Bitcoin continues to lose ground, but if the $40,000 level is reclaimed, LEO, MANA, KLAY, and XTZ could be the first to recover. Here are five things to consider as we start the new week:
) has been correcting since making a new all-time high at $8.14 on Feb. 8. The bears pulled the price below the 50% Fibonacci retracement level at $5.74 but the bulls are aggressively defending the 20-day EMA .The rising 20-day EMA and the RSI in the positive territory indicate that bulls have a slight edge. If buyers drive the price above $6.24, the LEO/USD pair could attempt to resume the up-move. The pair could then rise to $7.
Conversely, if buyers push and sustain the price above the 50-SMA, the pair could rally to $6.24. The bulls will have to clear this hurdle to signal that they are back in the driver’s seat.Decentraland turned down from the downtrend line on Feb. 16, indicating that the sentiment remains bearish and traders are selling on rallies to stiff resistance levels.The bears have pulled the price below the 50-day SMA , which opens the door for a possible downside to the strong support zone between $2.
If the price turns up from the current level, the bulls will try to push the pair above the 200-SMA. Such a move will be the first sign that bulls are attempting a comeback. A break and close above the 20-EMA will increase the possibility of a rally to the resistance line of the channel.KLAY/USDT