Top-5 Crypto Performers: BNB, BTC, XMR, LEO, DASH
Rakesh Upadhyay's original article for cointelegraph.com reduced by 53%
The trend remains up and every dip should be viewed as a buying opportunity until the price remains above the 20-week EMA.If the price rises and sustains above the downtrend line within the next couple of weeks, we anticipate a rally to the recent highs of $13,973. If the price bounces off the 20-week EMA, we anticipate bulls to again attempt to propel the price above $98.2939. Currently, the price has bounced off the support at $1.20 and is attempting to rise above the 20-day EMA.
If successful, it can move up to $1.40. Once bulls scale above the 50-day SMA, a rally to $1.80 and above it to $2 is possible. Unless the price quickly rises above the moving averages, we expect bears to attempt a breakdown of $95.4264.
Conversely, if the bulls succeed in propelling the pair above both moving averages, we expect a rally to $160 and above it to $188.5598. We suggest traders wait for the price to rise above both moving averages before initiating long positions.
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CN [too long; didn’t read]
Summarised crypto news.