Posted 4/3/2024, 5:44:14 PM
Cryptocurrencies See Volatility as Prices Consolidate, With Bitcoin and Ethereum Facing Resistance While Solana and Dogecoin Look to Rebound
- Bitcoin price is consolidating in an uptrend, but historically prices fall in mid-April. Spot Bitcoin ETF volume rose sharply in March.
- Ether price dropped below key moving averages, indicating bears have the upper hand. A drop below $3,056 could lead to further selling.
- Solana rebounded from the 20-day EMA, suggesting positive sentiment. Overcoming resistance at $205 could signal the next leg up.
- Dogecoin fell sharply below the $0.19 breakout level as traders booked profits. Price needs to reclaim the 20-day EMA to indicate the correction may be over.
- Avalanche plunged below the $50 breakout level. Failure to rise above the downtrend line accelerated selling.