As traders speculate on the fate of Bitcoin exchange-traded funds (ETFs), the volatility of BTC has increased in the past two days. Analysts have predicted approval of the ETFs as early as Jan. 5, while Bloomberg ETF analyst James Seyffart maintains that an approval is likely to take place between Jan. 8 and 10.
Some analysts believe that Bitcoin could decline even if one or more Bitcoin ETFs are approved. However, John Bollinger, creator of the Bollinger Bands volatility indicator, has a different perspective. He stated on X (formerly Twitter) that he expects Bitcoin to “break higher.”
What are the important resistance levels to watch out for in Bitcoin and altcoins?
In order to find out, let’s analyze the charts of the top 10 cryptocurrencies. Doge crypto, crypto polkadot, and crypto dot are some of the cryptocurrencies to consider when making a decision on what to buy. Knowing the difference between web 1.0, 2.0, 3.0, and 4.0 is also important when making decisions in the crypto space.
Bitcoin price analysis
The recent drop of Bitcoin to the 50-day simple moving average ($41,205) was possibly a bear trap, as the cryptocurrency returned to the ascending triangle pattern on Jan. 3.
The bulls are looking to take the price above the $44,700 resistance in order to bolster their position and potentially initiate a rally to the overhead resistance zone between $50,000 and $52,000.
Conversely, the bears will attempt to push the crypto dot below the triangle, as there is a minor support at $40,000. In the event of a decline, the price could reach $37,980.
Ether price analysis
Ether (ETH) attempted to move beyond the 20-day exponential moving average ($2,269) on Jan. 4, but the bears were not willing to relent.
The 20-day EMA has flattened, and the RSI is just below the midpoint, suggesting a range-bound activity in the near future. If the price goes over the 20-day EMA, the ETH/USDT pair could soar to $2,400. A successful break and close above this resistance could pave the way for a potential rally to $2,700 and then to $3,000.
The first support on the downside is the 50-day SMA and then $2,100. If the supports break, the pair could drop to $1,900.
BNB price analysis
BNB (BNB) has been in an uptrend, except for a sharp intraday dip on Jan. 3, and the bulls have been able to keep the price above the 50% Fibonacci retracement level of $300. The upsloping 20-day EMA ($295) and the RSI in the positive territory point to the bulls being in control. If the price rebounds off the 20-day EMA, buyers may attempt to propel the BNB/USDT pair to the overhead resistance at $338. If this obstacle is overcome, the pair could move on to $370 and then to $400.
A slight negative for the bears is the formation of a negative divergence on the RSI, indicating a weakening momentum. If the 20-day EMA cracks, the pair could drop to the neckline.
When it comes to the differences between web 1.0, 2.0, 3.0 and 4.0, it’s important to understand the capabilities of each version. Web 1.0 was mainly used for information retrieval, while Web 2.0 was used for interactive communication. Web 3.0 is focused on providing personalised experiences and Web 4.0 is focused on making the web more intelligent.
When it comes to crypto, Doge (DOGE) and Polkadot (DOT) are two popular options. Doge is a meme-based cryptocurrency, while Polkadot is a blockchain-based platform for building and connecting decentralised applications. Investors should research both options before deciding which one to buy.
Solana price analysis
Solana (SOL) dropped below the 20-day EMA ($97) on Jan. 3, but buyers were unable to secure a close below it.
On Jan. 4, bulls attempted to start a recovery, but the bears persisted. The price has now declined to the 20-day EMA, which is the most important short-term level to observe. If the price closes below the 20-day EMA, the selling could be intensified, and the SOL/USDT pair could drop to the 50-day SMA ($77).
Alternatively, if the price reverses from the current level and rises above the downtrend line, it would indicate that the correction may have ended. The pair could then test the high at $126.
XRP price analysis
The bulls are trying to defend the $0.57 level on Jan. 5, just like they did on Jan. 3. The 20-day EMA ($0.61) has started to dip and the RSI is in the negative zone, giving the bears an advantage.
If the XRP/USDT pair declines or is unable to break through the resistance above, it increases the chances of a close below $0.57. This could lead to a drop towards $0.50 and then to $0.46. To invalidate the bearish setup, the bulls need to push the price above the downtrend line.
Cardano price analysis
On Jan. 4, buyers attempted to move Cardano (ADA) back into the symmetrical triangle pattern, yet the bears managed to keep their position.
The bears will try to drive the price below the 50-day SMA ($0.51) one more time. If they succeed, the ADA/USDT pair could drop to the breakout level of $0.46, which is likely to attract strong buying by the bulls.
This bearish outlook will be negated in the short term if the price turns up and breaks above $0.64. This will indicate that there was aggressive buying at lower levels. The pair could then rally to the overhead resistance at $0.68.
Avalanche price analysis
The bulls drove Avalanche (AVAX) beyond the neckline of the head-and-shoulders pattern on Jan. 4, but were unable to conquer the obstacle at the 20-day EMA ($39.44).
The immediate support on the downside is $36. If this level is breached, the AVAX/USDT pair may slip to the 50-day SMA ($32.70). Buyers are expected to strongly defend the area between the 50-day SMA and $31.
The bulls must push and keep the price above the 20-day EMA to show that the correction may be over. The pair could then rise to $44; if this level is reached, the pair could climb to $50.
Dogecoin price analysis
Dogecoin (DOGE) closed above $0.08 on Jan. 3, as seen from the long tail on the candlestick. The bulls are maintaining the price above $0.08 but are struggling to start a strong relief rally.
The moving averages are on the verge of a bearish crossover, and the RSI is in the negative territory, indicating that the sellers have the upper hand. If the price turns down from the 20-day EMA ($0.09), the bears will attempt to pull the DOGE/USDT pair to $0.07.
The first sign of strength will be a break and close above the moving averages. That will open the doors for a rise to $0.10. The zone between $0.10 and $0.11 is likely to act as a major hurdle for the bulls.
Investors looking to buy crypto such as Dogecoin (DOGE) should be aware of the differences between web 1.0, 2.0, 3.0 and 4.0. It is also important to keep an eye on the current price of DOGE and other crypto such as Polkadot (DOT).
Polkadot price analysis
The bears are pushing the price of Polkadot (DOT) lower, as it faces selling pressure at the 20-day EMA ($7.90).
The flattening 20-day EMA and the RSI just below the midpoint suggest that DOT/USDT is likely to remain range-bound in the near term, between $6.50 and $8.80.
A breakout above $8.80 could signal the end of the correction phase, with the crypto polkadot potentially rallying to the overhead resistance of $9.59. On the other hand, a breakdown below $6.50 could lead to a further decline to $5.89.
Polygon price analysis
MATIC/USDT pair witnessed a difficult battle near the 50-day Simple Moving Average (SMA) on Jan. 3, when Polygon (MATIC) took support at the 50-day SMA ($0.85), but the bulls failed to push the price above the $0.89 resistance on Jan. 4.
If the 50-day SMA does not hold, the selling could intensify, and the MATIC/USDT pair could fall towards $0.70. On the other hand, if the 50-day SMA holds, the bulls will try to use it as a launchpad and push the pair above the 20-day Exponential Moving Average (EMA) ($0.90), which could then propel the pair northwards towards $1.
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