Bitcoin (BTC) and Altcoin Market Outlook: Price Predictions for April 2021

The last few days of March have brought a sharp decline to the crypto market. The rising tariffs set by President Trump for April 2 along with strong core PCE data, have triggered a severe market drop.

The last few days of March have seen a sharp decline in the crypto market. This comes as President Trump is set to announce the rising tariffs from April 2, and strong core PCE data triggered a severe market drop.

As March draws to a close, the cryptocurrency market is poised to end the month with a series of setbacks, marking the second consecutive month of declines. This development places traders in a crucial spot as they navigate the upcoming week.

The question on traders' minds is whether the market will recover from its recent lows or sink further in April.

Bitcoin and Altcoin Market Declined Strongly

March saw the cryptocurrency market suffer a notable decline, with its total value dropping by 4.3%, from $2.79 trillion to $2.67 trillion. Bitcoin followed this trend, shedding 4.4% of its value during the same period.

Also read: Bitcoin Nears Worst Q1 Close Since 2018: Will Bearish Metrics Push BTC Price Below $80K?

Meanwhile, Ethereum (ETH), the leading altcoin, experienced a significant slump, with its price plummeting 21% in March. There was a hope for a comeback in the third week when the Ripple vs. SEC case was dismissed. However, despite this, XRP struggled to capitalize on the momentum and is closing the month on a downward trajectory.

Bitcoin Price Prediction

Bitcoin recently dipped below the EMA20 level, which pushed its price down to around $81,644. Now, buyers are trying to push it back up towards the ascending resistance channel.

On the flip side, the bears are looking to keep the price under the key support level of $83,000. If successful, Bitcoin could drop further to $81,000 next week, and possibly even to $80,000. However, buyers are likely to put up a strong fight to keep the price within the $76,700 to $80,000 range.

For a bullish signal, the price needs to climb and stay within the resistance zone. If Bitcoin closes above the 50-day simple moving average at $86,000, it could set off a recovery towards $90,000. Should buying momentum continue, we might see it reach $95,000 in April.

Ethereum Price Prediction

Ether recently faced rejection at the EMA20 level and is now testing the immediate support line. Sellers are aiming to push the ETH/USDT pair down to the support zone at $1,772.

However, buyers are gearing up to strongly defend this level, as falling below it could lead to a continuation of the downward trend, potentially reaching as low as $1.5K.

To indicate a shift in momentum, buyers need to drive the price above the descending resistance line. Successfully doing so could send Ether towards $2,109, setting the stage for a bullish April with the potential to reach $2.5K.

XRP Price Prediction

XRP is experiencing increased volatility just below the EMA20 trend line, with neither buyers nor sellers able to establish a clear direction from the $2 mark.

Bears are aiming to push the price down to the $2 support level, but buyers are prepared to defend it vigorously. A break below $2 would form a bearish head-and-shoulders pattern, potentially sending the XRP/USDT pair down to $1.8—a level that could be breached easily, leading prices to drop further toward $1.3.

Conversely, if XRP manages a strong rebound from the $2 support, it could remain confined within a triangular pattern for some time. A successful defense could position the bulls to drive the price above $2.5.