Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The quick surge of DOT prices over the past week has emboldened bulls Bears can wait for a rejection around the $5.11 level Bitcoin climbed past the $17k mark and most coins in the crypto […]
was one of these assets. It has posted significant gains despite the fearful sentiment of the past few weeks. The inefficiency on the charts has been filled, and a rejection at key Fibonacci retracement level could see a reversal.The $5 mark is an important round number that bulls will be eager to beat. Moreover it had confluence with the 78.6% Fibonacci retracement level. This was based on the move down from $5.35 to $4.22 in December.
Yet, a move above $5.11-$5.15 and a retest of this zone would offer bulls a higher likelihood of another move upward toward $5.35. This was because the $5 and $5.11 levels can act as stubborn resistance levels.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
![Polkadot [DOT] is winning in terms of development activity but…](https://i.headtopics.com/images/2023/1/9/cryptoamb/polkadot-dot-is-winning-in-terms-of-development-ac-polkadot-dot-is-winning-in-terms-of-development-ac-1612291319421870083.webp?w=640)
Polkadot [DOT] is winning in terms of development activity but…Polkadot kicks off January with a resurgence of strong development activity. DOT struggles to maintain its upside and a possible retracement might be on the cards. Polkadot has reclaimed the top spot as the blockchain network with the highest development activity count. This is according to an activity tracker ProofOfGitHub and this is important because […]
Read more »
Investors eyeing ETH should look beyond its dev activity to get a complete pictureEthereum development activity declines compared to other cryptocurrencies such as Polkadot and Cardano The number of Ethereum holders continues to grow. Furthermore, network growth and daily active addresses decrease According to recent data, Ethereum‘s development activity decreased in comparison to other cryptocurrencies such as Polkadot [DOT] and Cardano [ADA]. This decline could have negative impacts […]
Read more »
AVAX traders looking to sell may want to read this before making any movesDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion AVAX’s MFI was in an overbought zone and is ripe for a possible price reversal However, a breakout above $12.10 would invalidate the bearish forecast Avalanche’s [AVAX] 2023 rally gained over 14% after rising […]
Read more »
Cardano: Why a push beyond this level is a requisite for ADA bulls to see profitsDisclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Cardano [ADA] was bullish on the three-hour chart A break below the 13-period EMA of $0.2750 would invalidate the above forecast Cardano [ADA] made new highs since the start of 2023. The altcoin rose […]
Read more »
![Hedera [HBAR]: A likely patterned breakout could offer 7% gains if BTC…](https://i.headtopics.com/images/2023/1/8/cryptoamb/hedera-hbar-a-likely-patterned-breakout-could-offe-hedera-hbar-a-likely-patterned-breakout-could-offe-1612170525085663234.webp?w=640)
Hedera [HBAR]: A likely patterned breakout could offer 7% gains if BTC…Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion HBAR was in a neutral market position. A patterned breakout to the upside could target $0.0426. A break below $0.0387 would give the bears more leverage. Hedera [HBAR] posted an impressive rally over the […]
Read more »
SOL rockets skyward as it doubles in value within two weeks — more to follow?Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion. The short-term market structure and the trend were heavily bullish There was actual demand behind Solana’s move upward, but will this be enough to initiate a higher timeframe recovery? Bitcoin [BTC] has steadily worked its […]
Read more »