Price analysis 4/28: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

cointelegraph.com:

The cryptocurrency market witnessed sharp volatility on April 26 on rumors that large sums of Bitcoin (BTC) were on the move from the wallets linked to the defunct cryptocurrency exchange Mt. Gox and the United States government. A minor positive is that Bitcoin and select altcoins held their respective support levels.

After Bitcoin’s sharp rally in 2023, some traders seem to be planning to book profits. Coinglass reported that the Bitcoin balance held at Binance soared by 50,000 Bitcoin in the past 30 days.

While this could add to short-term pressure, bulls can take solace because the increase is not identical across exchanges. Coinglass said that the aggregate increase of Bitcoin balance across exchanges was 14,000 Bitcoin.

The next major event for the market is likely to be the U.S. Federal Reserve’s meeting on May 2 and 3. The FedWatch Tool projects a 90% probability of a 25 basis point rate hike in the meeting. Most analysts expect this to be the final rate hike before a pivot later in the year.

Could Bitcoin and select altcoins break above their respective resistance levels and resume the up-move? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin formed a long-legged doji candlestick pattern on April 26, indicating indecision among the bulls and the bears about the next directional move. This uncertainty resolved to the upside with a close above the 20-day exponential moving average ($28,619) on April 27.

The bears will try to pull the price back below the 20-day EMA while the bulls will attempt to flip the level into support. If buyers succeed, the BTC/USDT pair will try to challenge the overhead resistance zone between $31,000 and $32,400. This zone is likely to witness a tough battle between