AI Trading

Bitcoin entered the weekend trading below $27,000. Some analysts are now convinced that the largest crypto by market cap may soon drop to $20,000 if the weakness seen recently persists. While that’s possible, the bulls are expected to put up a good fight at protecting the support level of $25,000.

Let’s now analyze the prices of Bitcoin and other major crypto assets.

Bitcoin Price Analysis

BTC hit the $25,865 support level on Thursday morning. But later that day, the bulls staged a short recovery, pushing the price above $26,000. The crypto asset currently trades at $26,657. The buyers will now try to get Bitcoin above the 20-day EMA (Exponential Moving Average) of $27,231, a level where the bears are expected to exact strong selling pressure.

AI Trading

If the sellers do start a downturn, BTC may plummet to $25,000 and subsequently to $20,000. On the contrary, in case the bulls stage another rally above the 20-day EMA, the price may retest resistance at $28,216.

Ethereum Price Analysis

Since Thursday, ETH has traded above the $1,790 support level thanks to the bulls who aggressively bought the dip. It changes hands $1,823 as of Saturday evening. The current price is, however, below the 20-day EMA of $1,828. If the bulls push the price above this level, a rally toward the $1,910 resistance level is possible. Conversely, a drop below $1,790 opens up the possibility of a further decline to $1,743.

BNB Price Analysis

The current Binance Coin price ($303) is slightly above the crucial support level of $301. However, a long tail formed on a candlestick on Friday suggests a strong buying activity. If a rally begins, the key resistance to look for is at the 20-EMA of $312. A downturn at this level will cause the token to sink below $301 and head down to second support at $276. On the upside, sustaining the price above $312 could help the bulls start a rally toward $349.

XRP Price Analysis

XRP has been rallying since Wednesday, when it crossed above the 20-day EMA of $0.451. As of this writing, the Ripple-issued coin has broken the barrier at the 50-day Simple Moving Average ($0.470) to trade at $0.0471. This gives the bulls a massive opportunity to drive XRP up to retest resistance at $0.542. Breaking this barrier provides room for a further rally to $0.584.

On the downside, a price below $0.451 could suggest a comeback by the bears. They will seek to pull XRP down to the $0.402 support level.

Cardano Price Analysis

The bulls defended the 20-day EMA of $0.371 on Thursday and Friday but could not sustain the fight on Saturday, letting the bears sink ADA to $0.363 as of this writing. The sellers may be aiming to fuel a further drop to $0.352 and then to $0.031. However, if the bulls wish to stage a rebound, they must act quickly to push ADA’s price above $0.371. Doing so increases the chances of a rally to the $0.443 resistance level.

Dogecoin Price Analysis

The bears managed to pull DOGE to the support level of $0.070 on Thursday. This price attracted buyers who began buying the dip. They have now succeeded in getting the dog-themed token above the 20-day EMA of $0.071. More buying pressure is needed to push Dogecoin to retest resistance at $0.080.

Note that if the price starts trending down from $0.071, the sellers may block every buyers’ attempt to mount a rally, causing ADA to head toward the support level of $0.069.

Polygon Price Analysis

MATIC is currently valued above the 20-day EMA of $0.898. It trades at $0.918 after posting a 7-day growth of 4.73%. The bulls may push the token to the 50-day Simple Moving Average ($0.980), where the bears are expected to resist any further rally. Conversely, Polygon might find support at $0.829 if the bears pull the price below $0.898. Also, a further drop to $0.697 is possible.

AI Trading produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.

James Davis

By James Davis

James Davis is a prominent crypto writer and analyst at Herald Sheets, recognized for his well-researched articles and thorough analysis of the dynamic digital currency market. Holding a degree in Economics from Harvard University, James combines his academic background with a keen interest in cryptocurrency to provide readers with the latest industry insights and trends.