Price analysis 2/28: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, LTC, LINK, AVAX

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Bitcoin (BTC) dropped adjacent to $78,000 connected Feb. 28, but little levels attracted coagulated buying by the bulls. CryptoQuant laminitis and CEO Ki Young Ju said successful a station connected X that selling aft a 30% correction could beryllium a “noob” mistake arsenic Bitcoin roseate to a new all-time precocious aft falling 53% successful 2021.

Select whales look to beryllium gathering a presumption during the dip. A Bitcoin whale, known arsenic “Spoofy,” bought 4,000 Bitcoin worthy astir $344 million erstwhile the terms was betwixt $82,000 and $85,000. Crypto expert Saint Pump said connected X that Spoofy builds his presumption “extremely slowly” and whitethorn bargain much if the markets autumn further.

The existent correction has not deterred Standard Chartered’s semipermanent view. In a CNBC interview, Standard Chartered caput of integer assets probe Geoffrey Kendrick said that Bitcoin could retrieve to $200,000 this year and surge to $500,000 earlier President Trump finishes his 2nd term.

Could Bitcoin commencement a recovery, pulling altcoins higher? Let’s analyse the charts of the apical 10 cryptocurrencies to find out.

Bitcoin terms analysis

Bitcoin closed beneath the $85,000 enactment connected Feb. 26, and the bears successfully defended the level connected Feb. 27.

Sellers tried to descend the BTC/USDT brace to $73,777, but the bulls purchased the dip to $78,258 connected Feb. 28. Buyers volition effort to propulsion the terms backmost supra the $85,000 to $90,000 absorption zone. If they negociate to bash that, it volition suggest that a short-term bottommost whitethorn beryllium successful place.

Conversely, if the terms turns down sharply from the overhead absorption zone, it indicates selling connected each insignificant rally. The brace could past descend to the captious enactment astatine $73,777, wherever buyers are expected to measurement in.

Ether terms analysis

Ether (ETH) rebounded disconnected the $2,111 support, indicating that the bulls are trying to support the terms wrong the ample range.

The bulls volition effort to agelong the betterment to the 20-day EMA ($2,611) and past to the downtrend line. Sellers are expected to aggressively support the downtrend line. If the terms turns down from the overhead resistance, the ETH/USDT brace could retest the $2,111 level. If this enactment cracks, the brace whitethorn descend to $2,000 and aboriginal to $1,900.

Contrary to this assumption, a interruption and adjacent supra the downtrend enactment suggests that the bears are losing their grip. The brace could emergence to the 50-day SMA ($2,932).

XRP terms analysis

XRP (XRP) turned down from the enactment enactment of the symmetrical triangle signifier connected Feb. 26, suggesting that the bears person flipped the level into resistance.

The XRP/USDT brace dipped beneath the $2.06 enactment connected Feb. 28, but the bears could not prolong the little levels. Buyers volition effort to propulsion the terms supra the 20-day EMA. If they tin propulsion it off, it volition awesome that the bulls are backmost successful the game.

Contrarily, if the terms turns down from the 20-day EMA, it volition suggest that the bears stay progressive astatine higher levels. That increases the anticipation of a driblet to the important enactment astatine $1.77.

BNB terms analysis

BNB (BNB) rebounded disconnected the enactment adjacent $557, indicating that the bulls are trying to support the level.

The BNB/USDT brace volition effort a alleviation rally, which is expected to look beardown selling astatine the 20-day EMA ($634). If the terms turns down sharply from the 20-day EMA, it increases the likelihood of a interruption beneath $557. If that happens, the brace could illness to $500. Buyers are expected to fiercely support the portion betwixt $460 and $500.

On the upside, a interruption and adjacent supra the 20-day EMA suggests the selling unit is reducing. The brace could past scope the 50-day SMA ($656).

Solana terms analysis

Solana (SOL) slipped beneath the $133 enactment connected Feb. 28, but the agelong process connected the candlestick shows coagulated buying astatine little levels.

There is insignificant absorption astatine $147, but it is apt to beryllium crossed. If the terms holds supra $147, the SOL/USDT brace could scope the 20-day EMA ($169). Sellers are expected to airs a beardown situation astatine the 20-day EMA, but if the bulls prevail, the brace could widen its betterment to the 50-day SMA ($201).

This optimistic presumption volition beryllium negated if the terms turns down and breaks beneath $125. The brace could past plummet to $110.

Dogecoin terms analysis

Buyers failed to propulsion Dogecoin (DOGE) backmost supra the enactment line, suggesting that the bears person flipped the level into resistance.

The selling resumed connected Feb. 28, and the bears volition effort to descend the terms to $0.15. However, the RSI has slipped into the oversold zone, suggesting that a alleviation rally could beryllium astir the corner. Buyers volition person to propulsion and support the DOGE/USDT brace supra the 20-day EMA ($0.24) to commencement a sustained recovery.

The nonaccomplishment to propulsion the terms backmost supra the 20-day EMA increases the hazard of a driblet to $0.13 and past to $0.10.

Cardano terms analysis

Cardano (ADA) is witnessing a pugnacious conflict betwixt the bulls and the bears astatine the enactment enactment of the descending transmission pattern.

If the terms sustains beneath the enactment line, the selling could prime up, and the ADA/USDT brace whitethorn driblet to $0.50. Buyers are expected to support the $0.50 level with each their mightiness due to the fact that a adjacent beneath it could descend the brace to $0.33.

If the terms turns up from the enactment line, the brace could scope the 20-day EMA (0.73). This is simply a captious overhead absorption to ticker retired for due to the fact that a interruption supra it suggests that the brace whitethorn stay wrong the transmission for immoderate much time.

Litecoin terms analysis

Litecoin (LTC) has been oscillating wrong a symmetrical triangle pattern, indicating indecision betwixt the bulls and the bears.

The 20-day EMA ($122) is flattish, and the RSI is conscionable supra the midpoint, indicating a equilibrium betwixt proviso and demand. If the terms sustains supra the 20-day EMA, the bulls volition effort to propulsion the LTC/USDT brace supra the absorption line. If they succeed, the brace could rally to $147.

Conversely, a interruption beneath the 50-day SMA ($117) opens the gates for a driblet to the enactment line. If this level gives way, the brace could plunge to $80.

Chainlink terms analysis

The nonaccomplishment of the bulls to commencement a beardown betterment from the enactment enactment triggered different circular of selling by the bears successful Chainlink (LINK).

If the terms sustains beneath the enactment line, the selling could accelerate, and the LINK/USDT brace could driblet to $12.71 and, subsequently, to $10.

If buyers privation to forestall the downside, they volition person to swiftly propulsion the terms backmost supra $16. The brace could past emergence to the 20-day EMA ($17.42), which is apt to enactment arsenic a stiff resistance. Buyers volition person to propulsion the terms supra the 20-day EMA to suggest that the interruption beneath the enactment enactment whitethorn person been a carnivore trap.

Avalanche terms analysis

Avalanche (AVAX) tried to emergence supra the breakdown level of $22.35 connected Feb. 27, but the bears held their ground.

The bears resumed selling connected Feb. 28. If the terms breaks and maintains beneath $20, the AVAX/USDT brace could retest the coagulated enactment astatine $17.29. This is an important level to ticker retired for due to the fact that a interruption beneath it whitethorn descend the brace to $15.

Time is moving retired for the bulls. They volition person to propulsion and support the terms supra the 20-day EMA ($24.55) to commencement a recovery. The brace whitethorn emergence to $27.50, which is again expected to enactment arsenic a resistance.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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