According to CoinShares, the institutional inflow into crypto products hit $4.5 billion in Q1, これは 11% higher than the intake seen in Q4 2020. This shows that institutional interest is on the rise but the quarter-on-quarter growth has slowed down from the 240% recorded in Q4 2020.
As Bitcoin price moves higher, more funds are needed to sustain the levels. したがって、, if institutional inflows do not pick up in the next few days, ビットコイン (BTC) and other altcoins could witness a major correction.
The next correction could test the resolve of institutional investors and even though these investors have deep pockets, some may have jumped into crypto only for quick speculative gains. There is always the possibility that investors may dump their positions if Bitcoin starts a correction.
While this may accelerate the fall, lower levels are likely to attract investors who may have missed the bus earlier. If this assumption plays out, volatility throughout the market may remain high in the next few days.
Let’s analyze the charts of the top-10 cryptocurrencies to see if it also projects a possible correction.
BTC / USDT
Bitcoin’s failure to cross the stiff overhead resistance zone at $60,000 に $61,825.84 seems to have attracted profit-booking from short-term momentum traders. This has pulled the price back below the 20-day exponential moving average ($56,863) 今日.
価格が20日間のEMAを下回っている場合, the bears may sense an opening and are likely to challenge the critical support at the 50-day simple moving average ($54,333). If this support cracks and the bears manage to sustain the price below the 50-day SMA, 販売が激化する可能性があります.
The next support on the downside is $50,460. If this level also gives way, the BTC/USDT pair could plummet down to $43,006.77. The flattening moving averages and the relative strength index (RSI) dropping below 52 suggest that the bulls may be losing their grip.
この仮定に反して, if the price rebounds off the 50-day SMA, the bulls will make one more attempt to push the pair to a new all-time high. 彼らが成功した場合, the pair could start its journey to the next target objective at $69,540 その後 $79,566.
ETH / USDT
エーテル (ETH) broke to a new all-time high on April 2 but could not take off and continue its climb. This showed hesitation among the bulls and even though they managed to push the price to a new all-time high at $2,150 4月に 6 the rally has since stalled.
That may have frustrated the momentum traders who seem to have dumped their positions today, resulting in a drop to the 20-day EMA ($1,904). If the ETH/USDT pair rebounds strongly from the 20-day EMA, それはより低いレベルでの需要を示します.
The bulls will then make one more attempt to drive the price above $2,150. 彼らが成功した場合, the pair could start its journey to the next target objective at $2,618.14.
This positive view will invalidate if the bears sink and sustain the price below the 20-day EMA. Such a move will suggest a possible change in sentiment and that could drag the price down to the trendline.
BNB / USDT
バイナンスコイン (BNB) 強い上昇傾向にあります. The bears tried to pull the price back below the breakout level at $348.69 today but the long tail on the candlestick shows the bulls purchased this dip aggressively.
The rising moving averages and the RSI near the overbought zone suggest the bulls are firmly in command. If the buyers can flip $348.69 サポートに, then the BNB/USDT pair could start the next leg of the uptrend that could take it to $500 その後 $530.
一方, if the price dips below $348.69, it will suggest that higher levels are attracting profit-booking from traders. The bullish momentum may weaken if the bears sink the price below the 20-day EMA ($314).
XRP / USDT
XRP’s breakout above $0.65 4月に 5 completed an inverse head and shoulders pattern, which had a target objective at $1.11. The altcoin met this target on April 6 when it reached an intraday high at $1.11.
Traders who follow technical analysis seem to have booked profits near the target objective, resulting in a sharp pullback today.
The bulls are attempting to stall the correction near the 50% フィボナッチリトレースメントレベル $0.84 as seen from the long tail on the candlestick. If the buyers can sustain the rebound, it will suggest accumulation at lower levels and keep the prospects of a break above $1.11 alive.
一方, if the XRP/USDT pair breaks below $0.84, 修正が深まる可能性があります 61.8% フィボナッチリトレースメントレベル $0.77. Such a deep correction may delay the start of the next leg of the uptrend.
ADA / USDT
カルダノ (有る) attempted an up-move on April 6, but the long wick on the day’s candlestick suggests a lack of demand at higher levels. The bears have latched on to the opportunity today and are attempting to sink the price to $1.03.
The bulls are likely to defend the $1.03 support aggressively. If the price rebounds off this level strongly, the bulls will try to push the price above the moving averages. If they can do that, the ADA/USDT pair could remain range-bound for a few more days.
The flat 10-day EMA ($1.18) and the RSI near the midpoint suggest a balance between supply and demand.
This neutral view will invalidate if the $1.03 サポートクラック. このような場合には, the pair could start its journey toward the support at $0.80 その後 $0.70.
The failure of the bulls to push the price above the all-time high at $146.80 4月に 5 そして 6 could have attracted profit-booking from the short-term traders. That may have pulled Polkadot (ドット) back below the breakout level at $42.28 今日.
ブルズは現在、20日間のEMAを守ろうとしています ($38). If they can achieve a strong rebound off this support, それはより低いレベルでの蓄積を示唆します. The buyers may then make one more attempt to clear the all-time high. 彼らが成功した場合, the DOT/USDT pair could rally to $53.50.
それどころか, a weak rebound will suggest weakness and a lack of urgency among traders to buy aggressively. That will open the chances for the bears to pull the price below the moving averages. それが起こった場合, ペアはに落ちる可能性があります $26.50.
UNI / USDT
ユニスワップ (UNI) attempted to rise above the $32.50 resistance but failed. This shows a lack of buyers at higher levels. The bears are now attempting to sink the pair below the $27.97 に $25.50 サポートゾーン.
彼らが成功した場合, the UNI/USDT pair could start its journey toward the next support at $22 その後 $18.
しかしながら, the flat 20-day EMA ($29.59) and the RSI near the midpoint suggest a balance between supply and demand. If the bulls can defend the support zone, the pair is likely to extend its range-bound action for a few more days.
LTC / USDT
ライトコイン (LTC) 4月に対称三角形の抵抗線を超えた 5 and followed it up with another up-move on April 6 that took the price to the stiff resistance at $246.96.
The failure of the bulls to clear the hurdle at $246.96 may have attracted profit-booking from short-term traders and selling by aggressive bears. That pulled the price down to the breakout level from the triangle today.
If the LTC/USDT pair rebounds off this level aggressively, it will suggest that the bulls are accumulating on dips. The buyers will then make one more attempt to climb the wall at $246.96. 彼らがそれをなんとかすることができれば, the pair could start its journey to $307.42.
それどころか, クマが移動平均を下回る価格を下落した場合, the pair could drop to the support line of the triangle.
チェーンリンク (リンク) 上を壊した $32 4月の抵抗 5 and followed it with another up-move on April 6 but the bulls could not challenge the all-time high at $36.93. This suggests the bears have not given up and are active at higher levels.
The LINK/USDT pair has dipped back below the $32 level today. The bulls are attempting to defend the 20-day EMA ($29.85). If they manage to do that and push the price back above $32 within the next couple of days, それはより低いレベルでの蓄積を示唆します.
The bulls may then again try to propel the price above $36.93. 逆に, クマが移動平均を下回る価格を下落した場合, it will suggest that the recent breakout above $32 was a bull trap. The pair could then drop to $24.
THETA / USDT
After trading in a tight range for the past few days, THETA surged today and attempted to break out of the $14 に $14.96 オーバーヘッド抵抗. しかしながら, the bears thwarted this attempt as seen from the long wick in today’s candlestick.
彼らが成功した場合, the THETA/USDT pair could start the next leg of the uptrend that has a target objective at $17.65 その後 $22.50. 20日間のEMA ($11.13) has started to turn up once again and the RSI has risen above 68, suggesting the momentum favors the bulls.
しかしながら, クマは簡単に諦めそうにない. They will try to stall the uptrend in the overhead resistance zone. 彼らがそれをなんとかすることができれば, ペアはさらに数日間範囲内での滞在を延長することができます.
ここに記載されている見解や意見は著者のものであり、必ずしもコインテレグラフの見解を反映しているわけではありません。. すべての投資と取引の動きにはリスクが伴います. 決定を下すときは、独自の調査を行う必要があります.
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