Bitcoin, Solana & Ripple — Asian Wrap 26 Apr

Bitcoin price could go for a countertrend rally. The risky countertrend move could unfold impulsive as wave C of B. Bitcoin price could continue to fake out traders as Smart Money has completed a successful liquidity hunt two Mondays in a row.

 

Solana price could see more downside as the bulls fail to establish support on multiple key levels. Solana price could fall an additional 25% into the $78 zone as the bulls failed to hold support following the breakout on March 30th. Following the first sell-off, the bears have managed to push the price through the parallel channel median line and the 50-day moving average.

 

XRP price could see liquidity grabs as the SEC delays the controversial securities hearing again. Liquidity under $0.62 has been deemed unsafe eye candy for long-term investors. XRP price still looks macro bullish despite the current market decline. However, traders should consider wisely approaching the digital remittance token as games, fake-outs, and sideways price action are likely to occur at the current levels.