BTC and other altcoins have bounced off their immediate support levels, making way for a potential short term relief rally.
BTC
BTC held the $28,630 support on the 20th, signifying that the bulls are buying at lower levels. The buyers have pushed the price above the downtrend line, which is the first sign of a recovery. If buyers sustain the price above the downtrend line, BTC could rally to the 20-day EMA of $31,758.
ETH
ETH bounced off the uptrend line on the 21st, signifying that bulls are buying the dips to this level. The buyers will try to push the price to the overhead resistance at $2,159 where the bears may pose a strong challenge. If the price turns down from the overhead resistance, it could drop to the uptrend line.
BNB
The bulls have pushed BNB above the 20-day EMA of $324, which is the first sign that the downtrend may have ended. If buyers sustain the price above the 20-day EMA, BNB could rally to $350 and later to the 50-day SMA of $374. The bears may try to delay the up-move in this zone.
XRP
XRP is attempting a recovery after the bulls successfully defended the immediate support at $0.38. The buyers will now try to push the price to the 20-day EMA of $0.47. The down sloping moving averages and the RSI in the negative territory indicate that bears have the upper hand.
ADA
The bulls fruitfully defended the psychological level at $0.50 in the past few days, signifying the demand at lower levels. The buyers will now try to push ADA above the 20-day EMA of $0.60. If they succeed, ADA could attempt a rally to the breakdown level of $0.74.
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