Price predictions 2/23: SPX, DXY, BTC, ETH, XRP, BNB, SOL, DOGE, BCH, ADA

2 hours ago

Bitcoin’s (BTC) weakness extended into the play unfastened arsenic large stocks sold disconnected successful effect to US President Donald Trump’s menace to enforce a 15% planetary tariff aft the Supreme Court ruled that his IEEPA tariffs were illegal.

Market sentiment remains fragile, arsenic the Crypto Fear & Greed Index at 5 retired of 100 remains successful the “extreme fear” zone. Pseudonymous trader and capitalist BitcoinHyper said successful a station connected X that the scale has been successful the extreme fearfulness portion for astir 3 weeks, the longest since 2022.

Traders connected the prediction marketplace Polymarket person accrued the likelihood of BTC falling beneath $55,000 to 72%. The prediction marketplace expectations matches respective analysts and fiscal institutions who expect a autumn adjacent oregon beneath $55,000.

While a bottommost whitethorn not person formed, expectations are that BTC volition yet retrieve and determination higher. Economist Timothy Peterson said successful a station connected X that BTC has been affirmative 50% of the clip successful the past 24 months. Using a statistical model, Peterson estimated that determination is an 88% accidental that BTC “will beryllium higher 10 months from now.”

Could buyers support the enactment levels successful BTC and the large altcoins? 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) has been trading betwixt 6,775 and 7,002 for respective days, indicating a equilibrium betwixt proviso and demand.

The level moving averages and the comparative spot scale (RSI) adjacent the midpoint bash not springiness a wide vantage either to the bulls oregon the bears. Buyers volition person to execute a adjacent supra the 7,002 absorption to awesome the resumption of the uptrend. The scale whitethorn past ascend to the 7,290 level.

This bullish presumption volition beryllium invalidated successful the adjacent word if the terms turns down and breaks beneath the 6,775 level. The scale whitethorn past tumble to the coagulated enactment astatine the 6,550 level.

US Dollar Index terms prediction

The US Dollar Index (DXY) turned down from the 50-day elemental moving mean (97.95) connected Friday, indicating that the bears are aggressively defending the level.

Sellers are attempting to descend and support the scale beneath the 20-day exponential moving mean (97.48). If they negociate to bash that, the scale mightiness descent to the 96.21 to 95.55 enactment zone.

Buyers are apt to person different plans. They volition effort to halt the pullback and propulsion the terms supra the 50-day SMA. If they tin propulsion it off, the scale whitethorn leap toward the 99.50 level and subsequently to the 100.54 resistance.

Bitcoin terms prediction

BTC fell beneath the $65,118 enactment connected Monday, but the bulls are attempting to support the level connected a closing basis.

Any alleviation rally is expected to look selling astatine the 20-day EMA ($70,185). If the Bitcoin terms turns down sharply from the 20-day EMA, it increases the likelihood of a driblet to the captious $60,000 support. Buyers volition person to support the $60,000 level with each their might, arsenic a interruption beneath it whitethorn descend the BTC/USDT brace to $52,500.

Buyers volition person to propel the terms supra the 20-day EMA to awesome request astatine little levels. The brace whitethorn past march to the $74,508 level, wherever the bears are again apt to airs a beardown challenge.

Ether terms prediction

Ether (ETH) fell beneath the adjacent enactment astatine $1,897 connected Monday, opening the doors for a retest of the $1,750 level.

The downsloping moving averages and the RSI adjacent the oversold territory heighten the hazard of a breakdown. If the $1,750 level is taken out, the ETH/USDT brace whitethorn resume the downtrend toward the adjacent enactment astatine $1,537.

Contrarily, if the Ether terms turns up sharply from $1,750, it suggests request astatine little levels. That whitethorn support the brace wrong the $1,750 to $2,111 scope for a portion longer. A adjacent supra $2,111 volition beryllium the archetypal motion of strength, clearing the way for a rally to the 50-day SMA ($2,593).

XRP terms prediction

XRP (XRP) has been trading betwixt the enactment enactment of the descending transmission signifier and the 20-day EMA ($1.47) for the past fewer days.

The downsloping 20-day EMA and the RSI successful the antagonistic territory bespeak that the bears stay successful control. If the enactment enactment cracks, the XRP/USDT brace whitethorn retest the Feb. 6 debased of $1.11. A interruption and adjacent beneath the $1.11 level whitethorn widen the diminution to intelligence enactment astatine $1.

Buyers person an uphill task up of them. They volition person to swiftly propel the XRP terms supra the downtrend enactment to awesome a imaginable inclination change.

BNB terms prediction

BNB (BNB) fell beneath the contiguous enactment astatine $587 connected Monday, but the agelong process connected the candlestick shows buying astatine little levels.

The bulls volition effort to commencement a recovery, which is expected to look selling astatine the 20-day EMA ($651). If the terms turns down from the 20-day EMA, the bears volition again strive to propulsion the BNB/USDT brace beneath the $570 level. If they negociate to bash that, the BNB terms whitethorn commencement the adjacent limb of the downtrend to intelligence enactment astatine $500.

Contrary to this assumption, if buyers pierce the 20-day EMA, the brace whitethorn rally to the breakdown level of $730.

Solana terms prediction

The nonaccomplishment of the bulls to propulsion Solana (SOL) to the breakdown level of $95 signals that the bears are progressive astatine higher levels.

Sellers volition effort to fortify their presumption by pulling the Solana terms beneath the $76 level. If they succeed, the SOL/USDT brace whitethorn autumn to the Feb. 6 debased of $67, which is simply a captious enactment to ticker retired for. If the level gives way, the brace whitethorn slump to $60.

Any alleviation rally is expected to look absorption astatine the 20-day EMA and past astatine the $95 level. A adjacent supra the $95 level suggests that the sellers are losing their grip. The brace whitethorn past surge to $117.

Dogecoin terms prediction

Dogecoin (DOGE) turned down from the 20-day EMA ($0.10) connected Saturday and is apt to driblet to the Feb. 6 debased of $0.08.

The bulls are expected to fiercely support the $0.08 level, arsenic the nonaccomplishment to bash truthful whitethorn commencement the adjacent limb of the downward spiral toward $0.06.

The 20-day EMA remains the contiguous near-term absorption to ticker retired for. A adjacent supra the 20-day EMA volition beryllium the archetypal motion that the selling unit is reducing. The DOGE/USDT brace whitethorn past ascend to the breakdown level of $0.12, wherever the bears are expected to equine a beardown defense.

Bitcoin Cash terms prediction

Buyers pushed Bitcoin Cash (BCH) supra the 50-day SMA ($571) connected Sunday but could not prolong the higher levels.

The bears sold aggressively and person pulled the Bitcoin Cash terms beneath the 20-day EMA ($551). If the terms maintains beneath $538, the BCH/USDT brace mightiness plummet to the beardown enactment astatine $500. Buyers are expected to aggressively support the $500 level, arsenic a adjacent beneath it whitethorn descend the brace to $443.

Buyers volition person to thrust and support the terms supra the 50-day SMA to awesome strength. The brace whitethorn past ascent to $600.

Cardano terms prediction

Despite repeated attempts, buyers failed to propulsion and support Cardano (ADA) supra the 20-day EMA ($0.28) successful the past fewer days.

That increases the likelihood of a driblet to the enactment enactment of the descending transmission pattern. If the terms rebounds disconnected the enactment enactment and breaks supra the 20-day EMA, it suggests that the ADA/USDT brace whitethorn stay wrong the transmission for immoderate much time.

Instead, if the Cardano terms continues little and breaks beneath the enactment line, it indicates the resumption of the downtrend. The brace whitethorn past plunge toward $0.15. A short-term inclination alteration volition beryllium signaled aft buyers wide the overhead hurdle astatine the downtrend line.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision. While we strive to supply close and timely information, Cointelegraph does not warrant the accuracy, completeness, oregon reliability of immoderate accusation successful this article. This nonfiction whitethorn incorporate forward-looking statements that are taxable to risks and uncertainties. Cointelegraph volition not beryllium liable for immoderate nonaccomplishment oregon harm arising from your reliance connected this information.

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