Binance Update Shakes the Market: Bitcoin Rebounds to $70,000 as Altcoins Recover
Release: 2024/04/11 13:44 Reading: 831
You can also read this news on COINTURK NEWS: Binance Update Shakes the Market: Bitcoin Rebounds to $70,000 as Altcoins Recover
Bitcoin price has once again reached $70,000, and altcoins are on the mend. There are only a few days left until the halving. According to the current mining power, block rewards will be halved on Saturday, April 20th. So, what are the current price predictions for SOL, XRP, and DOGE? What dollar values are they targeting?
Solana (SOL)
Following poor inflation data, cryptocurrencies increased as the halving approached. While some altcoins rose, a significant portion limited their losses with the rise of BTC. Bulls are struggling to keep Solana above the 20-day EMA ($178). The price is at $173 at the time of writing.
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For a deeper correction, bears are targeting closures below the 50-day SMA ($159). A tough battle is expected at these levels, and once one is breached, SOL Coin will have set its course. If closures above $178 resume, $205 could be tested. Conversely, a drop to as low as $126 would not be surprising.
Ripple (XRP)
Although bulls are trying to push the price up, the long wick on the candlestick indicates that selling continues during rallies. Moving averages are flattening, and the RSI is lingering around the neutral zone, indicating ongoing indecision for XRP Coin. If there are no major surprises, the XRP price may continue to fluctuate between $0.56 and $0.69 for a while.
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An upward breakout could target $0.74, and accelerated selling could aim for $0.48. Following the halving, it would not be surprising for investors to see the $0.48 support level. Moreover, as market expectations for the first interest rate cut extend to September, things are getting tougher.
Dogecoin (DOGE)
Dogecoin made a good attempt but faced accelerated selling around $0.21 on April 8th. Bulls continue to defend the 20-day EMA ($0.19). The largest meme coin by market value is finding buyers at $0.196.
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If the $0.21 level can be surpassed, the DOGE price could continue its rise towards $0.23 and even $0.3. In a bearish scenario, losing the $0.19 level could lead to prices dropping to $0.16 or, in a deeper correction, to $0.12.
The post first appeared on COINTURK NEWS: Binance Update Shakes the Market: Bitcoin Rebounds to $70,000 as Altcoins Recover
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