Bitcoin’s increasing strength and a daily close above $45,000 could rub off on altcoins like ADA, AXS, LINK and FTT.
) has been sustaining above the critical level at $1 for the past few days. This indicates that bulls who may have purchased at lower levels are not booking profits aggressively as they expect the recovery to continue.The moving averages have completed a bullish crossover and the RSI is in the positive zone, indicating that bulls have the upper hand. If buyers push and sustain the price above $1.
Alternatively, if the price turns down and breaks below the 20-EMA, it will suggest that the bullish momentum has weakened. The pair could then gradually decline toward the strong support at $1.) has been trading between $72 and $44 for the past few days. The buyers pushed the price above the overhead resistance on March 25 but could not sustain the higher levels. This indicates that the bears are defending the level with vigor.
This positive view will invalidate if the price continues lower and breaks below the 20-day EMA. That could keep the pair range-bound for a few more days.The 4-hour chart shows that the bulls pushed the price above the overhead resistance at $72 but could not sustain the higher levels. This may have attracted profit-booking by the short-term traders which pulled the price below the 20-EMA.
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