Instead, if bulls thrust the #price above the moving averages, it will suggest aggressive #buying at lower levels. The pair may then attempt a rally to the neckline of the developing inverse head and shoulders (H&S) pattern.
If the #price turns down from the 20-day EMA, the #bears will try to tug the ADA/USDT pair below the $0.34 support. If they do that, the pair may start a deeper correction to $0.32 and then to $0.30.
#Cardano ADA $0.358 is attempting a bounce off the strong support near $0.34. The recovery could face resistance at the 20-day EMA ($0.37) as the #bears will try to switch this level into resistance.
The #bears are likely to have other plans. They will again try to stall the recovery at the resistance line of the channel. If the #price turns down from it, the possibility of a break below $0.36 increases. The pair may then slide to $0.33.
The bulls will now try to drive the #price above the resistance line of the descending channel. If they succeed, the XRP/USDT pair may rise to the overhead resistance at $0.43. #Buyers will have to pierce this resistance to clear the path for a possible rally to $0.52.
The #bulls purchased the dip to the support line on March 1 but the long wick on the day’s candlestick shows that #bears are fiercely guarding the moving averages. If the price breaks below the triangle, the #BNB/USDT pair may slump to $280.
The #price action of the past few days has formed a symmetrical triangle pattern in #BNB BNB $301. This indicates indecision among the buyers and sellers.
The first sign of weakness will be a break and close below the 50-day SMA. If that happens, the short-term #bulls may be tempted to book #profits. The pair could then drop to the support near $1,500.
If they did that, the #ETH/#USDT pair may start a rally to $2,000. The bears may pose a strong challenge at $1,800 but this level is likely to be crossed.
Even after repeated attempts, the bears have failed to sink #Ether ETH $1,641 below the 50-day SMA ($1,600). This indicates that the bulls are #buying the dips to the 50-day SMA.