This week, many investors are experiencing a sense of déjà vu as altcoin prices reflect levels last seen when Bitcoin (BTC) was around the $40,000 mark. Numerous cryptocurrencies have hit new lows in BTC pairs, prompting the question: is a recovery on the horizon?
BNB Coin: What to Expect?
After reaching a new all-time high, BNB Coin is fluctuating between the resistance levels of $560 and $635. If it dips below $560, there might be a stronger sell-off towards $536 and potentially $495. For those anticipating further BTC price declines, these could be appealing entry points. However, a sudden reversal next week could make current prices look attractive in hindsight. Predicting the future remains a challenge.
Which Levels Matter for SOL Coin?
SOL Coin is facing a significant test as bears turn previous support into resistance, focusing on a drop to $116. An encouraging sign for investors would be if SOL can close above $128, aiming for $148, which aligns with the 20-day EMA. Successful closes above this mark could lead to attempts at $176 and $188 once again.
Key Insights for Investors
- BNB Coin has crucial support at $560; a dip below could lead to significant sell-offs.
- SOL Coin needs to break and close above $128 to aim for higher targets.
- XRP Coin stability around $0.5 is critical for potential upward movement.
- Dogecoin must maintain $0.12 support to avoid further decline towards $0.08.
XRP Coin Analysis: What’s Next?
XRP Coin has shown minimal losses during the market downturn, providing some hope for bulls. The 20-day EMA at $0.5 is a critical level; closing above this could drive a move toward the SMA50 at $0.57. If it fails to hold, we may see a retest of $0.46 and $0.41.
Will Dogecoin Stabilize?
Despite efforts to hold the $0.12 support, Dogecoin’s recovery has stalled due to the persistent weakness in BTC prices. The EMA20 at $0.14 and RSI indicators suggest bears have the upper hand. There is a risk of further declines to $0.08 if the support level falters.