Ethereum(ETH), Bitcoin, Doge, BNB, EGC: Price Analysis for April

There are now 19 crypto billionaires according to an update to the Forbes crypto rich list. When the list launched in 2018, the threshold was $350 million – now it’s a billion, and there have been seven more editions this year.

One caveat: All crypto billionaires are founders or associated with crypto projects and exchanges. For example, Binance CEO and founder Changpeng “CZ” Zhao is the richest man in the industry with an estimated $96 billion, and he is now the 19th richest person in the world.

While becoming a billionaire is not a likely investment goal for crypto traders, it was around this time last year that CBS News reported 100,000 newly minted Bitcoin millionaires. If Bitcoin or even hundreds of altcoins can hit another record high in 2022, there is always a chance of a good return on investment.

Here we will look at the price analysis of Bitcoin, Ethereum, EverGrow Coin, Dogecoin and BNB.

Bitcoin (BTC)

Bitcoin has lost -2.75% in price in the past 24 hours. It has fallen from a local high of $48,000 to a price of $45,400 on April 6. This is a worrying move for Bitcoin bulls who hoped BTC would break its 200-day SMA, currently at $48,277.

Nevertheless, Bitcoin is still in bullish territory with its 20-week SMA at $43,884 and its 21-week EMA at $44,294. Bitcoin broke past these key indicators at the close of weekly trading on March 27. The next two candles were in the red with fuses brushing both the 200 SMA and 21 week EMA.

If Bitcoin can find support for current prices, this would be a strong indication of a new bull market in April 2022.

Ethereum (ETH)

Ethereum is down 4.93% in price in the past day and 1.56% in the past week. ETH is currently valued at $3,358.

Ethereum’s growth prompted it to start trading above the 200-day SMA this week, currently at $3,489. Last week, Ethereum closed out trading with a large green candle, while Bitcoin closed the week in the red. There is now a buzz around Ethereum as it plans to switch to a new consensus mechanism that should lower gas tariffs and speed up the network.

Ethereum will have to sustain current prices as it threatens to move below the 20-week SMA, currently at $3,268.

EverGrow Coin (EGC)

EverGrow Coin is up 2.5% so far from local lows in April and has growth potential as a crypto newcomer with unique utility drops this month. The token price of EGC is $0.000000428514 and with a market cap of $230 million, it is this type of project that can see rapid growth for investors.

EverGrow Coin has announced the rollout of a new NFT marketplace on the BNB Chain, which will also enable NFT lending for the first time. NFT owners can put their assets as collateral in exchange for crypto loans. It is a unique mechanism that will attract new users who want to generate passive income from NFTs without selling them.

With a metaverse integration planned for the end of 2022 and a new content subscription platform called Crator coming soon, EverGrow Coin is one to watch for investors.

Dogecoin (DOGE)

Doge has grown 7.7% in the last 24 hours, which is another 12.4% growth in a week. DOGE got a boost on Monday when documents revealed that Elon Musk had become the largest Twitter shareholder. This gave Dogecoin a boost because of its popularity with the CEO of Tesla (you can charge a Tesla in Santa Monica with DOGE), but also because it could see the meme coin added to Twitter payments.

DOGE this week it broke above its 20-week SMA at $0.1529 and its 21-week EMA at $1,607. It is currently trading at $0.1619. Yesterday, Dogecoin nearly passed its 200-day SMA at $1,831 but quickly fell back to hold the support at $0.16.

BNB

BNB is down 2.8% today after three weeks of green candles. BNB is currently trading at $441.2 which is above the 21-week EMA ($433.4) but unable to break the 20-week SMA at $452.9.

BNB appears to be trading sideways this week and has not come close to the 200-day SMA at $468.5. BNB’s 24-hour trading volume is also lower than its closest rival LUNA, which has a market cap of $41 billion compared to BNB’s $72.9 billion.

BNB will need to maintain its current level and keep pushing higher to hit a new all-time high, as it did in early May last year when it hit $690.

Share this article

Do that thing to share

About the author

More info about author

Analytics Insight


Analytics Insight is an influential platform dedicated to insights, trends and opinions from the world of data-driven technologies. It tracks developments, recognition and performance of companies in the fields of artificial intelligence, big data and analytics around the world.

More by Analytics Insight

Related Posts

Leave a Reply

Your email address will not be published.