Traders’ sentiment remains positive as Bitcoin holds the $35,000 level and altcoins begin to flash bullish signs.
) marginal rise of about 1.5% last week suggests that traders are cautious at higher levels but they are not rushing to the exit. The bears have been in hibernation for the past few days but if the rally fails to resume, sellers may try to make a comeback.
In the same way, the buyers are unlikely to give up their advantage without a fight. They are likely to buy the dips to the 20-day EMA. A strong rebound off this level will increase the possibility of a break above the downtrend line. If bears want to gain the upper hand, they will have to yank the price back below the 20-day EMA.The U.S. dollar index plunged below the moving averages on Nov. 3, indicating the start of a deeper correction.The first support on the downside is the 38.
This bullish view will invalidate in the near term if the price turns down from the current level and breaks below the 20-day EMA . The ETH/USDT pair may then tumble toward the 50-day SMA .There is a minor resistance at $250 but if buyers bulldoze their way through, the BNB/USDT pair may reach the major hurdle at $265. This level may prove to be a formidable resistance for the bulls to cross.
If the price rebounds off the 20-day EMA, the bulls will again try to drive the price above $42.50 and challenge the stiff resistance at $48. Conversely, if the 20-day EMA cracks, the pair may tumble to $31 and later to $27.12.) has been in a strong recovery for the past few days. The momentum picked up further after buyers pushed the price above $0.30.The strong rally has pushed the RSI into the overbought zone, suggesting that a minor consolidation or correction may be around the corner.
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