Tezos, Swipe, and KAVA technical analysis reveal coins retracing from 2021 highs propped by determined bulls soaking sell pressure. XTZ/USDT and SXP/USDT are cents way from 2021 highs, while KAVA prices may find support and shake off bears.
The new way of consensus is what the crypto trading community needed, and so much is pinned on Tezos as far as long-term XTZ/USDT price prediction reads.
Thus far, the XTZ price is up, trading at new 2021 highs. The path of least resistance has been northwards for the better part of the year. This provides lucrative opportunities for traders, sifting through various Tezos price analysis pieces.
As of writing, the XTZ price is firm from a top-down approach, sliding four percent on the last day. At the same time, volumes are falling, dropping 19 percent to $517 million in the past 24 hours.
XTZ/USD Price Analysis
As of writing on Apr 15, the XTZ price is changing hands at $6.57.
The uptrend is valid despite yesterday’s losses.
Notice that XTZ/USDT prices are trending inside the Apr 9 bull bar, a net positive from an Effort-versus-Results point of view. What’s more, after Apr 9 bar, subsequent trading volumes have been relatively lower.
Provided prices are trending above immediate support at $6, every low may present a loading opportunity for aggressive Tezos traders.
On the other hand, a sharp and comprehensive close above Apr 9 highs of $7.2 may see pump Tezos bulls as XTZ price race to $8.1—the 1.618 Fibonacci extension level of the Q1 2021 trade range.
Spending crypto has been challenging until Swipe happened. It is adopted as price action, and several Swipe price forecasts reveal.
As the crypto tide rose, the SXP benefited immensely, shooting to new 2021 highs.
By Apr 15, Swipe buyers were still in control, absorbing sell pressure and laying the foundation for a possible trend resumption.
SXP/USDT Price Prediction
SXP trading volumes are up 46 percent to $547 million.
However, SXP prices are stable during the same time, falling marginally versus ETH.
Still, the SXP/USDT price is within a bullish breakout.
Despite shocks of the last two weeks, the retracement is with relatively low trading volumes. Besides, the middle BB is positively slanting and acting as flexible support within an SXP/USDT breakout.
Reaction at $4.1—in a retest, could determine the short-term trend. If SXP bulls fail to arrest determined sellers as prices break below the 20-day moving average as trading volumes spike, SXP may fall to $2.5—the 38.2 Fibonacci retracement level of the Q1 2021 trade range.
On the reverse side, resounding support forming a double-bar bullish reversal pattern builds the base for gains towards $6.3—the 1.618 Fibonacci extension level of the Q1 2021 trade range.
Cross-chain DeFi is the future. The Kava protocol exemplifies efforts being made in crypto to make this a reality.
Accordingly, traders are brimming with confidence, predicting that the Kava price will, in the long-term, shoot to new all-time highs.
On Apr 15, the KAVA price is under pressure, printing lower albeit with low participation. Trading volumes are stable, rising to $64 million on the last day.
KAVA/USDT Price Forecast
The KAVA price is paring losses week-to-date, stabilizing at 1.6 percent.
Still, the good news for KAVA bulls is that prices are oscillating within tight ranges, and bears have no conviction.
Skirting Q1 2021 highs, KAVA bull trend continuation depends on a firm close above $7. In that case, the KAVA price may edge higher towards $9.9—the 1.618 Fibonacci extension level, as buyers take charge.
However, if KAVA/USDT prices print lower today, odds of even more dumps below the main support trend line towards $4 would be high.
Accordingly, traders may find entries to load the dips or wait for a clear trend before committing as KAVA races to $10—or unexpectedly dump to $4.
Chart courtesy of Trading View
Disclaimer: Opinions expressed are not investment advice. Do your research.
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