Analysts expect the U.S. economy to stage a strong recovery in the second half of this year as coronavirus vaccines are distributed and economic activity begins to increase. As growth picks up, inflation concerns are also on the rise. Speculation is rife that the U.S. Federal Reserve may have to adjust its dovish stance to hold down interest rates.
In anticipation, the 10-year U.S. Treasury yield has jumped from about 1% at the start of the year to 1.626%. This has resulted in profit-booking in assets considered as risky and as equities pullback, a temporary pause may be put on Bitcoin’s (BTC) 랠리.
The drop in investor sentiment has also hurt the stock prices of MicroStrategy and Tesla who have each invested in Bitcoin recently. MicroStrategy’s stock price has plunged by over 50% from its all-time high at $1,315, even though the price of Bitcoin is currently only down about 20% from its all-time high.
테슬라, which had announced a $1.5 billion Bitcoin position on Feb. 8 has also seen its stock price plummet by over 34%. To stem the decline, longtime Tesla analyst Gary Black has suggested the electric car maker dump its Bitcoin holdings and instead use the proceeds for a stock buyback.
Let’s analyze the charts of the top-10 cryptocurrencies to spot the critical support levels where buyers may step in and arrest the current decline.
BTC / USD
Bitcoin turned down from the $52,040.95 3 월의 오버 헤드 저항 04, which suggests that traders are lightening up their positions at higher levels. The selling has continued and the price has dipped below the 20-day exponential moving average ($48,087).
약세가 20 일 EMA 이하의 가격을 유지할 수 있다면, the BTC/USD pair could now drop to the critical support at $41,959.63 where buyers are likely to step in.
가격이이 지원에서 반등하면, the pair could trade between $41,959.63 과 $52,040.95 며칠 더.
평평한 20 일 EMA와 상대 강도 지수 (RSI) near the midpoint also suggest a few days of range-bound action.
이 가정과는 반대로, if the price turns up from the current levels and rises above $52,040.95, it will open the doors for a rally to the all-time high.
반면에, 곰이 가라 앉고 아래의 가격을 유지한다면 $41,959.63, 쌍은 떨어질 수 있습니다 $37,000 그리고 $28,050.
ETH / USD
에테르 (ETH) relief rally from $1,289.09 2 월. 28 hit a wall at the 20-day EMA ($1,593) 3 월 3. The moving averages are on the verge of a bearish crossover and the RSI is in the negative zone, indicating a possible change in trend.
If bears sink the price below $1,289, the selling could intensify and the ETH/USD pair could drop to the 50% 피보나치 되돌림 수준 $1,220 그런 다음 61.8% 피보나치 되돌림 수준 $1,026.
Another possibility is that the pair rebounds off $1,289 and stays range-bound for a few more days. 돌파 및 마감 $1,670 could result in a retest of the all-time high at $2,040.
ADA / USD
The bulls are currently attempting to arrest the pullback at the 20-day EMA ($1.07). This suggests that the sentiment remains positive and the bulls are viewing the dips in Cardano (있습니다) as a buying opportunity.
구매자는 이제 가격을 더 높이려고합니다. $1.23. 그들이 성공한다면, the ADA/USD pair may rally to $1.35 그리고 사상 최고치까지 $1.4852896.
하나, 곰은 쉽게 포기하지 않을 것입니다. The negative divergence on the RSI shows that the momentum is weakening.
If the current rebound fails to sustain, 곰들은 다시 한 번 가격을 20 일 EMA 아래로 내리려고 할 것입니다.. 그들이 그렇게 할 수 있다면, 쌍은 떨어질 수 있습니다 $0.80 그런 다음 50 일 단순 이동 평균으로 ($0.72).
BNB / USD
The relief rally in Binance Coin (BNB) turned down from the overhead resistance at $265 3 월 2. This suggests that traders may be using the rallies to close their long positions. The price has again dropped to the 20-day EMA ($211).
If the price rebounds off the 20-day EMA with strength, the bulls will once again try to drive the price above $265. 그들이 그렇게 할 수 있다면, the BNB/USD pair could start its journey to the all-time high at $348.6969.
But the 20-day EMA is gradually flattening out and the RSI continues to weaken. This points to possible range-bound action in the short term. The pair could consolidate between $189 과 $265 며칠 동안.
A break and close below the $189 support could result in panic selling that can pull the price down to the 50-day SMA ($126).
DOT / USD
폴카 닷 (점) 거절하다 $38.68 3 월 3, which suggests that traders may have booked profits during the relief rally. The altcoin has dropped to the 20-day EMA ($32.49) and the buyers are now attempting to defend this support.
A strong bounce off the current levels will suggest that the sentiment remains bullish and traders are buying on dips. 상승세가 하락 추세선 위로 가격을 밀 수 있다면, the DOT/USD pair may retest the all-time high at $42.2848.
반대로, if the price breaks and sustains below the 20-day EMA, it will suggest that the supply has exceeded demand. In such a case, the pair may extend its decline to the 50-day SMA ($24.89).
XRP / USD
XRP broke above the 20-day EMA ($0.467) 3 월 4, but the bulls could not maintain the momentum and thrust the price above the $0.50 오버 헤드 저항. This attracted profit booking and the price has broken below the 20-day EMA today.
The XRP/USD pair could now drop to the 50-day SMA ($0.42) 그리고 $0.359. The flat 20-day EMA and the RSI just below the midpoint suggest a range-bound action for the next few days. The price may remain stuck between $0.359 과 $0.50.
A trending move could start if the bulls push the price above $0.50. That could result in a rally to $0.65. 반면에, 아래 휴식 $0.359 may sink the price to $0.25.
UNI / USD
Uniswap (UNI) is in an uptrend and the bulls have been buying the dip to the 20-day EMA ($24.05). The bulls tried to push and sustain the price above $29 3 월 4 but the higher levels attracted profit-booking.
The bears will now try to pull the price down to the 20-day EMA. If the UNI/USD pair again rebounds off this support, it will suggest that traders continue to buy the dips. The bulls will then try to push and close the price above $29. 그들이 성공한다면, the pair could start the next leg of the uptrend that may reach $38.
거꾸로, 약세가 20 일 EMA 아래로 가격을 내리면, 쌍은 떨어질 수 있습니다 $20. Such a move may result in a consolidation between $20 과 $29. The trend will turn negative on a break below the 50-day SMA ($18.85).
LTC / USD
라이트 코인 (LTC) broke and closed above the $185.58 resistance on March 3, but the bulls could not build upon this strength as the price turned down and dipped back below the 20-day EMA ($184.43) 3 월 4.
The bulls are currently attempting to defend the 50-day SMA ($169.29) 오늘의 촛대의 긴 꼬리에서 본 것처럼. If the rebound sustains, the bulls will again try to push the price above the $185.58 ...에 $196.30 오버 헤드 저항 영역. 그들이 성공한다면, LTC / USD 쌍은 $205 그리고 $240.
하나, the flat moving averages and the RSI just below the midpoint suggest a possible range formation. The pair could trade between $152 on the downside and $205 on the upside. A break above or below the range could start the next trending move.
링크 / USD
Chainlink의 (링크) relief rally turned down from $31.43 3 월 3, which shows that traders are booking profits at higher levels. The altcoin has dipped to the 50-day SMA ($26.29) but the long tail on today’s candlestick suggests the bulls are trying to defend this support.
Buying on dips and selling rallies usually results in a range-bound action. The flat 20-day EMA and the RSI near the midpoint also suggest a balance between supply and demand. The LINK/USD pair could now consolidate between $24 과 $32 며칠 동안.
A breakout of the range may result in a rally to $34 and a retest of the all-time high at $36.93. 거꾸로, 아래 휴식 $24 could pull the price down to the critical support at $20.11.
BCH / USD
The bounce from the uptrend line stalled at the 20-day EMA ($537) 3 월 3, which shows the traders are selling on rallies. 비트 코인 캐시 (BCH) has again dipped to the uptrend line. The repeated retest of the support at short intervals tends to weaken it.
The downsloping 20-day EMA and the RSI in the negative territory suggest that bears are in control. A break below the uptrend line could sink the BCH/USD pair to $432.02 다음의 중요한 지원에 $370.
This negative view will invalidate if the price rises from the current levels and rises above $539. Such a move will suggest aggressive buying at lower levels. 쌍은 그런 다음 집회 할 수 있습니다 $631.71.
여기에 표현 된 견해와 의견은 전적으로 저자의 견해이며 반드시 Cointelegraph의 견해를 반영하는 것은 아닙니다.. 모든 투자 및 거래에는 위험이 수반됩니다. 결정을 내릴 때 스스로 조사해야합니다.
시장 데이터는 HitBTC 교환.
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