Striking Predictions for Bitcoin, DOGE and These 8 Altcoins Have Arrived!

Let's take a look at the next technical levels for DOGE, ETH, AVAX, BTC and 6 altcoins. Is it time for consolidation in the market? Here are the details...
 Striking Predictions for Bitcoin, DOGE and These 8 Altcoins Have Arrived!
READING NOW Striking Predictions for Bitcoin, DOGE and These 8 Altcoins Have Arrived!

As the cryptocurrency market intensifies its upward price movements, data provided by Santiment shows that only 10.87% of the total supply remains on centralized exchanges. Is it time for a minor correction or consolidation? Let’s take a look at the technical analysis of Bitcoin, DOGE, ETH, SOL, ADA and 5 altcoins to answer…

What happened in the cryptocurrency market?

The whales don’t seem to be worried about the Bitcoin (BTC) price bottoming out. Coin Metrics data shows that whale addresses holding at least 1,000 Bitcoins have accumulated over the past few days. The total supply of these addresses increased from 7.95 million Bitcoins on January 24 to 8.096 million on February 10. Another sign that investor sentiment may turn positive is stablecoins’ crypto exchange balances hitting over $27 billion for the first time, according to on-chain analytics platform CryptoQuant. In contrast, Bitcoin reserves on exchanges continued to fall, suggesting that investors are hiding their funds.

Although Bitcoin is closely associated with US equity markets in the short term, Zhu Su, co-founder of the Three Arrows Capital (3AC) hedge fund, believes their performance will be different in 2022. Zhu thinks that Bitcoin and Ethereum (ETH) could be long-term candidates while the S&P 500 is a short candidate. After the recent recovery in the bitcoin and altcoin market, is it time for a minor correction or consolidation? Rakesh Upadhyay, whose analysis we share as Kriptokoin.com, answers…

BTC, DOGE, ETH XRP and SOL analysis

Bitcoin fell from the general resistance to $ 45,456 on February 10 and the bulls are trying to defend this level aggressively. It shows that it continues. A minor positive is that the bulls are not allowing the price to drop below the 50-day simple moving average (SMA) ($42,427).

This indicates that the bulls are trying to turn the 50-day SMA into support. The ascending 20-day exponential moving average (EMA) ($41,317) and the RSI in the positive zone point to a slight advantage for buyers. If the price bounces off the current level, Bitcoin bulls could make another attempt to push it above $45,456. If successful, the bullish momentum could increase and BTC could rally to $48,000 and later to $52,088. Contrary to this assumption, if the price drops from the current level or $45,456, the bears will take their chances and try to push the pair below the 20-day EMA. If that happens, the next stop is $39,600.

Ethereum (ETH)

Ethereum broke and closed above the 50-day SMA ($3,171) on February 9, but the bulls failed to develop this strength. The price returned below the 50-day SMA on February 10, suggesting that the bears are attempting to trap the aggressive bulls.

A positive sign, however, is that the bulls are not allowing the price to return to the channel. If the price bounces back from the 20-day EMA ($2,959), buyers will again try to push the ETH/USDT pair above the general hurdle. The zone between the 50-day SMA and $3,400 could act as a major resistance. If the buyers break this hurdle, the pair will be set to start a new bullish move. Contrary to this assumption, if the price re-enters the channel, it will indicate that sentiment will remain negative and investors are selling on rallies. The pair could then decline to the critical support at $2,652.

Binance Coin (BNB)

Binance Coin (BNB) is struggling to break above the downtrend line of the descending channel. This shows that the bears are defending the resistance with all their might.

The 20-day EMA ($410) and the RSI near the midpoint suggest a balance between supply and demand. If the price breaks below the 20-day EMA, it will increase the likelihood that the BNB/USDT pair will stay within the channel for a few more days. The pair could decline to $390 first and then continue its downside move to $357.40. Conversely, if the price bounces back from the current level, the bulls will make another attempt to push the pair above the channel and the 50-day SMA ($448). If they are successful, the BNB price could gradually increase to $500.

Ripple (XRP)

Ripple (XRP) is witnessing profit selling after the last rally. The price could decline to the $0.75 breakout level where buyers could step in to stop the decline.

The ascending 20-day EMA ($0.73) and the RSI in the positive zone suggest the bulls have prevailed. Buyers will now try to defend the support at $0.75. If the price bounces back from this level, buyers will try to push the XRP/USDT pair back above $0.92 and push the psychological resistance at $1. This bullish view will be invalid in the short term if the price breaks below the 20-day EMA. Such a move could open the doors for a drop to $0.65.

Cardano (ADA)

Cardano (ADA) has repeatedly failed to break above the 50-day SMA ($1.22) over the past few days, indicating that the bears are fiercely defending this level. Sellers will now try to push and sustain the price below the 20-day EMA.

If they succeed, the ADA/USDT pair could drop to the critical support at $1. This is an important level for the bulls to defend because a break below it and closing could intensify the sale. The pair could reach $0.80 later. On the technical side, the moving averages have flattened out and the RSI is near the midpoint, suggesting a balance between supply and demand. If the price bounces off the current level and rises above the 50-day SMA, the pair could rally to the resistance line of the descending channel. A break and close above this level will signal a positive change in trend.

Solana (SOL)

Solana (SOL) turned from overhead resistance at $116 and reached below the 20-day EMA ($111) on Feb. 10. This shows that sentiment remains negative and bears are selling on rallies to resistance levels.

SOL/USDT pair could now slide to $94 and then strong support at $80.83. This is an important level for the bulls to defend, as a break and close below it could signal a resumption of the downtrend. The pair may then drop to the support line of the channel. The first sign of a trend change will occur on a break and close above the resistance line of the channel. Such a move could signal the start of a possible new uptrend. The pair could rally to $157.80 later.

Terra (LUNA)

The bulls have repeatedly failed to push Terra (LUNA) price above the 20-day EMA ($57.80) over the past few days, suggesting the bears are aggressively holding the level. is showing. Hence, this becomes a key resistance to watch on the upside.

The falling 20-day EMA and the RSI in the negative territory suggest that the bears have the upper hand. If the price stays below $54.20, the LUNA/USDT pair could drop to the strong support at $43.44. This negative view will be invalidated if the price breaks out of the current level and rises above $60.64. The pair could then rise to the downtrend line of the descending channel where the bears could pose a strong challenge for buyers again.

Avalanche (AVAX)

The downtrend line is proving to be a formidable hurdle for the bulls to cross. This indicates that higher levels continue to attract selling by the bears. If Avalanche (AVAX) breaks below the 50-day SMA ($87), a drop to the 20-day EMA ($80) is possible.

If the price returns from the 20-day EMA, it will indicate that investors are buying on the dips. The bulls will then try to push the price back above the downtrend line and start a new uptrend. If they manage to do so, the AVAX/USDT pair could rally to $117.53. Conversely, if the price breaks below the support zone between the 20-day EMA and $75.50, it will indicate that sentiment remains negative and traders are selling on rallies. The pair could decline to $64.85 later on.

Polkadot (DOT)

Polkadot (DOT) broke below the 20-day EMA ($20.96) on Feb. 10 and closed; This suggests that the bears are aggressively defending the resistance zone between $22.66 and the 50-day SMA ($23.75).

The flat moving averages and RSI below 46 suggest that the bears have a slight advantage in the short term. If the price stays below the 20-day EMA, the DOT/USDT pair could hit the strong $16.81 support. If the price bounces back from this support, the pair could continue trading in the range for a few more days. Contrary to this assumption, if the price rises from the current level and rises above the 50-day SMA, it will signal that the bears may be losing their advantage. The DOT price could then start its upward move at $28.

Dogecoin (DOGE)

Dogecoin (DOGE) stumbled again at the 50-day SMA ($0.15) on February 9 and 10, showing that the bears are defending this resistance aggressively. On the technical side, both moving averages are flattening and the RSI is near the midpoint, suggesting range-bound action in the short term. If

DOGE price breaks below the 20-day EMA ($0.15) and continues, traders who bought the last drop can close their positions. This could push DOGE price towards the strong support zone of $0.10 to $0.12. Instead, if the price rises above the current level, buyers will make another attempt to push the pair above the overhead resistance at $0.17. If they succeed, the DOGE bulls will attempt to push the price higher to $0.22.

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