Price analysis 1/14: BTC.ETH.BNB. SOL. ADA.XRP.XLUNA.DOT.AVAX. DOGE.

Bulls are buying every dip, while bears are selling the top rally, suggesting that BTC/altcoins will be range bound for some time.
Bitcoin (BTC), and most major altcoins, are seeing selling at higher levels and buying when the market dips, which indicates the possibility of a range formation. Whalemap, an on-chain analysis firm, said that Bitcoin (BTC) and most major altcoins are facing selling at higher levels and buying on dips. This suggests the possibility of a range formation. Source: Coin360Switzerland-based financial institution SEBA Bank CEO Guido Buehler said in a recent interview that if the right counterparties and necessary regulations are in place, asset pools at SEBA may invest in Bitcoin at the right time. Buehler painted a bullish view of Bitcoin, stating that a rally to $75,000 is possible. In the short-term, will Bitcoin and major altcoins be range bound? Let’s look at the charts of the top 10 cryptocurrencies. Bitcoin/USDTBitcoin fell below the 20-day exponential moving median ($44,681) Jan. 13, indicating that bears continue selling on rallies. The bears will now try to bring the price back up to $39,600. BTC/USDT daily chart. Source: TradingViewBoth the moving averages are sloping downward and the relative strength indicator (RSI) has moved to negative territory. This indicates that the path of least resistance towards the downside is the one. The BTC/USDT pair could fall to $30,000. If sellers fail to sustain the price below $39600, it could cause a further decline to $30,000. However, the bulls are unlikely not to give up at $39600. A strong rebound from the current level or at $39,600 will indicate accumulation at lower levels. For a few days, the pair could remain range-bound between $39 600 and $45,456. The first sign that the correction is over will be a break and close above $45,456. The pair could then start its northward march toward $52,088.ETH/USDTEther’s (ETH) rebound off the support line of the descending channel on Jan. 10 could not even reach the 20-day EMA ($3,485) which suggests that demand dries up at higher levels.ETH/USDT daily chart. Source: TradingViewThe moving Averages are dropping and the RSI is at 40, which suggests that bears control. The sellers will attempt to bring the price to $3,000, the psychological level, and the support line. A break below $2,652 would signal the beginning of the next leg in the downtrend. On the other hand, if the price rises from the current level, bulls will attempt to push the ETH/USDT pairs above the 20-day EMA. If they succeed, the pair may rise to the resistance line and then to the 50-day simple move average ($3,893). To signal that the downtrend is over, the bulls will need to push the price higher than the resistance line ($487). However, the bulls have not lost much ground. This suggests that traders aren’t rushing to the exit. Daily chart of BNB/USDT Source: TradingView. If the price breaks above 20-day EMA, bulls will attempt to clear the overhead hurdle at downtrend line. If they are able to pull it off, the BNB/USDT pairing will indicate a possible change of trend. The pair could then attempt a rally up to $617. Conversely, if price falls below the 20-day EMA, or the downtrend line it will indicate that bears are selling on rallies. This could keep the pair inside the channel for a few days more. SOL/USDTSolana reached the 20-day EMA ($157), on Jan. 13, but the bulls were unable to clear this overhead hurdle. This indicates that the bears are not giving up and are still selling rallies. SOL/USDT daily charts. Source: TradingViewThe bears are now trying to reverse the downtrend by lowering the price below $130. If they succeed, the SOL/USDT price could fall to $116 as the next support. To signal a possible change in trend, the downsloping moving Averages and the RSI within the negative territory suggest that the path of least resistance is to its downside. However, if the price rises beyond the 20-day EMA, then the pair could rally to resistance at $116. To signal a change in trend, the bulls will need to push the pair higher than the channel. ADA/USDT Cardano ADA (ADA) declined from the 50-day SMA ($1.35) Jan. 13, but the bulls didn’t allow the price below the $1.18 support. This indicates that bulls are buying dips. Daily chart of ADA/USDT Source: TradingView. The bulls will now try to push the price higher than the 50-day SMA. If they succeed, the ADA/USDT currency pair could rally to resistance at the descending channel. A break or close above the channel could signal that the downtrend is over. However, bears will continue to sell rallies if the price falls below the 50-day SMA. The sellers will attempt to bring the price below $1.18 and pull it to the critical support at $1.XRP/USDTRipple(XRP) was down from the 20-day EMA ($0.80 on Jan. 13, but a minor plus is that bulls didn’t allow the price below $0.75. This is an indication of accumulation at lower levels. XRP/USDT daily charts. Source: TradingView If bulls push the price above the moving Averages, it could indicate that bears are losing their grip. The overhead resistance at $1 could see the XRP/USDT currency pair rise. The pair could then remain range-bound between $1.75 and $0.75 for a few days if the price drops below this level. A break and close above $1 will signal the start of an up-move toward $1.41.Conversely, if the price turns down from the 20-day EMA, the bears will attempt to pull the pair below the $0.75 to $0.69 support zone and resume the downtrend to $0.60.LUNA/USDTTerra’s LUNA token broke and closed above the resistance line of the channel on Jan. 12. The bears attempted to lower the price below the $20 EMA ($78.61) Jan. 13, but failed. This indicates that bulls are defending the support aggressively.LUNA/USDT daily chart. Source: TradingView. The buyers are trying to push the price above the channel, and the overhead resistance of $83.86. The LUNA/USDT price pair could rally to $93.81. If they succeed, the 20-day EMA will turn up. That could pull the price down to the support line of the channel.Related: Bitcoin dips below $42K as new forecast says breakout ‘most probable outcome’ for BTC priceDOT/USDTPolkadot (DOT) turned down from the 20-day EMA ($26.81) on Jan. 13 but the positive sign is that the bulls did not give up much ground. This suggests that bulls see the dips as a buying opportunity. DOT/USDT daily chart. Source: TradingView. Bulls are trying to keep the price above the moving mean. If they succeed, the DOT/USDT price pair could reach the overhead resistance of $32.78. The RSI at the midpoint and the flat 20-day EMA suggest a balance between supply/demand. If the price drops below $32.78, the pair could stay within the range for a few days. The next trending move may start on a break and close above the overhead resistance at $32.78 or on a break below the support at $22.66.AVAX/USDTAvalanche (AVAX) turned down from the 20-day EMA ($96) on Jan. 13, indicating that bears continue to sell on rallies. The price has fallen back to the uptrend line in the symmetrical triangle which could serve as support. AVAX/USDT daily chart. Source: TradingView. If the price recovers from the current level, buyers will attempt to push the price above the moving Averages. If they succeed, the AVAX/USDT price pair could rally to below the triangle’s downtrend line. A break or close above the triangle will indicate that the correction is over. The pair could then rise to $128. Contrary to this assumption the pair could retest the critical level of $75.50 if it falls below the channel’s uptrend line. If this support cracks, the pair could start a decline toward $57 and then $50.DOGE/USDTDogecoin (DOGE) broke and closed above the 20-day EMA ($0.16) on Jan. 13, which was the first indication that the selling pressure may be reducing. The price moved above $0.19 overhead resistance today, which was followed by a sharp move today. Source: TradingView Source: TradingView. However, the candlestick’s long wick today suggests that bears will continue to sell at higher levels. If the price drops below $0.19, then the DOGE/USDT currency pair could drop to its moving averages and extend it’s range-bound action for a few days. However, the candlestick’s long wick suggests that bears continue to sell at higher levels. The pair could rally to $0.30 if they can do that. Risk is inherent in every investment and trading move. HitBTC exchange provides market data.

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