cryptomines

cryptomines

Here are 5 top cryptocurrencies to observe this week: BTC, AVAX, MATIC, EGLD, MANA

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Bitcoin’s hard time, Altcoin’s proud time

Bitcoin (BTC) is having a hard struggle near the $58,000 mark, however this falling in price did not stop selected altcoins from hitting a new all-time high. This indicates that traders are watching the essential developments on individual coins.
Avalanche (AVAX) is one of the recent best performing major altcoins, that it had soared more than 120% in November. This coin had and has traders’ attention and focus. There was an announcement by accounting firm Deloitte. They said that they have plans to make their disaster relief platforms on the Avalanche blockchain.

What happens if the price falls

If the price falls down from the current level, the bears will try to expand the correction by pulling the BTC/USDT pair under $55,600. If that occurs, the next stop could be the strong support zone at $52,500 to $50,000.
Presuming the price returns to this zone, the bulls will try to push the pair above the moving averages and the downtrend line.
A movement like this one, will show that the corrective phase might be over. Then the bulls will attempt to ride the price above the all-time high at $69,000.
As an alternative, a break under the psychological support at $50,000 can amplify selling as traders rush to the exit. Then the pair can fall to $45,000 and later to $40,000.

What EMA shows

The rising 20-day EMA (96) shows that bulls have the control but the RSI near 80 offers that the rally may be overheated in a close term. This could lead to a minor correction or stabilization in the near future, as next few days.
Should the price falls down from the current level, $110 and then the 20-day EMA may play the role as a strong support. A keen bounce back off either level will show that the bulls are checking the dips as a buying chance. Then the pair can go toward the 261.8% Fibonacci extension level at $175.58.
On the other hand of what we said, if the price breaks under the 20-day EMA, it will show that traders are rushing to the exit. That can pull the AVAX/USDT pair to $81.

The bears

The bears again successfully supported the resistance line on Nov. 3. This begun the downward ride toward the trendline of the channel. The downsloping 20-day EMA ($1.69) and the RSI just under the midpoint shows a minor benefit to sellers and traders.
If the price falls down from the current level, the MATIC/USDT pair can fall to the trendline. The analysts anticipated that the bulls are here defend this level aggressively. If the price bounces back off the trendline and increases above the 20-day EMA, it will show that the selling pressure may be declining. That may signal the begin of the northward journey toward the resistance line.
On the other hand, if bears drop the price under the trendline, it can lead to a decrease to the psychological support at $1.

The resumed the uptrend

This resumed the uptrend and the EGLD/USDT pair got to the point near its pattern target at $427. The sharp rally pressed the RSI far down into the overbought zone. This is showing that a small stabilization or correction can be nearby.
The first support on the downside is the breakout level at $338.70 and then the 20-day EMA ($325). If the price bounces back from either level, it will show that traders keep buying on dips. Then the bulls will attempt to resume the uptrend with the next target objective at $500.
This positive view can be canceled if the price falls and plummets below the breakout level at $303.

The MANA/USDT

The MANA/USDT pair may fall now into the instant support at $3.50 and if this level vanished, the correction has the ability to deepen to the 20-day EMA ($3.11). If the price bounces back from either support, it will show that sentiment stays positive and traders are buying on dips.
Then the bulls will try to push the price to $4.36. A break and close above this resistance might open the doors for a rally to $4.94. This positive view will show if the price keeps getting lower and breaks under the 20-day EMA.

Upward channel pattern

The pair has been increasing inside a leading upward channel pattern. The setback of the bulls to push the price above the resistance line may result in selling from traders, pulling the price below the 20-EMA.
Each moving averages have evened and the RSI has dipped near the midpoint. This shows that the bullish momentum might get weaker. Then the pair can fall to the trendline of the channel where buying can appear.
If the price bounces back from the trendline, the pair can keep having its up-move inside the channel. Then, after that, the buyers will attempt to push the price to the resistance line. The bullish momentum can pick up on a break and close above the channel.

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