Crypto Predictive Analysis for the Week of April 17, 2022 — Schadenfreude

Bitcoin Analysis

The Bitcoin price witnessed a short-term bull rally resonating in the inverted hammer pattern. However, the recent sell-off in the crypto market has sunk the coin price to shared support of ascending trendline and $40000.

  • Resistance level- $45000, $48100
  • Support level- $40000, $36400

Ethereum Analysis

The V-top correction rally slumped the ETH price to the $3000 mark. This support level aligned with the 50 and 100 DMA line stalled the ongoing retracement, and decreasing volume activity teases a bullish reversal. The potential recovery would surge the altcoin back to the $3600 mark.

  • Resistance levels: $3281 and $3600
  • Support levels: $2750 and $2500

Altcoin Analysis

Filecoin Analysis

The recent bear cycle from the $27 resistance tumbled the FIL price by 32%. The altcoin hit $16.7 bottom support, undermining the late march rally. If the coin price sustains above the mentioned support, the FIL price will rechallenge the $27 resistance.

  • Resistance levels- $22.5, and $27.3
  • Support levels- $16.78 and $10

EOS Analysis

The EOS price rebounded from the $2.12 support, indicating traders are buying on dips, and the price is likely to retest the aligned resistance of $3 and descending resistance trendline and 200-day EMA.

  • Resistance levels- $2.7, and $3
  • Support levels- $2.14 and $1.8

Cardano (ADA) Analysis

The V-top rejection from the $1.2 resistance plunged the Cardano(ADA) price below the $1 crucial support and 50-day SMA. The sellers continue to pressure the altcoin leading to the March bottom support at $0.78. However, a possible reversal from this support could initiate a range-bound rally in ADA.

  • Resistance levels- $1, and $1.1
  • Support levels-$0.85 and $0.78

Summary

On April 9th, Elon Musk was unveiled as Twitter’s largest shareholder and was widely expected to take a place on the company’s board. However, things took a U-turn when Twitter CEO Parag Agrawal announced that Musk would no longer be joining Twitter’s Board.

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Adam Tracy

Adam Tracy

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