Welcome to another crypto market outlook for the 26th of April!
With the trade war easing this past week, the crypto market hasn’t been taking a break! It has been surging like there’s no tomorrow, especially with utility tokens. Will this bullish phase last, or will it be short-lived? Let’s find out together.
Today, we will cover the following topics:
– Market Heatmap and Fear and Greed Index
– US500 and DXY
– USDT.D, Bitcoin and Ethereum Analysis
– Quotes / Advices
– Closing Remarks
Market Heatmap and Fear and Greed Index
The monthly candle on almost every chart is looking very bullish, with a large wick to the downside, as the crypto market recovered almost the entire dip during April. It’s also evident from the heatmap that the overall momentum has now turned bullish.
The Fear and Greed Index has shifted to greed for the first time in months, which is something we’ve all been waiting for. Finally, some optimism is on the horizon.
US500 and DXY analysis
As per our last US500 update, it remains overall bullish after rejecting the $5,000 round number and the lower bound of its rising channel.
As long as the bulls hold, a move toward the $6,000 round number is very possible.
Medium-term, the US500 has been bullish, trading within the rising channel marked in red.
As it retests the lower bound of the channel, we will be looking for trend-following longs.
DXY is still struggling within the $99–$100 support zone.
As long as the support holds, the only way from here would be up.
For the bulls to finally take over and defend the $100 support level, a break above the inverse head and shoulders neckline at $100.5 is needed.
USDT.D, Bitcoin, and Ethereum analysis
As per our latest USDT.D analysis, it is still rejecting the 5% support, making it challenging for the crypto market to push any higher.
For the bullish movement in crypto to extend, a break below the 5% level is needed.
In parallel, if the last major high at 5.17% is broken upward, a bearish leg would be expected for crypto.
As per our last roundup article, BTC is still hovering within a make-or-break zone between $90,000 and $95,000.
For the bulls to remain in control, a break above $95,000 is needed. In parallel, if $89,000 is broken downward, a bearish correction toward the $80,000 demand zone would be likely.
Meanwhile, from a medium-term perspective, BTC will remain bullish as long as it continues trading within the rising orange channel.
As BTC retests the lower orange trendline, we will be looking for trend-following longs on lower timeframes.
ETH is approaching a massive rejection zone at the intersection of the two upper trendlines marked in orange and red.
For the bulls to take over long-term, a break above the $2,100 resistance level is needed.
Short-term, as ETH approaches the lower orange trendline and the $1,670 structure, we will be looking for trend-following longs.
Quotes / Advices
Limit your size in any position so that fear does not become the prevailing instinct guiding your judgment.
~ Joe Vidich
Closing Remarks
In summary, the crypto market has regained strong bullish momentum, with monthly candles showing significant recoveries and the Fear and Greed Index shifting to greed for the first time in months.
US500 remains bullish above $5,000, aiming for $6,000, while DXY struggles around its key $99–$100 support zone. A breakout above $100.5 would favor dollar strength.
Meanwhile, USDT.D is holding above 5%, capping crypto’s rally for now.
Bitcoin continues to hover between $90,000 and $95,000, with key breakouts setting the next trend direction.
Ethereum is approaching major resistance, but as long as short-term supports hold, the bias for trend-following longs remains intact.
