Bitcoin withdrawals from exchanges surge
Bitcoin withdrawals from exchanges have reached 61,000 Bitcoin, indicating positive sentiment among traders. The hope is that the United States Securities and Exchange Commission will approve a spot Bitcoin exchange-traded fund.
S&P 500 Index on an uptrend
The S&P 500 Index has been showing strong bullish momentum, with the price breaking above key moving averages. The bears are expected to fiercely defend the downtrend line, while buyers are likely to buy the dips.
U.S. dollar index facing deeper correction
The U.S. dollar index has plunged below moving averages, signaling a deeper correction. Buyers will need to break above resistance levels for a potential retest of higher levels, while a break below support could lead to further decline.
Bitcoin's gradual rise in ascending channel pattern
Bitcoin has been gradually rising within an ascending channel pattern, suggesting bullish momentum. However, the RSI indicates potential consolidation or correction in the short term. Support levels to watch are the 20-day EMA and $31,000.
Ether breaks above resistance, eyes $2,000
Ether broke above resistance at $1,885, signaling the start of the next leg of the upward journey. Bulls are expected to defend the resistance zone between $2,000 and $2,200, with a potential rally to $3,500 if cleared.
BNB breaks resistance, faces major hurdle
BNB broke and closed above the resistance level at $235, indicating strong demand. The next major hurdle for bulls is at $265, while support can be found at $235 and the 20-day EMA.
XRP breaks overhead resistance
XRP broke above the resistance level at $0.67, indicating bullish momentum. Minor resistance is at $0.74, with potential rallies to $0.85 and $1 if cleared. RSI suggests potential correction or consolidation in the short term.
Solana struggles to sustain higher levels
Solana bounced off crucial support at $38.79 but is struggling to sustain higher levels. Support to watch is the 20-day EMA, while resistance is at $42.50 and $48. A break below the 20-day EMA could lead to further decline.
Cardano in strong recovery
Cardano has been in a strong recovery, with the price breaking above $0.30. RSI suggests a potential consolidation or correction, with support at $0.32 and the 20-day EMA. Bulls need to defend the 20-day EMA to maintain the up-move.
Dogecoin shows change in sentiment
Dogecoin bounced off strong support at the 20-day EMA, indicating a change in sentiment. Bulls are attempting to maintain the price above $0.07, with potential targets at $0.08 and $0.10. Bears will try to pull the price below the 20-day EMA.
Toncoin trading above moving averages
Toncoin has been trading above moving averages, indicating demand at higher levels. Bulls need to maintain the price above $2.31 for a potential rise to $2.59, while bears are expected to defend this level. Support can be found at $1.89.
Note: This article does not contain investment advice or recommendations. Readers should conduct their own research.
