Bitcoin is beginning to show a few “bottoming” signs, which is prompting some traders to pay closer attention to LINK, $HNT, FLOW and $ONE.
) has been range-bound between $15 and $36 for the past several months. Several attempts to escape the range have failed, indicating that bulls are buying at the support and bears are selling at the resistance.The bears pulled the price below $15 on several occasions in the past few days but they could not sustain the lower levels. This may have attracted buying from aggressive traders who are attempting to push the price above the 20-day EMA .
This tight-range trading is unlikely to continue for long. If bulls drive and sustain the price above the 20-day EMA, the HNT/USDT pair could rally to $36 and then to the downtrend line. The 20-day EMA is flattening out and the RSI has recovered into the positive territory, indicating that bulls are on a comeback.
A break and close above the 20-day EMA could clear the path for a possible rally to $0.28. Conversely, if the price turns down from the current level, the bears will attempt to pull the pair below $0.16. If they can pull it off, it will signal the possible start of a new downtrend.The 4-hour chart shows the formation of a symmetrical triangle pattern. The 20-EMA has flattened out and the RSI is just below the midpoint indicating a balance between supply and demand.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Technical Analysis: Flow Climbs Close to 30% to Enter Top 50 – Market Updates Bitcoin NewsFlow traded almost 30% higher on Saturday, as the majority of the cryptocurrency top 100 was in the green.
Read more »
Without action from lawmakers, triple the cash can flow into Alaska campaigns this yearSome, however, are arguing that legislators should eliminate the cap on donations to candidates altogether.
Read more »
Market Watch: LINK and AXS Explode 10%, Bitcoin Maintains $38KBitcoin remains relatively calm around $38,000. Chainlink and Axie Infinity see the most impressive gains since yesterday.
Read more »
‘Hot Mic’: An Unwitting Link to a Listening PublicA 'hot mic' moment—like President Biden’s recent incident—gets its name from the early days of radio, writes bgzimmer
Read more »
BLACKPINK’s Jennie & Grimes Link Up For Futuristic “Shinigami Eyes” VideoGrimes is gearing up to release new music she's referred to as a 'space opera' that's 'unequivocally just great art.' Here's everything we know so far about 'Book 1.'
Read more »