BTC, ETH and XRP Price Analysis for April 29


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Denys Serhiichuk

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How great are the chances to see the reversal of the top coins soon?

Bears have seized the initiative, turning all top 10 coins into the red zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) has declined by 2.72% over the last 24 hours.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

Bitcoin (BTC) could not fix above the $40,000 mark, confirming bears’ power. If the decline continues and the rate touches $38,000, the drop may lead the price of the first crypto to the zone around $36,000. Such a scenario is relevant until mid-May.

Bitcoin is trading at $38,924 at press time.

ETH/USD

Ethereum (ETH) has fallen the least from the list today. The decline has made up 2.52% since yesterday.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Analyzing the daliy chart, Ethereum (ETH) is looking more bearish than Bitcoin (BTC). The price is about to test the local blue level at $2,774.

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If the daily candle fixes below it, the main altcoin may face a sharp drop to the zone of $2,500-$2,600 soon.

Ethereum is trading at $2,852 at press time.

XRP/USD

XRP is the biggest loser today, going down by 3.32%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

Bears have continued their pressure since yesterday against the increased trading volume. At the moment, there are no signals for a market reversal, which means that there is a high possibility to see a further drop. If sellers break the $0.60 mark, the fall may continue to the nearest support at $0.54.

XRP is trading at $0.6196 at press time.


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