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 (比特币) 团结.
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% 从历史最高点.
特斯拉, 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.
Bitcoin turned down from the $52,040.95 三月的顶部阻力 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).
If the bears can sustain the price below the 20-day EMA, the BTC/USD pair could now drop to the critical support at $41,959.63 where buyers are likely to step in.
如果价格从支撑位反弹, the pair could trade between $41,959.63 和 $52,040.95 再过几天.
The flat 20-day EMA and the relative strength index (相对强弱指数) near the midpoint also suggest a few days of range-bound action.
与此假设相反, 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.
另一方面, 如果空头下跌并且将价格维持在下方 $41,959.63, 这对可能下降到 $37,000 然后到 $28,050.
以太的 (ETH) relief rally from $1,289.09 在二月. 28 hit a wall at the 20-day EMA ($1,593) 在三月 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% 斐波那契回撤水平位于 $1,220 然后到 61.8% 斐波那契回撤水平位于 $1,026.
Another possibility is that the pair rebounds off $1,289 and stays range-bound for a few more days. 突破并在上方收盘 $1,670 could result in a retest of the all-time high at $2,040.
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 (有) as a buying opportunity.
买家现在将尝试将价格推高 $1.23. 如果他们成功, the ADA/USD pair may rally to $1.35 然后达到历史最高点 $1.4852896.
然而, 熊不太可能轻易放弃. The negative divergence on the RSI shows that the momentum is weakening.
If the current rebound fails to sustain, the bears will once again try to sink the price below the 20-day EMA. 如果他们能够做到这一点, 这对可能下降到 $0.80 and then to the 50-day simple moving average ($0.72).
The relief rally in Binance Coin (BNB) turned down from the overhead resistance at $265 在三月 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. 如果他们能够做到这一点, 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 和 $265 几天.
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).
波尔卡圆点 (点) turned down from $38.68 在三月 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. 如果多头可以将价格推高至下降趋势线以上, DOT / USD对可能会重新测试历史高点 $42.2848.
反之, if the price breaks and sustains below the 20-day EMA, it will suggest that the supply has exceeded demand. 在这种情况下, the pair may extend its decline to the 50-day SMA ($24.89).
XRP broke above the 20-day EMA ($0.467) 在三月 4, but the bulls could not maintain the momentum and thrust the price above the $0.50 架空阻力. 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) 然后到 $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 和 $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. 另一方面, 休息一下 $0.359 may sink the price to $0.25.
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 在三月 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, 这将表明交易者继续购买逢低. The bulls will then try to push and close the price above $29. 如果他们成功, 该货币对可能会开始上升趋势的下一阶段 $38.
反过来, 如果空头使价格跌破20日均线, 这对可能下降到 $20. Such a move may result in a consolidation between $20 和 $29. The trend will turn negative on a break below the 50-day SMA ($18.85).
LTC / USD
莱特币 (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) 在三月 4.
The bulls are currently attempting to defend the 50-day SMA ($169.29) 从今天的烛台上的长尾巴看. If the rebound sustains, the bulls will again try to push the price above the $185.58 至 $196.30 架空阻力区. 如果他们成功, LTC / USD对可能反弹至 $205 然后到 $240.
然而, the flat moving averages and the RSI just below the midpoint suggest a possible range formation. The pair could trade between $152 不利的一面 $205 有利的一面. A break above or below the range could start the next trending move.
Chainlink的 (链接) relief rally turned down from $31.43 在三月 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 和 $32 几天.
A breakout of the range may result in a rally to $34 and a retest of the all-time high at $36.93. 反过来, 休息一下 $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) 在三月 3, which shows the traders are selling on rallies. 比特币现金 (生物安全信息交换所) 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 and then to the critical support at $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. The pair could then rally to $631.71.
这里表达的观点和观点仅是作者的观点，不一定反映Cointelegraph的观点。. 每笔投资和交易动作都涉及风险. 您在做出决定时应该进行自己的研究.
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