Price analysis 2/11: BTC, ETH, BNB, XRP, ADA, SOL, LUNA, AVAX, DOT, DOGE

2 years ago

Bitcoin (BTC) is attempting to bottommost retired and whales look to beryllium helping it bash that. Coin Metrics information shows that whale addresses holding astatine slightest 1,000 Bitcoin person been accumulating successful the past fewer days. The full proviso of these addresses roseate from 7.95 cardinal Bitcoin connected Jan. 24 to 8.096 cardinal connected Feb. 10.

Another motion that capitalist sentiment could beryllium turning affirmative is that crypto speech balances of stablecoins person soared supra $27 cardinal for the archetypal time, according to on-chain analytics level CryptoQuant. In comparison, Bitcoin reserves connected the exchanges person continued to slide, indicating that investors are stashing their holdings.

Although Bitcoin has been intimately correlated with the U.S. equity markets successful the abbreviated term, Zhu Su, co-founder of hedge money Three Arrows Capital (3AC), believes their show volition diverge successful 2022. Zhu suggested that Bitcoin and Ether (ETH) are candidates for going agelong while the S&P 500 is simply a abbreviated candidate.

After the caller betterment successful Bitcoin and altcoins, is it clip for a insignificant correction oregon consolidation? Let’s survey the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin turned down from the overhead absorption astatine $45,456 connected Feb. 10, indicating that bulls proceed to support the level aggressively. A insignificant affirmative is that bulls person not allowed the terms to interruption beneath the 50-day elemental moving mean ($42,427).

This indicates that bulls are attempting to flip the 50-day SMA into support. The rising 20-day exponential moving mean ($41,317) and the comparative spot scale (RSI) successful affirmative territory bespeak a flimsy vantage to buyers.

If the terms bounces disconnected the existent level, the bulls volition marque 1 much effort to propulsion the BTC/USDT brace supra $45,456. If they succeed, the bullish momentum could prime up and the brace whitethorn emergence to $48,000 and aboriginal to $52,088.

Contrary to this assumption, if the terms turns down from the existent level oregon from $45,456, the bears volition fancy their chances and effort to propulsion the brace beneath the 20-day EMA. If that happens, the brace could driblet to $39,600.

ETH/USDT

Ether broke and closed supra the 50-day SMA ($3,171) connected Feb. 9, but the bulls could not physique upon this strength. The terms turned backmost beneath the 50-day SMA connected Feb. 10 which suggests that bears are attempting to trap the assertive bulls.

However, a affirmative motion is that the bulls person not allowed the terms to interruption backmost into the channel. If the terms rebounds disconnected the 20-day EMA ($2,959), the buyers volition again effort to propulsion the ETH/USDT brace supra the overhead hurdle.

The portion betwixt the 50-day SMA and $3,400 could enactment arsenic a large roadblock. If buyers wide this hurdle, the brace could commencement a caller up-move

Contrary to this assumption, if the terms re-enters the channel, it volition suggest that sentiment remains antagonistic and traders are selling connected rallies. The brace could past driblet to the captious enactment astatine $2,652.

BNB/USDT

Binance Coin (BNB) is struggling to interruption supra the downtrend enactment of the descending channel. This suggests that bears are defending the absorption with each their might.

The flattish 20-day EMA ($410) and the RSI adjacent the midpoint suggest a equilibrium betwixt proviso and demand. If the terms breaks beneath the 20-day EMA, it volition summation the prospects of the BNB/USDT brace staying wrong the transmission for a fewer much days. The brace could archetypal gaffe to $390 and past proceed its downward determination to $357.40.

On the contrary, if the terms rebounds disconnected the existent level, the bulls volition marque 1 much effort to propel the brace supra the transmission and the 50-day SMA ($448). If they succeed, the brace could gradually emergence to $500.

XRP/USDT

Ripple (XRP) is witnessing profit-booking aft the caller rally. The terms could driblet to the breakout level astatine $0.75 wherever the buyers whitethorn measurement successful to apprehension the decline.

The rising 20-day EMA ($0.73) and the RSI successful the affirmative territory bespeak that bulls person the precocious hand. The buyers volition present effort to support the enactment astatine $0.75.

If the terms rebounds disconnected this level, the buyers volition again effort to thrust the XRP/USDT brace supra $0.92 and situation the intelligence absorption astatine $1.

This bullish presumption volition invalidate successful the abbreviated word if the terms breaks beneath the 20-day EMA. Such a determination could unfastened the doors for a diminution to $0.65.

ADA/USDT

Cardano (ADA) has repeatedly failed to interruption supra the 50-day SMA ($1.22) successful the past fewer days, indicating that bears are defending this level with vigor. The sellers volition present effort to descend and prolong the terms beneath the 20-day EMA.

If they negociate to bash that, the ADA/USDT brace could driblet to the captious enactment astatine $1. This is an important level for the bulls to support due to the fact that a interruption and adjacent beneath it could intensify selling. The brace could past descent to $0.80.

The moving averages person flattened retired and the RSI is adjacent the midpoint, indicating a equilibrium betwixt proviso and demand. If the terms bounces disconnected the existent level and breaks supra the 50-day SMA, the brace could emergence to the absorption enactment of the descending channel. A interruption and adjacent supra this level volition awesome a affirmative alteration successful trend.

SOL/USDT

Solana (SOL) turned down from the overhead absorption astatine $116 and broke backmost beneath the 20-day EMA ($111) connected Feb. 10. This suggests that the sentiment remains antagonistic and bears are selling connected rallies to absorption levels.

The SOL/USDT brace could present descent to $94 and past to the beardown enactment astatine $80.83. This is an important level for the bulls to support due to the fact that a interruption and adjacent beneath it could awesome the resumption of the downtrend. The brace could past driblet to the enactment enactment of the channel.

The archetypal motion of a inclination alteration volition hap connected a interruption and adjacent supra the absorption enactment of the channel. Such a determination could awesome the commencement of a imaginable caller uptrend. The brace could past rally to $157.80.

LUNA/USDT

The bulls person repeatedly failed to propulsion Terra’s LUNA token supra the 20-day EMA ($57.80) successful the past fewer days, which suggests that bears are defending the level aggressively. Hence, this becomes a cardinal absorption to ticker connected the upside.

The downsloping 20-day EMA and the RSI successful the antagonistic territory bespeak that bears person the precocious hand. If the terms sustains beneath $54.20, the LUNA/USDT brace could gaffe down to the beardown enactment astatine $43.44.

This antagonistic presumption volition invalidate if the terms turns up from the existent level and breaks supra $60.64. The brace could past rally to the downtrend enactment of the descending transmission wherever the bears whitethorn again airs a beardown situation to buyers.

AVAX/USDT

The downtrend enactment is proving to beryllium a pugnacious obstruction for the bulls to cross. This indicates that higher levels proceed to pull selling by the bears. If Avalanche (AVAX) breaks beneath the 50-day SMA ($87), a driblet to the 20-day EMA ($80) is possible.

If the terms rebounds disconnected the 20-day EMA, it volition suggest that traders are buying connected dips. The bulls volition past again effort to thrust the terms supra the downtrend enactment and commencement a caller up-move. If they negociate to bash that, the AVAX/USDT brace could rally to $117.53.

Conversely, if the terms breaks beneath the enactment portion betwixt the 20-day EMA and $75.50, it volition suggest that the sentiment remains antagonistic and traders are selling connected rallies. The brace could past driblet to $64.85.

DOT/USDT

Polkadot (DOT) slipped and closed beneath the 20-day EMA ($20.96) connected Feb. 10, indicating that bears are aggressively defending the overhead absorption portion betwixt $22.66 and the 50-day SMA ($23.75).

The flattish moving averages and the RSI beneath 46 suggest that bears person a flimsy borderline successful the abbreviated term. If the terms sustains beneath the 20-day EMA, the DOT/USDT brace could descent to the beardown enactment astatine $16.81. If the terms rebounds disconnected this support, the brace could stay range-bound for a fewer much days.

Contrary to this assumption, if the terms turns up from the existent level and rises supra the 50-day SMA, it volition suggest that bears whitethorn beryllium losing their edge. The brace could past commencement its up-move to $28.

DOGE/USDT

Dogecoin (DOGE) again stumbled astatine the 50-day SMA ($0.15) connected Feb. 9 and 10, indicating that bears are aggressively defending this resistance. Both moving averages are flattening retired and the RSI is adjacent the midpoint, suggesting a range-bound enactment successful the abbreviated term.

If the terms slips and sustains beneath the 20-day EMA ($0.15) traders who bought the caller dip whitethorn adjacent their positions. This could propulsion the DOGE/USDT brace toward the beardown enactment portion betwixt $0.10 to $0.12.

Instead, if the terms rebounds disconnected the existent level, the buyers volition marque 1 much effort to propulsion the brace supra the overhead absorption astatine $0.17. If they negociate to bash that, the brace could rally to $0.22.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph. Every concern and trading determination involves risk. You should behaviour your ain probe erstwhile making a decision.

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