Here are the Buy-Sell Levels for Bitcoin, DOGE and These 8 Altcoins!

Bitcoin: Altcoins including Bitcoin and DOGE are facing profit booking after the recent relief rally. But the charts show that a revisit to recent volatility lows is possible. So, can the bulls continue their buying on the declines and create a higher bottom? To find out, crypto analyst Rakesh Upadhyay takes a look at the technical views of the top 10 cryptocurrencies.

An overview of the crypto market

According to a report by on-chain analytics firm Glassnode, Bitcoin’s (BTC) current bear market is one of the worst. Because for the first time in history, it fell below the Mayer Multiple’s previous cycle low.

Bitcoin’s hit below $20,000 on June 18 was the biggest loss ever recorded by investors, with $4.23 billion in a single day. Glassnode believes that the capitulation in Bitcoin may have begun considering the above factors and a few other events.

Daily cryptocurrency market performance / Source: Coin360

on the other hand AmkNews.comAs you can follow from , Bitcoin whales seem to have started their purchases. This shows that the bottom may be near, according to analysts. Analytical resource ‘Game of Trades’ highlighted that demand from whales holding 1,000 to 10,000 Bitcoins on June 25 witnessed a sharp increase in demand.

According to Glassnode, the 30-day average change in supply held on exchanges dropped by 153,849 BTC on June 26, the largest in history. This is another sign that trades are buying. Now let’s look at the technical views…

BTC, ETH, BNB, XRP and ADA analysis

Bitcoin (BTC)

Bitcoin dropped from $22,000 on June 26. This shows that sentiment is negative and traders are selling on small rallies. The bears will try to bring the price down to $20,000 psychologically.

btc

If the price rises to $20,000, it indicates that the bulls are piling up on the dips. It is possible that this could hold BTC between $20,000 and $22,000 for a few days. The first sign of strength will be a break and close above the 20-day exponential moving average (EMA) ($22,890). This is likely to open the doors for a possible rally from the $24.693 high to the 50% Fibonacci retracement level.

Also, it is possible that this level will act as a resistance again. However, if the bulls break the barrier, BTC could rise to the 50-day simple moving average (SMA) ($27,150). The bulls will have to push the price above this level to indicate that BTC may have bottomed out.

Ethereum (ETH)

Ethereum reached the 20-day EMA ($1,300) on June 26. However, the bulls failed to push the price above the resistance. This suggests that bears are not willing to give up their advantage so easily.

eth

If the price declines from the current level, the bears will try to push ETH to $1,050. This is an important level to watch out for. Because a break below this is possible to indicate that the bears are in control.

Conversely, if the price rebounds from the current level or $1,050, the bulls will try to push ETH above the 20-day EMA. If they do, ETH is likely to rally to the $1,700 breakout level. A break and close above this resistance could indicate the start of a new uptrend.

Binance Coin (BNB)

BNB has been holding on to the 20-day EMA ($241) since June 24. This shows that the bears are holding the level, but the bulls have not given up yet as they expect a higher move.

bnb

If the buyers price rises above the 20-day EMA, a rise to the 50-day SMA ($277) is possible for BNB. This level is likely to act as a hard hurdle again. However, if exceeded, BNB could attempt a rally towards $350.

Conversely, if the price drops from the current level, a drop to $211 is possible for BNB. This is an important level to consider. Because a rebound will indicate that the bulls are attempting to form a higher low. However, if the level is broken, BNB is likely to retest the vital support at $183.

Ripple (XRP)

Ripple broke above the overhead resistance at $0.35 on June 24 and closed. However, the bulls failed to break through the barrier at the 50-day SMA ($0.38). This indicates that the bears are aggressively defending the level.

xrp

A minor positive is that the bulls are not allowing the price to drop below the 20-day EMA ($0.35). This suggests buying on the dips. If the price bounces back from the current level, the bulls will try to push the price back above the 50-day SMA.

If they can achieve this, it will suggest that the downtrend may weaken. It is possible for XRP to rally to $0.45 later. Another possibility is for bears to push the price below $0.35. If this happens, XRP is likely to drop to $0.32 and then to $0.28.

Cardano (ADA)

Buyers pushed Cardano (ADA) above the 20-day EMA ($0.50) on June 26. However, the long wick on the candlestick indicates that the bears are aggressively selling higher.

island

A small positive is that the bulls are not giving up on the floor and are again trying to break through the overall hurdle in the moving averages. If successful, it is possible for ADA to rally to $0.70, where the bears can again form a strong defense.

If the price drops sharply from this level, the ADA will suggest it stays borderline between $0.40 and $0.70 for a while. This positive sentiment is likely to be invalidated in the short term if the price declines from the current level and remains below $0.44. This, too, is possible to pull ADA to $0.40.

SOL, DOGE, DOT, SHIB and AVAX analysis

Solana (SOL)

Solana has been stuck between the moving averages since June 24. This indicates that bears are selling on rallies to the 50-day SMA ($43) and bulls are buying on dips to the 20-days EMA ($38).

DOGE

The moving averages are near a bullish cross and the relative strength index (RSI) is near the midpoint. This indicates that the bulls are trying to bounce back. If the buyers push the price above the 50-day SMA, the SOL is likely to rise to $60.

On the other hand, this level is likely to act as a tough resistance again. But if the bulls break this hurdle, the momentum could increase. Conversely, if the price declines and dips below the 20-day EMA, it indicates that the bears have beaten the bulls. It is possible for SOL to slide to $33 later.

Dogecoin (DOGE)

DOGE broke above the 20-day EMA ($0.07) and closed on June 25. Buyers extended the recovery on June 26 and pushed the price to the 50-day SMA ($0.08). However, the long wick on the candlestick indicates that the bears are fiercely defending the level.

DOGE

DOGE buyers are again trying to push the price above the 50-day SMA. If they do, the DOGE could rally to $0.09 and then the psychological $0.10 level. However, it is possible that this level will act as a resistance again. But if the bulls break this hurdle, the momentum is likely to increase.

Alternatively, if DOGE price fails to stay above the 50-day SMA, it will indicate that the bears continue to sell in rallies. The bears will then try to push the price below the 20-day EMA.

Polkadot (DOT)

The bears have been aggressively defending the 20-day EMA ($8.11) on Polkadot since June 24. But a positive sign is that the bulls are not giving up much ground. A tight consolidation near a resistance is usually resolved to the upside.

DOGE

If the buyers push the price above the 20-day EMA, a rally to the 50-day SMA ($9.13) is possible. However, this level is likely to act as a hurdle again. But there is a high probability of a break above it. If this happens, DOT is likely to rally to $10.75.

Contrary to this assumption, if the price drops from the 20-day EMA, it will indicate that the bears are active at higher levels. Sellers will then try to push the DOT below $7.30. It will also push the important support at $6.36.

Shiba Inu (SHIB)

The Shiba Inu broke above the 50-day SMA ($0.000011) on June 25. However, the bulls failed to continue their recovery. The bears sold around $0.000012 on June 26 and are trying to push the price below the 50-day SMA.

DOGE

The 20-day EMA ($0.00010) has started to rise gradually and the RSI is in the positive territory. This suggests that buyers have a slight advantage. If the SHIB bounces back from the current level or the 20-day EMA, the bulls will try to sustain the upward move again.

If the price rises above $0.000012, it is possible for SHIB to rise to the overhead resistance at $0.000014. This positive view is likely to be rejected in the short term if the price declines and dips below the 20-day EMA.

Avalanche (AVAX)

Avalanche has been stuck in a narrow range since June 25 between the 20-day EMA ($20) and overhead resistance at $21.35. This signals indecision between the bulls and bears.

DOGE

The 20-day EMA has flattened out and the RSI is just below the midpoint, which indicates an equilibrium between buyers and sellers. If the bulls push the price above $21.35, a rise to the 50-day SMA ($25) is possible for AVAX. On the other hand, this level is likely to act as a minor hurdle. However, if surpassed, AVAX is likely to rise to $30.

This positive view will be invalidated in the short term if the price breaks from the current level or the 50-day SMA and dives below the 20-day EMA. It is also likely that this will open the doors for a possible drop to $16.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.