Price analysis 2/19: BTC, ETH, XRP, SOL, BNB, DOGE, ADA, LINK, XLM, LTC

On Feb. 9, Bitcoin (BTC) briefly rallied above $96,500, however the normal each day value motion has been extra of the identical sideways vary buying and selling as merchants await a catalyst to start out a trending transfer. The longer the worth stays in a variety, the stronger the eventual breakout or breakdown from it.

CryptoQuant CEO Ki Young Ju stated in a put up on X that Bitcoin would stay in a bull part even with a 30% drop to $77,000, based mostly on historic cyclical patterns. In a separate “Quicktake” weblog put up, CryptoQuant contributing analyst Timo Oinonen stated {that a} sharp correction in Bitcoin “might be a number of months or perhaps a 12 months away.” 

Even as Bitcoin consolidates, some analysts are turning constructive on Ether (ETH). Santiment analysts stated in a put up on X that solely 6.38% of Ether’s accessible provide stays on the exchanges as traders proceed shifting it to chilly wallets. That reduces the potential for a major sell-off, however the analysts added that the information needs to be thought-about a long-term metric fairly than used for swing buying and selling.

Could Bitcoin break above the important $100,000 resistance and pull altcoins greater? Let’s analyze the charts of the highest 10 cryptocurrencies to seek out out.

Bitcoin value analysis

Sellers pulled Bitcoin beneath the $94,000 assist on Feb. 18, however the lengthy tail on the candlestick exhibits strong shopping for at decrease ranges. 

The 20-day exponential shifting common ($97,539) has began to show down, and the relative power index (RSI) is within the detrimental territory, indicating a slight edge to the bears. If the worth turns down from the 20-day EMA, the BTC/USDT pair might plunge to the $90,000 assist. This stays the important thing degree for the bulls to defend as a result of a break beneath $90,000 will full a double-top sample.

If consumers need to make a comeback, they must push the worth above the 50-day easy shifting common ($98,954). If they try this, the pair might ascend to $102,500 and subsequently to $106,500.

Ether value analysis

Ether has been buying and selling beneath the breakdown degree of $2,850 for the previous few days, however the bears have didn’t sink the worth beneath $2,500. This means that promoting dries up at decrease ranges.

Buyers will attempt to push the worth to the downtrend line, an important degree for the bears to defend. If the worth turns down from the downtrend line however finds assist on the 20-day EMA ($2,789), it should sign shopping for on dips. That will increase the potential for a break above the downtrend line. The ETH/USDT pair might then climb to $3,400.

Contrary to this assumption, if the worth turns down and breaks beneath $2,500, the pair might decline to $2,400 and, after that, to $2,300.

XRP value analysis

XRP (XRP) is witnessing a tricky battle between the bulls and the bears close to the shifting averages.

If the worth turns down from the shifting averages, the bears will attempt to sink the XRP/USDT pair beneath the assist line of the symmetrical triangle. If they succeed, the pair might collapse to the strong assist at $1.77.

This detrimental view might be invalidated within the close to time period if the worth rises and breaks above the shifting averages. The pair might rally to the downtrend line, the place the bears are anticipated to mount a robust protection.

Solana value analysis

Solana (SOL) plunged and closed beneath the $175 assist on Feb. 18, indicating the beginning of a deeper correction.

However, the consumers are unlikely to surrender simply. They will attempt to push the worth again above $175. If they succeed, it should recommend that the breakdown beneath $175 might have been a bear lure. The SOL/USDT pair might rise to the 20-day EMA ($195) and later to the 50-day SMA ($211).

On the opposite, if the worth turns down from $175, it should recommend that the bears have flipped the extent into assist. The pair might stoop to $155 and subsequently to $133.

BNB value analysis

BNB (BNB) is making an attempt to rebound off the $635 assist, signaling strong demand at decrease ranges.

The aid rally is anticipated to face promoting on the 50-day SMA ($670). If consumers push and keep the worth above the 50-day SMA, it should point out that the BNB/USDT pair might swing between $745 and $635 for a number of days.

Contrarily, if the worth turns down from the shifting averages, it should point out promoting on minor rallies. That will increase the chance of a break beneath $635. If that occurs, the pair might slide to $596 after which to $557.

Dogecoin value analysis

Dogecoin (DOGE) has been steadily dropping towards the assist line of the descending channel sample, indicating that the bears are in cost.

Buyers are anticipated to defend the assist line, but when the bears prevail, the DOGE/USDT pair might retest the Feb. 3 intraday low of $0.20. If this degree additionally cracks, the pair might plunge to $0.15.

The first signal of power might be a break and shut above the 20-day EMA ($0.27). The pair might then rise to the 50-day SMA ($0.31), which is anticipated to draw sturdy promoting by the bears.

Cardano value analysis

Cardano (ADA) turned down from the 20-day EMA ($0.79) on Feb. 18, indicating that the sentiment stays detrimental, and merchants are promoting on rallies.

The bears will attempt to pull the worth to the assist line of the descending channel sample, which is a important degree to be careful for. A break and shut beneath the assist line might sink the ADA/USDT pair to $0.50.

On the upside, the bulls must push and maintain the worth above the 20-day EMA to start out a transfer to the 50-day SMA ($0.90). Such a transfer means that the pair might lengthen its keep contained in the channel.

Related: How lengthy will Bitcoin’s value consolidation final?

Chainlink value analysis

Chainlink (LINK) turned down sharply from $19.25 on Feb. 18, indicating that the bears are attempting to flip the extent into resistance.

If the worth closes beneath $17, it should sign the beginning of a deeper correction. The LINK/USDT pair might drop to the Feb. 3 low of $15.40. Buyers are anticipated to defend this degree as a break beneath it might sink the pair to $13.

Time is operating out for the bulls. If they need to make a comeback, they must push and maintain the worth above the 20-day EMA ($19.61). The pair might then rally to $22, suggesting that the markets rejected the breakdown beneath $19.25.

Stellar value analysis

Stellar (XLM) has shaped a big descending triangle sample, which is able to full on a break and shut beneath $0.31.

The downsloping 20-day EMA ($0.34) and the RSI within the detrimental territory point out benefit to sellers. If the $0.31 assist cracks, the promoting might intensify, and the XLM/USDT pair might drop to $0.26 and thereafter to $0.20.

Instead, if the worth breaks above the 20-day EMA, it should open the doorways for a doable rally to the downtrend line. Buyers must pierce the downtrend line to point that the correction could also be over.

Litecoin value analysis

Litecoin (LTC) broke above the symmetrical triangle sample on Feb. 19, indicating that the indecision resolved in favor of the bulls.

The upsloping 20-day EMA ($121) and the RSI within the constructive zone recommend the trail of least resistance is to the upside. If consumers keep the worth above the resistance line, the LTC/USDT pair might surge to $147. The sample goal from the breakout of the triangle is $197.

Contrary to this assumption, if the worth fails to maintain above the resistance line, it should sign a scarcity of demand at greater ranges. The pair might then drop to the 20-day EMA, which is anticipated to behave as a robust assist.

This article doesn’t comprise funding recommendation or suggestions. Every funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a choice.

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