Are Crypto Prices Set to Soar?
Crypto prices are back in motion as the total market cap pushes toward a critical resistance zone. After weeks of sideways action and weak conviction, the charts are finally showing renewed signs of life. As of today, the total crypto market cap sits at approximately $2.64 trillion, hovering near key moving averages. But with momentum building, investors are asking: is the market preparing for a breakout toward $3 trillionor another fakeout?
What Does the Daily Chart Say About Crypto Prices?
On the daily timeframe, the crypto total market cap has climbed back above the 20-day SMA ($2.62T) and is challenging the 50-day SMA ($2.71T)a key resistance area that held back previous breakout attempts. A successful daily close above this level could open up the path to the 100-day SMA at $3T, which represents the next major psychological and technical milestone.
The Heikin Ashi candles are showing strength again after a series of flat-bodied consolidations, suggesting that the bulls are beginning to regain control. The ADL (Accumulation/Distribution Line) has also started to rise from its recent low of 1,574.28, signaling renewed investor interest and capital inflow across the broader market.
While the 200-day SMA still lingers above at $2.91T, a strong reclaim of the 50-day average could act as the launchpad for a sustained rally. Overall, the daily chart is cautiously bullish, but volume confirmation remains key.
Does the Hourly Chart Support a Breakout Scenario?
Zooming into the hourly chart, the crypto prices recently made a strong move from $2.54T to $2.65T, testing and briefly holding above the 200-hour SMA. However, it has since pulled back slightly to $2.63T, a minor dip of 0.57%, indicating short-term profit-taking.
The price remains above the 20-, 50-, and 100-hour SMAs, and these averages are starting to fan upwardan early sign of trend strength. If the market can defend the 2.602.61T range during the next pullback, it would confirm that bulls are ready to step in at higher levels.
The hourly ADL has also recovered to 1,303.02, reinforcing the idea that recent gains werent just speculationthey were backed by real buying interest. As long as this structure holds, the path of least resistance remains upward.
Are Macro and Sentiment Trends Aligning With Technicals?
The technical bounce is being supported by improving sentiment in the broader macro space. Talks of altcoin ETFs, positive regulatory shifts in some U.S. states, and Bitcoins resilience above $70K are helping drive market confidence.
Additionally, stablecoin inflows are rising, suggesting that fresh capital is entering the market, often a precursor to a wider rally. Traders and institutions seem more willing to re-enter risk assets, and the total market cap is the most direct reflection of this renewed interest.
However, not everything is green just yet. Volume on breakout attempts remains moderate, and a high-volume daily close above $2.71T is still needed to confirm a trend shift. Without it, the current move could risk stalling into more range-bound price action.
Whats the Forecast for the Coming Days?
If momentum holds and the crypto prices manages a solid breakout above the 50-day SMA, a quick push toward $2.85T$3T is not off the table. This would likely coincide with bullish breakouts in major altcoins, Ethereum strength, and meme coin rallies gaining steam again.
Conversely, if resistance around $2.65T holds and price drops below $2.60T, we could see a short-term dip toward $2.52T, where the 100-day SMA sits as support on the hourly.
In short, the next few candlesespecially on the daily timeframeare critical. Crypto prices are hovering near a breakout point, and how the market reacts this week will set the tone for the rest of April.
Should You Buy or Sell Now?
At the current levels, the crypto prices are hovering near a key breakout zone, making this a pivotal moment for traders. For long-term investors, this could be a strategic buy-the-dip opportunity, especially if the market confirms support above $2.60 trillion. Momentum is gradually building, and the charts suggest bulls are attempting to flip resistance into support. However, for short-term traders, caution is still warranted until theres a clear breakout above $2.71T with strong volume. Without confirmation, entering aggressively could lead to whipsaw losses. If youre already holding positions, this may be a good time to tighten stop losses or take partial profits while watching for confirmation of the next leg.
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Read more: https://cryptoticker.io/en/are-crypto-prices-set-to-soar/
Text source: CryptoTicker
