Crypto News- Bitcoin’s recovery, though hesitant around $70,000, indicates that bulls are standing their ground against bears. Laurent Benayoun, CEO of Acheron Trading, suggests the current bull run could peak between $120,000 and $180,000, fueled by factors like Bitcoin ETFs and the upcoming halving.
Crypto Prices: BTC, ETH, BNB, SOL, XRP, ADA, DOGE, AVAX, SHIB, TON
Matthew Hougan, Bitwise’s CIO, advises patience, projecting a $1 trillion influx if wealth managers allocate just 1% to Bitcoin. Despite bullish sentiments, QCP Capital warns of potential exhaustion in the current move.
In the short term, could Bitcoin and altcoins correct or continue their rally? Let’s delve into the top 10 cryptocurrencies’ charts.
Bitcoin Price Analysis
Bitcoin has traded within a tight range, indicating indecision. Holding near highs and with a rising 20-day EMA and positive RSI, bulls have an edge. A breakout above $71,770 to $73,777 may pave the way for an $80,000 rally. Conversely, a drop below the 20-day EMA may lead to a test of the 50-day SMA.
Ether Price Analysis
Ether battles near $3,678, with no clear advantage. A break above could target $4,100 and $4,500, while a drop below $3,460 may signal a decline to $3,000.
BNB Price Analysis
BNB made a decisive move above $588, eyeing $645. Bears must defend $645, or the pair may surge to $669 and $692. Failure to hold above $588 may lead to a correction towards $495.
Solana Price Analysis
Solana faces resistance at the downtrend line. A drop below the 20-day EMA could lead to $162 and the 50-day SMA. Bulls aim to breach $205 for a rally to $267.
XRP Price Analysis
XRP hovers near the 20-day EMA, with $0.69 as a bullish trigger and $0.52 as a bearish signal.
Cardano Price Analysis
Cardano struggles below $0.68. Bulls need to reclaim $0.70 for a rally to $0.81, while bears aim for a drop below $0.63.
Dogecoin Price Analysis
Dogecoin corrects near $0.23, targeting $0.19 support. A rebound may lead to $0.30, but a break below $0.19 could trigger a deeper correction.
Avalanche Price Analysis
Avalanche (AVAX) finds itself under pressure as it struggles near the $53 level, with indications that a breach below this critical support could trigger further downside momentum. Should the price indeed break below $53, the next levels of interest for potential support are at $50 and potentially as low as $46. These levels have historically served as significant price zones, likely to attract buying interest and possibly provide temporary relief to the downward pressure.
Conversely, if Avalanche manages to stage a rebound from current levels or from the anticipated support zones, it could aim to challenge the overhead resistance. A successful rebound could propel AVAX towards the $65 level, where it may encounter significant resistance. This level has previously acted as a strong barrier to further upside movements, requiring substantial buying pressure to overcome.
Shiba Inu Price Analysis
Shiba Inu (SHIB) has encountered a significant hurdle in its recent rally as it contends with resistance around the $0.000032 level. This resistance zone represents a critical juncture where sellers have historically been active, hindering further upward movements. Failure to breach this resistance could result in a period of consolidation or potential retracement for SHIB.
Should the price of Shiba Inu succumb to selling pressure and decline below the support level at $0.000028, it may pave the way for further downside movement. In such a scenario, traders and investors might look towards the next key support level around $0.000021. This level has previously acted as a significant area of interest, potentially attracting buyers and providing a temporary floor for price declines.
Toncoin Price Analysis
Toncoin (TON) has exhibited resilience as it defends the crucial support level at $4.78, indicating the presence of strong buying interest in this price region. This support level holds significant importance for traders and investors, as a breach below it could potentially signal a shift in the prevailing trend.
Should Toncoin manage to maintain its defense of the $4.78 support level, market participants may interpret this as a bullish sign. In such a scenario, the cryptocurrency could aim to challenge the overhead resistance at $5.69. This level represents a key barrier that Toncoin must overcome to resume its upward trajectory. A successful breach above $5.69 could open the door for further upside potential and potentially attract more buyers into the market.
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