|

Top 3 price predictions for Bitcoin, Ethereum, and Ripple for April 30: short-term analysis

  • Lateral action in the main Cryptocurrencies over the weekend, consolidation after last two weeks
  • Ethereum shows exhaustion, losing momentum against Bitcoin

The main Cryptocurrencies reached and broke above important resistance levels during the last week, which seems to have stalled the moves as there has been little action since.

Returning formations appeared in the daily Crypto charts on April 25th, setting resistance levels that have not been breached and are weighing negatively in the analyses. On the bullish side, supports conquered have been untouched, which is good news for bulls. In the short term, uncertainty remains.

BTC/USD daily chart

BTC/USD

BTC/USD is trading around $9218 in the European morning, an intermediate area in the last 4 days range. Last Wednesday, the daily chart left us an important bearish cover, leaving a high at $9757 which is the main target point for any bullish attempts.

On the upside, resistance is at the mentioned $9757 level, followed by $10132, $10634 and as the main target, $11271. On the bearish side, the first support is at $8792, the bearish candlestick low, followed by $8458 and $7922.

MACD in the Bitcoin daily chart shows a loss of steam which is reasonable, looking to confirm and consolidate the previous rises before trying to go for more bullish legs.

Directional Movement Index in the same chart shows the sellers in retreat, with no confidence in hypothetical meaningful sells. Descent in buyers' numbers is very slight and continues to be at weak levels of trend strength.

ETH/USD daily chart

ETH/USD

Ethereum is showing the same technical picture than Bitcoin. A negative formation in the daily chart appeared last April 25th. The current formation has not been broken to the bullish side either, so it's still fully valid. The level to break is at the $703.85, followed by a continuation to the resistance levels located at $755.49 and $812.04.

Below there, intermediate support at $659.05, followed by the bearish candlestick lows at $621.33. That is a level to watch, as if ETH/USD breaks below it, the technical landscape would change to a bearish continuation pattern.

MACD in the Ethereum daily chart shows lack of strength, reasonable after the important rises of last weeks. The indicator is moving inside bullish territory, but with a continuation profile and consolidating the levels reached.

Directional Movement Index in the same chart shows a weaker configuration than in the Bitcoin one, with sellers retreating after having sold strongly last April 25th. Buyers also reacted to the bearish formation increasing their activity. Buyers still are at high levels but retreating as the days go without a clear direction.

XRP/USD daily chart

XRP/USD

Ripple has not been able to develop into price action the positive news its platform has been producing the last days. Ripple Ltd. is delivering positive messages with regards to the distribution of the cryptocurrency and the adequation to the legal requisites of the regulators.

Technically, XRP/USD left a strong formation last April 25th, consolidated by a Doji candle yesterday that might bring today another important bearish signal.

On the upside, resistance is located at $0.85, followed by $0.88 and $0.95. Supports are at $0.80, followed by $0.7696. Below there, the main support is located in the 50-EMA, trading around $0.75.

MACD in the Ripple daily chart is trading in the bullish segment of the indicator, but with a bearish cross that will be confirmed if today doesn't bring a positive close.

Directional Movement Index in the same chart is indeed showing the sellers trying to regather their edge, while buyers are not convinced of their possibilities.

Author

Tomas Salles

Tomas Salles

FXStreet

Tomàs Sallés was born in Barcelona in 1972, he is a certified technical analyst after having completing specialized courses in Spain and Switzerland.

More from Tomas Salles
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

BNB Price Forecast: BNB slips below $855 as bearish on-chain signals and momentum indicators turn negative

BNB, formerly known as Binance Coin, continues to trade down around $855 at the time of writing on Tuesday, after a slight decline the previous day. Bearish sentiment further strengthens as BNB’s on-chain and derivatives data show rising retail activity.

Top Crypto Losers: Aster, Midnight, and Ethena extend losses as selling pressure mounts

Aster, Midnight, and Ethena are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin dropping below $86,000. ASTER, NIGHT, and ENA risk further losses as selling pressure mounts and risk-off sentiment spreads across the crypto market.

Ethereum Price Forecast: BitMine acquires 102,259 ETH as price plunges 5%

Ethereum (ETH) treasury company BitMine Immersion scaled up its digital asset stash last week after acquiring 102,259 ETH since its last update. The purchase has increased the company's holdings to 3.96 million ETH, worth about $11.82 billion at the time of publication.

Strategy scoops about $1 billion in Bitcoin for second consecutive week

Bitcoin (BTC) treasury and financial intelligence firm Strategy expanded its holdings following another round of weekly accumulation.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.