Bitcoin price is moving into a tighter range and an upside breakout could see buyers pile into ADA, XLM, XMR and MANA.
) failure to rise above the 50-day SMA may have tempted short-term traders to book profits. That has pulled the price down to the 20-day EMA .The bulls are attempting to defend the 20-day EMA but the lack of a strong bounce off it suggests weak demand. If the price sustains below the 20-day EMA, the next stop could be the uptrend line. A break and close below this support could pull the price down to $167.
Alternatively, if the price rebounds off the support line, the buyers will try to propel the pair above the channel. If they manage to do that, the pair could again attempt a break above the overhead resistance at $210.) has failed to break above the 20-day EMA for the past several days but a minor positive is that the bulls have not given up much ground. This suggests that the bulls are buying on dips as they anticipate a move higher.
On the contrary, if bulls push the price above $1.04, it will suggest that demand exceeds supply. That could open the doors for a possible rally to the stiff overhead resistance at $1.15.