With Bitcoin (BTC) regaining its place at the $ 60,000 mark, the current battle between bulls and bears is on an equal footing and the bulls are actively taking over the defense of the important support level of $ 60,000.
Traders appear to be waiting for BTC to trigger its all-time high (ATH) of $ 61,781. If the bulls manage Bitcoin above its previous all-time high of $ 61,781, it will trigger an upward momentum for the cryptocurrency. It can also serve to drive DODO and Zcash (ZEC) higher, as altcoins have traditionally risen in parallel with Bitcoin waves.
At the same time, Coinbase will be listed directly on the Nasdaq on April 14th. A successful listing will boost the upward momentum across the cryptocurrency market and attract more traditional investors to get started.
When Coinbases $ COIN shares fall on debut On April 14th, BTC, DODO and ZEC could face a possible headwind. Investor indifference to Coinbase’s listing can even result in the bears gaining the upper hand across the crypto market as a whole. However, this situation is unlikely to occur at this time.
Bitcoin (BTC) Price analysis
source：BTC / USD daily via TradingView
Bitcoin surged above the $ 61,000 resistance level on April 10 and hit a maximum of $ 61,222.22, a short scream from its all-time high.
However, it seems that the cops are still not active enough. They tried again over the weekend to retest the $ 61,000 psychological barrier with no success. This shows that investors are still very hesitant about price levels. High prices and uncertainty about future trends can make investors reluctant to actively buy.
At the time of writing, the price of Bitcoin had not yet closed above $ 60,000 and is trading at $ 59,785. This shows strong resistance for the bears.
The MACD index stagnated for a brief period while trading volume contracted, demonstrating the reluctance of bulls and bears. This suggests that the price of Bitcoin may still trade sideways at around $ 60,000 for a while.
The stochastic RSI indicator has entered the overbought zone, indicating that a high-level bearish crossover may be forming in the future. The bears are currently trying to bring the price down to a 20 exponential moving average of around $ 57,780. A strong rebound from support levels increases the possibility of breaking $ 61,785.
In this case, the BTC / USD currency pair can begin the next segment of the uptrend, allowing BTC to rise to USD 70,000. However, if Bitcoin is experiencing a downtrend, then $ 55,600 is the first major level of support to look out for. If the bulls fail to defend this important level of support, it will be the first sign of a trend reversal for Bitcoin and the cryptocurrency can test the USD 51,326 support level.
DODO price analysis
Source: DODO / USDT Daily via TradingView
DODO is a decentralized liquidity aggregator service supported by the Proactive Market Maker (PMM) that supports the best price exchange between tokens through intelligent routing.
Yesterday a long bullish candle holder made the price of DODO regain the exponential band of the moving average. This sparked a new round of uptrends for DODO and increasing trading volume that deserves investor attention.
If the bulls can push the crucial close above $ 5.68, the bullish momentum could cause DODO to hit its all-time high of $ 10.
Both the upward moving average and the bullish MACD suggest that the bulls are currently dominating the market.
The stochastic RSI entered the overbought zone, which is the bearish side of the oscillator. When a large number of sell orders are triggered, DODO / USDT tests the USD 4.18 support level. If the bulls fail to defend $ 4.18, the positive bullish sentiment for DODO will fade.
Zcash (ZEC) price analysis
Source: ZEC / USD Daily via TradingView
Zcash (ZEC) is a cryptocurrency that is said to offer its users improved data protection compared to other cryptocurrencies such as Bitcoin and Ethereum.
The Zcash blockchain gives users the ability to either view or hide their transaction details. Zcash is currently number 47 in the largest cryptocurrency with a market capitalization of $ 2,718,955,341. In the past 7 days it has increased by 24.88%.
Zcash is still a long way from its peak of $ 2,175. However, it has rallied strongly since early 2021, rising from $ 57 to $ 236, an increase of more than 400%.
From March 26th until today, ZEC has grown steadily. The ZEC / USD transaction price is much higher than the Exponential Moving Average band. Although there was a retracement on April 6th and 7th, the ZEC has rallied strongly and initiated a new round of uptrends.
Both the upward moving average and the bullish MACD indicate that tThe short-term trend remains optimistic.
The stochastic RSI shows that ZEC is approaching the 80 overbought levels. There may be minor corrections in the next few days. However, this correction is needed for ZEC to continue rising healthily.
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