Home > NEWS > THETA, LIDO, KLAY and EGLD flash bullish signs as Bitcoin recaptures $23K

THETA, LIDO, KLAY and EGLD flash bullish signs as Bitcoin recaptures $23K

BTC price is chasing after $24,000 again, raising the possibility of LDO, EGLD, THETA and KLAY targeting new year-to-date highs.

Encrypted currency markets and U. S. stocks reported profit-taking this week as macroeconomic data suggested that the Fed would continue to raise interest rates at the meeting. BTC (BTC) fell more than 4%, and the S & P 500500 index fell 2.7%, making it its worst week of the year.

The Chicago Mercantile Exchange (CME) FedWatch tool shows that the probability of the Fed meeting raising interest rates by 25 percentage points at its March meeting is 73%, but after a week above the expected inflation reading, the probability of raising interest rates by 50 percentage points has gradually begun to rise.

In the absence of a clear stage, some coins go into a deeper adjustment, while a very small number of coins move against the trend and beat the market again. Therefore, it is very important to choose a coin transaction that suits you.

A very small number of coins that have undergone shallow adjustments or rebounded sharply from the support line have been selected for this list. Let's take a look at his data chart to determine the level to consider.

BTC/USDT

On Feb. 24, BTC fell below the 20-day index moving average ($23391), but bears could not use that advantage to keep BTC prices below the strong support line of $22800.

On Feb. 25, the price of gold rebounded from $22800 in an attempt to push the price above its 20-day moving average. If he succeeds in doing so, it will show that the BTC/USDT pair may be tidying up sideways between $25250 and $22800 for a few days.

The relative strength index (RSI) of the 20-day moving average and the position near the station also indicates that there will be some fluctuations in the near future.

Or, if the price of gold falls below $22700, sales are likely to increase, and the price of gold could plummet to the latter strong support line of $21480.

The 20-day moving average turned downward in the four-clock chart, and the RSI index was in a negative area. This would be an advantage for bears. Merchants will try to maintain the 20 moving average, and if prices fall from that level, the chances of falling below $22800 will increase. If this happens, sales are likely to increase, and the price of gold could fall to $21480.

Conversely, if the price increases by 20 EMA, it will show that double heads have bought bargain-hunting. This may send the foreign exchange currency to the 50 easy moving average, keeping the price in the range for a longer period of time.

LDO/USDT

In the recent correction, LDO did not stay below its 20-day moving average ($2.75), which is a sign of initiative. Another sign of rising is the flag generated around the higher local area.

The duo will try to push the price above the flag resistance line. If he succeeds, the LDO/USDT pair is likely to rise gradually in the next round. The foreign exchange currency is likely to rise to $3.90 first and then try to jump back to $4.24.

Conversely, if the price turns down from the resistance line, it will imply that bears are selling when they rebound. This may keep the price in the flag for a longer period of time. If the bear needs to signal a reversal of the trend in the short term, he will be forced to lower the price below the flag.

A strong rebound from the support level of the flag shows that bargain buying is proactive. Customers will have to get rid of the resistance line in order to regain control. If he guarantees that, the foreign exchange currency may repair the rally.

However, bears are likely to have other options because they will try to maintain the resistance line. If prices shift downwards from this level, the balance is likely to continue for some time.

Falling below the flag is likely to attract short-term speculators to take profits. This may drag the price to $2.20 and then to $2.

EGLD/USDT

MultiversX (EGLD) is falling from the resistance line, but an encouraging sign is that the duo are trying to defend the 20-day moving average ($47).

Both moving averages are tilted downwards, and the RSI is higher than 54, indicating that the customer has a slight advantage. Duo will try to lead prices to the resistance line, where they may once again encounter strong opposition from short sellers.

If gold falls and falls below the 20-day moving average, such rising views may be invalid for a short time. This will show that shorts are sold every time they bounce slightly. Subsequently, the EGLD/USDT pair is likely to fall to 50-day SMA ($44) and later to $40.

The four-hour chart shows that prices fall in a downward trend. Customers buy at a lower level and have sent the price to the resistance line of the platform. Then this resistance abdicates, and the foreign exchange currency is likely to rise to the 50 moving average, after which it will try to retest the strong barrier level of $54.

Conversely, if the price turns down from the resistance line, it will imply that the bears have not given up. This may lead to a drop in support for safe passage.

Theta/USDT

The duo is trying to block the adjustment of the Theta Network (Theta)'s 20-day moving average ($1.15). Both moving averages are tilted downwards, and the RSI is in the right area, indicating a double benefit.

If customers push prices above the downward trend line, the Theta/USDT pair is likely to soar to the headline resistance level of $1.34. This is an unreachable resistance level, and raising it is likely to open the door for oil prices to soar to $1.70.

Conversely, if prices turn downward and fall below the 20-day moving average, it will indicate that Duotou is likely to be scrambling to withdraw in the short term. This may lead to a deeper adjustment to the 50-day moving average ($1.05), followed by a psychological support of $1.

The four-hour chart shows the production of symmetrical triangular patterns. The two moving averages have flattened, and the RSI oscillates around the center, indicating the balance of supply and demand.

Falling below the triangle may skew the advantages to the bears in the short term. The foreign exchange currency is likely to fall to $1.12 first and then to $1.

If double heads need to stop the fall, he will be forced to push the price up to the top of the triangle immediately. This may open the journey to $1.27 and then to $1.30.

Clay / USDT

Klaytn is trying to get rid of a basic principle. On Feb. 25, the price of gold rebounded from its 20-day moving average ($0.26), indicating that buying was strong when it fell.

The double head will try to increase the head resistance, which is located at $0.34. If he does this, the Clay / USDT pair may accumulate mechanical energy and soar to the psychological resistance level of $0.50. Such a move would mean an implicit shift in development trends.

If the price turns down from $0.34, it will show that short sellers have vigorously maintained that level. This could bring the price down again to the 20-day moving average. Falling below this level often means that the foreign exchange currency is likely to spend more time in the basic pattern.

The double head stopped the adjustment around the 61.8% Fibonacci backgear at $0.26 and quickly warmed up. There is a small resistance at $0.32, so if you raise that level, the foreign exchange currency is likely to try to bounce back to $0.34 and then rise to $0.37.

On the other hand, if the price turns down from the resistance level above the head, it will indicate that the bears are selling during the rebound. This increases the chances of falling below $0.26. If this happens, the foreign exchange currency could fall to $0.22.

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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