BTC, ETH, BNB, ADA and DOGE Price Analysis for April 16

BTC, ETH, BNB, ADA and DOGE Price Analysis for April 16

On the last working day of the week, the cryptocurrency market has faced a dump; however, some coins could even rise. Mainly, DOGE has rocketed by more than 150% over the last day.

Top 10 coins by CoinMarketCap
Top 10 coins by CoinMarketCap

The vital statistics for Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA) and DOGE:

Name

Ticker

Market Cap

Price 

Volume (24h)

Change (24h)

Bitcoin

BTC

$1,136,189,158,459 $61,420.11 $77,670,405,570 -2.64%

Ethereum

ETH

$272,829,066,970 $2,413.17 $35,277,005,453 -1.99%

Binance Coin

BNB

$76,319,500,093 $509.78 $6,152,437,029 -7.20%

Cardano

ADA

$43,339,243,851 $1.39 $5,504,119,427 -5.88%

DOGE

DOGE

$50,632,566,072 $0.3572 $64,733,084,994 166%

BTC/USD

Bitcoin (BTC) has rested the support at $60,000 and bounced off, showing a 2.64% decrease.

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

It means that buyers are not going to give this area so easily to bulls. In this case, one might expect a correction to the nearest resistance zone at $62,000-$62,500 shortly.

Bitcoin is trading at $61,427 at press time.

ETH/USD

Ethereum (ETH) is less bearish than Bitcoin (BTC) as the rate of the chief altcoin has gone down by 2%.

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

From the technical point of view, Ethereum (ETH) is more bullish than Bitcoin (BTC) as the current drop is likely to be considered a correction to gain more liquidity before setting new peaks.

However, at the moment, the more likely price action is a bounceoff to $2,477.

Ethereum is trading at $2,417 at press time.

BNB/USD

Binance Coin (BNB) is the main loser today as the price of the native exchange token has decreased by 7%.

BNB/USD chart by TradingView
BNB/USD chart by TradingView

Binance Coin (BNB) is about to follow the Ethereum scenario as buyers might seize the short-term initiative and get the price to the resistance at the zone around $600. However, it is too early to consider the setting of new peaks.

BNB is trading at $508 at press time.

ADA/USD

Cardano (ADA) is the second-most falling coin today. The rate of it has declined by 5.88%.

ADA/USD chart by TradingView
ADA/USD chart by TradingView

Cardano has also bounced back to the support level at $1.33, which means that this level plays a key role for bulls. In terms of the near-term price projection, traders might expect the restest of the resistance at $1.44 soon.

Cardano is trading at $1.41 at press time.

DOGE/USD

DOGE is the coin of the day as its rate has blasted by a whopping 166%. Moreover, the coin is in fifth place on the CoinMarketCap ranking.

DOGE/USD chart by TradingView
DOGE/USD chart by TradingView

However, a correction is more likely than a decline. In this regard, a drop may occur soon, to the support level of $0.32. The growth potential may not have ended, though the asset needs more power to keep the trend going.

DOGE is trading at $0.3788 at press time.

editorial staff