Bitcoin (BTC) has been stuck in a trading range, moving between support and resistance levels. The cryptocurrency has been gradually declining towards its support, indicating that bears may attempt to push the price below the range and take control. Bitcoin whales, who hold large amounts of BTC, have become cautious and have reduced their transactions exceeding $100,000. This shift in behavior suggests a decrease in bullish sentiment. However, long-term investors see the dip in price as an opportunity to buy. In fact, investment firm Metaplanet plans to issue bonds worth one billion yen to raise funds for buying Bitcoin.
The S&P 500 Index is currently in an uptrend, with profit booking occurring at higher levels. The correction is expected to be short-lived, and as long as the index remains above the 20-day exponential moving average, the bulls will remain in control. A break above a key level could propel the index even higher. On the other hand, if the bears want to make a comeback, they will have to push the price below the 20-day EMA.
The U.S. Dollar Index (DXY) recently bounced off the 50-day simple moving average and rose above a key resistance level. However, sustaining the breakout has proven difficult for the bulls. The price has fallen back below the resistance level, and buyers need to hold their ground to improve the chances of a further rise. A rally could potentially lead to higher levels.
Bitcoin’s price has turned down after failing to break above a key level. The moving averages have signaled a bearish trend, and the bears are currently in control. The price could potentially drop to a solid support level, where buyers are expected to step in. However, a relief rally may face selling pressure at the 20-day EMA. A break and close above the moving averages would indicate strength and could lead to a rally.
Ether (ETH) has experienced a downside break, with the bears in command. The price is expected to sink to psychological support levels, where buyers are likely to be aggressive. A break above a key moving average would suggest a weakening of the bearish pressure and could lead to an upward movement.
BNB has been sliding towards immediate support, indicating that bears are maintaining their selling pressure. If the bulls can defend the support level and push the price higher, a recovery to a key moving average is possible. However, if the price turns down from the moving average, a break below support could lead to a further decline.
Solana (SOL) has seen the bears flip the support line into resistance, preventing a return to the descending channel pattern. The bears have increased selling pressure, and the price may drop to critical support levels. Buyers are expected to step in at these levels, but a recovery is likely to face resistance at a key moving average.
XRP has been oscillating between a critical support level and a key moving average, with bears having the upper hand. If support breaks, the price could drop further, but buyers are expected to defend the zone. A break above the moving average would signal strength and could lead to a rally.
Toncoin (TON) has faced strong resistance from bears, and a break below a support level could complete a bearish pattern. This could lead to a decline in price, but if the bulls continue to buy on dips, the price may remain stuck between a key moving average and resistance level.
Dogecoin (DOGE) has seen increased selling pressure, and a sustained price below support could indicate bearish dominance. The price could potentially drop to a psychological support level, with buyers attempting to defend it. A break above a key moving average would invalidate the negative view.
Cardano (ADA) has been trading within a range, with buying at lower levels and selling on rallies. The bears are currently in control, with a potential drop to a support level. To prevent further downside, bulls need to push the price above the moving averages.
Please note that this article does not provide investment advice or recommendations. It is important for readers to conduct their own research before making any investment decisions.