Bitcoin and select altcoins are seeing buyers at lower levels, indicating a rise in positive sentiment.
Bitcoin is struggling to stay above $31,000, but a consolidation near resistance is a positive sign. A shallow pullback should not be seen as a trend change.
Binance CEO CZ believes Bitcoin could have a bull year after its halving in 2024, and BlackRock’s involvement in cryptocurrencies will benefit the industry.
Positive comments from BlackRock CEO Larry Fink about Bitcoin could act as a floor during pullbacks.
Bitcoin needs to overcome important overhead resistance levels to signal a short-term up move.
Ether is facing strong resistance at $2,000, but if it turns up from current levels, it could start a rally.
BNB has been consolidating between $257 and $220, with bears having an edge.
XRP is trading between the 20-day EMA and support at $0.45, and a breakout is expected soon.
Cardano has been trading between $0.30 and $0.24, with traders buying near support and selling near resistance.
Dogecoin remains range-bound between $0.07 and $0.06, with bulls needing to push above resistance to take control.
Solana has bounced off the 50-day SMA and may climb to $24 if it sustains above the downtrend line.
Litecoin faces strong resistance at $106, and a break below the 20-day EMA could lead to further decline.
Polygon slipped below the 20-day EMA, but a rebound from the uptrend line could resume the up move.
Polkadot is oscillating between $4.74 and $5.64, with a break above $5.15 indicating strength.
Summary:
– Bitcoin and altcoins are finding buyers at lower levels, suggesting positive sentiment.
– Bitcoin needs to overcome resistance levels for a short-term up move.
– Positive comments from BlackRock CEO could act as a floor during pullbacks.
– Altcoins like Ether, BNB, XRP, Cardano, Dogecoin, Solana, Litecoin, Polygon, and Polkadot are facing different challenges and levels to watch.
