Price Analysis: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, LUNA, DOGE, SHIB – April 7, 2022

Bitcoin and altcoin buyers are getting back into the market on April 7th after a selloff on April 6th, signalling a potential bullish reversal. 

Bitcoin and most altcoins were bearish all through April 6th. However, buying volumes are rising on March 7th, and most major cryptocurrencies are now trading at key resistance levels. The big question now is, can bulls reverse the market direction, or is the bear run about to continue? Let’s analyze the top 10 cryptocurrencies to find out. 

BTC/USD

Bitcoin (BTC) was strongly bearish all through April 6th. The same trend continues on April 7th; though bulls are trying to get back into the market, albeit with low volumes.  

BTC/USD daily chart. Source: TradingView

If bullish momentum rises, bulls can expect to face a wave of short-sellers at $43,724.80. If bulls can break the wall of short-sellers at $43,724.80, Bitcoin could test $45,454.80 in the short term.

However, if bears regain control, they can expect to find a wall of buyers at $42,739.31, the lowest price that BTC has hit in the last 24-hours. If Bitcoin bears are strong enough to break the wall of buyers at $42,739.31, Bitcoin could test $42,306.29 in the short term. 

Related: Bitcoin (BTC) Price Prediction 

ETH/USD

Ethereum (ETH) was strongly bearish all through April 6th. The same trend continues on April 7th, though bulls are trying to get back into the market, but buying volumes are still low. 

ETH/USD daily chart. Source: TradingView

If bullish momentum rises, bulls can expect to face a wall of short-sellers at $3221.11. If bulls can break the wall of short-sellers at $3221.11, Ethereum could test $3349.71 in the short term.

However, if bears retain control as they did on April 6th, Ethereum bears can expect bulls to fight hard at $3141.61. If Ethereum bears are strong enough to break the wall of buyers at $3141.61, Ethereum could test $3106.54 in the short term. 

Related: Ethereum (ETH) Price Prediction

SOL/USD

Solana (SOL) was strongly bearish all through April 6th and made lower highs throughout the day. The same trend continues on April 7th, though bulls are trying to get back into the market but can’t marshal enough volumes.

SOL/USD daily chart. Source: TradingView

If bullish momentum rises, bulls can expect to face a wall of short-sellers at $116.67. If bulls can break the wall of short-sellers at $116.67, Solana could test $124.22 in the short term.

However, if bears retain control as they did on April 6th, Solana bears can expect bulls to fight hard at $110.77. If Solana bears are strong enough to break the wall of buyers at $110.77, Solana could test $106.44 in the short term. 

Related: Solana (SOL) Price Prediction

BNB/USD

Binance Coin (BNB), like the rest of the market, was bearish all through April 6th. However, unlike most altcoins, Binance Coin has turned strongly bullish on April 7th. BNB bulls have already blown through the 20-day MA resistance at $426.4, and buying volumes are rising.

BNB/USD daily chart. Source: TradingView

If bullish momentum rises, bulls can expect to face a wall of short-sellers at $442.5 on the 100-day MA. If bulls can break the wall of short-sellers at $442.5, Binance Coin could test $460.1 in the short term.

On the other hand, if bears retake control, they can expect bulls to fight hard at $416.3, the lowest price that BNB has hit in the last 24-hours. If Binance Coin bears are strong enough to break the wall of buyers at $416.3, BNB could test $409.9 in the short term. 

Related: Binance Coin (BNB) Price Predictions

XRP/USD

Ripple (XRP) was strongly bearish all through April 6th and was making lower highs all through the day. The same trend continues on April 7th, though bulls are trying to get back into the market with low volumes.

XRP/USD daily chart. Source: TradingView

If bullish momentum rises, bulls can expect to face a wall of short-sellers at $0.8002 on the 50-day MA. If bulls can break the wall of short-sellers at $0.8002, XRP could test $0.8152 in the short term.

However, if bears retain control as they did on April 6th, XRP bears can expect bulls to fight hard at $0.7578, the lowest price XRP has hit in the last 24-hours. If XRP bears are strong enough to break the wall of buyers at $0.7578, XRP could test $0.7415 in the short term. 

Related: Ripple (XRP) Price Predictions

ADA/USD

Cardano (ADA) was strongly bearish all through April 6th and made lower highs throughout the day. The same trend continues on April 7th; though bulls are trying to get back into the market, volumes are too low. 

ADA/USD daily chart. Source: TradingView

If bullish momentum rises, bulls can expect to face a wall of short-sellers at $1.081 on the 20-day MA. If bulls can break the wall of short-sellers at $1.081, Cardano could test $1.137 in the short term.

However, if bears retain control in continuing the April 6th price action, Cardano bears can expect bulls to fight hard at $1.038, the lowest price that ADA has hit in the last 24-hours. If Cardano bears are strong enough to break the wall of buyers at $1.038, Cardano could test $1.020 in the short term. 

Related: Cardano (ADA) Price Predictions

AVAX/USD

Avalanche (AVAX) was strongly bearish all through April 6th and was making lower highs all through the day. The same trend continues on April 7th, though bulls are trying to get back into the market but are facing strong resistance at $84.54 on the 20-day MA. 

AVAX/USD daily chart. Source: TradingView

If bullish momentum rises and bulls break the wall of short-sellers at $84.54, bulls can expect to face more short sellers at $89.25 on the 50-day MA. If bulls can break the wall of short-sellers at $84.54, AVAX could test $92.54 in the short term.

However, if bears retain control in a continuation of the April 6th price action, AVAX bears can expect bulls to fight hard at $81.38, the lowest price AVAX has hit in the last 24-hours. If Avalanche bears are strong enough to break the wall of buyers at $81.38, AVAX could test $79.36 in the short term. 

Related: Avalanche (AVAX) Price Predictions

LUNA/USD

Terra (LUNA) started April 6th bearish, but short-sellers lost momentum in the latter part of the day. What followed was a consolidation that has continued on April 7th. However, bulls are gaining momentum, and LUNA has broken through the 20-day resistance at $108.68. 

LUNA/USD daily chart. Source: TradingView

If bullish momentum rises, bulls can expect to face more short sellers at $113.63 on the 100-day MA. If bulls can break the wall of short-sellers at $113.63, LUNA could test $120.77 in the short term.

However, if bears take back control, LUNA bears can expect bulls to fight hard at $105.69, the lowest price that LUNA has hit in the last 24-hours. If LUNA bears are strong enough to break the wall of buyers at $105.69, LUNA could test $99.0 in the short term. 

Related: Terra (LUNA) Price Predictions

DOGE/USD

Dogecoin (DOGE) was bearish all through April 6th. The same trend continues on April 7th, though bulls are trying to get back. Currently, bulls face a wall of short-sellers at $0.1460 on the 20-day MA.  

DOGE/USD daily chart. Source: TradingView

If bullish momentum rises, bulls can expect to face more short sellers at $0.1503 on the 100-day MA. If bulls can break the wall of short-sellers at $0.1503, DOGE could test $0.1547 in the short term.

However, if bears take back control, DOGE bears can expect bulls to fight hard at $0.1402, the lowest price that DOGE has hit in the last 24-hours. If DOGE bears are strong enough to break the wall of buyers at $0.1402, DOGE could test $0.1339 in the short term. 

Related: Dogecoin (DOGE) Price Predictions 

SHIB/USD

Shiba Inu (SHIB) was bearish all through April 6th. However, unlike most altcoins, Shiba Inu buying volumes have shot up on April 7th. SHIB bulls have pushed through the 20-day MA resistance at $0.00002465, and buying volumes are rising.

SHIB/USD daily chart. Source: TradingView

If bullish momentum rises, bulls can expect to face more short sellers at $0.00002578 on the 50-day MA. If bulls can break the wall of short-sellers at $0.00002578, SHIB bulls can expect to fight even more short sellers at $0.00002618 on the 100-day MA. If bulls can break the wall of short-sellers at $0.00002618, SHIB could test $0.00002849 in the short term.

However, if bears take back control, SHIB bears can expect bulls to fight hard at $0.00002390, the lowest price that SHIB has hit in the last 24-hours. If SHIB bears are strong enough to break the wall of buyers at $0.00002390, SHIB could test $0.00002351 in the short term. 

Related: Shiba Inu (SHIB) Price Predictions