Price analysis 1/3: BTC, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT, DOGE

Bitcoin'south (BTC) toll activity has been uneventful in the first few days of the new year and it continues to languish beneath the psychological level at $fifty,000. The Crypto Fear and Greed Alphabetize is in the fear zone registering a value of 29/100.

On-concatenation analytics resource Ecoinometrics said stages of extreme fear rarely remain for long, which means "there is a express downside at thirty days."

Bitcoin continues to garner back up from various quarters. Wharton Schoolhouse finance professor Jeremy Siegel said in an interview with CNBC that Bitcoin has replaced gilded as an inflation hedge in the minds of Millennials.

*Daily cryptocurrency market performance. Source:* *Coin360*

Savvy investors take been turning to Bitcoin to protect their portfolios confronting the possible debasement of fiat currencies. Hungarian-born billionaire Thomas Peterffy advocated putting 2% to 3% of ane's portfolio in crypto to hedge in case fiat "goes to hell."

Could Bitcoin shed its range-bound action and start a trending motion? Permit'southward study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin'due south failure to rising above the twenty-twenty-four hours exponential moving average (EMA) ($48,449) suggests that bears are selling on every minor rally. Both moving averages are sloping downward and the relative strength index (RSI) is in the negative zone, indicating reward to bears.

The bears volition now try to sink the toll below the strong support at $45,456. If they succeed, it volition suggest the resumption of the down-move. The BTC/USDT pair could commencement drop to the Dec. 4 intraday low at $42,000 and if this level cracks, the next end could exist $40,000. The longer the cost sustains below the 20-solar day EMA, the greater the possibility of a motility downward.

Conversely, if the cost turns up and breaks to a higher place the xx-twenty-four hour period EMA, it volition suggest that bulls are attempting a comeback. The pair could then rise to the l-mean solar day simple moving average (SMA) ($51,938), which may act as a potent barrier. If bulls thrust the price in a higher place this level, it will suggest a possible change in trend. The pair could then offset an upwards-move to $60,000.

ETH/USDT

Ether'south (ETH) rebound off the $iii,643.73 to $3,503.68 support zone has reached the 20-day EMA ($three,899) where the bears are mounting a stiff claiming.

The gradually downsloping moving averages and the RSI in the negative zone signal that bears have the upper hand.

If the price continues lower, the bears will again attempt to pull the ETH/USDT pair below the back up zone. If they manage to do that, the pair could start its downward journey to $3,270 and and so to $2,800.

On the contrary, if bulls push the cost higher up the moving averages, it will suggest that the corrective phase could be over. The pair could and then rally to $four,488

BNB/USDT

Binance Coin (BNB) bounced off the stiff support at $500 and reached the twenty-day EMA ($536) where the recovery is facing resistance. Both moving averages are turning downward and the RSI is in the negative zone, suggesting a small-scale advantage to the bears.

If bulls push button the price above the 20-day EMA, the BNB/USDT pair could rise to the overhead resistance at $575. This level may again human activity every bit a stiff resistance. If the price turns down from this level the pair could extend its stay inside the range between $500 and $575 for a few more days.

Conversely, if the toll turns down from the 20-twenty-four hours EMA, the bears will once again attempt to sink the pair beneath $500. If they manage to do that, the selling could intensify and the pair could start a new downtrend to $450.

SOL/USDT

Solana (SOL) has been trading between $167.88 and the xx-day EMA ($180) for the past few days simply this tight range trading is unlikely to continue for long.

Both moving averages are turning down and the RSI is in the negative zone, indicating that bears are in control. If sellers pull the cost below $167.88, the SOL/USDT pair could drib to $148.04 and then to $120.

Conversely, if bulls thrust the toll higher up the 20-day EMA, the pair could rising to $204.75. This level may over again human action as a resistance but if bulls overcome this hurdle, the pair could rise to the resistance line of the falling wedge blueprint.

ADA/USDT

Cardano (ADA) has been trading shut to the xx-day EMA ($ane.37) for the past few days, which suggests a stalemate betwixt the bulls and the bears.

If bulls propel the price above the 20-day EMA, the ADA/USDT pair could rise to the overhead resistance at $i.59. A break and close above this level could button the pair to the resistance line of the descending aqueduct.

The bulls volition take to push and sustain the cost above the channel to indicate that the downtrend could be over. Conversely, if the price turns down from the current level, the bears will once more try to pull the pair below $1.eighteen and retest the critical support at $1.

XRP/USDT

Ripple (XRP) bounced off $0.lxxx only the bulls are struggling to push button the price above the 20-solar day EMA ($0.87). This suggests that the sentiment remains negative and traders are selling on rallies.

If the toll continues to slide lower, the bears volition effort to pull the XRP/USDT pair to the potent support at $0.75. If this level cracks, the pair could first the next leg of the downtrend to $0.lx.

On the contrary, if the price rises above the moving averages, the pair could rally to $1. This level may act as a strong resistance and if the cost turns downward from it, the pair could remain range-bound for a few more days.

A break and close above $1 could indicate that the downtrend could be over. The pair could and then first its march toward $1.41.

LUNA/USDT

Terra'due south LUNA token is in an uptrend. Both moving averages are sloping upwards and the RSI is in the positive territory, indicating that bulls have the upper mitt.

The bulls are attempting to push the cost above the minor resistance at $93.81. If the cost sustains above this level, the LUNA/USDT pair could retest the all-time high at $103.60. A break and close higher up this level could signal the resumption of the uptrend.

The pair could showtime rally to $135.26 and then reach $150. Opposite to this assumption, if the toll turns downwards from the current level and breaks below the 20-day EMA ($83), it could signal the start of a deeper correction to the 50-24-hour interval SMA ($66).

Related: Bitcoin dips below $47K as U.s. dollar surge dampens BTC price performance

AVAX/USDT

Avalanche (AVAX) bounced off the $98 back up and rose above the moving averages on Dec. 31 but the bulls take not been able to articulate the downtrend line. This suggests that bears are defending this level with vigor.

If bears pull the cost below the moving averages, the AVAX/USDT pair could drib to $98. A suspension below this level could open the doors for a possible drop to $75.50.

On the reverse, if the price rebounds off the moving averages, information technology volition suggest that the sentiment has turned positive and traders are ownership on dips. That volition ameliorate the prospects of a interruption in a higher place the downtrend line.

The pair could then ascension to $128. A break and close above this level could consummate an inverse head and shoulders pattern, which has a target objective at $177.l.

DOT/USDT

Polkadot (DOT) rose in a higher place the 20-twenty-four hours EMA ($28) on January. 2 and the bulls will now effort to clear the overhead resistance zone at $31.49 to $32.78.

The 20-day EMA is flat and the RSI has jumped into the positive territory, indicating that buyers are attempting a comeback. If bulls drive the toll above $32.78, the DOT/USDT pair could rise to $40.

If the toll turns downwards from the overhead zone, it will suggest that the pair could consolidate between $22.66 and $31.49 for a few more than days. The bears will have to pull and sustain the price below $22.66 to start the next leg of the downtrend.

DOGE/USDT

Dogecoin's (DOGE) bounce to the xx-mean solar day EMA ($0.17) is facing potent resistance from the bears. The moving averages keep to slope downwardly and the RSI is in the negative zone, suggesting that bears are in control.

The sellers volition now endeavor to pull the toll to $0.15. If the cost rebounds off this level, the bulls will again try to push the DOGE/USDT pair higher up the 20-twenty-four hour period EMA. If they do that, the pair could rise to the overhead resistance at $0.nineteen.

A pause and close in a higher place $0.nineteen will be the get-go sign that bulls are back in the game. The pair could first rally to $0.22 so to $0.24.

Alternatively, if the price plummets beneath $0.fifteen, the downtrend could resume. The pair could drop to $0.13 and so slide to the psychological level at $0.10.

The views and opinions expressed here are solely those of the author and do not necessarily reverberate the views of Cointelegraph. Every investment and trading motility involves run a risk. You should conduct your own inquiry when making a conclusion.

Market data is provided past HitBTC exchange.