From the LBank blog.
In recent days, the cryptocurrency market has seen considerable fluctuations. Bitcoin (BTC) welcomed a 10% increase on Wednesday, with its price soaring to nearly $30,000.
However, due to the news released early Thursday morning, the price experienced a sharp drop with significant intraday volatility. After a period of price adjustment, the market has now recovered to above $29,000.
As April comes to an end, the market is anticipating better trading opportunities in May following the interest rate hike news.
The BTC 4-hour chart shows that after the recent significant fluctuations, the price has stabilized above $29,000, with the expectation that the market will continue to oscillate upward.
The ETH 4-hour chart indicates a relatively weaker price for Ethereum, as it continues to oscillate in the lower range with a significant number of trapped investors.
If the market continues to be bullish, it needs to absorb the selling pressure from these trapped investors.
Notable Altcoins
The ID token has emerged as the biggest winner among new coins in this market cycle, with a maximum adjustment of around 40%.
The current 4-hour chart shows a potential bottom and a rebound trend is expected. The market is expected to rise to around $0.9, making it suitable for buying on dips.
The LTC 4-hour chart demonstrates that Litecoin has rebounded to its previous breakout platform.
The overall trend remains bullish, and a significant increase is expected in May, making it an ideal time for a breakout buy.
In conclusion, the cryptocurrency market has experienced notable volatility in recent days, but promising opportunities lie ahead, particularly for Bitcoin, Litecoin, and the newly released ID token.
Investors should closely monitor market movements and make informed decisions to capitalize on potential gains.
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Disclaimer: The opinions expressed in this blog are solely those of the writer and not of this platform.
This article came directly from the LBank blog, found on https://lbank-exchange.medium.com/april-28th-market-analysis-from-lbank-derivatives-9724f429973e?source=rss-87c24ae35186——2
