Bitcoin Technical Analysis for Short-Term
- Bitcoin price maintained a notable ascending pattern, but with the recent drop, the asset sliced through the trend line and plunged below
- The selling volume has intensified and hence the downtrend may continue throughout the weekend or until the BTC price hits the strong support levels
- The RSI has smashed the lower levels where-in it is attempting for a flip but it may not succeed as MACD is extremely bearish
- Therefore, if the BTC price breaks through $36,800 then it may head towards $34,000 or lower depending on the volume
Also Read: Bitcoin(BTC)/USDT Technical Analysis
Ethereum Technical Analysis for Short Term
- Ethereum price is trending within a huge symmetrical triangle since the beginning of 2022 and approaching the apex slowly
- The previous pullback had dragged the price out of the triangle but it quickly reversed the trend and continued its swing within the triangle
- The asset is attempting to rebound from the lower levels and with the flip, the ETH price may continue surging towards the upper resistance initially at $2720 and later at $2800
- However, the asset may hover within the triangle for the next fortnight and eventually by elevating the support levels, may reach the apex at $2882 and finally ignite a notable breakout.
Solana Technical Analysis for Short-term
- Solana price is currently showing some strength after a strong depleted trend as the buyers appear to have entered the ring
- A flip from here may uplift the price towards the immediate resistance levels around $93
- The asset may continue to surge further or else get rejected but may remain swinging within the triangle for another couple of days until it reaches the apex
- However, after reaching the apex, the asset is expected to slice through the upper resistance triangle to hit the strong resistance close to $115
Also Read: Solana (SOL)/USDT Technical Analysis
Shiba INU Technical Analysis for Short-Term
- Shiba INU price spiked high at the beginning of February 2022, however, the asset quickly absorbed a notable descending trend to hit the crucial support zones
- However, the SHBI price quickly flipped from these levels and surged high to hit the upper resistance. Currently, the price is attempting to repeat the same move.
- Yet to do so, the asset needs to slice through the important resistance ground $0.0000250 which may clear the path to $0.00002700 levels
- Yet the crucial resistance remains around $0.0000300 which may further validate a strong uptrend towards the new highs.
Polygon Technical Analysis for Short-Term
- Matic price currently is attempting a flip but the volume may not allow it to do so and hence the possibilities to test the lower support of the triangle are high
- After hitting the lower support, the price may attempt a flip and rise high to achieve $1.5 levels which may be followed by a retest to the lower support again
- Now the price could have approached the apex and hence a strong breakout from the consolidation may be imminent
- Yet to surpass the $2 levels, the Polygon price needs to attain $1.8 levels holding extreme bullish momentum
Terra Technical Analysis for Short-Term
- Terra(LUNA) price showcased a huge bullish momentum in the past couple of days which remained less impacted by the ongoing Russia-Ukraine conflict
- Yet since the beginning of the present month, the price began to consolidate and ignited a strong plunge since the early trading hours
- The price ranged along with the upper levels of the Bollinger Bands and during the consolidation, the bands faced a squeeze which resulted in a drastic plunge
- No doubt the asset is attempting a flip, but if the buying volume gets intensified a little then a quick leap from the downtrend is pretty much possible during the weekend
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