Price analysis 2/16: BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT

2 years ago

Bitcoin (BTC) and the US equity markets are facing selling connected Feb. 16 arsenic traders look to beryllium trimming positions successful assets perceived to beryllium risky connected the accusation by NATO that Russia continues to physique troops adjacent the Ukrainian border.

This is contrary to claims by Moscow that Russian troops are returning to their imperishable deployments aft completion of the exercise. This geopolitical uncertainty could effect successful accrued volatility successful the adjacent term.

However, the longer-term fundamentals proceed to strengthen. PwC Luxembourg, successful a caller report, said that 61% of 123 Luxembourg-based fiscal players person either started oregon program to commencement their “crypto journey” soon.

JPMorgan has opened a virtual lounge successful Decentraland’s Metajuku Mall, taking the archetypal measurement into the metaverse, which the slope believes volition contiguous a $1-trillion opportunity.

Even Warren Buffet who has been a vocal professional of Bitcoin until present seems to beryllium warming up to the FinTech sector. Berkshire Hathaway’s information filing shows that the steadfast has increased its holdings successful Nubank, the largest fintech slope successful Brazil, and reduced vulnerability successful Visa and Mastercard stock.

Let’s survey the charts of the top-10 cryptocurrencies to find the near-term terms action.

BTC/USDT

Bitcoin bounced disconnected the 20-day exponential moving mean ($41,938) connected Feb. 14 but the bulls could not propulsion the terms to the overhead absorption astatine $45,821. This suggests that higher levels proceed to pull selling.

The moving averages person completed a bullish crossover and the comparative spot scale (RSI) is successful the affirmative territory, indicating that the sentiment is positive. The bulls are apt to bargain the dips to the 20-day EMA.

If the terms turns up from the existent level oregon rebounds disconnected the 20-day EMA, the buyers volition effort to thrust the terms supra the neckline of the inverse caput and shoulders (H&S) pattern. If they succeed, the bullish setup volition complete, signaling a imaginable reversal.

Contrary to this assumption, if the terms breaks beneath the 20-day EMA, the BTC/USDT brace could driblet to $39,600. This is simply a captious level for the bulls to support due to the fact that a interruption beneath it could intensify selling.

ETH/USDT

Ether (ETH) broke and closed supra the moving averages connected Feb. 15, but the bulls are struggling to prolong the terms supra the 50-day elemental moving mean ($3,068). This indicates that bears proceed to merchantability connected rallies.

The sellers volition present effort to propulsion the terms backmost beneath the moving averages. If they succeed, the ETH/USDT brace could driblet to the beardown enactment astatine $2,652.

Conversely, if the terms rebounds disconnected the moving averages, it volition suggest that traders are accumulating connected dips. The bulls volition past again effort to thrust the terms supra $3,283.66. A adjacent supra this level volition implicit an inverse H&S pattern, which volition bespeak the commencement of a imaginable up-move. The brace could past rally to $4,000.

BNB/USDT

Binance Coin (BNB) soared supra the 20-day EMA ($410) and the downtrend enactment connected Feb. 15 but the bulls could not wide the hurdle astatine the 50-day SMA ($434).

The bears are trying to support the 50-day SMA and propulsion the terms backmost beneath the 20-day EMA. If they negociate to bash that, the assertive bulls could get trapped and the BNB/USDT brace whitethorn driblet to $390.60.

On the different hand, if the terms rebounds disconnected the 20-day EMA, it volition suggest that the sentiment has turned from merchantability connected rallies to bargain connected dips. That could summation the anticipation of a interruption supra the 50-day SMA. If that happens, the brace whitethorn commencement a rally to the overhead absorption astatine $500.

XRP/USDT

Ripple (XRP) is facing stiff absorption adjacent $0.85 for the past fewer days. The bears volition present effort to propulsion the terms to the breakout level astatine $0.75.

The moving averages person completed a bullish crossover and the RSI is successful the affirmative zone, indicating that bulls person a flimsy edge. The buyers are apt to support the 20-day EMA ($0.76) aggressively.

If the terms rebounds disconnected this level, the bulls volition again effort to wide the overhead obstruction astatine $0.85. If that happens, the XRP/USDT brace could emergence to $0.91 and aboriginal to the intelligence level astatine $1. This affirmative presumption volition invalidate if bears descend and prolong the terms beneath $0.75.

ADA/USDT

Cardano (ADA) bounced disconnected the $1 enactment connected Feb. 14 and reached the 20-day EMA ($1.11) connected Feb. 15. The bears are unwilling to fto spell of their vantage and are defending this level aggressively.

If the terms remains beneath the 20-day EMA, the sellers volition marque 1 much effort to descend and prolong the ADA/USDT brace beneath the captious enactment astatine $1. Frequent retests of a enactment level thin to weaken it. If the enactment cracks, the selling could intensify and the brace could plummet to $0.80.

Conversely, if the terms turns up from the existent level oregon $1 and breaks supra the moving averages, the brace could scope the absorption enactment of the channel. The bulls volition person to wide this hurdle to awesome the commencement of a caller trend.

SOL/USDT

Solana (SOL) bounced connected Feb. 14 and reached the 20-day EMA ($105) connected Feb. 15 but the bulls are facing stiff absorption from the bears astatine this level. This indicates that the sentiment remains antagonistic and traders are selling connected rallies.

The 20-day EMA has started to crook down and the RSI is beneath 43, suggesting that bears person the precocious hand. If the selling unit continues, the SOL/USDT brace could driblet to the beardown enactment astatine $80.83.

The bulls are apt to support this enactment with vigor. If the terms rebounds disconnected this level, the brace could consolidate betwixt $80.83 and $116 for a fewer days.

If the terms turns up from the existent level and breaks supra the 20-day EMA, the brace could rally to the absorption enactment of the channel. A interruption and adjacent supra the transmission volition bespeak that the downtrend could beryllium over.

AVAX/USDT

Avalanche (AVAX) bounced disconnected the uptrend enactment connected Feb. 14 and surged to the downtrend enactment connected Feb. 15. The bulls pushed the terms supra the downtrend enactment contiguous but the agelong wick connected the candlestick shows that bears are selling astatine higher levels.

The moving averages are adjacent to completing a bullish crossover and the RSI is knocking connected the overhead absorption adjacent 62. This suggests that bulls person the precocious hand.

If buyers prolong the terms supra the downtrend line, the AVAX/USDT brace could commencement a rally to $117.53.

Conversely, if the terms turns down and breaks beneath the downtrend line, it volition suggest that the existent breakout whitethorn person been a carnivore trap. The brace could past again driblet to the moving averages. The inclination could crook successful favour of the bears connected a interruption and adjacent beneath the uptrend line.

LUNA/USDT

Terra’s LUNA token broke and closed supra the 20-day EMA ($56) connected Feb. 15, but the bulls are struggling to prolong the higher levels. This suggests that bears proceed to merchantability connected rallies.

The bears person pulled the terms backmost beneath the 20-day EMA and volition present effort to interruption the enactment astatine $54.20. If that happens, the LUNA/USDT brace could diminution to $49.39. If this enactment besides cracks, the adjacent halt could beryllium $43.44.

Conversely, if the terms rebounds disconnected $54.20, the brace could resume its alleviation rally to the downtrend enactment of the descending channel. The bulls volition person to propulsion and prolong the terms supra this absorption to bespeak that the downtrend whitethorn beryllium over.

DOGE/USDT

Dogecoin (DOGE) broke and closed supra the 20-day EMA ($0.14) connected Feb. 15 but the betterment is again facing beardown selling astatine the 50-day SMA ($0.15).

The 20-day EMA has flattened retired and the RSI is conscionable beneath the midpoint, indicating a equilibrium betwixt proviso and demand. If bulls propulsion and adjacent the terms supra the 50-day SMA, the DOGE/USDT brace could situation the overhead absorption astatine $0.17. If bulls wide this hurdle, the brace could prime up momentum and rally to $0.22.

On the different hand, if the terms turns down from the existent level and plummets beneath $0.14, the brace could driblet to $0.13 and aboriginal to the captious enactment astatine $0.12.

DOT/USDT

The agelong process connected Polkadot’s (DOT) Feb. 14 candlestick shows that bulls are buying connected dips adjacent the beardown enactment level astatine $16.81. The betterment reached the 20-day EMA ($20.16) connected Feb. 15 but the bulls could not wide this hurdle.

This indicates that bears person not yet fixed up and are mounting a beardown defence successful the portion betwixt the 20-day EMA and the downtrend line. If the terms continues lower, the bears volition effort to propulsion the DOT/USDT brace beneath $16.81 and resume the downtrend.

Alternatively, if the terms rebounds disconnected $16.81, the brace volition again effort to interruption supra the overhead portion and scope $23.19. A interruption and adjacent supra this absorption volition awesome a imaginable alteration successful trend.

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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