Price analysis 4/21: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LINK
On April 21, the US Dollar Index (DXY) dropped below 98, reaching a three-year low, which boosted gold prices and created opportunities for Bitcoin. Arthur Hayes predicts a possible Federal Reserve announcement that could propel Bitcoin's prices significantly. The S&P 500 Index (SPX) faced resistance at the 20-day EMA, with the 5,119 level as a crucial support; below this, the index could drop further. Bitcoin surged toward a critical resistance level at the 200-day SMA ($88,238) and could rally if surpassed. Ether remains in a downtrend, struggling to break above key resistance levels. XRP has shown signs of weakening bearish momentum, potentially moving toward higher resistance levels. BNB has broken its downtrend, signaling a possible rally, while Solana is climbing toward resistance, and Dogecoin shows reduced selling pressure. Cardano is attempting to maintain support above the 20-day EMA, with potential resistance identified at the 50-day SMA. Chainlink is testing its 50-day SMA, with the possibility of momentum if this level is cleared.
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