BTC is pushing the cryptocurrency sales market on the road to recovery. Although the foreign consumer price index (CPI) in January was slightly higher than expected, it did not hurt the enthusiasm of traders with rising login codes.
Caring for seemingly negative data shows that sentiment is rising and traders are looking for buying opportunities.
However, as the U. S. stock index (DXY) rose, some investment analysts are cautious. In their view, the continuous rebound of DXY may limit the upstream indoor space of cryptocurrency.
Generally speaking, there is a basis point after a long-term decline. At this stage, several investment analysts remained sceptical about the rebound, but market prices surprised them again. Although data and information are very important, investors should pay more attention to market prices and formulate appropriate countermeasures in the short term.
What is the critical level that must be highly concerned? Let's take a look at the data charts of the top ten cryptocurrencies to find out.
On Feb. 14, BTC rebounded from the level of $21480 and reached the 20-day index average ($22235). This means that customers are trying to ease the adjustment around the 38.2% Fibonacci backgear of $21228. A small adjustment indicates that traders have fallen and bought by a small margin.
If the short order needs to improve his position, he will be forced to actively defend the level of $22800 and drop the price below $21228. If he does, the BTC/USDT pair may expand the adjustment to the 50% backgear at $20294. The more adjustment, the longer it is likely to take the next round of upside.
Conversely, if the double head promotes and maintains the price above $22800, the foreign exchange currency is likely to rebound to $23500 and then to $24255. It is expected that the bear will guard the area violently. If the price of gold falls as a result, the foreign exchange currency is likely to rise and fall between $21228 and $24255 for a few days.
Ethernet Square (ETH) continues to trade in the middle of the mobile moving average. On Feb. 14, a strong rebound from the 50-day easy moving average ($1483) showed that the requirements were relatively low.
A similar 20-day moving average (US $1569) and RSI close to the midpoint of the exchange rate show the balance of supply and demand. Raising the 20-day moving average will lead to a skew of advantages to customers. Subsequently, the ETH/USDT pair is likely to retest the friction resistance on the solid head, which is located at $1680.
Conversely, if the price turns downwards from the current level and falls sharply below the 50-day simple moving average (SMA), a short signal will be sent out. This may gradually make deep adjustments to the next strong support line at $1352.
On February 13th, BNB (BNB) plummeted below 50-day SMA ($293), but short orders couldn't take advantage of that. On that day, the long tail on the candle table showed strong stock buying around $280.
The 20-day moving average has begun to turn downwards, and RSI is in a negative area, indicating a slight advantage of short orders. The next fall to $280 increases the risk of collapse. If it falls below this support line, the BNB/USDT pair is likely to expand and fall to $260.
If the price of gold picks up from the current level and rises above the 20-day moving average, it will show that there are robust requirements at a relatively low level. This may improve the development prospect of rebounding to the upside-down shoulder-shaped resistance level.
XRP (XRP) jumped from its strong support line of 36 cents on Feb. 14 to its 50-day moving average (38 cents). Short orders are likely to sell reassuring increases to the mobile moving average.
If the price falls from the current level, it will indicate that the empty order is sold when it rebounds. This could lead to a retest of the $0.36 support line. This is also the main barrier to be guarded by both heads, and if broken, the XRP/USDT pair will produce a head-shoulder shape. The purpose of this bullish layout is $0.29.
Or, if the price rises above the moving average, it will indicate that the foreign exchange currency may fluctuate between $0.42 and $0.36 for some time.
Cardano's ADA (ADA) attracted steady stock buying in the 50-day SMA ($0.34), as can be seen from the long tail on the candle table on Feb. 13. The duo made another strong upward move on Feb. 14, reaching its 20-day moving average ($0.38).
If the price stays above the 20-day moving average, the duo will try to promote the ADA/USDT pair to rise above the reverse head-shoulder neckline. If he succeeds, the currency could gain mechanical energy and soar above the swap pressure of $0.44. The next key hurdle is $0.52, and if it is raised here, the increase is likely to extend to the overall target of $0.60.
Conversely, if the price turns down and falls below the 20-day moving average, it will imply that the short order is trying to start over. He will be forced to lower the price to less than $0.34 to gain the upper hand.
Empty order has repeatedly tried to keep Dogecoin (Doge) below 50-day SMA (US $0.08), but failed in the past few days. This shows that the lower level needs to be strong.
Shuangtou will now try to keep the price above its 20-day moving average ($0.08). If he succeeds in doing so, the Doge/USDT pair is likely to rise to the head resistance zone of between $0.10 and $0.11. It is expected that the bear will do his best to protect the area.
Another possibility is that prices turn downwards from the 20-day daily moving average. If this happens, it will show that the empty order is trying to change the 20-day moving average into a pressure level. Subsequently, the foreign exchange currency is likely to fall to its 50-day moving average and finally to the strong support line of $0.07.
On February 13 and 14, empty orders lowered the Polygon's Majic to below the 20-day moving average, but they were unable to keep it low. This shows that Shuangtou does not want to give up his strengths.
If the double pushes the price of gold above the downward trend line, the Marjic / dollar pair is likely to try to rebound to $1.35. Such a move will improve the prospects for further upward growth. If the operating scale adjustment is carried out for $1.35, the increase is likely to extend to $1.75.
Conversely, if gold prices fall sharply from the downward trend line, it will show that short orders are being sold with each small rebound. The next time it falls below the 20-day moving average, it is likely to open the door as it is likely to fall to $1.05.
Solana's SOL has been stuck in the middle of the moving average since Feb. 9, suggesting that bulls and bears are hesitant.
Neither the mediocre 20-day moving average ($22.21) nor the median RSI gives bulls and bears a clear advantage. This shows that the SOL/USDT pair may swing between the downward trend line and the 50-day moving average for a period of time.
If the price falls below the 50-day moving average, sales are likely to increase, and the foreign exchange currency is likely to plummet to $15. Conversely, if the duo kicks the price above the downward trend line, the foreign exchange currency is likely to reverse 100% and rise to $39.
On Feb. 13 and 14, short orders tried to bring Polkadot's DOT (DOT) below the 50-day moving average ($5.76), but the long tail on the candlestick showed strong stock buying at a relatively low level.
Duopoly will try to use this advantage to push the price above the 20-day moving average ($6.32). If he can achieve this, the DOT/USDT pair may gradually move towards the upper pressure level at $7.25. This will form a Houses shape in the opposite direction, which will be carried out after an increase of 7.25 yuan. The structure of this flip setting is aimed at $10.28.
Conversely, if the price falls and falls below the 50-day moving average, it will show that the short order has turned the 20-day moving average into friction resistance. This could trigger a deep adjustment, falling to $4.35.
The long tail on Litecoin's candlestick on Feb. 13 shows that double buying has fallen to its 50-day moving average ($86). Customers bought again on February 14th, clearing the barrier to the 20-day daily average ($93).
Prices are struggling between a big rise of $102.53 and a fall of $88. Almost the 20-day moving average and the RSI above 57 indicate that there may be ups and downs in a short period of time.
Tidying up sideways around locally higher is a positive sign, because it shows that the overall strength of the hand once again stick to their trading position, because they expect to repair and increase. An increase of $102.53 could clear the way for a rise to $115,000,000.
If gold falls and falls below $88, such proactive views may be denied for a short time. Subsequently, the foreign exchange currency is likely to fall to $81 and then to $75.
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