Price predictions 2/16: SPX, DXY, BTC, ETH, BNB, XRP, SOL, DOGE, ADA, BCH

2 hours ago

Key points:

Bitcoin remains nether unit arsenic bears are selling connected rallies adjacent the $74,508 resistance
The bears are mounting a coagulated defence successful respective large altcoins astatine higher levels, indicating a antagonistic sentiment.

Bitcoin (BTC) has started the caller week connected a cautious enactment arsenic bulls effort to support the terms supra $67,500. Investors are not rushing successful to bargain the dip, arsenic seen from the $133.3 cardinal successful outflows from BTC exchange-traded products past week. The full outflows from crypto concern products person risen to $3.8 cardinal implicit the past 4 weeks, according to a CoinShares update connected Monday.

If BTC ends the period beneath $79,500, it volition grounds its first-ever consecutive antagonistic monthly closing successful January and February. With much than 22% loss, BTC is staring astatine its worst first-quarter show since the 49.7% nonaccomplishment successful 2018, per CoinGlass data.

Despite BTC’s anemic show and uncertain near-term direction, Strategy co-founder Michael Saylor indicated successful a station connected X that the company is buying much BTC. That volition beryllium Strategy’s 99th BTC transaction, showing their semipermanent bullish presumption remains intact.

Could BTC and the large altcoins support the enactment levels and commencement a beardown alleviation rally? Let’s analyse the charts of the apical 10 cryptocurrencies to find out.

S&P 500 Index terms prediction

The S&P 500 Index (SPX) is witnessing a pugnacious conflict betwixt the bulls and the bears astatine the enactment enactment of the ascending transmission pattern.

The moving averages are connected the verge of a bearish crossover, and the comparative spot scale (RSI) is successful the antagonistic territory, indicating that the bears are making a comeback. The scale whitethorn commencement a deeper correction to 6,720 and past to coagulated enactment astatine 6,550 if the terms breaks beneath the 6,780 level.

Buyers volition person to propel the terms supra the 7,002 level to clasp control. If they negociate to bash that, the scale whitethorn resume its uptrend and surge toward the 7,290 level.

US Dollar Index terms prediction

The US Dollar Index (DXY) has been trading beneath the moving averages, but the bears person failed to situation the 96.21 to 95.55 enactment zone.

The bulls volition effort to fortify their presumption by pushing the terms supra the moving averages. If they tin propulsion it off, the scale whitethorn rally to 99.49 and past to the overhead absorption astatine 100.54.

Contrarily, if the terms turns down sharply from the moving averages, it suggests that the bears proceed to merchantability connected rallies. The scale whitethorn the adjacent limb of the downtrend connected a adjacent beneath the 95.55 support.

Bitcoin terms prediction

Sellers are attempting to halt BTC’s betterment adjacent $71,000, indicating that the bears stay sellers connected rallies.

The sellers volition person to propulsion the terms beneath the $65,000 level to stay successful command. The BTC/USDT brace whitethorn past retest the captious $60,000 level. If the $60,000 enactment cracks, the adjacent halt is apt to beryllium $52,500.

Buyers volition person to thrust the Bitcoin terms supra the breakdown level of $74,508 to awesome that the bearish momentum is weakening. The brace whitethorn past surge toward the 50-day SMA ($83,910), wherever the bears are expected to equine a beardown defense.

Ether terms prediction

Ether (ETH) erstwhile again turned down from the $2,111 level connected Sunday, indicating that the bears are fiercely defending the level.

Sellers volition effort to propulsion the terms beneath the contiguous enactment astatine $1,897. If they bash that, the ETH/USDT brace whitethorn driblet to the $1,750 level. Buyers are expected to support the $1,750 level with each their might, arsenic a adjacent beneath it whitethorn descend the brace to $1,537.

Instead, if the Ether terms turns up and breaks supra the 20-day EMA ($2,221), it signals that the selling unit is reducing. The brace whitethorn past rally to the 50-day SMA ($2,744).

BNB terms prediction

BNB’s (BNB) alleviation rally fizzled retired astatine $642 connected Sunday, indicating that the bears are selling connected each insignificant rise.

The bears volition effort to summation their clasp by pulling the BNB terms beneath the $570 level. If they negociate to bash that, the BNB/USDT brace whitethorn widen its diminution to intelligence enactment astatine $500.

The bulls volition person to thrust the terms supra the 20-day EMA ($686) to suggest that the bears are losing their grip. The brace whitethorn past ascent to $730 and subsequently to the 50-day SMA ($817).

XRP terms prediction

XRP (XRP) turned up from the enactment enactment of the descending transmission signifier connected Friday and pierced the 20-day EMA ($1.53) connected Sunday.

However, the bears successfully defended the breakdown level of $1.61 and pulled the XRP terms backmost beneath the 20-day EMA. The bulls are improbable to springiness up easy and volition marque different effort to wide the $1.61 level.

If they succeed, the XRP/USDT brace whitethorn emergence to the 50-day SMA ($1.81). Such a determination suggests that the brace whitethorn stay wrong the transmission for immoderate much time.

Sellers volition person to tug the terms beneath the enactment enactment to summation the precocious hand. The brace whitethorn past retest the Feb. 6 debased of $1.11.

Solana terms prediction

Buyers are attempting to propulsion Solana (SOL) backmost supra the breakdown level of $95, but the bears person held their ground.

The Solana terms whitethorn commercialized wrong the $76 to $95 scope for immoderate time. Such a determination increases the likelihood of an upside breakout. The SOL/USDT brace whitethorn past rally toward $117.

This affirmative presumption volition beryllium negated successful the adjacent word if the terms turns down and breaks beneath the $76 support. The brace whitethorn past retest the Feb. 6 debased of $67, wherever the buyers are expected to measurement in.

Dogecoin terms prediction

Dogecoin (DOGE) turned down from the breakdown level of $0.12 connected Sunday, indicating that the bears are defending the level.

The 20-day EMA ($0.10) is flattening out, and the RSI is conscionable beneath the midpoint, signaling a imaginable range-bound enactment successful the adjacent term. The DOGE/USDT brace whitethorn plaything betwixt $0.08 and $0.12 for a fewer days.

Buyers volition summation the precocious manus connected a adjacent supra the $0.12 resistance. That opens the doors for a rally to $0.16. Alternatively, the vantage volition tilt successful favour of the bears connected a adjacent beneath $0.08. The Dogecoin terms whitethorn past slump to $0.06.

Cardano terms prediction

Cardano’s (ADA) alleviation rally reached the 20-day EMA ($0.29) connected Saturday, which is expected to enactment arsenic a stiff hurdle.

If the bulls bash not springiness up overmuch crushed to the bears, the anticipation of a interruption supra the 20-day EMA increases. That suggests the ADA/USDT brace whitethorn stay wrong the descending transmission for immoderate much time. A interruption and adjacent supra the downtrend enactment signals a imaginable short-term inclination change.

Sellers volition person to propulsion the Cardano terms beneath the enactment enactment to widen the downward determination toward the adjacent enactment astatine $0.20.

Bitcoin Cash terms prediction

Bitcoin Cash (BCH) surged supra the 20-day EMA ($544) connected Friday, indicating that the bears are losing their grip.

The betterment is facing absorption astatine the 50-day SMA ($578), but a affirmative motion is that the bulls person not allowed the Bitcoin Cash terms to gaffe backmost beneath the 20-day EMA. That increases the likelihood of the continuation of the alleviation rally. If buyers pierce the 50-day SMA, the BCH/USDT brace whitethorn scope $600.

Sellers volition person to swiftly yank the terms beneath the 20-day EMA to use unit connected the bulls. The brace whitethorn past skid to the $500 support.

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