Bitcoin and altcoins experienced a rally, but it is uncertain if this is just an oversold bounce.
Institutional traders are taking a cautious approach, with an outflow of $55 million from digital asset investment products.
Bitcoin’s key resistance levels are at $26,833 and the 20-day EMA at $27,777.
Ether needs to break above the overhead resistance of $1,700 to reach the 20-day EMA at $1,756.
BNB bounced off the support at $200, but faces resistance at the 20-day EMA at $227.
XRP may consolidate between $0.50 and $0.56, with the 20-day EMA at $0.58 acting as resistance.
Cardano is stuck in a range between $0.24 and $0.28, with a potential downtrend if it falls below $0.24.
Solana needs to break above the 20-day EMA at $22.64 to gain momentum and rally to $26.
Dogecoin rebounded off the support at $0.06, but needs to break above the moving averages for a rally.
Polkadot’s key support is at $4.22, with resistance at the 20-day EMA at $4.73.
Polygon needs to stay above the crucial support at $0.51 to avoid a downtrend.
Shiba Inu experienced a solid bounce, but needs to rally above the moving averages for further momentum.
Summary:
– Bitcoin and altcoins saw a rally, but it is uncertain if this is a sustainable trend.
– Institutional traders are being cautious, with outflows from digital asset investment products.
– Key resistance levels for Bitcoin include $26,833 and the 20-day EMA at $27,777.
– Ether needs to break above $1,700 to reach the 20-day EMA at $1,756.
– BNB bounced off support at $200, but faces resistance at the 20-day EMA at $227.
– XRP may consolidate between $0.50 and $0.56, with resistance at the 20-day EMA at $0.58.
– Cardano is stuck in a range between $0.24 and $0.28, with a potential downtrend if it falls below $0.24.
– Solana needs to break above the 20-day EMA at $22.64 for momentum to rally to $26.
– Dogecoin rebounded off support at $0.06, but needs to break above moving averages for a rally.
– Polkadot’s key support is at $4.22, with resistance at the 20-day EMA at $4.73.
– Polygon needs to stay above the crucial support at $0.51 to avoid a downtrend.
– Shiba Inu experienced a solid bounce, but needs to rally above moving averages for further momentum.