By tomorrow, the SEC is expected to release its decision on the spot ETH ETF. Predictions indicate that after the U.S. markets close on May 23, the SEC will announce whether it approves or rejects the VanEck ETF, which includes several altcoins. This period may witness significant volatility in the charts of DOGE, ADA, and AVAX. Analysts and investors are eager to see the outcome.
What Does DOGE’s Chart Indicate?
Currently, DOGE bears have dominated at the $0.17 mark. The 20-day EMA stands at $0.15, and attempts for a price surge may occur as long as this threshold holds. Should the price rise above $0.17, DOGE might retest the $0.21 and $0.23 areas. Conversely, if the current price trend persists, the narrow range movements could continue, possibly resulting in prolonged stagnation.
Which Path Will ADA Coin Follow?
ADA’s price recently surpassed the 50-day SMA ($0.49) but quickly retreated from $0.52. If weakness prevails, ADA could head towards lower support levels. Alternatively, if momentum shifts, the aim is set at $0.57. Despite low volatility keeping key regions stable, investors continue to monitor ADA’s movements closely.
Following positive news on Monday, AVAX experienced a swift upward movement, reclaiming the $40 level. This uptrend, which began from the 20-day EMA ($36.62), now sees AVAX trading above the general resistance of $40. Moving averages and RSI indicators favor continued ascent, with the psychological resistance at $50 being crucial for further gains. However, if the price declines, a drop to $29 could be expected, as seen with recent reversals from $31.5.
Key Insights for Traders
- DOGE could surge if it maintains above $0.15 and breaks $0.17 resistance.
- ADA may face downturns if it fails to hold above $0.49; conversely, $0.57 is the target if upward momentum builds.
- AVAX’s ability to stay above $40 suggests strong resistance at $50; a significant drop to $29 is possible if the trend reverses.
The SEC’s impending decision on the spot ETH ETF is poised to impact market dynamics significantly. Investors should remain vigilant and prepare for potential volatility in the coming days.