Bitcoin falls below its 50-day moving average into a downtrend

Tin Tức Crypto • 2022/04/11 • bởi

Bitcoin / US Dollar

The bearish momentum over the weekend has succeeded in bringing the Bitcoin market below its 50-day moving average of $41,933, depicting a market in a downtrend.
The 9th of April sees bullish momentum resulting in a 1.19% growth in the Bitcoin price, bringing its value to $42,766 per coin.
Following the bullish action of the previous day, we see the bears influence a 1.41% drop in the market, offsetting the gains of the previous day and bringing the Bitcoin price to $42,165 per coin.
At the start of the 11th of April, we see continued bearish action, resulting in a 2.31% decrease in the Bitcoin price, translating to $41,190 per coin, with the highest and lowest trading prices seen standing at $42,424 and $40,913, respectively.

Indicators

The Bitcoin RSI has fallen into bearish territory ( below the 50 mark), indicating the bears are dominating the immediate market momentum.
The RSI on the 9th, 10th, and 11th of April stands at 45, 43, and 40, respectively. The histogram shows increasing bearish entry into the market as it is placed below the zero line, while the MACD remains above the zero line but with increasing bearish momentum, means the bears are gaining a hold on the market.

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Ethereum / US Dollar

On the 9th of April, the bulls started a momentum after flipping an initial bearish start to the market indicated by the wick below the candle. With the above, the bulls influenced a 2.08% rise in the ETH price, bringing the price of each coin to $3,258. On the 10th of April, bearish action caused a 1.72% drop in the ETH price, translating to $3,203 per coin.
At the start of the 11th of April, the bears are seen continuing previous momentum with the early lead, resulting in a 4.41% drop in the ETH price, translating to $3,061 per coin.

Indicators

The relative strength index of the ETH market has fallen into the beearish territory as the RSI stands below the 50 mark.
On the 9th, 10th, and 11th of April, the bearish activity in the market resulted in the relative strength index falling, corresponding to 54, 51, and 45, respectively.
The histogram shows increasing bearish activity as it has fallen below the zero line, while the MACD is placed above the zero line, indicating bullish dominance of the market momentum, also reflecting the recent bearish action as it deflects downwards.

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Ripple / US Dollar

On the 9th of April, the bulls flipped an initial bearish market as indicated by the wick below the candle, and With the continued bullish dominance of the day, the XRP market rose by 0.92%, bringing the assets price to $0.761 per coin. On the 10th of April, the bearish action resulted in a 0.93% drop in the XRP price, translating to $0.754 per coin.
At the start of the 11th of April, the continued bearish momentum resulted in a 5.54% drop in the Ripple market, bringing the price of each asset to $0.712 per coin. With the market still in its early hours, more volatility is expected in the day.

Indicators

On the 9th of April, the bullish action resulted in a rise of the RSI to 42. With the bearish action on the 10th and 11th of April, we see a fall in the relative strength index to 40 and 34, respectively, reflecting increasing bearish activity in the market.
The histogram and the MACD remain in bearish territory (below the zero line),portraying a negative outlook for the asset.

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Litecoin / US Dollar

The bulls gained a hold on the market on the 9th of April, resulting in a 1.78% gain, bringing the LTC price to $112 per coin.
On the 10th of April, the bearish action saw the Litecoin market fall by 2.17%, translating to $110 per coin. On the 11th of April, the LTC market sees continued bearish activity, placing the market 4.89% lower, translating to $104 per coin, with the highest and lowest price points at $110 and $104, respectively.

Indicators

The relative strength index chart shows that the LTC market has fallen into bearish control as the value stands below the 50 mark.
On the 9th the bullish action resulted in the RSI rising to 43, while on the 10th and 11th of April, the bearish action resulted in a fall of the RSI to 40 and 36, respectively.
The histogram and MACD portray a market now in bearish grasp as they stand below the zero line, creating a negative outlook for the market.

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Bitcoin Cash / US Dollar

On the 9th of April, the bulls initiated a momentum that saw the Bitcoin Cash market rise by 0.83%, bringing the asset's price to $326 per coin. On the 10th of April, we see the bears respond to the previous bullish action, resulting in a 1.88% drop in the market, placing the Bitcoin Cash price at $319 per coin.
At the start of the 11th of April, we see bearish action, resulting in a 5.01% drop in the Bitcoin Cash price to $303 per coin. The Bitcoin Cash market has fallen below its 50-day moving average of $325, reflecting bearish market control.

Indicators

The bullish action on the 9th of April resulted in a rise of the relative strength index to 42, and the bearish activity on the 10th and 11th of April resulted in the fall of the RSI to 40 and 35, respectively.
The histogram and MACD portray a market in bearish grasp as they stand below the zero line, creating a negative outlook for the market.

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Cardano / US Dollar

On the 9th of April, the bulls responded to the previous bearish momentum, resulting in a 2.03% drop in the market, bringing the ADA price to $1.045 per coin. On the 10th of April, significant bearish action saw the ADA price drop by 1.71%, bringing its price to $1.027 per coin.
At the start of the 11th of April, the bears continued their momentum from the previous day, resulting in a 6.60% drop, translating to $0.959 per coin. With the market still far from its close, the above value is likely to change. Nevertheless, as of the writing of this piece, the highest and lowest ADA prices stand at $1.032 and $0.957, respectively.

Indicators

On the 9th, 10th, and 11th of April, significant price action sees the relative strength index fluctuate, corresponding to 64, 67, and 68, depicting growing bullish activity in the market. Sustained bullish action could see the ADA market enter the overbought scenario if its RSI gets above the 70 mark.
The histogram and MACD are placed above the zero line, indicating bullish dominance of the market momentum.

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Dogecoin / US Dollar

On the 9th of April, the bulls initiated a momentum, resulting in a 1.19% increase in the Dogecoin price, translating to $0.144 per coin. The highest and lowest Dogecoin trading prices for the day stood at $0.144 and $0.140, respectively.
With significant bullish action on the 10th of April, the Dogecoin market increased by 2.70%, translating to $0.148 per coin.
At the start of the 11th of April, we see significant bearish action, resulting in a 4.59% drop in the Dogecoin price, bringing its price to $0.141 per coin, with the highest and lowest trading prices standing at $0.151 and $0.139, respectively.

Indicators

On the 9th, 10th, and 11th of April, the RSI stands at 53, 55, and 51, depicting a market still in bullish control despite significant bearish action on the 11th of April.
The MACD stands well above the zero line, indicating bullish dominance. However, the histogram deflects below the zero line, indicating bearish control of the market momentum on the 11th.