The following are key points.
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Bitcoin is still under pressure. The downside could accelerate if $65,118 is breached.
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Many altcoins have attempted a recovery but bears still remain buyers on rallies.
BitcoinBTCBulls are trying to keep the price over $67,000 but bears continued to apply pressure. The bulls can take heart from the fact that some analysts think BTC has bottomed out.
In a recent post, Jelle, an analyst at X, said that, except for one, all of BTC’s major bottoms have formed between the simple 200-week moving average ($58.371) and 200-week moving exponential average ($68.065). BTC nearing the 200 week EMA is a sign that BTC may be about to bottom. bottom formation process may have begun.
Matrixport stated in a posting on X, that BTC may be making a durable bottom. Matrixport says that when its 21-day moving mean of daily sentiment indicator starts rising and dips under zero, that indicates the exhaustion of selling pressure. The readings don’t necessarily rule out an immediate decline, but they do indicate that BTC is approaching another turning point.
Ohsung Kwon, an analyst at Wells Fargo, made another positive prediction for BTC. Kwon stated in an email seen by CNBC that tax refunds could result in additional savings for consumers. flow into equities and BTCBring back the “YOLO” trade.
BTC, and other major altcoins, could they overcome resistance levels above? We’ll find out by analyzing the charts for the 10 most popular cryptocurrencies.
Bitcoin price prediction
BTC’s price has made higher lows over the last few days, but bulls failed to take it above $74,508 – the previous breakdown.
The buyers are expected to try again to break through the resistance above the 20-day EMA (72,282) or the $74,508 mark. The BTC/USDT may reach the 50-day SMA (83,129) if they are successful.
Other plans are possible for sellers. The sellers will try to pull Bitcoin below $65,118, the support level at the moment. The pair could fall to solid support of $60,000.
Prediction of Ether prices
Ether has been maintained by the bulls (ETHIf you buy on the dip, your price will rise above $1,897.
The buyers will try to break through the hurdle of the 20-day EMA (2,183). The ETH/USDT may begin a more aggressive recovery towards the 50-day SMA (2,707) if they are successful.
If the Ether rate turns downwards and falls below $1,897 it indicates that the bears have taken control. It is possible that the pair will drop down to $1,750. The $1,750 support level is expected to be protected by buyers with their lives, since a break below this could bring the pair down to $1,537.
XRP price prediction
The XRP currency (XRP) has been trading just below the 20-day EMA ($1.52), indicating that the bulls continue to exert pressure.
This increases the chances of a breakout above the 20 day EMA, and also the $1.61 breakdown level. The XRP could then rise to the SMA 50 days ($1.80), which would indicate that the USDT/XRP pair will remain within the channel.
To indicate that a short-term trend could change, buyers will have to push the price up above the downtrend. If the price falls and drops below the line of support, it could lead to a more serious fall.
BNB price prediction
BNBBNBThe price of ) has traded in a small range in the past couple days. It signals indecision by the bulls.
The downtrend will resume if the BNB falls below $570. BNB/USDT could then continue to decline towards the psychologically important level of $500.
To indicate the reduction of selling pressure, buyers will need to maintain and push the price higher than the 20-day EMA (676 dollars). It is possible that the pair will then rise to $730, and then to $790.
Solana price prediction
Solana (SOL() faces resistance at the $95.95 breakdown level, indicating the bears’ activity on higher levels.
The bears are going to try and strengthen their positions by pulling Solana below $76. The bears will try to strengthen their position by pulling the Solana price below the $76 support. They may then try to retest their low from February 6, which was $67.
To signal a recovery, buyers will need to get over the $95 ceiling hurdle. The SOL/USDT may rise to the 50 day SMA ($116) where sellers will mount a solid defense.
Dogecoin price prediction
DogecoinDOGE) has been trading just below the 20-day EMA ($0.10), indicating a lack of selling at lower levels.
It increases the chances of a rise above the EMA. This pair of DOGE/USDT may climb up to the 50 day SMA ($0.12), and then continue on upwards. The sellers will try to stop the recovery of the Dogecoin at $0.12, but the bulls can push the price to $0.16 if they overcome resistance.
If the price drops from $0.12, this suggests that a range could form in the short term. It is possible that the pair will fluctuate from $0.08 to $0.05 for several days.
Bitcoin Cash price prediction
Bitcoin CashBCH( ) is stuck in between moving averages. This indicates uncertainty regarding the direction of the next move.
A possible breakout to the upside is indicated by the upsloping EMA (20-day) ($547), and the RSI (just above midpoint). The Bitcoin Cash price could rise to $600-$630 if that occurs.
This assumption is incorrect. If the price drops and the EMA 20 days breaks, then it means that the bulls are no longer in control. The price could then begin a move towards $500, the next major support.
Related: 4 data points suggest XRP price bottomed at $1.12: Are bulls ready to take over?
Hyperliquid price prediction
Hyperliquid (HYPE) closed below the 20-day EMA ($30.26) on Tuesday, indicating selling at higher levels.
The buyers are likely to try and keep the Hyperliquid’s price above the 50 day SMA ($27.74), however, if the sellers lose out the HYPE/USDT could fall toward the stable support of $20.82. The relatively flattish 20 day EMA, and the RSI at the midpoint of the chart suggest that the price will remain between $20.82-35.50.
Close above $32.50 will be the first signal of strength from the bulls. The rally could reach the $38,42-35,50 resistance level.
Cardano price prediction
Cardano (ADA) has been clinging to the 20-day EMA ($0.29), indicating that the bulls have kept up the pressure.
There is a high probability of a breakout above the 20 day EMA. The ADA/USDT may then climb towards the downward trend line which will act as a strong resistance. Cardano’s price could rise to $0.44, then $0.50 if buyers penetrate the downward trend line.
The sellers must pull the price down below the resistance line in order to gain control. The pair could fall to $0.15 if they succeed.
Monero price prediction
Monero (XMR( ) is still below the $360 breakdown level, but it’s a good sign that bulls did not allow the price to fall below $309 immediate support.
The buyers must push Monero’s price over the 20-day EMA (currently $366) to win. The 50-day SMA is expected to be reached by the XMR/USDT pairs.
A break-through and close under the $309 mark indicates the bears are still in charge. It is possible that the pair will then test $276, a key support. If the pair makes a strong bounce off of $276, it could result in range bound action for several days.
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Source: cointelegraph.com
