Bitcoin and altcoins continue to be buffeted by macroeconomic and geopolitical uncertainty. However, data shows that bulls continue to buy on every dip. What are the key resistance levels that leading altcoins, including Bitcoin and AVAX Coin, need to cross to signal the end of the correction phase? Crypto analyst Rakesh Upadhyay examines the charts of the top 10 cryptocurrencies to find out.

BTC, ETH, BNB, SOL and XRP Coin analysis

Bitcoin (BTC) price analysis

Bitcoin broke above the 20-day exponential moving average ($65,855) on April 22. However, the bears stopped the rebound at the 50-day simple moving average ($67,509). If the price stays below the 20-day EMA, BTC could fall as low as $60,775. Buyers are expected to defend this level. Because a break below this level could pave the way for a collapse towards $54,298. On the contrary, if the price rises and breaks above the 50-day SMA, it will indicate that lower levels are attracting buyers. BTC is then likely to rise to $73,777. Buyers will need to clear this hurdle to take BTC to $84,000.

Ethereum (ETH) price analysis

ETH tried to break above the 20-day EMA ($3,237) on April 24. However, the long wick on the candlestick shows that the bears are not relaxing. If the price stays below the 20-day EMA, ETH risks falling below $3,056. If this happens, it is possible that ETH could retest the critical support at $2,852. This is a vital support to watch out for. Because a break below it is likely to drop ETH to $2,700. If the price rises from the current level or $3,056 and breaks above the 20-day EMA, it will indicate that the selling pressure has subsided. This is likely to push ETH to the 50-day SMA ($3,466) and then to $3,679.

Binance Coin (BNB) price analysis

BNB is gradually moving towards $635 where bulls are expected to face strong selling by bears. If the price drops sharply from $63 5d, it will indicate that BNB will extend its stay in the range for a while longer. BNB is likely to fall to the moving averages and then as low as $495. If buyers want to take control, they will have to overcome the $635 hurdle. If they do so, it will indicate that the next leg of the bull trend has begun to $692 and ultimately to the $775 pattern target.

Solana (SOL) price analysis

SOL reached the $162 level where bulls are likely to face strong resistance from the bears. If the price drops sharply from $162, it would indicate that the bears are fiercely defending the level. This would result in SOL being stuck between $162 and $126 for a few more days. Alternatively, if the price breaks above $162, it would indicate that the correction is over. The bullish momentum could increase and SOL could attempt a rise to $205. On the downside, a break below $126 would start a new downtrend towards $100.

Ripple (XRP) price analysis

XRP broke above the 20-day EMA ($0.54) on April 22. However, the bulls failed to sustain higher levels. The price fell sharply and moved below the 20-day EMA on April 24. This suggests that bears are active at higher levels. It is possible that XRP could fall to $0.50 and then to the firm support at $0.46. If buyers want to gain the upper hand, they will need to push the price back above the 20-day EMA. This would increase the probability that XRP will remain in the wide range between $0.46 and $0.74 for some time.

Analysis of DOGE, TON, ADA, SHIB and AVAX Coin

Dogecoin (DOGE) price analysis

Cryptocoin.comDOGE has been trading around $0.16 for the last few days. This points to a tough battle between the bulls and the bears. If the price continues to fall, the bears will again try to push DOGE down to $0.13. On the contrary, if the bulls push the price above the upper zone, it will signal that the correction is over. It is possible that DOGE could then rise to $0.21. However, the bears will pose significant difficulty here.

Toncoin (TON) price analysis

Toncoin (TON) broke below the ascending channel pattern on April 22. Thus, it showed that the bull trend is probably over. The bulls will make one more attempt to push the price back into the channel. If they do so, it will show that this breakout was a bear trap. This is likely to lead to a short squeeze, pushing the price towards $7.23. Instead, if the price turns down from the breakdown level in the channel, it will indicate that the bears are trying to turn the level into resistance. Selling is likely to accelerate when the price breaks below $5.42. Thus, TON is likely to fall to the 50-day SMA ($5.01).

Cardano (ADA) price analysis

ADA’s recovery stalled at the 20-day EMA ($0.51) on April 22. This suggests that bears continue to sell at higher levels. The bears will try to push the price down to $0.46. This is an important level to watch out for. Because if the support is cut, it is possible that ADA could go down to $0.40. Bulls are likely to defend this level strongly. Because a break below it will signal the start of a deeper correction towards $0.35. The first sign of strength would be a break and close above the 20-day EMA. If this resistance is breached, it would suggest a short-term trend change. ADA’s subsequent rise to $0.57 is possible.

Avalanche (AVAX Coin) price analysis

AVAX Coin price is likely to face resistance in the area between the 20-day EMA ($40) and the $42 breakout level. A sharp fall in the price from the current level will indicate that the bears remain in command. AVAX Coin price is likely to fall towards the $32 to $27 support zone. Buyers will try to protect this zone with all their might. Because if they fail in their efforts, AVAX Coin price is likely to fall to $20. Instead, if the bulls push the AVAX Coin price above $42, this will signal the start of a sustained rebound. The AVAX Coin price is likely to rise to $50, where the bears will again mount a strong defense.

Shiba Inu (SHIB) price analysis

SHIB broke above the bear trend line on April 21. However, the bulls failed to break the barrier at the 50-day SMA ($0.000028). If the price pierces the 50-day SMA, it will indicate that the corrective phase will be over. It is possible that SHIB may rise as high as $0.000033. It may also attempt a rally towards the solid resistance at $0.000039 after that. Conversely, if the price drops sharply and breaks below the 20-day EMA, it will indicate that the break above the bear trendline could be a bull trap. SHIB is then likely to slide towards $0.000020.