Home > NEWS > Price analysis 1/18: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

Price analysis 1/18: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, AVAX

Positive U.S. economic data initially propped up crypto and stock markets, but it appears that bulls lack the might to keep the rally rolling.

The foreign producer price index (PPI) fell 0.5 per cent for the month, much higher than the 0.1 per cent reduction likely by Dow Jones research economists. The larger monthly decline since April 2020 has benefited from a continued decline in energy demand.

Another result showed that retail sales fell 1.1% in December, slightly more than the expected 1% decline.

Although both data points indicate that inflation has cooled, U. S. stocks have failed to keep up with their initial gains. Similarly, several types of digital currencies have been sold higher from the market, suggesting that traders are likely to take profits before the Fed meeting on February 1.

In the past few days, the rapid recovery of login passwords has made traders show their edge again. BTC (BTC) trading volume soared 114% in seven days. Strong trading volume is accompanied by a rapid rise in prices, which generally means that both sides are actively buying. This increases the probability that BTC's $15476 will not be promoted at the end of November.

To what extent can Bitcoin and alternative coins be adjusted, and what are the important support levels that must be paid close attention to? Let's take a look at the data charts of the top ten digital currencies to find out.

BTC/USDT

On January 17th and 18th, the BTC reached the head pressure level of $21480, but the long bulb in the candlestick could not maintain a higher level on both ends. This shows that short sellers have maintained this level.

If it cannot be maintained above the head friction resistance, it is likely to attract short-term traders to take profits. This may lead to a short-term adjustment of the BTC/USDT exchange rate. The first strong support was a 38.2% Fibonacci backstop of $19489.

If the price rebounds from this level, it will show that the price decline is relatively small and has attracted customers. Then Shuangtou will try again to push the price above $21480. If he passes, the couple may gradually rise in the next round-up to $25000.

If the price of gold falls again and falls below the 20-day index moving average (EMA) of $18865, such rising views may not be effective.

ETH/USDT

In fact, the $1600 ETH level is a strong friction between the two heads. Although customers try their best to achieve this friction resistance, it is difficult for them to close the market to increase the friction resistance.

The ETH/USDT pair is likely to adjust gradually, possibly reaching 38.2% Fibonacci backgear of $1439, followed by the 20-day moving average ($1400).

The area is likely to attract customers who are likely to miss the bus before. This could lead to a retest of the $1600 stress level. If that level expands at the close, the pair is likely to soar to $1800 and then to $2000.

If the bears want to invalidate such positive views, he will be forced to pull the price below the 20-day moving average.

BNB/USDT

BNB (BNB) fell from above $318 on January 14 and reached its 20-day daily moving average ($280) on January 18. It can be seen from the long tail on the candle table that customers take the initiative to buy this bottom point.

Customers will try to use this trend to push the price up to $318 above head friction. If he succeeds and does it to the extreme, the BNB/USDT pair is likely to dabble in $338. Bears have the potential to create strong defenses at this level, and if the duo clears this barrier, the pair is likely to soar to $400.

Contrary to this assumption, if the gold price falls below the 20-day moving average, it will imply that the currency pair is likely to fluctuate in the $250-$338 range for some time.

XRP/USDT

XRP (XRP) turned around and fell to its moving average on January 18, but the long tail on the candlestick indicates radical buying at a lower level.

The moving average has completed the double-head crossing, and the RSI is in the right area, indicating that the double-headed is likely to have an advantage. If you improve and close above $0.42, you are likely to run a rising market and are likely to touch the pressure level of $0.51. This level is likely to attract the selling order again, so if the double head increases this friction resistance, the increase could extend to $0.56.

If the bears expect to stop the duo from pushing up the price, he will be forced to pull and keep the XRP/USDT pair back below the moving average.

ADA/USDT

In the past few days, ADA has made up the buying and selling layout of the rising flag. If the customer pushes the price up to the top of the flag, it will indicate that it is possible to fix the increase.

ADA/USDT rates are likely to soar first to $0.44 and then to the psychologically important level of $0.50. Such a move would suggest that the downward trend is likely to be over.

The bulls probably don't want that to happen. He will try to lower the price. If he succeeds in doing so, the pair could fall to its 20-day average ($0.31). If the price rebounds strongly from this level, the customer will try to break the barrier of $0.37 again.

Conversely, falling below the moving average may skew the advantages to the bears again.

Doge/USDT

The recovery of Dogecoin (Doge) was rejected around $0.09 on Jan. 14 and again on Jan. 18, suggesting that bears are not giving up and are active at a higher level.

The bulls lowered the price below the moving average on January 18, but could not keep it low. The rising 20-day moving average ($0. 08) and RSI, which is located in the right area, suggest that the double head has a slight advantage. Customers will try to push the price above $0.09 and quickly move north for $0.11.

Conversely, if the price closes below the moving average, the Doug / dollar pair could fall to the important support line of $0.07.

Ma Jiqi / UN Food and Agriculture Organization

On January 16th, customers tried again to push the Polygon above the head pressure level of $1.05, but the bears held on.

Repeated failure to remove period cost barriers may tempt short-term traders to make a profit. If that happens, Marjic / USD could fall to its 20-day moving average (US $0.90). Such a move will show that the currency pair is likely to increase its waiting time in the $0.69 to $1.05 range.

Or, if the price of gold rises and rises by $1.05, it will mean a new round of big gains gradually. Subsequently, the currency pair is likely to rebound to $1.30.

LTC/USDT

Litecoin shares stumbled near $91 on Jan. 14, and bears pulled prices to their 20-day moving average ($80) on Jan. 18. Judging from the long tail on the candle table that day, customers are trying to maintain this level.

The downward sloping 20-day moving average and the RSI in the area show that customers have a slight advantage. If the price of gold picks up and soars above $91, the LTC/USDT pair is likely to soar to $100 and then to $107.

On the other hand, if the price falls below the 20-day moving average, the currency pair could reach a rise of $75. This is also an important level for duopoly to defend, and if this support breaks, the pair could plummet to $65.

DOT/USDT

DOT has been trading near the decline line in the past few days, suggesting that there is a race for leadership between doubles and bears.

The 20-day moving average ($5.24) has begun to pick up, and RSI is close to overbought areas, indicating that the route with the least friction is rising. If the customer pushes the price above $6.53, the DOT/USDT pair is likely to accelerate the trend to $7.42 and then to $8.05.

Conversely, if the price of gold falls and falls below $5.60, it will be a sign that bears are trying to start over. If the merchant tries to get the currency pair to fall below the moving average, he will have the upper hand.

AVAX/USDT

The Avax soared above the downward trend line on January 11th, signifying an implicit shift in the trend. The bears have not given up because they are trying to stop the rise of $18.54.

The downward sloping 20-day moving average ($14.42) indicates that customers are good, but the RSI in the overbought area indicates that a few months of sideways consolidation or small adjustments will occur in a short period of time.

If the gold price falls and falls below $15.50, the Avax/USDT pair is likely to fall to the 20-day moving average. This is a major level that deserves a lot of attention, so a rebound from this level may increase the probability of a rebound to $20.63. If the pair falls below the 20-day moving average, the bears will have the upper hand.

by wjb news
© 2023 WJB All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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