Amid a Bitcoin rally, our crypto prediction panel remains neutral overall on six popular cryptocurrencies through the week of April 11.
Bitcoin finally pushed through the strong resistance level at US$45,000, going all the way up to US$48,000. With the price well above US$45,000 for a few days, we may see more gains in the weeks and months to come.
One reason for the sustained move was likely short-sellers covering their positions. As US$45,000 was a major resistance level, meaning more people were selling Bitcoin at that price than buying, the closer the price got to this level the more people sold or shorted Bitcoin.
Once the push above the resistance level was made, short-sellers had to buy Bitcoin to close their positions and selling ebbed, thus fueling the move higher.
Finder’s crypto prediction panel remains bullish on Bitcoin and slightly bullish on Ethereum in the most recent survey looking out through the week of April 11.
Finder’s cryptocurrency prediction panel is made up of 15 experts in the field. Each week, five of them rotate to share their predictions for the following two weeks on six major cryptocurrencies.
Finder’s experts remain neutral overall
Last week our experts turned neutral overall from slightly bearish. This week, the overall sentiment remains neutral.
Where our crypto prediction panel stands
| Bitcoin | Bullish | Bullish |
| Ethereum | Slightly bullish | Slightly bullish |
| Dogecoin | Slightly bearish | Slightly bearish |
| Litecoin | Slightly bearish | Slightly bearish |
| XRP | Slightly bearish | Neutral |
| Solana | Slightly bullish | Neutral |
| Overall | Neutral | Neutral |
The panel’s outlook on Bitcoin (BTC) is bullish, the same as the week before. After the push to US$48,000, we may see a slight pullback to US$45,000, the new support level. But chances are high we could see more gains ahead.
The move higher was also partly due to Do Kwon’s pledge to buy US$10 billion worth of Bitcoin. Do Kwon is the CEO and founder of Terraform Labs, the company behind the Terra (LUNA) network and the UST stablecoin.
The panel’s verdict on Ethereum (ETH) is slightly bullish, the same as the week before. Ethereum bounced off the US$3,500 price level. To make new gains, the price has to break through this price level and hold above it.
The panel’s outlook on Dogecoin (DOGE) is slightly bearish, the same as the week before. Pulled higher by Bitcoin, DOGE briefly touched US$0.15, a strong resistance zone, and pulled back to US$0.14.
The panel’s prediction on Litecoin (LTC) is slightly bearish, the same as the week before. Litecoin made some gains along with most altcoins. The price managed to break through major moving averages, but we need a break of US$150 to see a significant move higher.
The panel’s outlook on Ripple (XRP) is slightly bearish, a change from the week before when it was neutral. Despite SEC’s lawsuit coming to an end, XRP’s price follows Bitcoin’s lead, reaching the resistance level of US$0.9 and slightly pulling back.
The panel’s verdict on Solana (SOL) is slightly bullish, a change from the week before when it was neutral. Solana gained almost 40% in the past few weeks but it still needs to take out US$125 and close above it to make way for new highs. Failure to break through could mean a pullback to US$100.
Finder’s experts hold long-term bullish sentiment on Bitcoin
Finder asked 33 fintech specialists in January to offer price predictions for Bitcoin by year’s end. Most of them believe Bitcoin will reach all-time highs at the end of 2022.
To learn more about our experts’ outlooks on cryptocurrency prices, start with our Bitcoin price prediction page, then see our price prediction pages on Ethereum, Solana, Litecoin, Ripple and Dogecoin.
Disclaimer:
This information should not be interpreted as an endorsement of cryptocurrency or any specific provider,
service or offering. It is not a recommendation to trade. Cryptocurrencies are speculative, complex and
involve significant risks – they are highly volatile and sensitive to secondary activity. Performance
is unpredictable and past performance is no guarantee of future performance. Consider your own
circumstances, and obtain your own advice, before relying on this information. You should also verify
the nature of any product or service (including its legal status and relevant regulatory requirements)
and consult the relevant Regulators’ websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
At the time of publication, Kliment Dukovski owned several cryptocurrencies.