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Cryptocurrency News Articles

Bitcoin (BTC) Price Prediction and Analysis April 13: BTC Bulls Aiming to Reclaim $100K as Market Cap Surges

Nov 21, 2024 at 07:20 pm

The bulls are in control of today's session, as seen from the increase in the global market cap. The total cap stood at $3.19T as of press time

Bitcoin (BTC) Price Prediction and Analysis April 13: BTC Bulls Aiming to Reclaim $100K as Market Cap Surges

World’s leading cryptocurrency prices saw mixed changes on Friday evening, with Bitcoin failing to post gains amid a broader market rally. At the same time, Ethereum, Bitcoin Cash, Bitcoin SV, and eCash prices rose during the last 24 hours.

In particular, BTC’s price slipped by 0.08%, while ETH’s price rose by 0.29%. At the same time, BCH’s price increased by 17.59%, BSV’s price rose by 10.63%, and XEC’s price went up by 7.08% over the last 24 hours.

The global cryptocurrency market cap stood at $3.19 trillion as of press time, showing a 2.68% increase over the last 24 hours, while the trading volume jumped by 13.12% over the same period to stand at $203.4 billion.

Bitcoin’s price trades at $97,530 after a 4.26% increase over the last 24 hours. BTC’s 4-hour chart shows that the price is trading above all key moving averages (50, 100, 200 SMA), indicating strong bullish momentum. The 50 SMA ($91,220) is substantially above the 100 SMA ($84,570), which is above the 200 SMA ($76,637). This alignment is a classic bullish trend.

Moreover, we see that the Volume Delta is increasing, and green volume bars suggest rising buying pressure, confirming the uptrend.

Next, Ethereum’s price trades at $3,139 after a 0.29% increase over the last 24 hours. ETH’s 4-hour chart shows that the price is testing the upper Bollinger Band ($3,185), indicating strong bullish momentum but also overbought conditions. The middle band ($3,117) serves as dynamic support.

On the other hand, we see that the Awesome Oscillator (AO) is confirmed by green bars in the AO, but declining histogram heights suggest a potential slowing of upward momentum.

Moving on, Bitcoin Cash’s price trades at $521.52 after a 17.59% increase over the last 24 hours. BCH’s 4-hour chart shows that the green (lips), red (teeth), and blue (jaw) lines are expanding and aligned bullishly, confirming upward momentum.

Moreover, we see that the Money Flow Index (MFI) is at 79.62, indicating overbought conditions and the possibility of a short-term pullback.

Later, Bitcoin SV’s price trades at $76.50 after a 10.63% increase over the last 24 hours. BSV’s 4-hour chart shows that the green (lips), red (teeth), and blue (jaw) lines are expanding and aligned bullishly, confirming upward momentum.

On the other hand, we see that the Money Flow Index (MFI) is at 79.62, indicating overbought conditions and the possibility of a short-term pullback.

Finally, eCash’s price trades at $0.00004853 after a 7.08% increase over the last 24 hours. XEC’s 4-hour chart shows that the price is well above the cloud, signaling a strong bullish trend. The future cloud (Senkou Span A and B) is bullish, supporting further upside.

Moreover, we see that the ADX (Average Directional Index) is at 24.79 suggests a moderately strong trend, which could strengthen further.

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