Bitcoin has been trading between moving averages over the last two days.This suggests that the bulls are buying near the 50-day MA ($ 44,934) and the bears are resisting near the 20-day exponential moving average ($ 47,774).
Price movements in this narrow range are unlikely to last long.The 20-day EMA has begun to fall and the Relative Strength Index (RSI) has fallen into the negative territory, suggesting that the bears dominate.
If the bears cut below SMA for 50 days, BTC could fall to strong support at $ 42,451.67.The bulls will actively try to defend here. Below this, the trend will change.
Conversely, if bulls push BTC above the 20-day EMA, BTC will try to break through the $ 50,500- $ 52,920 resistance zone again.If we can break through this zone, the uptrend will resume.
ETH / USDT
The bulls have maintained the level of $ 3,377.89 over the past three days, Ethereum (ETH) can be over 20 days EMA ($ 3,464)could not。This suggests that there are bearish sales at higher prices.
The bears will try to reduce the price to $ 3,377.89 today and further to the key support of $ 3,000.The 20-day EMA has begun to fall and the RSI has fallen below 48. This suggests that the bears have a slight predominance.
If ETH rebounds from $ 3,000, it suggests there is a lower buy.After that, ETH will be in range for a few days.In order for the bulls to start rising to $ 4,000, they must first break through $ 3,567.06.
XRP / USDT
Bulls pushed XRP above the EMA ($ 1.16) for 20 days, but the long candlestick upper beard shows that it was selling hard at high prices.
The bears are trying to cut prices below SMA ($ 1) for 50 days.The 20-day EMA has fallen and the RSI is in the negative territory. This suggests that the bears dominate.
If the XRP price falls below the 50-day SMA, the XR could fall to $ 0.75.Conversely, if prices rebound from the 50-day SMA, bulls will try to push it above the 20-day EMA and keep it there.Be soFor example, XRP may rise from $ 1.35 to the resistance zone of $ 1.41.
The views and opinions expressed here are those of the author and do not necessarily reflect the views of Cointelegraph.All investment and trading movements carry risks.When making a decision, you need to do your own research.
Market dataHitBTCExchangeProvided byincrease.
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