Bitcoin and altcoins continue to be rocked by macroeconomic and geopolitical uncertainty, but data shows bulls continue to buy each dip.) rally to a new all-time high, and the subsequent consolidation suggests that the bulls are not rushing to the exit as they anticipate another leg higher. According to an X post by Santiment, the rise has been supported by theIt is not only the whales who are buying.
If the price turns up from the current level or $3,056 and breaks above the 20-day EMA, it will suggest that the selling pressure is reducing. That could push the pair to the 50-day SMA and then to $3,679.If the price turns down sharply from $635, it will suggest that the BNB/USDT pair may extend its stay inside the range for some more time. The pair could drop to the moving averages and thereafter to $495.
If buyers want to gain the upper hand, they will have to push the price back above the 20-day EMA. That will increase the likelihood of the pair remaining inside the large range between $0.46 and $0.74 for some more time.) has been trading near the 20-day EMA for the past few days, indicating a tough battle between the bulls and the bears.The bulls are finding it difficult to propel the price above the overhead resistance zone between the 20-day EMA and the downtrend line.
The first sign of strength will be a break and close above the 20-day EMA. If this resistance is crossed, it will suggest a short-term trend change. The pair may then rise to $0.57.If the price turns down sharply from the current level, it will suggest that the bears remain in command. The AVAX/USDT pair could slump toward the $32 to $27 support zone. Buyers are expected to defend this zone with all their might because if they fail in their endeavor, the pair may tumble to $20.
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Source: FXStreetNews - 🏆 14. / 72 Read more »