An analysis of Bitcoin Sentiment revealed a substantial improvement in the general perception from “extreme fear” to “neutral” over the past month. Furthermore, the correlations of other alts to Bitcoin also improved during this time.

As a result, Cardano, Shiba Inu, Binance Coin, and Terra showed a bullish advantage over their near-term technical characteristics. Nevertheless, the overall directional trend had yet to improve for a strong bullish rally.

Cardano (ADA)

Source: TradingView, ADA/USDT

After hitting a one-year low on Feb. 24, ADA saw a 62%+ recovery. Consequently, it has reclaimed the $1.2 mark. For the past two weeks, the up-channel (yellow) oscillation has continued as the bulls steered the trend in their favor.

After briefly losing its 20 EMA (red), ADA bulls quickly switched it from resistance to support after the recent rally. Furthermore, the alt witnessed a bullish pennant in the past five days. The 24-hour gain sparked a breakout as it tried to test the USD 1.2 resistance.

At the time of writing, ADA was trading at $1,217. The RSI grew exponentially from April 1, while the supportive trendline remained solid. From here, the direct resistance was in the 63-66 range. Interestingly, the OBV was unable to match the price moves of the past two days as it saw a weak bearish divergence.

Shiba Inu (SHIB)

Source: TradingView, SHIB/USD

Despite the powerful bearish rally, buyers maintained the $0.018 level, as they have for the past five months. Since the January lows, SHIB bulls have started a 104% rally before falling from the long-term ceiling of $0.034 (for simplicity, the price has been multiplied by 1000).

Since then, the sellers have influenced the highs, while the bulls have pushed into higher troughs. In recent days, a symmetrical triangular pattern has formed. Now immediate support remained near the 50 EMA (cyan).

At time of going to press, SHIB was trading at $0.0266. The RSI managed to cross the centerline, but had yet to challenge the 56 resistance. Also the ADX was in constant decline as it showed a significantly weak directional trend for SHIB.

Binance Coin (BNB)

Source: TradingView, BNB/USDT

After witnessing a bearish pattern on a longer time frame, BNB broke from the vital $512 mark. Since then, it has witnessed countless sales that eventually stalled on the $324 floor.

The alt saw strong trendline resistance (yellow, dashed) (now support) on its 4-hour chart. The bulls began to recover from BNB’s five-month low on Feb. 24. The result was an increase of almost 38% in the past 40 days. Furthermore, the 20 EMA (red) offered solid support after jumping above the 50 EMA (cyan).

As of going to press, the BNB was trading at $447.2. The RSI marked lower highs in the past four days, while the price managed to find higher highs. This trajectory revealed a bearish divergence.

Terra (LUNA)

Source: TradingView, LUNA/USDT

LUNA’s two-month low coincided with the 61.8% Fibonacci support. This allowed the bulls to muster enough strength to propel a rally above the $100 zone.

After growing more than 140% from the February lows, LUNA continued its gradual rebound after marking bullish trendline support (white, dashed). A pullback from here would continue to find test support at the 50 EMA (cyan).

At the time of going to press, LUNA was trading at $114.32. the bullish RSI hovered above the centerline after encountering resistance at the 66 mark. Also the CMF reconfirmed a bullish edge after jumping above the zero line.



This post Cardano, Shiba Inu, Binance Coin, Terra Price Analysis: April 04

was published first on https://ambcrypto.com/cardano-shiba-inu-binance-coin-terra-price-analysis-04-april/

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