Kryptodata

  • Market Cap: $2,082,075,253,302.78
  • 24h Vol: $59,651,987,710.80
  • BTC Dominance: 48.68%
Will TON, LINK, MKR, and XTZ follow Bitcoin's range trading as volatility decreases?

Will TON, LINK, MKR, and XTZ follow Bitcoin’s range trading as volatility decreases?

Bitcoin’s attempt to break out of its range has failed, suggesting that range-bound price action may continue. Altcoins TON, LINK, MKR, and XTZ are showing signs of strength and could potentially start a rally if they break above their respective resistance levels.

– Bitcoin is back inside its range and trading near $26,000. Uncertainty about the next directional move is indicated by two successive doji candlestick patterns on the weekly chart.

– The downside for Bitcoin may be limited in the near term due to expectations that the SEC may approve a spot Bitcoin exchange-traded fund.

– Only a few altcoins are showing strength in the short term.

– TON is in an uptrend but faces resistance at $2.07. A rally above this level could lead to a surge to $2.40.

– LINK has been trading inside a range between $5.50 and $9.50. A break above the 20-day EMA could start a journey towards the 50-day SMA.

– MKR has taken support near $1,000 and is attempting to resume its uptrend. Bulls are facing resistance at the downtrend line.

– XTZ is witnessing a battle between bulls and bears near the strong support at $0.70. A close above the 20-day EMA could pave the way for a rally to the downtrend line.

In summary, Bitcoin’s failed breakout suggests continued range-bound price action, while a few altcoins show signs of strength and potential for a rally if they break above resistance levels.

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