Bitcoin bulls are attempting a comeback, but the rise in the U.S. Dollar Index may limit the upside recovery.
Bitcoin has been stuck in a tight range, with low volatility indicating a potential range expansion.
The strength of the U.S. Dollar Index may weigh down risk assets, including Bitcoin.
Important support and resistance levels to watch for in Bitcoin and altcoins.
S&P 500 Index is facing resistance at the 20-day EMA, with support at the 50-day SMA.
U.S. Dollar Index is approaching a downtrend line, which could act as strong resistance.
Bitcoin slipped below the 20-day EMA but lacks aggressive selling at lower levels.
Ether is clinging to the 20-day EMA, indicating a balance between buyers and sellers.
BNB is trading below moving averages, with a symmetrical triangle pattern indicating uncertainty.
XRP is swinging between moving averages, with bears having the edge.
Cardano is correcting inside a descending channel pattern, lacking aggressive buying by bulls.
Dogecoin’s recovery was rejected at the downtrend line, with support at the ascending channel.
Solana is trading inside a range, with minor advantage for bulls above the 20-day EMA.
Polygon is struggling to break above the 20-day EMA, with a balance between supply and demand.
Summary:
– Bitcoin bulls are trying to make a comeback, but the U.S. Dollar Index may limit the upside recovery.
– Bitcoin and altcoins are experiencing low volatility, indicating potential range expansion.
– The S&P 500 Index is facing resistance at the 20-day EMA, while the U.S. Dollar Index is approaching a downtrend line.
– Bitcoin slipped below the 20-day EMA but lacks aggressive selling at lower levels.
– Ether is clinging to the 20-day EMA, while BNB is trading below moving averages with a symmetrical triangle pattern.
– XRP is swinging between moving averages, with bears having the edge.
– Cardano is correcting inside a descending channel pattern, lacking aggressive buying by bulls.
– Dogecoin’s recovery was rejected at the downtrend line, with support at the ascending channel.
– Solana is trading inside a range, with a minor advantage for bulls above the 20-day EMA.
– Polygon is struggling to break above the 20-day EMA, with a balance between supply and demand.