Analysts are positive for these 4 altcoins. They also examine the graphs of these cryptocurrencies and determine critical levels. As Kriptokoin.com, we have compiled the altcoin analyzes determined by the traders for you.
Dip buyers are nervous
Bitcoin price is trying to recover over the weekend, but the current bounce is not convincing. This suggests that bottom buyers are nervous about loading ahead of the release of January’s Consumer Price Index data on February 14, as short-term volatility could increase.
While the near term is uncertain, analysts at Delphi Digital think the Federal Reserve will return to a supportive policy later in the year, which could be positive for risky assets.
Those 4 altcoins that analysts are focusing on
MATIC/USDT
Polygon has only seen a shallow pullback over the past few days, which shows that traders are not rushing out of their positions and are buying on small dips. The upward sloping moving averages show that the bulls are in control. The negative divergence in the RSI is a concern, but the failure of the bears to push the price below the 20-day EMA ($1.17) seems to be a positive sign.
This increases the likelihood of a break above the overhead zone between $1.30 and $1.35. If the bulls are successful in their efforts, the MATIC/USDT pair could start higher towards $1.50 and then towards $1.70. The first sign of weakness would be a break and close below the 20-day EMA. This clears the way for a potential drop to $1.05.
The four-hour chart shows that the bears are holding formidable resistance in the $1.30 to $1.35 range, but there is a positive sign that the buyers are not leaving much room for the bears. This indicates that the bulls are expecting a higher move. If they push the price above $1.35, the pair could start the next leg of the uptrend.
If the bears want to take control in the near term, they will need to push the price below $1.20. This could increase the possibility of a drop to $1.05. There is also a minor support near $1.15 but this may not hold.
HBAR/USDT
Most major cryptocurrencies are tracking their recent rallies but Hedera Hashgraph has outperformed in the near term and broke the overhead resistance of $0.08. The 20-day EMA ($0.07) is rising and the RSI is in the overbought zone, showing the bulls dominating. However, the long wick on the February 12 candlestick indicates selling at higher levels.
The HBAR/USDT pair could witness a tough battle near the $0.08 breakout level. If the bulls defend this level and turn it into support, the pair could start a fresh upward move towards $0.11. If this level also scales, the upward move could extend to $0.15. Conversely, if the price breaks below the breakout level, it will indicate that the bears are continuing to sell in the rallies. The pair could then drop to the 20-day EMA.
The four-hour chart shows that traders are taking profits close to the psychological resistance at $0.10. The pair might pull back towards the 20-EMA, which is close to the breakout level. Buyers are likely to buy the drop to this level. If they do, the pair may attempt to climb above $0.10 and continue the upward move.
On the contrary, if the price dips below $0.08, it could trap a few aggressive bulls. This could result in long liquidation and a drop to $0.07 for the altcoin. Deep trimming may delay the start of the next leg of the upward movement.
LDO/USDT
LidoDAO (LDO) has been volatile for the past few days, but there is a positive sign that the bulls are successfully defending the 20-day EMA ($2.32). This shows that sentiment remains positive and traders are buying the dips.
Buyers will then try to push the price up to the solid overhead resistance of $3. This level is likely to attract aggressive selling by the bears because if they allow $3 to be pierced, the LDO/USDT pair could gain momentum and move higher towards $4. The gradually rising 20-day EMA and the RSI in the positive zone indicate that the buyers have an advantage.
On the contrary, if the price drops below the 20-day EMA, this would suggest that the pair could oscillate between $3 and $1.72 for a few days. The price broke below the 50-day SMA. The bears failed to build on this momentum and lower the pair to the $2 immediate support. Buyers bought the dip for $2.20 and pushed the price above the moving averages. Also, the pair could rally to $2.80 and then $3.
Sellers are likely to have other plans. They will try to push the price below the moving averages and retest the support at $2.20. If this level is broken, the pair could drop to $2. Such a move would signal a possible range-bound move for the altcoin in the near term.
BIT/USDT
A few cryptocurrencies have rebounded some of their recent gains, while BitDAO (BIT) managed to stay above immediate support at the 20-day EMA (0.55). This shows that the bulls are in no rush to take profits. The BIT/DAO pair is not out of danger yet because the long wick on the February 11 candlestick indicates that the bears are selling on rallies around $0.60.
The bears will again try to push and sustain the price below the 20-day EMA. If they manage to do so, the pair could extend the pullback to the 50-day SMA ($0.48). Conversely, if the price rebounds from the 20-day EMA, the bulls will try the $0.60 resistance again. A break and close above this level will signal the resumption of the uptrend. The pair could then rally to $0.65 and then $0.69.
The chart shows that the pair is stuck between the $0.54 support and the $0.60 resistance. Both moving averages are flattening and the RSI is near the midpoint, showing an equilibrium between supply and demand.
Generally, a consolidation above critical support is a positive sign, increasing the possibility of a continuation of the up move. If the bulls propel the price above $0.60, the upward move could continue. If the price of this altcoin drops below $0.54, the bears will gain the upper hand. This could open the doors for a possible drop to $0.50 and then to $0.46.
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