XMR/USDT daily chart. Source: TradingView
Instead, if the price turns down from the current level or the neckline, it will suggest that the bears remain active at higher levels. The sellers will then try to yank the price below the $149-support, opening the door for a decline to $130.The 4-hour chart shows that the price rebounded off the 50-SMA but the bulls could not pierce the resistance line. This shows that the bears are selling on rallies.
OKB is trading inside a large symmetrical triangle pattern. Generally, in this setup, traders buy near the support line and sell near the resistance.The bears are trying to maintain OKB price below the 50-day SMA while the bulls are attempting to reclaim the level. If the price turns up from the current level or rebounds off the support line, it will suggest demand at lower levels.
Conversely, if the price rises above the moving averages, it will signal accumulation at lower levels. The pair could first rise to $49.50 and thereafter attempt a rally to $53.Rocket Pool is looking strong as it is trading above the moving averages. This shows that the bulls are buying on dips.The bulls will have to propel the price above the overhead resistance at $53.45 to signal that the corrective phase may be over. The RPL/USDT pair may thereafter attempt a rally to $58.
Market uncertainty prevails as Bitcoin's volatility shrinks and the S&P 500 Index oscillates within a range. But analysts remain bullish for the long-term, with potential signals pointing towards a rally to $63,500 in about a year.
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