Price analysis 2/15: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, SOL, DOT, LTC

2 years ago

Bitcoin (BTC) is starring the cryptocurrency markets connected the way to recovery. Although the United States Consumer Price Index (CPI) people for January was marginally higher than expectations, it did not dent the enthusiasm of bullish crypto trader.

A affirmative effect to seemingly antagonistic information is simply a motion that the sentiment is bullish and traders are looking for buying opportunities.

However, immoderate analysts are cautious owed to the strengthening of the U.S. dollar scale (DXY). They judge that a sustained rally successful the DXY could bounds the upside successful cryptocurrencies.

Usually, semipermanent downtrends are followed by a basal formation. During this phase, respective analysts stay skeptical astir a rally but the terms enactment continues to astonishment them. Although information is important, short-term traders should absorption much connected terms enactment and devise a suitable strategy.

What are the captious levels to support an oculus on? Let’s survey the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin bounced disconnected the $21,480 level connected Feb. 14 and reached the 20-day exponential moving mean ($22,235). This shows that buyers are trying to apprehension the correction adjacent the 38.2% Fibonacci retracement level of $21,228. A shallow pullback is an denotation that traders are buying connected insignificant dips.

If bears privation to fortify their position, they volition person to aggressively support the $22,800 level and descend the terms beneath $21,228. If they bash that, the BTC/USDT brace whitethorn widen the correction to the 50% retracement level astatine $20,294. The deeper the correction, the longer it is apt to instrumentality for the adjacent limb of the up-move to begin.

Conversely, if bulls thrust and prolong the terms supra $22,800, the brace could rally to $23,500 and past to $24,255. The bears are expected to fiercely defender this zone. If the terms turns down from it, the brace whitethorn stay range-bound betwixt $21,228 and $24,255 for a fewer days.

ETH/USDT

Ether (ETH) continues to commercialized betwixt the moving averages. The beardown rebound disconnected the 50-day elemental moving mean ($1,483) connected Feb. 14 displays request astatine little levels.

The flattening 20-day EMA ($1,569) and the RSI adjacent the midpoint suggest a equilibrium betwixt proviso and demand. A interruption supra the 20-day EMA volition tilt the vantage successful favour of the buyers. The ETH/USDT brace could past retest the coagulated overhead absorption astatine $1,680.

On the contrary, if the terms turns down from the existent level and plummets beneath the 50-day SMA, it volition awesome vantage to bears. That whitethorn commencement a deeper correction to the adjacent beardown enactment astatine $1,352.

BNB/USDT

BNB (BNB) plunged beneath the 50-day SMA ($293) connected Feb. 13 but the bears could not physique upon this advantage. The agelong process connected the day’s candlestick shows beardown buying adjacent $280.

The 20-day EMA has started to crook down and the RSI is successful the antagonistic territory, indicating that bears person a flimsy edge. The adjacent driblet to $280 increases the hazard of a breakdown. Below this support, the BNB/USDT brace could widen its diminution to $260.

If the terms turns up from the existent level and rises supra the 20-day EMA, it volition bespeak coagulated request astatine little levels. That could heighten the prospects of a rally to the neckline of the bullish inverted caput and shoulders (H&S) pattern.

XRP/USDT

XRP (XRP) jumped up from the beardown enactment astatine $0.36 connected Feb. 14 and reached the 50-day SMA ($0.38). The bears are apt to merchantability the alleviation rally to the moving averages.

If the terms turns down from the existent level, it volition suggest that bears are selling connected rallies. That whitethorn effect successful a retest of the enactment astatine $0.36. This is an important level for the bulls to support due to the fact that if it cracks, the XRP/USDT brace volition signifier a caput and shoulders pattern. This bearish setup has a people nonsubjective of $0.29.

Alternatively, if the terms rises supra the moving averages, it volition bespeak that the brace whitethorn oscillate betwixt $0.42 and $0.36 for a portion longer.

ADA/USDT

Cardano (ADA) attracted coagulated buying astatine the 50-day SMA ($0.34) arsenic seen from the agelong process connected the Feb. 13 candlestick. The bulls followed it up with different beardown up-move connected Feb. 14 which roseate supra the 20-day EMA ($0.38).

If the terms sustains supra the 20-day EMA, the bulls volition effort to propel the ADA/USDT brace supra the neckline of the inverse caput and shoulders pattern. If they succeed, the brace could prime up momentum and soar supra the contiguous absorption astatine $0.44. The adjacent large hurdle is $0.52 and if this is crossed, the rally whitethorn widen to the signifier people of $0.60.

Contrarily, if the terms turns down and breaks beneath the 20-day EMA, it volition suggest that bears are trying a comeback. They volition person to descend the terms beneath $0.34 to summation the precocious hand.

DOGE/USDT

Repeated attempts by the bears to prolong Dogecoin (DOGE) beneath the 50-day SMA ($0.08) failed successful the past fewer days. This shows beardown request astatine little levels.

The bulls volition present effort to prolong the terms supra the 20-day EMA ($0.08). If they negociate to bash that, the DOGE/USDT brace could emergence to the overhead absorption portion betwixt $0.10 and $0.11. The bears are expected to support this portion with each their might.

Another anticipation is that the terms turns down from the 20-day EMA. If that happens, it volition suggest that the bears are trying to flip the 20-day EMA into resistance. The brace could past autumn to the 50-day SMA and yet to the beardown enactment astatine $0.07.

MATIC/USDT

The bears pulled Polygon (MATIC) beneath the 20-day EMA ($1.19) connected Feb. 13 and Feb. 14 but they could not prolong the little levels. This shows that the bulls are not consenting to springiness up their advantage.

If bulls thrust the terms supra the downtrend line, the MATIC/USDT brace could effort a rally to $1.35. Such a determination volition heighten the prospects of the continuation of the up-move. If $1.35 is scaled, the rally whitethorn widen to $1.75.

Instead, if the terms turns down sharply from the downtrend line, it volition suggest that bears are selling connected each insignificant rally. The adjacent dip beneath the 20-day EMA whitethorn unfastened the gates for a imaginable descent to $1.05.

SOL/USDT

Solana (SOL) has been stuck betwixt the moving averages since Feb. 9. which suggests indecision among the bulls and the bears.

The flattish 20-day EMA ($22.21) and the RSI astatine the midpoint besides bash not springiness a wide vantage either to the bulls oregon the bears. This indicates that the SOL/USDT brace whitethorn plaything betwixt the downtrend enactment and the 50-day SMA for immoderate time.

If the terms breaks beneath the 50-day SMA, the selling whitethorn intensify and the brace is apt to slump to $15. Conversely, if bulls footwear the terms supra the downtrend line, the brace could implicit a 100% retracement and emergence to $39.

DOT/USDT

The bears tried to propulsion Polkadot (DOT) beneath the 50-day SMA ($5.76) connected Feb. 13 and Feb. 14 but the agelong process connected the candlestick shows beardown buying astatine little levels.

The bulls volition effort to physique upon this vantage and thrust the terms supra the 20-day EMA ($6.32). If they tin propulsion it off, the DOT/USDT brace could commencement its travel toward the overhead absorption astatine $7.25. This volition signifier an inverse H&S pattern, which volition implicit connected a interruption supra $7.25. This reversal setup has a signifier people of $10.28.

Instead, if the terms turns down and breaks beneath the 50-day SMA, it volition suggest that bears person flipped the 20-day EMA into resistance. That could commencement a deeper correction to $4.35.

LTC/USDT

The agelong process connected Litecoin’s (LTC) Feb. 13 candlestick shows that the bulls are buying the dips to the 50-day SMA ($86). Buyers continued their acquisition connected Feb. 14 and cleared the 20-day EMA ($93) hurdle.

The terms is stuck betwixt $102.53 connected the upside and $88 connected the downside. The flattish 20-day EMA and the RSI supra 57 constituent to a imaginable range-bound enactment successful the adjacent term.

A consolidation adjacent the section highs is simply a affirmative motion arsenic it suggests that stronger hands proceed to clasp connected to their presumption arsenic they expect the up-move to resume. A interruption supra $102.53 could wide the way for a imaginable emergence to $115.

This affirmative presumption could beryllium negated successful the adjacent word if the terms turns down and plummets beneath $88. The brace whitethorn past tumble to $81 and aboriginal to $75.

The views, thoughts and opinions expressed present are the authors’ unsocial and bash not needfully bespeak oregon correspond the views and opinions of Cointelegraph.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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