Bitcoin and altcoin prices are range-bound at the moment, but technical analysis suggests that bulls are attempting to flip key breakout levels into support.
After the recent recovery in Bitcoin and altcoins, is it time for a minor correction or consolidation? Let’s study the charts of the top-10 cryptocurrencies to find out.Bitcoin turned down from the overhead resistance at $45,456 on Feb. 10, indicating that bulls continue to defend the level aggressively. A minor positive is that bulls have not allowed the price to break below the 50-day simple moving average .This indicates that bulls are attempting to flip the 50-day SMA into support.
If the price bounces off the current level, the bulls will make one more attempt to push the BTC/USDT pair above $45,456. If they succeed, the bullish momentum could pick up and the pair may rise to $48,000 and later to $52,088. Contrary to this assumption, if the price turns down from the current level or from $45,456, the bears will fancy their chances and attempt to pull the pair below the 20-day EMA. If that happens, the pair could drop to $39,600.Ether broke and closed above the 50-day SMA on Feb. 9, but the bulls could not build upon this strength. The price turned back below the 50-day SMA on Feb. 10 which suggests that bears are attempting to trap the aggressive bulls.
The zone between the 50-day SMA and $3,400 could act as a major roadblock. If buyers clear this hurdle, the pair could start a new up-move Contrary to this assumption, if the price re-enters the channel, it will suggest that sentiment remains negative and traders are selling on rallies. The pair could then drop to the critical support at $2,652.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Bitcoin metrics demand BTC price gains as analysis calls for ‘near-term caution’BTC price action may dip below $40,000 before the overall recovery continues for Bitcoin bulls.
Consulte Mais informação »
BTC, XRP and ADA Price Analysis for February 11Are there any altcoins that can weather the decline of BTC? CardanoStiftung ADAcoin_ Cardano cardano Cardano_ emurgo_io XrpYoyo ANT159694954 nuonrg WillyWonkaXRP
Consulte Mais informação »
JPMorgan Predicts Long-Term Bitcoin Price of $150K — Outlines Challenges Ahead – Markets and Prices Bitcoin NewsJPMorgan has predicted the long-term price of bitcoin to be $150K while the fair value of the crypto sits at $38K. cryptocurrency $BTC
Consulte Mais informação »
BTC, ETH, BNB, LUNA, SOL, AVAX and DOT Price Analysis for February 10Which coin can recover after the most recent price drop? Dave_Jonez_02 BNB Pain_Alive_BNB Binance_DEX crypto Ethereum ETH $ETH cryptoexchange VitalikButerin
Consulte Mais informação »
JPMorgan Increases Long-Term Bitcoin Price Prediction to $150,000Strategists at Wall Street investment bank JPMorgan have updated what they consider to be a “fair value” price for Bitcoin.
Consulte Mais informação »
CoinDesk: Bitcoin, Ethereum, Crypto News and Price DataBitcoin crossed its 50-day moving average earlier this week at the $42,500 price level. Continuation of this price movement would imply strength for the cryptocurrency. Watch Chart of the Day on 'All About Bitcoin,' presented by cryptocom:
Consulte Mais informação »