 50-day SMA may offer temporary resistance, but if that level is surpassed, XRP could retest its upper resistance zone where bears are likely to regroup.
Solana Price Analysis
Solana (SOL) is trading below the key $110 support level, but bears have been unable to trigger a major breakdown. This suggests a lack of aggressive selling at lower levels.
Buyers may encounter resistance between $110 and $120. If the price falls from this zone, it indicates bears are selling into strength, increasing the chances of a drop below $95. If that happens, the SOL/USDT pair could retreat to $80.
On the other hand, a decisive close above $120 would invalidate the breakdown below $110. While the 50-day SMA at $135 could pose short-term resistance, breaking through it would suggest renewed bullish momentum. The next targets could be $147 and even $180.