WIF, ICP, ADA Price Analysis As Bitcoin Completes 4th Half

• WIF has been overbought, suggesting that the price may fall below $2.70.
• With increasing volatility, the price of ICP could rise to $15 in the short term.
• ADA could return as short-term EMAs indicated a bearish trend.

After the completion of the 4th Bitcoin (BTC) halving, the price of several cryptocurrencies increased. However, there were a few that saw double-digit increases in the last 24 hours. These include dogwifhat (WIF) which increased in value by 11.83%, Internet Computer (ICP) which saw an increase of 14.48% and Cardano (ADA) which increased by 10.55%.

However, it remains uncertain whether these tokens would be able to sustain the increase. Here, Coin Edition looks at the possibilities and how their respective prices could play out over the weekend and in the coming days.

dogwifhat (WIF)

At press time, WIF changed hands for $0.2.83. From the 4-hour chart, the price initially fell to $2.28 on April 18. But the bulls found support at the same spot and helped the meme coin to recover even though there was resistance at $2.70.

Meanwhile, the Relative Strength Index (RSI), which was facing up earlier, turned down. This was a sign that the WIF momentum was losing its bullish power. Therefore, a decline may follow. If that were the case, the price of WIF could fall back below $2.70.

However, if the bulls come back to save the day, the meme coin could target $3 next. This could be confirmed as the value of the Money Flow Index (MFI) has increased. However, if MFI reaches 80.00, the token can be overbought and WIF can be tracked further.

Internet Computer (ICP)

The 4-hour chart of ICP/USD showed a downtrend from April 8-18. However, sellers appeared to run out moments after the price hit $11.87. After that, the direction turned upside down.

At press time, ICP changed hands at $14.48. Further, the Bollinger Bands (BB) widened, indicating increasing volatility around the token. However, the upper band of BB reached ICP above $14, indicating that the token was overbought.

A potential decline could thus be looming. The RSI reading was near 70.00 which strengthened the BB indications. While the ICP price has the potential to reach $15, a retest of $13.14 may also be possible.

Cardano (ADA)

ADA bounced off the $0.44 support and broke the $0.47 resistance as its price almost hit the $0.50 psychological zone. If ADA reaches $0.50, it may rise to $0.56. However, overhead resistance at $0.51 may hamper potential.

Meanwhile, the 20 EMA was charted below the 50 EMA. This suggests that the upward trend in ADA may not last. Moreover, the fact that the 50 EMA was also ahead of the 100 EMA indicated a bearish performance in the coming weeks. Therefore, traders may need to be careful.