The following are key points.
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Bears will likely resist any rise above the current levels.
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BTC and some altcoins may see range bound action over the next few days.
Bitcoin) is a currency that has been adopted by the US stock markets.BTCAltcoins and cryptocurrencies are trying to climb back from Friday’s steep drop following Donald Trump’s speech. announcement of a 100% tariff on China.
It was a brutal and traumatic fall. 24-hour liquidation of about $20 billionCoinGlass data shows that a number of highly leveraged traders, who lacked proper risk control, would have suffered massive losses. Without proper risk management, several highly leveraged traders would have suffered massive losses.
It has also cleared out the excess froth, which will allow stronger investors with a longer-term perspective to take advantage of dips. A rebound is underway, but it may take some time for a rally to get out of control.
Timothy Peterson, an economist at Cointelegraph told the publication on Sunday that BTC would likely enter the mainstream. “cooling off period” Three to four weeks before resuming its uptrend, albeit “at a slower pace than before.”
Can BTC and altcoins capitalize on the recent recovery or will higher values attract sellers? Find out by analyzing the charts for the 10 most popular cryptocurrencies.
S&P 500 Index price prediction
The S&P 500 Index (SPX) turned down sharply and broke below the 20-day exponential moving average (6,652) on Friday, indicating profit-booking by traders.
The bulls bought the dip below the simple moving-average (SMA) for the last 50 days (6,538). Now they have pushed up the price until it reaches the exponential moving-average (EMA) for the next 20 days. The bears may try again to lower the index below 50-day SMA if the price drops sharply after the 20-day EMA. They could succeed in causing the index to fall to 6,350 or even 6,200.
If the price ends above the EMA of 20 days, this may signal that the correction is over. This index could then return to its historic high of 6,764.
US Dollar Index price prediction
The US Dollar Index DXY closed higher than the moving averages Tuesday, signaling a loss of control by the bears.
On Thursday, the bulls were able to push the price over the downward trend line. However, they have not been able to maintain the momentum. It is likely that sellers will try to lower the price to below the 20-day EMA (97.26), a short-term critical level.
The possibility of a breakout above 100.50 increases with a strong bounce from the 20-day EMA. It could climb up to the level of 102.
A close below moving averages indicates that markets rejected the breakout above the downward trend line. This index could then drop to the level 97, and eventually to the strong support of 96.21.
Bitcoin price prediction
Sellers were not able to close BTC below $107,000, preventing them from completing a double top pattern.
Bitcoin dropped below $102,000 Friday. However, it quickly recovered, which indicates that buying is possible at lower prices. BTC/USDT is likely to be sold at $116,955, the Fibonacci level for 61.8% of the price retracement.
The pair may rally to an all-time record high of $126.199 if the buyers are able to overcome the resistance.
If the price drops sharply below the current level it will likely find support around $109,500, and then $107,000. It is expected that buyers will fiercely defend $107,000 because breaking below it could lead to a crash below $100,000.
Price prediction for Ether
Sellers pull EtherETHThe occurrence of the pattern was below that on Saturday and Friday but the levels were not able to be sustained.
The Ether rate climbed into the channel again on Sunday. It indicates a solid demand in lower levels. Bears will try to push the pair ETH/USDT below the channel if price falls sharply. They may succeed in indicating that the pair has reached its peak.
This assumption is incorrect. If the price moves above the moving averages, this signals that the pair could remain in the channel for some time. Breaking and closing above the resistance level increases the chances that the trend will resume.
BNB price prediction
BNBBNBThe price of ) experienced significant fluctuations in recent days. The price fell below the 20 day EMA ($1,145). On Saturday, the bulls regained the level.
It suggests that the market is positive, and dips in price are viewed positively. BNB’s price soared to an all-time record of $1375 on Monday but bulls struggle to maintain the high levels. It is a sign of selling during rallies.
The bears are going to try and strengthen their positions by bringing the price below the EMA of 20 days. It would be a sign of a temporary top if they were able to pull the price back below the 20-day EMA.
The bulls will remain in command if, on the other hand, the price continues to rise and close above $1350. BNB/USDT could then rise up to $1 609.
XRP price prediction
It is a cryptocurrency that allows you to buy and sell XRP.XRP( ) finished a bearish triangle set-up on Friday, and fell well below its pattern target of 1,72 dollars.
Positively, the XRP rate has recovered strongly from its $1.25 bottom. This indicates aggressive purchasing at lower prices. It is anticipated that the relief rally will reach the 20 day EMA ($2.77) where bears may step in. If price falls below the 20-day EMA the XRP/USDT pairs could drop to $2.20 then $2.
To signal a recovery, the bulls need to push the price over the downward trend line. Up until then, rallies will likely be bought into.
Solana price prediction
Solana (SOL() dropped below the ascending pattern of the channel on Friday. This indicates that the bears have taken over.
They did not abandon hope and continued to buy the dips at $168. The SOL/USDT pair then began a strong recovery, which pushed it to the breakout level of the channel.
Related: XRP rebounds 66% from price crash, regaining $75B in market value
It is a sign of a negative sentiment if the price drops and falls below $168. It increases the chances of a decline to $150.
After the bulls push Solana above moving averages, they will return to the game. This pair may then move up to the $260 overhead resistance.
Dogecoin price prediction
Dogecoin sellers pull out (DOGE() on Friday, but failed to close the day below this level.
Dogecoin has rebounded sharply, and the price is back to its large range between $0.14 and $0.29. The bulls are going to try and push the price towards the 20-day EMA, ($0.23). This could bring in sellers. The DOGE/USDT could fall to $0.18, then $0.16 if the price drops below the 20 day EMA.
After the pair closes at $0.29, or $0.14, the next move in trend could start. The pair will likely oscillate within the range until then.
Cardano price prediction
Cardano (ADAThe price of, which is currently trading at $0.27 per share, plunged below its descending channel on Friday.
Bulls have been buying at lower levels, pushing the price up to the breakout level of the channel. The sellers are likely to be active in the area between the resistance line and 20-day EMA (0.78).
Cardano’s price dropping sharply after the resistance zone indicates that bears are still in charge. The ADA/USDT pairing could fall to $0.60 or even to $0.50.
In the short term, this negative outlook will be nullified if price rises and crosses above resistance.
Hyperliquid price prediction
On Friday, Hyperliquid (HYPE), completed a heads-and-shoulders formation and sank to its goal of $11.
Solid buying at lower levels has pushed the price back to the neckline of the H&S pattern, where the bears are expected to mount a strong defense. Sellers will attempt to lower the HYPE/USDT pairs below the support of $35.50, if price drops from neckline. The Hyperliquid price may fall to as low as $30.50 if they are successful.
The buyers are more likely to be thinking about other things. They may try to drive the price higher than the moving averages. This could indicate the end of the corrective phase.
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Source: cointelegraph.com
