Welcome to our latest crypto market outlook for April 16th!
Investors have been on their toes and closely following Trump’s tweets over the past couple of weeks. While the final decisions on tariffs are still pending, here are five altcoins currently on my watchlist: LAYER, RIO, NEO, RARE, and UNI.
Today, we will cover the following topics:
– BTC Analysis
– 5 Altcoins Analysis
– Quotes / Advices
– Closing Remarks
BTC analysis
As mentioned in our last market outlook, BTC is still approaching a major intersection zone.
From a macro perspective, BTC will remain overall bullish as long as it holds above the lower blue trendline and the $68,000 support level.
For the bulls to take over and shift the overall trend in their favor, a break above the $90,000 structure marked in red is needed.
Meanwhile, BTC remains bearish in the medium term, trading within the falling orange channel.
5 Altcoins Analysis
RARE has been rejecting a strong demand zone and the $0.05 round number.
As long as $0.05 holds, the only direction from here is up.
For the buy setup to be activated and target the $0.1 round number, a break above the range at $0.076 is needed.
Meanwhile, RARE would remain stuck within a tight range.
RIO has also been hovering within a weekly demand zone around the $0.1 round number.
As long as this support holds, a bullish correction towards the $0.5 resistance level is expected.
Medium-term, on the daily timeframe, RIO has been overall bearish, trading within the flat wedge pattern marked in red.
For momentum to shift in favor of the bulls, a break above the last major high at $0.235 is needed.
As per our last market outlook, LAYER has been one of the top-performing altcoins over the past couple of months.
Its overall trend remains bullish, while most altcoins have been recording new lows.
As it retests the previous all-time high at $1.67 and the lower green trendline, we will be looking for trend-following long opportunities.
As mentioned in our last youtube outlook, NEO is hovering around a make-or-break zone.
As long as the $5 support and round number holds, the bulls still have a chance to step in.
For the bulls to fully take over and start a correction phase towards the upper orange trendline, a break above the $6 round number is needed.
UNI has also been rejecting a strong support zone between $3.5 and $4.5.
As UNI dips into this zone, we will be looking for medium-term long setups on lower timeframes, targeting the $7 resistance level.
Medium-term, UNI is still bearish, trading within the falling red channel.
For the bulls to kick in, a break above the upper red trendline and the $5.75 level is required.
Meanwhile, further downside is expected within the weekly support zone.
Quotes / Advices
Your biggest enemy as a trader is yourself.
~ Alexander Elder
Closing Remarks
In summary, this week’s market outlook highlights BTC approaching a crucial intersection zone, with bullish momentum intact above $68,000 but requiring a break above $90,000 to confirm a macro shift.
Among altcoins, RARE and RIO are showing potential rebounds from strong demand zones, with clear breakout levels to watch.
LAYER continues to outperform, maintaining its bullish trend despite broader market weakness.
NEO is sitting at a pivotal support, while UNI offers potential long opportunities from its weekly demand zone but remains bearish in the medium term unless key resistances are broken.
