Price Analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – April 6, 2022

Bitcoin and altcoins are making lower highs on April 6th signalling a continuation of the downtrend that started on April 5th. 

Bitcoin and most altcoins are trading in a bearish channel on April 6th. The selloff started on April 5th, and most cryptos have been making lower highs. However, in the last few hours, buying volumes have risen. The big question now is, is a bullish reversal imminent, or is the downtrend likely to continue? Let’s analyze the top 10 cryptocurrencies to find out. 

BTC/USD

Bitcoin (BTC) was range-bound in the early part of April 5th. However, it turned strongly bearish towards the end of the day. The bearish momentum continues on April 6th as BTC makes lower highs in a bearish channel. 

BTC/USD daily chart. Source: TradingView

If bulls regain control and high volumes, they can expect bears to put up a strong fight at $46,222.09 on the 100-day M.A. If bulls are strong enough to break the wall of short-sellers at $46,222.09, Bitcoin could test $48k in the short term.

However, if bears sustain the current momentum, they can expect bulls to fight back hard at $44,424.10. It’s a price level where bulls reversed a bear trend on April 1st and the last 24-hours. If bears can break the wall of buyers at $44,424.10, Bitcoin could test $42,999 in the short term.

Related: Bitcoin (BTC) Price Prediction 

ETH/USD

Ethereum (ETH) was range-bound in the early part of April 5th before turning strongly bearish towards the end of the day. The bearish momentum continues on April 6th as Ethereum makes lower highs in a bearish channel. 

ETH/USD daily chart. Source: TradingView

If bulls regain control, and with high volumes, they can expect bears to put up a strong fight at $3485.17 on the 100-day M.A. If bulls are strong enough to break the wall of short-sellers at $3485.17, Ethereum could test $3700 in the short term.

However, if bears sustain the current momentum, they can expect bulls to fight back hard at $3268.69. It’s a price level where bulls fought hard on April 1st and reversed a bear trend, and in the last 24-hours. If bears can break the wall of buyers at $3268.69, Ethereum could test $3194.5 in the short term.

Related: Ethereum (ETH) Price Prediction

SOL/USD

Solana (SOL) was range-bound in the early part of April 5th but turned strongly bearish towards the end of the day. The bearish momentum continues on April 6th as bears have negated a possible bullish reversal. 

SOL/USD daily chart. Source: TradingView

If bulls regain control and with high volumes, they can expect bears to put up a strong fight at $134.02 on the 100-day M.A. If bulls are strong enough to break the wall of short-sellers at $134.02, Solana could test $145.01 in the short term.

However, if bears sustain the current momentum, they can expect bulls to fight back hard at $120.17. It’s a price level where bulls reversed a bear trend on April 1st and in the last 24-hours. If bears can break the wall of buyers at $120.17, Solana could test $108.27 in the short term.

Related: Solana (SOL) Price Prediction

BNB/USD

Binance Coin (BNB) was bullish in the early hours of April 5th. However, it turned strongly bearish towards the end of the day. Bears have managed to slow down the selloff on April 6th, and Binance Coin is entering a consolidation phase. 

BNB/USD daily chart. Source: TradingView

If bulls regain control, they can expect bears to put up a strong fight at $447.1 on the 50-day M.A. If bulls are strong enough to break the wall of short-sellers at $447.1, Binance Coin could test $465.3 in the short term.

However, if bears sustain the current momentum, they can expect bulls to fight back hard at $438.8. It’s a price level where bulls have ended the selloff that started on April 5th. If bears can break the wall of buyers at $438.8, Binance Coin could test $415.8 in the short term.

Related: Binance Coin (BNB) Price Predictions

XRP/USD

Ripple (XRP) was range-bound for most of April 5th. While it turned bearish towards the end of the day, the XRP selloff was weaker than most major cryptocurrencies. This bearish weakness has seen bulls take control on April 6th and negated most of the losses made on April 5th. 

XRP/USD daily chart. Source: TradingView

If bulls regain control and with high volumes, they can expect bears to put up a strong fight at $0.8294 on the 100-day M.A. If bulls are strong enough to break the wall of short-sellers at $0.8294, XRP could test $0.8565 in the short term.

However, if bears sustain the current momentum, they can expect bulls to fight back hard at $0.8031. It’s a price level where bulls reversed a bear trend on March 31st and in the last 24-hours. If bears can break the wall of buyers at $0.8031, XRP could test $0.7735 in the short term.

Related: Ripple (XRP) Price Predictions

ADA/USD

Cardano (ADA) was bearish for most of April 5th, but the selloff only accelerated in the latter part of the day. The selloff has slowed down on April 6th, and the bulls have negated some of the losses from April 5th. 

ADA/USD daily chart. Source: TradingView

If bulls regain control and with high volumes, they can expect bears to put up a strong fight at $1.184 on the 100-day M.A. If bulls are strong enough to break the wall of short-sellers at $1.184, they can expect bears to put up an even bigger fight at $1.194 on the 50-day M.A. Breaking the wall of short-sellers at $1.194, could see ADA test $1.245 in the short term.

However, if bears sustain the current momentum, they can expect bulls to fight back hard at $1.119. It’s a price level where bulls reversed a bear trend on March, April 1st, and the last 24-hours. If bears can break the wall of buyers at $1.119, ADA could test $1.094 in the short term.

Related: Cardano (ADA) Price Predictions

AVAX/USD

Avalanche (AVAX) was bearish for most of April 5th, but the selloff only accelerated in the latter part of the day. However, the selloff has slowed down on April 6th, and AVAX is now consolidating. 

AVAX/USD daily chart. Source: TradingView

If bulls regain control and with high volumes, they can expect bears to put up a strong fight at $96.26 on the 100-day M.A. If bulls are strong enough to break the wall of short-sellers at $96.26, AVAX could test $100 in the short term.

However, if bears sustain the current momentum, they can expect bulls to fight back hard at $88.95. It’s a price level where bulls reversed the trend in the last 24-hours. If bears can break the wall of buyers at $88.95, Avalanche could test $85.07 in the short term.

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Terra (LUNA) was in a consolidation all through April 5th. However, it has bucked the trend on April 6th, and while most cryptos are bearish, LUNA is trading in a bullish channel along the 20-day M.A. 

LUNA/USD daily chart. Source: TradingView

If bulls sustain the upside momentum that LUNA has built on April 6th, they can expect bears to put up a fight at $119.53; the highest price LUNA has hit in the last 24-hours. If bulls are strong enough to break the wall of short-sellers at $119.53, LUNA could test $150 in the short term.

However, if bears gain momentum and reverse LUNA’s trajectory, they can expect bulls to fight back hard at $114.49 on the 100-day M.A. If bears can break the wall of buyers at $114.49, LUNA could test $106.03 in the short term.

Related: Terra (LUNA) Price Predictions

DOGE/USD

Dogecoin (DOGE) made a double top on April 5th after a rally through April 4th. The double top was followed by a selloff that has continued into April 6th. However, bulls are fighting back, and buying volumes are rising. 

DOGE/USD daily chart. Source: TradingView

If bulls sustain the upside momentum that DOGE has built on April 6th, they can expect bears to put up a fight at $0.1726, the price where Dogecoin formed a double top on April 5th. If bulls are strong enough to break the wall of short-sellers at $0.1726, DOGE could test $0.18 in the short term.

However, if bears sustain the current momentum, they can expect bulls to fight back at $0.1488 on the 100-day M.A. If bears can break the wall of buyers at $0.1488, DOGE could test $0.1318 in the short term.

Related: Dogecoin (DOGE) Price Predictions 

SHIB/USD

Shiba Inu (SHIB) was range-bound in the early part of April 5th but turned strongly bearish towards the end of the day. The bearish momentum continues on April 6th though bulls are fighting hard to regain market control.

SHIB/USD daily chart. Source: TradingView

If bulls regain control and with high volumes, they can expect bears to put up a fight at $0.00002658 on the 100-day M.A. If bulls are strong enough to break the wall of short-sellers at $0.00002658, Shiba Inu could test $0.00002847 in the short term.

However, if bears sustain the current momentum, they can expect bulls to fight back hard at $0.00002584. It’s a price level where bulls reversed a bear trend on April 3rd, April 4th, and the last 24-hours. If bears can break the wall of buyers at $0.00002584, Shiba Inu could test $0.000002446 in the short term.

Related: Shiba Inu (SHIB) Price Predictions