Bitcoin and some altcoins are holding steady despite the US dollar index reaching a near 1-year high. This indicates a lack of aggressive selling at lower levels.
Bitcoin’s price remains range-bound, causing traders to stay on the sidelines. Low liquidity could lead to volatile moves in either direction.
MicroStrategy has acquired 5,445 Bitcoin at an average price of $27,053 per Bitcoin, showing long-term bullish sentiment.
The price analysis of the top 10 cryptocurrencies shows mixed signals for short-term movements.
Bitcoin is facing resistance near the 20-day exponential moving average, with bears selling rallies to the 50-day simple moving average. A break above the 50-day SMA could lead to a rise towards $28,143.
Ether is attempting a recovery but faces resistance at the 20-day EMA. A break above the 20-day EMA could lead to a rally towards $1,746.
BNB remains below the breakdown level of $220 but has not slipped below $203. If the price breaks above $220, it could rise to $235.
XRP is in a symmetrical triangle pattern, with sellers trying to push the price below the uptrend line. A break above the resistance line could lead to a climb towards $0.56.
Cardano is struggling to push the price above the 20-day EMA and may complete a bearish descending triangle pattern if the $0.24 support gives way. A break above the downtrend line could lead to an up-move towards $0.29.
Dogecoin has seen buying at lower levels but remains under bearish control. A sustained break below $0.06 could lead to a drop towards $0.055.
Solana is facing strong resistance at the 20-day EMA and may see further selling if it breaks below $18.50. A bounce from $18.50 could lead to a rally towards $22.30.
Toncoin is at an important level at the 20-day EMA, with buyers buying the dips. A break above the 61.8% Fibonacci retracement level could lead to a rally towards $2.40.
Polkadot is stuck below the 20-day EMA, with bears defending the level. A break below $3.91 could indicate a further downtrend.
Polygon bounced off a critical support level but remains under selling pressure. A break below $0.49 could resume the downtrend.
Summary:
– Bitcoin and some altcoins are holding steady despite the US dollar index reaching a near 1-year high.
– Bitcoin remains range-bound, causing traders to stay on the sidelines.
– MicroStrategy has acquired more Bitcoin, showing long-term bullish sentiment.
– The price analysis of the top 10 cryptocurrencies shows mixed signals for short-term movements.
– Key levels to watch include resistance at the 20-day EMA for Bitcoin and Ether, support at $0.24 for Cardano, and resistance at $0.06 for Dogecoin.
– The overall sentiment remains uncertain, and traders should wait for confirmations before taking positions.
