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Thursday

21 January 2021

Price analysis 12/4: BTC, ETH, XRP, LTC, BCH, LINK, DOT, ADA, BNB, XLM

Price analysis 12/4: BTC, ETH, XRP, LTC, BCH, LINK, DOT, ADA, BNB, XLM


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If the price dips below the 20-day EMA ($548), it will suggest that the bullish momentum has weakened.

The altcoin has turned down from the downtrend line and if the bears sink the price below $0.574, the altcoin could drop to the 20-day EMA at $0.521.

On the other hand, if the bears sink the price below the 20-day EMA, a deeper correction to $0.4365 is possible.

If the price rebounds off this level, the bulls will again try to propel the pair above $93.9282 and resume the uptrend.

On the contrary, if the bears sink the price below the 20-day EMA, the pair could slide to the next support at $68.9008, which is just above the 50-day SMA at $65.6947.

The bears tried to sink the price below the $280 support but the bulls are defending this level.

Chainlink (LINK) turned down from the downtrend line and the bears are currently attempting to sink the price back below the$13.28 support.

The failure of the bulls to push the price above the downtrend line suggests that the bears are aggressively defending the higher levels.

A break below this support will tilt the advantage in favor of the bears3

This negative view will be invalidated if the price turns up from the current levels or rebounds off the 50-day SMA and rises above the downtrend line.

If the price rebounds off the 20-day EMA, the bulls will once again try to propel the price above the $5.5899 overhead resistance.

On the contrary, if the bears sink the price below the 20-day EMA, the DOT/USD pair could drop to the 50-day SMA ($4.61) and remain range-bound for a few more days.

If the bears sink the price below the $0.155 support, the altcoin could drop to the 20-day EMA ($0.144).

If the ADA/USD pair rebounds off the 20-day EMA and rises above the downtrend line, it will increase the possibility of resumption of the uptrend.

However, if the bears sink the price below the 20-day EMA, a deeper correction to the 61.8% Fibonacci retracement level at $0.131 is possible.

If the bears sink the price below the moving averages, the BNB/USD pair could drop to the $25.6652 support.

Contrary to this assumption, if the price turns up and breaks above the downtrend line, a rally to $0.22 could be on the cards.

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cointelegraph.com
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