A daily close above $32,700 would signal a possible early trend change for Bitcoin and altcoins, but current trade volumes signal that it’s an unlikely outcome.
) bounced off $22.14 on June 4, indicating that bulls are defending the $21.35 support with vigor. The buyers have pushed the price above the downtrend line and are attempting to clear the overhead hurdle at the 20-day EMA .If they manage to do that, the AVAX/USDT pair could pick up momentum and start its northward journey toward $33 and then $37. Such a move will suggest that the bulls are back in the game.
Contrary to this assumption, if the price turns down from the 20-day EMA, it will suggest that bears remain active at higher levels. The pair could then slide toward $21.35. A break and close below this support could start the next leg of the downtrend.The buyers have successfully defended the $0.000010 support for the past several days but they have not been able to push Shiba Inu above the 20-day EMA . This suggests that buying dries up at higher levels.The tight range trading between $0.
Alternatively, if buyers propel the price above the 20-day EMA, the pair could rally to the overhead resistance at $0.000014. The bears are expected to mount a strong defense at this level. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.
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