Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!
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Bitcoin and many major altcoins are trading near general resistance levels. Crypto analyst Rakesh Upadhyay says this also increases the possibility of an upside push. Can altcoins including Bitcoin and DOGE start a rebound? The analyst studies the charts of the top 10 cryptocurrencies to find out.

An overview of the cryptocurrency market

Bitcoin (BTC) is on its way to close the year with a loss of about 65%. This will be the third negative year for Bitcoin, with the other two being 2014 and 2018. By comparison, the S&P 500 performed much better. However, in 2022, it experienced a decrease of nearly 20%. Even though cryptocurrency prices have seen deep drops this year, traders continued to pump money into the space. 41% of individuals responding to an online survey conducted by Blockchain.com say they have purchased crypto this year. Also, 40% plan to buy crypto next year.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!Daily cryptocurrency market performance / Source: Coin360

However, a sustainable recovery in risky assets can only occur after inflation shows signs of cooling. This will increase the expectation of the US Federal Reserve to return from aggressive fiscal tightening to an expansionary policy. In the middle, volumes are likely to remain weak during the holiday period. Therefore, markets are likely to remain volatile in the short term. Now it’s time for analysis…

BTC, ETH, BNB, XRP and DOGE analysis

Bitcoin (BTC)

BTC is struggling to hold on to the 20-day exponential moving average ($16,955). The bears tried to lower the price on December 22. However, the long tail on the candlestick shows strong buying on the declines.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

The bulls will try to break through the overall roughness in the moving averages. If successful, BTC is likely to gain momentum and move up to the strong overhead resistance at $18,388. This is a valuable level to watch. Because a break and close above it can attract large purchases. BTC is likely to rally to $21,500 later. If the bulls fail to push the price above the moving averages, higher levels indicate a lack of demand. The bears will try to seize this opportunity and push BTC below $16,256. If they do, it is possible for BTC to drop to the $15,476 reinforcement.

Ethereum (ETH)

ETH bounced off $1,150 and faced strong resistance at the 20-day EMA ($1,230) for the past two days. Sellers tried to push the price down on December 22. But the long tail on the candlestick indicates aggressive buying at the lower levels.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

The 20-day EMA is flat and the RSI is quickly below the midpoint, showing stability between buyers and sellers. A break above the 50-day SMA ($1,259) is possible to tip the short-term advantage in favor of the bulls. ETH is likely to rally to $1,352 later. Sellers will have to push the price below the $1,150 immediate foothold to gain the upper hand. Such a move completes a bearish head-and-shoulders pattern in the near-term. It is possible for ETH to drop to its goal of $1,075 first and then $948.

Binance Coin (BNB)

BNB has been consolidating near the $250 breakout level for the past few days. This indicates that the bears are maintaining this level. But a positive sign is that the bulls haven’t left much room.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

If the price rises above $255, it could trap a few aggressive bears who could be quick to close their shorts. It is possible that this will cause a short squeeze that could push the price towards the 50-day SMA ($283) and then $300. Instead, if the price drops from the current level and dips below $236, it will show that the bears are in control. Sellers will then try to push the price below $220. Thus, it will extend the fall to the spiritual boost of $200.

Ripple (XRP)

XRP is trying to start a recovery. However, it is likely to compete with selling near the $0.37 breakout level. Both moving averages are trending down and the RSI is below 40. This shows that the bears have the upper hand.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

If the price breaks from the 20-day EMA, the bears will try to push XRP below $0.33. If they do, XRP is likely to drop to the critical support of $0.30, which the bulls will likely try to hold. Another possibility is for the price to break above the current level and buyers push XRP above the overhead resistance of $0.37. If this happens, it is possible for XRP to rally to $0.41. Also, that’s probably going to act as a big inconvenience again.

Dogecoin (DOGE)

DOGE rebounded at $0.07, a strong anchor on Dec. 20. This shows that buyers are struggling to defend this level.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

The pullback is possible to reach the downtrend line where the bears will form a strong defense. If DOGE price turns down from this level, it will increase the possibility of a break below the support at $0.07. If this level is broken, selling is likely to accelerate and DOGE price to drop to the vital support at $0.05. Contrary to this assumption, if buyers push the price above the 50-day SMA ($0.09), it will mean strong demand at lower levels. It is possible for DOGE price to rally to $0.11 later. Also, it is likely to act as a strong barrier again.

ADA, MATIC, DOT, LTC and UNI analysis

Cardano (ADA)

Sellers tried to push the Cardano below the reinforcement line of the falling wedge pattern on December 21 and 22. However, the bulls successfully maintained the level.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

Buyers are trying to push the price up to the 20-day EMA ($0.29). This level is likely to act as a major obstacle. But if the bulls surpass this, it is possible for ADA to rise to the 50-day SMA ($0.32) and subsequently to the downtrend line. Conversely, if the price drops from the current level, the bears will appreciate their baht. As such, they will try to push the ADA below the reinforcement line. If they can achieve this, it is possible for the downtrend to extend as far as the spiritual support of $0.20.

Polygon (MATIC)

MATIC is trying to start a charity rally. But the bears are not in the mood to give up. They are facing a stiff resistance near $0.81. However, the long tail on the December 22 candlestick shows that the bulls continue to take the dips.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

If buyers push the price above $0.81, a rise to the 20-day EMA ($0.84) is possible for MATIC. The falling 20-day EMA and RSI below 41 suggest that the bears have a slight advantage. Sellers will try to stop the relief rally again at the 20-day EMA. If the price declines from this level, a retest of $0.76 is possible. Conversely, if buyers push the price above the 20-day EMA, MATIC may attempt to move up to the 50-day SMA ($0.90).

Polkadot (DOT)

The DOT fell below the $4.40 support on Dec. 22. However, as can be seen from the long tail on the candlestick, the bears failed to hold the lower levels. This indicates buying at lower levels.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

The bulls will have to push the price above the 20-day EMA ($4.92) to continue their buying and show strength. The DOT is likely to rise to the 50-day SMA ($5.45) later. Also, a true rally to the downtrend line is possible later on. Conversely, if the price drops and dips below $4.37, it will show that the downtrend remains intact. It is possible that the DOT will drop to $4 later. The downward sloping moving averages and the RSI near the very sell zone suggest that the bears are in command.

Litecoin (LTC)

LTC recovery is facing resistance near $67. The failure of the bulls to push the price towards the moving averages indicates that the bears are selling on every small rally.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

The moving averages are on the verge of a bearish crossover and the RSI is in the negative territory. This points to an advantage for the bears. If the price declines and breaks the $61 support, a drop to $56 is possible for LTC. If the bulls want to invalidate this negative view, they will have to push the price above the moving averages and sustain it. LTC may then attempt to climb higher to $75, where the bears may face strong resistance again.

Uniswap (UNI)

UNI trades in a narrow range midway between the symmetrical triangle’s fulcrum and $5.50. This shows that the bulls bought the lows but failed to break through the general mania at $5.50.

Buy-Sell Levels for DOGE, MATIC, BTC and These 7 Altcoins!

The downward sloping moving averages and RSI in the negative zone show an edge for the bears. If the price declines and dips below the triangle, a drop to $4.60 is possible for UNI. Alternatively, if the price rallies above $5.50, a rise to the 50-day SMA ($5.84) is possible for UNI. This level will again act as a resistance. However, if the bulls push the price above this, it is possible for UNI to reach the resistance line.

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