Price analysis 2/27: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL
Bitcoin and U. S. stocks are trying to be proactive this week, but some investment analysts are skeptical about the market outlook in the short term. According to Mike McGlone, a high-end macroeconomic investment analyst at Bloomberg Intelligence, BTC will encounter significant friction at $25000. McGraw thinks, "it may take a while to buy and hold the type to gain the upper hand."
In addition, dolphins with 1000 or more Bitcoin distinctive physical lines BTC don't seem to believe in the recovery of the login password market. According to Glassnode, the total number of BTC dolphins has fallen to 1663, well below the peak of 2161 in February 2021.
It is not easy to grasp the bottom in all markets. So when a trader feels that the decline is over and basically the layout has already begun, he should try to establish an asset allocation.
They can gradually improve an asset allocation, with the overall goal of buying before the property trend increases and soars, rather than buying all the property at once.
Will a strong stock market push up bitcoin and alternative coins? Let's study the data and charts to find the answer.
On Feb. 17, the S & P 500 fell below the 20-day index moving average (4046), which increased sales and pulled prices towards the upward trend line. Although bears dragged prices below the upward trend line on Feb. 24, the lower level of the long tail on the candle table that day attracted buyers. This helps the index close around the upward trend line.
The duo will face a daunting task, as bears are likely to sell in all the moderation and rebound around the 20-day moving average, as can be seen from the long stamens in the candlestick on February 27th. If prices fall from the 20-day moving average, it will show that hot plates are negative and traders have risen slightly when selling. Closing below the upward trend line is likely to open the door for the possibility of falling to 3764.
If Shuangtou wants to save the situation, he will be forced to push the price back above the 20-day moving average. If he does so, it will show that falling below the rising trend line may be a short trap. The index may then try to bounce back to the pressure level above 4200.
The duo held well to the level of innovation retested from the wedge on Feb. 20, opening a stronger rebound in the DXY index.
The index above 38.2% Fibonacci backstop 105.52. This level often means that bears are trying to rebound the economy. If the merchant needs to maintain his ownership, he will be forced to lower the price below the moving average.
On the other hand, if Shuangtou needs to increase his influence, he will have to push the selling price above 105.52. If he succeeds in achieving the extreme, the index is likely to expand the rebound to 50 per cent back 106.98 and then rise to 61.8 per cent back 108.43.
BTC (BTC) rebounded from its support line of $22800 on Feb. 25 and rose above its 20-day moving average ($23417) on Feb. 26. This shows that the relatively low aggregate demand has attracted customers.
But bears are likely not to give up easily. He will try to pull the price below the 20-day moving average and test the 50-day simple moving average (SMA) ($22433). If this level abdicates, BTC/USDT could plunge to the latter key support line of $21480.
Or, if the price rebounds from $22800 again, it will show that customers have fiercely defended that level. This may mean a few days of ups and downs between $22800 and $25250.
Medical ether (ETH) rebounded from 50-day SMA ($1587) on Feb. 25, suggesting that double heads have fiercely defended this level. The 20-day moving average (US $1626) has already leveled off, with RSI slightly higher than the midpoint of the exchange rate, indicating a balance between supply and demand.
If double heads push up the price and close above $1680, the equilibrium will be skewed. After that, ETH/USDT will try to break through the $1800 pressure level and gradually enter the $2000 mental state barrier.
Or, if the price turns down again from the head pressure position, it will show that the bears are unwilling to give up. This increases the chances of falling below the 50-day moving average. Subsequently, the foreign exchange currency is likely to fall to $1460 and then to $1352.
BNB (BNB) fell below the 50-day moving average ($307) on Feb. 24, but double bought this point and pushed the price up to the 20-day moving average ($309) on Feb. 26. This level deeply attracts short sellers.
If the price turns down and falls below $295, it will show that the merchant has changed the 20-day moving average into a pressure level. Subsequently, the BNB/USDT pair is likely to fall to the important support line of $280. This is a key level of concern, so a rebound from it may occur in a range between $280 and $318 for a period of time.
If the customer pushes the price above $318, or the bears lower the price to less than $280, the next trend may be gradual in a short period of time.
In the past few weeks, the price of XRP has fluctuated from 30 cents to 43 cents. On Feb. 23, the price of gold fell below 50-day SMA ($0.39) and gradually fell to the solid support line of $0.36.
The 20-day moving average ($0.38) has begun to turn down, and RSI is in a negative area, indicating a slight advantage for bears in the short term. If the price falls below $0.36, the XRP/USDT pair is likely to slip into the slide channel support.
If the price of gold rises and rises above the safe passage, such negative views may be ineffective for a short time. Subsequently, the foreign exchange currency is likely to try to bounce back to the head pressure level of $0.42, where bears are expected to create a strong defensive force.
Cardano's ADA (ADA) rebounded from 35 cents on Feb. 25, but recovered 50 days after the SMA (37 cents) was sold. This indicates that the bears are trying to flip this level to the pressure level.
The moving moving average is on the edge of a bullish crossover, with the 20-day moving average ($0.38) falling below the 50-day moving average. Such a move will show that bears have an advantage in the short term. If it rises and closes below the strong support zone between $0.34 and $0.32, it is likely to open a decline to $0.26.
If the double needs to stop the downtrend, he will be forced to promote the price back above the 20-day moving average. The ADA/USDT pair is then likely to soar to $0.42-$0.44 in friction resistance.
Ma Jiqi / UN Food and Agriculture Organization
On February 24th, Polygon's Ma Jiqi plummeted below the 20-day moving average ($1.30), and the bears successfully retested it on February 26th. This shows that the 20-day moving average will be used as a new roof.
Short sellers will next try to lower the price below the 50-day moving average ($1.16). If he succeeds in this effort, sales are likely to increase, with Majic / USD likely to fall to the latter strong support line of US $1.05.
If the customer needs to gain the upper hand again, he will be forced to push the price above the 20-day moving average. This will show that there is solid stock buying when there is a fall. The foreign exchange currency is likely to soar to $1.42 first and then bounce back to a frictional resistance zone of $1.50 to $1.57.
Dogecoin (Doge) rebounded from a strong support line around $0. 08 on Feb. 25, but returned to a short sell on Feb. 27.
The moving moving average has completed the bullish crossover, and the RSI is in a negative area, indicating that the bears have an advantage. Lifting and closing below the $0.08 support line will produce a head and shoulder shape for a short time. Subsequently, the Doge/USDT pair is likely to plummet to $0. 07.
Contrary to this assumption, if the price of gold rises from current levels or $0.08, it will indicate that a relatively low level is called a buying opportunity. Relief gains are likely to encounter selling orders near the downline, so if the two sides break through this barrier, the foreign exchange currency is likely to try to rebound to $0.10.
Solana's Sol (Sol) carries an uphill battle between doubles and bears around the 50-day SMA ($22.75). This means that the duo is trying to maintain that level, while the bears are trying to raise it and get to it.
If the price of gold falls below $21.41, the SOL/USDT pair is likely to fall to the important engine position of $19.68. This is also an important level for Duanlong to defend, and if the closing market falls below this level, it will increase the pressure on sales, causing the foreign exchange currency to fall to $15.
Conversely, if the price reverses and rises above the 20-day moving average ($23.23), the duo will lead the foreign exchange currency to the resistance line. Bears may do their best to defend this level, so it is possible for customers to rise to $39 if they get rid of this hindrance.
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