) recovery is showing hesitation near $70,000, but a positive sign is that the bulls have not ceded ground to the bears. Acheron Trading CEO Laurent Benayoun believes the current bull cycle has room to run and couldAnother bullish voice was that of Bitwise chief investment officer Matthew Hougan, who said in a memo to the investment professionals to “keep calm and take the long view.
Alternatively, if the price turns down and breaks below $3,460, it will signal that the bulls have given up. That could start a decline to the 50-day SMA . This level is likely to attract buyers, but a weak bounce off it will enhance the prospects of a drop to $3,000.If the price sustains above $588, the BNB/USDT pair could reach the overhead resistance of $645.
The flattish 20-day EMA and the RSI near the midpoint indicate a balance between supply and demand. The advantage will tilt in favor of the bulls if they drive the price above $0.69. That could clear the path for a rally to the formidable resistance at $0.74.If the price falls below $0.63, it will suggest that the ADA/USDT pair could remain range-bound between $0.68 and $0.57 for a few days.
This positive view will be invalidated if the price dives below $0.19. That could open the doors for a fall to the 20-day EMA . This is an important level for the bulls to defend because a break below it may sink the pair to the 50-day SMA .) is finding it difficult to bounce off the support line of the pennant, indicating that the bears are keeping up the pressure.If the price plunges below the 20-day EMA , the AVAX/USDT pair could drop to $50.
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Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »