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BTC/USD plunges below $16,500 support

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After breaking $16,500, the bitcoin price forecast shows BTC falling slightly after being rejected at $16,638.

Bitcoin forecast stats data:

  • Bitcoin price now – $19,335
  • Bitcoin market cap – $370.6 billion
  • Circulating Bitcoin Supply – 19.1 million
  • Total bitcoin supply – 19.1 million
  • Bitcoin Coinmarketcap Ranking – No. 1

BTC/USD Long-Term Trend: Range (Daily Chart)

Key levels:

Resistance levels: $20,000, $22,000, $24,000

Support levels: $14,000, $12,000, $10,000

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The BTC/USD pair is now showing slight negative signs after touching the $42,237 resistance level today. Bitcoin price failed to reach the upper boundary of the channel. Therefore, the Bitcoin price It is dropping significantly with a loss of 1.68% in 24 hours of trading as it touches a daily low of $40,505.

Bitcoin Price Prediction: Bitcoin price could drop

The daily chart shows that the Bitcoin price It continues to develop some signs of weakness in the past few days. Therefore, the resistance that was provided during the European session continues to fail every time it tries to breach it and heads towards the upper border of the channel. However, the market price is still bearish as the RSI (14) signal line is moving to cross below the 40 level.

In the meantime, bitcoin price needs to break the $17,000 resistance to make the market bullish. But if the sellers push the market below the $16,000 support, the next level of support could be at $15,000. So, below this, additional support can be found at $14,000, $12,000 and $10,000 respectively. Moreover, if the bulls regroup and push higher, bitcoin price could reach the potential resistance levels at $20,000, $22,000, and $24,000.

BTC/USD medium-term trend: Bearish (4-hour chart)

Looking at the 4-hour chart, the BTC/USD pair is forming a descending channel. During today’s European session, Bitcoin (BTC) touched the $16,522.95 resistance level before retreating to where it is currently trading at $16,505. At the same time, more bearish movement could locate the support level at USD 16,000 and below.

BTCUSD – 4 hour chart

However, the technical indicator’s RSI (14) is recovering from the oversold area, and is now heading towards level 40. However, bitcoin price is rising towards the 9-day and 21-day moving averages; More bullish movements could push the price to the potential resistance level of $17,000 and above.

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Blockchain

BNT/USD is trading near the $0.50 resistance

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The Bancor price prediction shows that BNT is crossing the 9-day and 21-day moving averages while the coin is taking off to the upside.

Bancor Prediction Statistics Data:

  • Bancor price now – $0.34
  • Bancor’s market capitalization is $55.8 million
  • The circulating supply of Bancor – 162.5 million
  • The total supply of Bancor – 162.5 million
  • Bancor Coinmarketcap Ranking – #287

BNT/USD market

Key levels:

Resistance levels: $300, $310, $320

Support levels: $130, $120, $110

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BNTUSD – daily chart

BNT / USD It is currently trading at $0.345 after touching a daily high of $0.490, and is likely to return above the 9-day and 21-day moving averages. However, in case the buyers can push the price above the $0.50 resistance level, then the daily candlestick may close above this level, and the price may rise towards the upper boundary of the channel.

Bancor Price Prediction: Bancor is preparing for an upward movement

According to the daily chart, the Bancor price It is moving near the $0.40 resistance level as the coin is preparing for additional gains. The technical indicator’s RSI (14) is also moving to cross above the 50 level, where the signal line is pointing up to signal a buy signal.

However, if buyers are able to push the price and hold it above the 9-day and 21-day moving averages, Bancor price could rise towards the upper boundary of the channel to reach the potential resistance levels at $0.50, $0.55, and $0.60. While crossing below the lower border of the channel, it could lift the currency to the support levels at $0.25, $0.20, and $0.15, respectively.

Against Bitcoin, Bancor is following a bullish rally, and it could swing higher to cross above the upper boundary of the channel that could identify the resistance at 2400 SAT and above. On the other hand, if the market price crosses the lower boundary of the channel, it may reach the support level of 1800 SAT and below.

BNTBTC – Daily Chart

However, the technical indicator’s RSI (14) is currently moving to cross above the 50 level as the signal line is pointing north to confirm the upward move. Moreover, any further upward movement may create additional gains above the channel.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

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DYDX/USD could rise above $1.20

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Since the coin starts the upward movement towards the upside, the dYdX price forecast is likely to move steadily inside the channel.

dYdX prediction stats data:

  • DYDX price now – $1.10
  • DYDX market capitalization – $72.7 million
  • Circulating supply of DYDX – 65.5 million
  • Total supply of DYDX – 1 billion
  • DYDX Coinmarketcap Rank – #198

DYDX/USD Market

Key levels:

Resistance levels: $2.00, $2.20, $2.40

Support levels: $0.50, $0.30, $0.10

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DYDXUSD – daily chart

DYDX/USD is likely to cross above the 9-day and 21-day moving averages as the currency begins its upward movement. in the past few days, dYdX price Struggles to cross over to the positive side. According to the daily chart, the RSI (14) technical indicator moved to cross above the 40 level, confirming the bullish movement of the currency.

dYdX Price Prediction: DYDX is ready for an uptrend

the dYdX price It is currently moving north. If the currency continues its upward movement, the bulls may cross above the 9-day and 21-day moving averages, which could reach the resistance levels at $2.00, $2.20, and $2.40. At the time of writing, DYDX/USD is showing a slight bullish movement on the daily chart.

Conversely, if the coin slips below the lower boundary of the channel, it may bring the coin back to the $0.50, $0.30, and $0.10 support levels, respectively. Meanwhile, long-term buyers should not be alarmed by the small impact down the road, as the future of DYDX is assured as evidenced by the technical indicator’s RSI (14).

Against Bitcoin, dYdX price is hovering below its 9-day and 21-day moving averages as the coin is poised for an upward move. The technical indicator’s RSI (14) also confirms the upward movement as the signal line encounters the 40 level. On the contrary, a potential downside move could emerge if the market price crosses below the lower boundary of the channel, which could reach the support level 200 SAT and below.

DYDXBTC – Daily Chart

Meanwhile, any further bullish move above the moving averages could push the coin to the 1200 SAT resistance level and above, and this could take the coin to a new high, and the market could remain in the bullish zone.

But, Dash 2 Trading It gives you the ability to improve your trading and scalping profits with effective crypto trading recommendations, automated trading, and analytics features. There is a D2T token pre-sale going on and time is running out. The launch of the pre-sale dashboard is coming soon as the product developer is ahead of schedule. To date, the prequel has raised nearly $12 million.

Related

Dash 2 Tadawul – High Potential Pre-Selling

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SBF to Enter Plea Deal, Mango Exploiter Arrested, Celsius News: Hodler’s Digest, Dec. 25-31

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