Price Predictions for Major Cryptocurrencies on April 23, 2023

Bitcoin is nearing $95,000, supported by strong institutional buying in ETFs, with predictions suggesting a potential rise to $200,000 by 2025. Ethereum, XRP, BNB, and other altcoins show mixed signals, with varying levels of resistance and support impacting their price trajectories. Each cryptocurrency exhibits unique behaviours indicating potential bullish or bearish trends ahead.

On April 23, Bitcoin (BTC) approached the critical $95,000 resistance level, supported by significant institutional fund inflows into spot Bitcoin ETFs, with reports indicating inflows of $381.3 million on April 21 and $912.7 million on April 22. Analysts speculate that, should this momentum continue, BTC could rise to $200,000 by 2025, despite some skepticism about the sustainability of this rally.

Bitcoin’s recent price action showed a Doji candlestick pattern on April 23, indicating market indecision around the $95,000 level. With the 20-day exponential moving average rising and the relative strength index (RSI) approaching overbought conditions, there is potential for a breakout. If BTC surpasses $95,000, analysts suggest targets of $100,000 and $107,000 could be realised.

In contrast, Ethereum (ETH) displayed a sharp reversal on April 22, rising above the 20-day EMA ($1,676). A successful move above the 50-day SMA ($1,830) could see ETH approaching $2,111, with potential to reach $2,550 if that level is surpassed. However, any downturn from $2,111 would indicate bearish activity, possibly leading to a range between $1,368 and $2,111.

XRP’s recent rise above the 50-day SMA ($2.20) indicates bullish intent; however, sellers have shown resistance at higher levels. A breakout above this resistance could push XRP towards $3, while a decline below the moving averages would signal ongoing bearish control, potentially revisiting the $2 mark.

BNB was observed breaking the downtrend on April 21 but encountered selling pressure at higher levels. The potential exists for BNB to drop to supporting moving averages. A rebound from these averages could drive the price toward $644 and then $680, but a fall below the moving averages could confirm a bull trap.

Solana (SOL) bounced off the 20-day EMA ($133) and approached resistance at $153. An upward move above this level could see SOL rally towards $180. For bears to regain momentum, they must drive prices below the moving averages, which would lead to trading in a $110 to $120 region.

For Dogecoin (DOGE), the price surpassing moving averages suggests a bullish comeback, with resistance expected at $0.21. A pullback from this level could lead to trading within the $0.14 to $0.21 range, while a break above $0.21 could see targets set at $0.28.

Cardano (ADA) successfully moved above the 20-day EMA ($0.64) and is striving to hold above the 50-day SMA ($0.68). A close above the latter opens the way for a rally to $0.83. Support is indicated between the moving averages and $0.58.

Chainlink (LINK) rebounded from its 20-day EMA ($13.16) and is above the 50-day SMA ($13.62). A move to $16 seems plausible but requires sustained buying pressure. A break below the 20-day EMA could see LINK drop to $11.89.

Avalanche (AVAX) exhibited a breakout from the downtrend on April 22, with bears attempting to cap the rise at $23.50. If the resistance holds, bulls may accumulate near the 20-day EMA ($19.72), but a decline below that could lead to a range trade between $15.27 and $23.50.

Sui (SUI) surpassed both moving averages and initial resistance at $2.86. Sustained buying could propel SUI towards $3.25 and $3.50, although a breach below the 20-day EMA ($2.29) would indicate weakened bullish momentum.