continues to rebound cryptocurrencies – 2023 is a good start Bitcoin is up 30%. Thus, BTC attracts capital and its dominance increases dramatically. a week after the announcement laying off 20% of the workforceCoinbase’s price shows a An increase of over 80%. Institutional players are interested in cryptocurrencies again, will the dynamics be bullish in the face of this frenzy? This Exchange Token is Weekly!
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Despite Bitcoin’s Rise, Binance Coin Remains in Bearish Momentum
Bitcoin has changed its momentum in a short time with this beautiful leap In 2023. Altcoins appear less attractiveLike Binance Coin (BNB). Indeed, BNB is bouncing back, but short-term momentum remains bear :
The course is registered in a tidied up Between 330 dollars and 215 dollars. To restart a rate of rise weekly, buyers will have to close above 400 dollars. BNB broke recently lower trend line and bounced back from it, but the momentum remains fragile.
By falling under 250 dollars on December 15th, BNB noted up and down troughs. This suggests that momentum is in the hands of sellers until proven otherwise. However, this rebound does not change the dynamics in the short term. Right now, the price is going up « V-bottom“, a remaining structure fragile. The price may drop to change the experience bracket is $260then go up and break the endpoint 314 dollars.
As explained in the introduction, Bitcoin attracts capital. Given the situation, it seems logical that the price of the BNB/BTC pair will show symptoms of anxiety :
Last week we identified two possible scenarios for the price of the BNB/BTC pair. It seems that the course has chosen the scenario that the red arrow has realized. He stumbled in front of the price institutional bias It is slipping dangerously below (EMA 9/EMA 18). support. It seems quite possible that the courses will be connected to the next courses weekly support. For now, the dynamic remains bearTo change the momentum, it will be necessary to mark a higher peak than before.
is an impulse bearThe RSI recorded a new low below 41. Speed will remain fragile as long as it develops under lower trend line.
Coinbase penalizes sellers and rises above 80%
Because the Coinbase course is interesting to learn provides clues about institutional actors. This move shows some interest in cryptocurrencies. For buyers, the goal was to return to the top resistance $48. With this big rebound, buyers managed to fold sellers:
Movement below the technical level 48 dollars looks like a DETURN. In theory, the price has returned to its previous state tidied up Between 48 dollars and 80 dollarsThe goal is to get back to your level now resistance $80. Note that this rebound occurred in a fragile “V bottom” structure, so let’s be cautious. you will have to hack lower trend line and change the dynamics to avoid a new wave of recession (green arrow).
on the side impulse, the situation is improving. after a few months under lower trend line, RSI is now moving above. We will have to continue to build momentum with bottoms and rising tops. If there is a fence above 53 The momentum of the RSI will indicate a rise differential.
Could OCD fall to $22?
The OKX platform icon is inside upward trendbut struggles to beat the price resistance $32. There have been several times that the price has been blocked at this level for several days, a refusal cannot be excluded:
To start again rate of rise on a weekly basis, the price should close above 34 dollars. However, it is blocked at the price level for the moment resistance. Remember that the course is in a tidied up Between 32 dollars and 10 dollars. Therefore, there will be no possibility of a new refusal. Also, the momentum is at a resistance zone In RSI and overbought zone. So, a twist 22 dollars quite possible.
If buyers manage to exceed resistance and causes the price to close higher 34 dollarsmomentum will continue and the first theoretical target is the recent all-time high 44 dollars.
Is Kucoin Coming Back To $8.5 Soon?
KCS is rebounding at the level $6.5 weekly supportBuyers have the option to push up resistance $8.5 :
It develops under the price lower trend line, as long as this is the case, sellers have the ability to regain control. The course is running resistance $8.5, it can be rejected at first. The momentum is at a dual resistance :
- Resistance 55 From the RSI: this has pushed the price back several times since February 2022. A new rejection cannot be ruled out.
- The lower trend line : Trend line established in February 2021. It has been ever since two years The RSI is moving below this downtrend line.
If the RSI manages to break out of this dual resistance, large-scale movement may occur. Is Kucoin exchange token price ready to punish sellers?
the Binance Coin it leaps from above and develops 260 dollars, but momentum remains low in the short term. Couple BNB/BTC Even if Bitcoin appears to attract capital, it shows fragility. In the US market, Coinbase surprises and posts an increase of more than 80% in a few days. Hosted by Cathie Wood. The price ranges between $48 and $80, which is good news for cryptocurrencies. OKB remains below the resistance at $32, and it seems possible that the price will pause and return to the support level at $22. KCS is rising above the support level at $6.5, a return to the resistance level at $8.5 seems possible. The token exchange sector is recovering, but there is still a lot of resistance to overcome before starting a long-term uptrend.
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