DOGE, LTC, LINK, APE are in the spotlight as Bitcoin is seeing sideways price action.
) has been range-bound between $5.50 and $9.50 for the past many weeks. The strong rebound off the support at $5.50 on Nov. 21 suggests that bulls are aggressively buying the dips to this level.The 20-day EMA has started to turn up and the RSI has risen into the positive territory, indicating a minor advantage to the bulls. If the price sustains above the 50-day SMA , the likelihood of a rally to $8.50, and thereafter to $9.50, increases.
Another possibility is that the price turns down from $7.50 but rebounds off the 20-EMA. The bulls will then again try to drive the price above $7.50 and start the northward march toward $8.50.) has been consolidating in a large range between $3 and $7.80 for the past several months. The bears tried to sink the price below the support of the range but could not sustain the lower levels. This suggests strong demand at lower levels.Sustained buying pushed the price above the 20-day EMA on Nov.
On the contrary, if the price turns down from the downtrend line and breaks below the 20-day EMA, the pair could again slide to the strong support at $3.The moving averages on the 4-hour chart have started to turn up and the RSI has jumped into the overbought territory, indicating that bulls have a slight edge. The recovery could face resistance at $4 but if bulls do not allow the price to dip below the moving averages, the up-move may reach the downtrend line.
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