Here are the Current Forecasts for Bitcoin, DOGE, XRP and These 7 Altcoins!

Analyst Rakesh Upadhyay’s current forecasts for Bitcoin, ETH, BNB, SOL, ADA, XRP, LUNA, AVAX, DOT and DOGE cryptocoin.com‘in. Currently, bulls are buying every dip and bears are selling the highs of every rally, suggesting that BTC and altcoins will stay range-bound for a while. Bitcoin (BTC) and most major altcoins are facing selling on higher highs and buying on dips, indicating the possibility of a range formation. Will Bitcoin and most major altcoins stay range-bound in the short term? Let’s examine the charts of the top 10 cryptocurrencies to find out.

Predictions for Bitcoin

BTC/USDT. Bitcoin retraced from the 20-day exponential moving average (EMA) ($44,681) on Jan. 13, indicating that the bears continue to sell in rallies. The bears will now try to pull the price back to the strong support at $39,600. Both moving averages are sloping down and the relative strength index (RSI) is in negative territory, suggesting that the path of least resistance is to the downside. However, the bulls are unlikely to give up $39,600 easily. A strong recovery from the current level or $39,600 will suggest accumulation lower. The pair could stay range-bound between $39,600 and $45,456 for a few days later. A break and close above $45,456 will be the first indication that the correction may be over. The pair could then start its upward walk towards $52,088.

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ETH/USDT. Ether’s (ETH) retracement from the support line of the descending channel on Jan. 10 failed to even reach the 20-day EMA ($3,485), which indicates that demand has dried up at higher levels. The moving averages are falling and the RSI is below 40, which indicates that the bears are in control. Sellers will now try to pull the price into the zone between the psychological level of $3,000 and the support line of the channel. On the contrary, if the price rises from the current level, the bulls will make another attempt to push the ETH/USDT pair above the 20-day EMA. If successful, the pair could rally to the resistance line of the channel and then to the 50-day simple moving average (SMA) ($3,893).

BNB/USDT. Binance Coin (BNB) is facing strong resistance at the 20-day EMA ($487). This shows that traders are not in a rush to exit. If the price rises above the 20-day EMA, the bulls will try to break through the overall hurdle at the downtrend line. If they can achieve this, the BNB/USDT pair will signal a possible change in trend. According to the analyst, the pair could attempt a rally to $617 later. Conversely, if the price breaks from the 20-day EMA or downtrend line, it indicates that the bears are selling on rallies. This could keep the pair in the channel for a few more days.

Bitcoin (BTC)'s Next Step To These Levels

SOL/USDT. Solana (SOL) reached the 20-day EMA ($157) on Jan. 13, but the bulls failed to break through this overall hurdle. The bears will now attempt to continue the downtrend by pulling the price below the $130 support. If they do, the SOL/USDT pair could drop to the next important support at $116. The downward sloping moving averages and the RSI in the negative zone indicate that the path of least resistance is to the downside. Contrary to this assumption, if the price rises above the 20-day EMA, the pair could rally towards the resistance line of the channel.

Will Cardano start a bull rally?

ADA/USDT. Cardano (ADA) bounced back from the 50-day SMA ($1.35) on Jan. 13, but the bulls did not allow the price to drop below the $1.18 support. The bulls will now try to push and sustain the price above the 50-day SMA. If they do, the ADA/USDT pair could rally towards the resistance line of the descending channel. A break and close above the channel could indicate the end of the downtrend. Alternatively, if the price drops from the 50-day SMA, it will indicate that the bears are continuing to sell in the rallies.

Weekly Forecast For Ripple: XRP Plays To These Levels!

XRP/USDT. Ripple (XRP) bounced back from the 20-day EMA ($0.80) on Jan. 13, but a minor positive was that the bulls did not allow the price to drop below the support at $0.75. If the bulls push the price above the moving averages, it suggests that the bears may be losing control. According to the analyst, the XRP/USDT pair could later rise to the overhead resistance at $1. If the price drops from this level, the pair could remain range-bound between $1 and $0.75 for a few more days.

LUNA/USDT. Terra’s LUNA token broke above the resistance line of the channel on January 12 and closed. The bears tried to push the price below the 20-day EMA ($78.61) on Jan. 13 but failed. Buyers are currently trying to push and sustain the price above the channel and overhead resistance at $83.86. If they manage to do so, the LUNA/USDT pair could rally to $93.81. The 20-day EMA is trying to rise and the RSI has rallied into the positive zone, which indicates that buyers are trying to make a comeback.

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DOT/USDT. Polkadot (DOT) bounced back from the 20-day EMA ($26.81) on Jan. 13, but the positive sign is that the bulls are not leaving much ground. The bulls are currently trying to keep the price above the moving averages. If they do, the DOT/USDT pair could rally to the overhead resistance at $32.78. The flat 20-day EMA and RSI near the midpoint suggest a balance between supply and demand. If the price drops from $32.78, the pair could extend its stay in the range for a few more days. The next trend move could start with a break and close above the overhead resistance at $32.78 or below the support at $22.66.

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AVAX/USDT. Avalanche (AVAX) bounced back from the 20-day EMA ($96) on Jan. 13, indicating that the bears continue to sell in rallies. If the price bounces back from the current level, buyers will try to push the price back above the moving averages. If they are successful, the AVAX/USDT pair could rise to the downtrend line of the triangle. A break and close above the triangle suggests that the correction may be over. The pair could rally to $128 later. Contrary to this assumption, if the price drops below the bullish line of the channel, the pair could retest the critical level at $75.50. If this support is broken, the pair could start a decline towards $57 and then towards $50.

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DOGE/USDT. Dogecoin (DOGE) broke and closed above the 20-day EMA ($0.16) on Jan. 13; this was the first indication that selling pressure could drop. This was followed by another sharp move that pushed the price above the firm overhead resistance of $0.19 on Jan. 14. However, the long wick on the January 14 candlestick indicates that the bears continue to sell higher. If the price stays below $0.19, the DOGE/USDT pair could drop to the moving averages. Conversely, if the price continues above $0.19, the bulls will make another attempt to clear the overhead resistance zone between $0.22 and $0.24.

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