Binance master executive officer Changpeng Zhao said that trading activity across major crypto exchanges had increased between three to five times. This is a bullish sign as it "ways at that place are a lot more people coming into the industry." While quantitative easing and fresh coin coming into cryptocurrencies is a positive development, the bull run might non start immediately. All the same, in the long run, as the supply of fiat currency increases, Zhao said that "mathematics volition eventually work" as Bitcoin is a limited asset.

In the short-term, Bitcoin's halving is an of import result that tin can increment the volatility. PlanB,the creator of the stock-to-flow (S2F) Bitcoin price model  expects the price action to follow the model. If that happens, Bitcoin's price could embark on a huge bull run following the halving in May. Withal, if the price action does not follow the model, PlanB has said that he would discard the model.

Daily cryptocurrency marketplace performance. Source: Coin360

Grayscale's ten crypto funds had their best quarter on record with an inflow of $503.7 meg, according to the latest quarterly report released by the company. The company said that 88% of the investments were carried out by hedge funds. This shows that even during the current uncertain times, investors are flocking to cryptocurrencies. Grayscale'southward Bitcoin Trust now holds almost i.seven% of the available supply of Bitcoin.

The fundamentals of the sector are improving and the long-term looks even more than positive. Yet, the brusque-term looks uncertain due to the ongoing crunch. Let'due south wait at the major cryptocurrencies and analyze whether they are likely to resume their uptrend or enter into a correction once again.

BTC/USD

The breakdown from the bearish rising wedge pattern has not resulted in a sharp fall. Though Bitcoin (BTC) dipped below the 20-twenty-four hours EMA ($half-dozen,827) on Apr 15, the bears could non sustain the lower levels.

BTC USD daily nautical chart. Source: Tradingview

On Apr 16, the BTC/USD pair rallied from a low of $6,471.71 and broke above the 50-day SMA ($6.997), which shows strong demand at lower levels.

The bears might present resistance at $vii,454.17 but if this level is crossed, the uptrend is probable to resume. The first target is a motility to $8,000, then a rally to $ix,000 is possible.

Contrary to our supposition, if the bulls neglect to propel the price in a higher place $vii,454.17, the pair might remain range-bound for a few days. The trend volition turn negative on a break below $6,471.71 and traders can trail their stop loss on the long positions to $six,000.

ETH/USD

Ether (ETH) finally broke above the fifty-day SMA ($161.52) on April 16, which is a positive sign. If the buyers can push button the biggest altcoin to a higher place $176.103, the momentum is probable to pick up.

ETH USD daily nautical chart. Source: Tradingview

Higher up $176.103, the ETH/USD pair can rally to $208.50 and then to $250. The gradually upsloping 20-24-hour interval EMA and the RSI in the positive territory likewise suggests that the bulls have the upper paw.

Our bullish view volition be invalidated if the pair turns downwards from the electric current levels and plummets below $148. For now, the cease loss on the long positions can be maintained at $135. The stops can exist trailed to $145 subsequently the pair closes (UTC fourth dimension) above $177.

XRP/USD

XRP dipped beneath the xx-twenty-four hours EMA ($0.185) on April 15 simply rapidly reversed direction on the next solar day and scaled above the 50-solar day SMA ($0.186). This is a positive sign as it indicates need at lower levels.

XRP–USD daily chart. Source: Tradingview

The bulls volition at present try to carry the price to $0.20570 where the bears might again mount a strong resistance. If the XRP/USD pair turns downwards from this level, it might remain range-bound for a few more than days. The flattish twenty-twenty-four hours EMA and the RSI just above the fifty level as well signal to a few days of consolidation.

However, if the bulls can propel the pair higher up $0.20570, a rally to $0.25 is probable. Conversely, the pair will turn negative on a break below $0.15708. For now, the stops on the long positions tin be maintained at $0.155.

BCH/USD

Bitcoin Greenbacks (BCH) bounced from just to a higher place the psychological support of $200 on April 16. This is a positive sign every bit it shows that the bulls are unlikely to give up without a tough fight.

BCH–USD daily nautical chart. Source: Tradingview

Currently, the buyers are facing resistance at the 50-day SMA ($242). If the bulls can propel the toll to a higher place this level, a movement to $280 is likely. Once $280 is overcome, a rally to $350 will exist on the cards.

Conversely, if the toll turns downward from the current levels, the BCH/USD pair might again dip to $200. A break below this level will tilt the advantage in favor of the bears. Therefore, the traders tin protect their remaining long positions with the stops beneath $197.

BSV/USD

Bitcoin SV (BSV) dipped below both the moving averages on Apr xvi but turned around from $172. Both moving averages are close to one some other and the RSI is just in a higher place the midpoint, which suggests a balance between buyers and sellers.

BSV–USD daily chart. Source: Tradingview

The bulls volition now try to carry the price to the overhead resistance at $227. If the BSV/USD pair turns downwards from this level, it is probable to remain range-bound between $227 and $170 for a few more than days.

On the other hand, if the bulls tin scale the cost above $227, a rally to $268.842 and so to $319.424 is possible. The pair will turn negative on a pause beneath $170. Therefore, the stops on the long positions can be maintained at $165.

LTC/USD

Litecoin (LTC) reversed management from $37.8768 on April 16, which shows that the bulls continue to buy the dips. If the buyers can propel the altcoin higher up the $43.67-$47.6551 resistance zone, the momentum is probable to pick upward.

LTC–USD daily chart. Source: Tradingview

The xx-day EMA is flattening out and the RSI is close to the midpoint, which suggests a residuum betwixt the buyers and sellers.

If the LTC/USD pair turns down from $43.67, it is likely to remain range-bound for a few more days. The pair volition turn negative on a intermission below $35.8582. Therefore, the stops on the long positions tin can be retained at $35.

EOS/USD

On Apr sixteen, EOS bounced from $2.3371, which shows that the bulls are attempting to course a college loftier closer to $2.4001. The altcoin is likely to pick up momentum on a shut (UTC time) to a higher place $2.8319.

EOS–USD daily chart. Source: Tradingview

The 20-day EMA ($2.50) has flattened out and the RSI is only above the midpoint, which suggests that the bulls are attempting to gain the upper hand. The levels to watch on the upside are $3.1802 and above it $three.8811.

However, if the EOS/USD pair turns downwards from the current levels, it volition be a negative sign. For now, the stops on the long positions tin be retained at $2 but can be trailed higher to $2.25 later on the pair sustains higher up $3.20 for 4 hours.

BNB/USD

Binance Money (BNB) once again took support and bounced off the 20-day EMA ($fourteen.25) on Apr 16. This is a positive sign as it confirms that the 20-day EMA has flipped from resistance to support.

BNB–USD daily chart. Source: Tradingview

The moving averages are on the verge of a bullish crossover and the RSI is trading in the positive territory, which shows that bulls take the upper hand. The momentum is probable to pick upwardly on a close (UTC time) above $16.

Though $17.v might act equally a resistance, we expect this level to exist crossed. The next level to watch on the upside is $21.50. Therefore, the stops on the long positions can exist maintained at $13.

Opposite to our supposition, if the BNB/USD pair turns down from the current levels, it might remain range-bound for a few more days. The pair will plow negative on a break beneath $xiii.47.

XTZ/USD

Tezos (XTZ) rebounded sharply from the twenty-day EMA ($1.90) on Apr 16, which is a positive sign. If the bulls can now push button the price in a higher place the immediate resistance at $two.1850, a rally to $2.75, followed past a move to $ii.98 will exist on the cards.

XTZ–USD daily nautical chart. Source: Tradingview

The moving averages are on the verge of a bullish crossover and the RSI has also risen from shut to the midpoint. This suggests that bulls have the upper hand.

If the bulls fail to scale the price above $2.185, the XTZ/USD pair might remain range-jump for a few more than days. The pair volition turn negative on a break below the immediate back up at $1.8271. The traders can trail the stops on the long positions to $1.75 subsequently the pair sustains above $2.2 for four hours.

LINK/USD

Chainlink (LINK) rebounded sharply from the moving averages on April 16, which is a positive sign. This shows that the bulls are smashing to buy on dips to strong support levels.

LINK–USD daily nautical chart. Source: Tradingview

The moving averages have completed a bullish crossover and the RSI continues to trade in the positive territory, which suggests that bulls are in control. If the LINK/USD pair tin break higher up $3.6412, a move to $4.9762 is possible.

Though the bears might mount a stiff resistance at $4.2023, we expect this level to be crossed.

Alternatively, if the price turns downward from $three.6412, the pair might remain range-bound for a few more days. Our bullish view will exist invalidated if the bears sink the pair beneath the moving averages.

The views and opinions expressed hither are solely those of the writer and do not necessarily reflect the views of Cointelegraph. Every investment and trading movement involves gamble. You should conduct your own research when making a decision.

Market place data is provided by HitBTC exchange.