BNB, SOL, XRP, ADA, DOGE, SHIB Price Analysis: April 10

Cryptocurrency prices over the last few days have been locked in a battle between bulls and bears. At some point, the values of these assets jumped. But most have been short-lived as bears keep rejecting the bullish recurring attempts.

Here is a look at the prices of some of the top cryptocurrencies.

BNB/USD

For the past few days, bulls have resolved to send Binance Coin (BNB) to $600. But the 4-hour analysis revealed that all those efforts have been futile. For instance, when the price increased from $551 on April 3, it could only get to $596 as bears enforced the resistance.

On Monday, April 8, a similar thing occurred. According to signals from the Relative Strength Index (RSI), bulls were making efforts to hit the $600 psychological area. Should the RSI reading climb past the midpoint, the BNB might have a shot again.

On the other hand, failure to improve buying momentum might send the price down to $5.16. Meanwhile, the Supertrend showed a buy signal at $571. Therefore, accumulation at this point could be profitable in the short term.

SOL/USD

For Solana (SOL), it has been a struggle to rise back to $200. At press time, the price of the token was $172.61. However, the MACD was negative, indicating a bearish momentum that could foreshadow a lower price.

Should bulls fail to arrest this decline, SOL might have no other option than to nosedive. If this is the case, a fall to $161.63 could be next. Conversely, a bullish bias for the token might create an upswing to $191.26.

In addition, the Chaikin Money Flow (CMF) was also negative, indicating that the price might not recover significantly in the short term.

XRP/USD

Since hitting $0.75 in March, XRP has failed to revisit the region. As of this writing, XPR changed hands at $0.61 with a notable resistance at $0.64. In the short term, it does not seem like XRP would climb past $0.64 considering the state of the EMAs.

At press time, the 9 EMA (blue) and 20 EMA (yellow) were almost at par, indicating that bulls and bears had similar strengths. As such, the price of the token might swing between $0.58 and $0.62 going forward.

ADA/USD

Cardano (ADA) sellers got exhausted on April 5, leading to a bounce to $0.62 a few days later. However, the token was unable to hold on to the price as it dropped again. At press time, the Cardano native token was back to $0.58, suggesting a dearth of buying pressure.

With this trend, and the one displayed by the RSI below, ADA might face further downsides. From a bearish point of view, the price of the token could drop to $0.53. However, if ADA gets oversold one more time, a rebound could occur, which could trigger its value to reach $0.60.

DOGE/USD

Dogecoin started April on a bad note, as its price plummeted from $0.22 to $0.16. Although it has encountered a bit of recovery, it has not been solid enough to keep the meme coin under bearish control.

DOGE changed hands at $0.19 at press time. However, the AO reading was negative, indicating that the coin’s momentum might continue to decline. In a case like this, the value of the token might drop back to the $0.16 support. But if bulls come to its rescue, DOGE might be able to recover to $0.20 for a start.

SHIB/USD

SHIB peaked at $0.000030 on April 1 but that increase was short-lived. At press time, the SHIB/USD chart displayed bearish signals as sellers returned to prevent bulls from challenging the $0.000029 resistance.

Should bulls fail to overcome the bearish bias, then SHIB’s price could head down to $0.000026. Meanwhile, the Average Directional Index (ADX) was down to 19.76, indicating that the downtrend might soon be over.

Should this be the case, the price of the token might extend as high as $0.000039, as the Fibonacci extension showed.