Bitcoin (BTC) took its position back on the $60,000 level, the ongoing fight between bullish and bearish investors is leveling off, and the bulls are vigorously defending the critical supporting level of $60,000.
Traders are anticipating Bitcoin’s record peak of $61,781. If the bulls can push BTC past its last record high of $61,781, the crypto would gain traction. It can also help to boost DODO and Zcash, as altcoins have historically risen together with Bitcoin’s gains.
Coinbase will also be listed directly on Nasdaq on April 14. A strong listing would boost bullish momentum in the crypto industry as a whole, gaining more conventional investors.
If Coinbase’s $COIN stocks go down on their first day of trading on April 14, BTC, DODO, and ZEC can face a problem. Investors’ lack of interest in Coinbase’s listing can also give the bears a leg up on the whole cryptocurrency marketplace. However, the existence of this condition seems not that likely at the moment.
Bitcoin (BTC) Price Analysis
On April 10, Bitcoin rushed past the $61k resistance mark, hitting a peak of $61,222.22, just shy of its record levels.
But, it appears that the bullish investors are inactive. Over the weekend, they attempted to test again the psychological limit of $61K but were unsuccessful. This demonstrates that investors remain cautious at this price level. Investors can be hesitant to purchase aggressively due to higher prices and speculation about upcoming trends.
During the time of publishing, BTC didn’t close over $60,000 and is currently trading at $59,785. This demonstrates the bears’ high resistance.
The MACD index has been stable for a brief timeframe, while trading volume has decreased, indicating that both bulls and bears are hesitant. This suggests that BTC’s price will carry on to trade sideways at about $60,000 for some time.
The Stochastic Relative Strength Index indicator has reached the overbought region, implying that a bear crossover can occur at a higher level in the near future. The bears are attempting to push the price down to a 20-EMA of about $57,780. A quick recovery from the supporting stage increases the chances of breaking over $61,785.
If such a thing occurs, the BTCUSD currency pair can begin the following segment of the uptrend, pushing Bitcoin up to $70,000. But, if BTC goes down, $55,600 would be the initial primary support mark to watch. If the bulls struggle to protect this key support level, BTC will experience its initial sign of a trend reversal, and the crypto could test the $51,326 support zone.
Price Analysis of DODO
DODO is a decentralized liquidity aggregator service driven by the Proactive Market Maker, allowing for the top price exchange between any tokens via smart routing.
DODO’s price regained the EMA ribbon after a long bullish candlestick yesterday. This began a new cycle of an uptrend for DODO and increased trading volume, which is interesting to investors for sure.
If the bulls can drive the decisive closing price beyond $5.68, the bullish momentum could propel DODO to a record level of ten dollars.
The bullish MACD and the upward sloping moving average both show that the bulls are actually in control of the marketplace.
The Stochastic RSI entered the overbought area, which is the oscillator’s bearish hand. DODOUSDT will measure the $4.18 support zone if a big amount of sell orders are activated. If the bulls struggle to protect the $4.18 mark, the bullish outlook for DODO is going to vanish.
Analysis of the ZEC Price
Zcash is a crypto that aims to provide its users with greater privacy than other cryptos such as BTC and ETH.
The Zcash blockchain gives users the chance of disclosing or concealing transaction data. Zcash is actually the 47th biggest crypto. It has climbed by 24.88 percent in the last week.
Zcash is also a long way from its all-time peak of $2,175. But, it has displayed a robust stamina push since the start of the year, rising from $57 to $236, a 400% rise.
ZEC has grown steadily from March 26 to the present. The ZEC/USD transaction price is significantly bigger than the EMA ribbon. Despite a retracement on April 6 and 7, ZEC has rebounded robustly and begun a new cycle of an uptrend.
The stochastic RSI indicates that Zcash is approaching the eighty overbought mark. Small adjustments can be made in the coming days. However, this correction is required for Zcash to carry on climbing steadily.