Price analysis 2/25: BTC, ETH, BNB, XRP, ADA, SOL, AVAX, LUNA, DOGE, DOT

2 years ago

The U.S. equity markets and Bitcoin (BTC) person rebounded sharply from their Feb. 24 lows portion golden has made a retreat from its caller highs. This indicates that investors whitethorn beryllium buying risky assets and reducing vulnerability to assets perceived arsenic a harmless haven.

Recent reports also suggest that Russian President Vladimir Putin whitethorn nonstop a delegation to negociate with Ukraine and this raises anticipation that the struggle could extremity sooner than analysts expect.

Some analysts judge that the U.S. Federal Reserve whitethorn not rise rates aggressively successful March owed to the geopolitical situation. Allianz main economical advisor Mohamed El-Erian believes that the March 50 ground constituent complaint hike is “completely disconnected the table.”

Dr. Raullen Chai, the co-founder and CEO of blockchain web IoTeX, told Cointelegraph that investors should refrain from selling their crypto holdings with the anticipation of buying again astatine a little price. He cautioned that the marketplace could “easily scope caller all-time highs by the extremity of the year.”

Could bulls physique upon the beardown bounce disconnected the little levels oregon volition bears merchantability astatine higher levels and propulsion the terms down? Let’s analyse the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin formed an outside-day candlestick signifier connected Feb. 24. The bears pulled the terms beneath the contiguous enactment astatine $36,250 but the agelong process connected the day’s candlestick indicates beardown buying by the bulls astatine little levels.

If buyers propulsion the terms supra the moving averages, the BTC/USDT brace could rally toward the overhead absorption astatine $45,821. Such a determination volition suggest that the bears whitethorn beryllium losing their grip. The longer the terms sustains supra the moving averages, the greater the anticipation that a bottommost has been made.

Conversely, if the terms turns down from the moving averages, it volition suggest that the sentiment remains antagonistic and traders are selling connected rallies. The bears volition past marque 1 much effort to descend and prolong the brace beneath $36,250. If they negociate to bash that, the brace could driblet to the beardown enactment portion betwixt $34,322 and $32,917.

ETH/USDT

Ether (ETH) broke beneath the enactment enactment of the symmetrical triangle connected Feb. 24 but the bears could not prolong the little levels. The agelong process connected the day’s candlestick indicates beardown buying astatine little levels.

The ETH/USDT brace has re-entered the triangle and the bulls are attempting to propulsion the terms supra the moving averages. If they succeed, the brace could emergence to the absorption enactment of the triangle. A interruption and adjacent supra this level could bespeak the commencement of a caller imaginable uptrend.

Contrary to this assumption, if the terms turns down from the moving averages, the bears volition again effort to propulsion the brace beneath the enactment enactment of the triangle. If that happens, the brace could retest $2,300. If this enactment besides cracks, the diminution could widen to $2,159

BNB/USDT

Binance Coin (BNB) plummeted to the beardown enactment portion astatine $330 to $320 connected Feb. 24 wherever the buyers stepped successful and arrested the decline. The beardown rebound pushed the terms backmost supra the breakdown level astatine $350.

The bulls are attempting to propel the terms to the moving averages wherever the bears are expected to equine a beardown defense. If the terms turns down from the moving averages, the bears volition again effort to descend and prolong the BNB/USDT brace beneath $350 and situation the enactment zone.

Alternatively, if bulls thrust the terms supra the 50-day elemental moving mean ($411), it volition suggest that the selling unit could beryllium reducing. The brace whitethorn past rally to the overhead absorption astatine $445.

XRP/USDT

Ripple (XRP) rebounded disconnected the $0.62 enactment connected Feb. 24 but the bulls could not propulsion the terms supra the overhead absorption astatine the 50-day SMA ($0.72). This resulted successful the enactment of a long-legged Doji candlestick pattern.

The bulls are again attempting to thrust the terms supra the moving averages. If they negociate to bash that, the XRP/USDT brace could rally to the downtrend line. The bulls volition person to wide this hurdle to awesome a imaginable alteration successful the short-term trend. The brace could past effort an up-move to $0.91 and aboriginal to $1.

Conversely, if the terms turns down from the moving averages, it volition suggest that bears proceed to merchantability connected rallies. The bears volition past resume their selling and effort to propulsion the brace to the beardown enactment portion astatine $0.62 to $0.55.

ADA/USDT

Cardano (ADA) continues to beryllium successful a beardown downtrend and the terms has been trading beneath the captious level astatine $1 for the past fewer days. The agelong process connected Feb. 25 candlestick shows that bulls bought the dip to $0.74.

The downsloping moving averages and the comparative spot scale (RSI) beneath 37 suggest that bears are successful control. If the terms turns down from the existent level oregon the overhead absorption astatine $1, it volition suggest that bears proceed to merchantability connected rallies. The bears volition past effort to propulsion the brace beneath $0.74.

Conversely, if the terms breaks supra $0.90, the brace could emergence to the breakdown level astatine $1. This is an important level for the bears to support due to the fact that a interruption supra it volition bespeak that the markets person rejected the little levels. The brace could past situation the absorption enactment of the descending channel.

SOL/USDT

Solana (SOL) recovered sharply from the intraday debased connected Feb. 24 and closed supra the breakdown level astatine $81. The agelong process connected the day’s candlestick shows beardown buying astatine little levels.

The bulls volition person to wide the overhead hurdle astatine the 50-day SMA ($110) to bespeak that the selling unit could beryllium reducing. The SOL/USDT brace could thereafter rally to the overhead absorption astatine $122.

A interruption and adjacent supra this level volition implicit a treble bottommost pattern, which has a signifier people astatine $163.

Alternatively, if the terms turns down from the existent level, the bears volition situation the beardown enactment astatine $81 and effort to resume the downtrend. The selling unit could summation connected a interruption and adjacent beneath $75.

AVAX/USDT

Avalanche (AVAX) attempted to emergence supra the moving averages connected Feb. 23 but the agelong wick connected the day’s candlestick indicates beardown selling astatine higher levels. The bears pulled the terms to $64 connected Feb. 24 but the bulls bought this dip. This suggests that bears are selling connected rallies portion bulls are buying connected dips.

Both moving averages are sloping down and the RSI is conscionable beneath the midpoint, indicating a insignificant vantage to bears. If the terms remains beneath the moving averages, the AVAX/USDT brace could retest $64. A interruption and adjacent beneath this level could unfastened the doors for a imaginable autumn to $51.

Conversely, if bulls propulsion the terms supra the moving averages, the brace could emergence to the downtrend enactment of the channel. A interruption and adjacent supra this level volition bespeak a imaginable alteration successful trend.

LUNA/USDT

Terra’s LUNA token formed an outside-day candlestick signifier connected Feb. 24. Although the bears pulled the terms backmost beneath the 20-day exponential moving mean ($56), they could not prolong the little levels.

The LUNA/USDT brace recovered sharply from the lows and closed supra the 50-day SMA ($61). This indicates assertive buying connected dips. The 20-day EMA has started to crook up and the RSI is successful the affirmative territory, indicating that bulls person the precocious hand.

There is simply a insignificant absorption astatine $70. If bulls wide this hurdle, the brace could rally to the overhead portion astatine $85 to $87. Conversely, if the terms turns down from $70, the brace could driblet to the moving averages.

DOGE/USDT

Dogecoin (DOGE) rebounded disconnected the beardown enactment astatine $0.10 connected Feb. 24 and closed supra the breakdown level astatine $0.12. However, the bulls person not been capable to prolong the buying momentum, indicating a deficiency of request astatine higher levels.

The bears volition again effort to propulsion the terms beneath $0.12 and situation the intelligence enactment astatine $0.10. A interruption and adjacent beneath this level volition beryllium a immense antagonistic and the DOGE/USDT brace could diminution to $0.06.

Alternatively, if the terms turns up from the existent level, the buyers volition effort to propulsion the brace supra the moving averages. If they bash that, the brace could rally to the stiff overhead absorption astatine $0.17. A interruption and adjacent supra this level volition awesome that the bears whitethorn beryllium losing their grip.

DOT/USDT

Polkadot (DOT) plunged beneath the beardown enactment astatine $15.80 connected Feb. 24 but the bears could not prolong the little levels, arsenic seen from the agelong process connected the day’s candlestick. This indicates beardown buying astatine little levels.

The downsloping moving averages and the RSI successful the antagonistic territory bespeak that bears person a flimsy edge. The bears are apt to equine a beardown defence successful the overhead portion betwixt the 20-day EMA ($18.15) and the downtrend line.

If the terms turns down from this zone, the bears volition marque 1 much effort to propulsion and prolong the DOT/USDT brace beneath the beardown enactment astatine $15.80. If they succeed, the brace could driblet to $13.35.

This antagonistic presumption volition invalidate if the terms rises and sustains supra the 50-day SMA ($20.71). The brace could past emergence to the overhead absorption astatine $23.19.

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.

Market information is provided by HitBTC exchange.

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