The article provides technical analysis for 11 cryptocurrencies: Dogecoin (DOGE), Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), Shiba Inu (SHIB), and others. Here’s a summary of the analysis:
Bullish Trends
- Cardano (ADA): The bulls are expected to push and maintain the price above $1.20, allowing the ADA/USDT pair to rise to $1.24 and eventually to $1.33.
- Chainlink (LINK): If the price sustains above $27.41, it will signal solid buying on dips, and the pair could retest the overhead resistance at $31.
Bearish Trends
- Dogecoin (DOGE): The bears are selling on rallies, increasing the possibility of a break below the 50-day SMA. If that happens, the DOGE/USDT pair may drop to $0.30.
- Cardano (ADA): Sellers will try to pull the price to $0.90, which is expected to act as a strong support.
- Avalanche (AVAX): If the price sustains below the 20-day EMA, the AVAX/USDT pair could drop to the 50-day SMA ($39.52).
- Chainlink (LINK): A break below $27.41 may sink the pair to the 20-day EMA ($24.85).
Neutral Trends
- Shiba Inu (SHIB): If the price rebounds off the 50-day SMA with force, it will signal demand at lower levels. However, if the 50-day SMA cracks, the SHIB/USDT pair could descend to $0.000022 and later to $0.000020.
Overall, the analysis suggests that some cryptocurrencies are experiencing bearish trends, while others are showing signs of bullish momentum. As always, readers should conduct their own research and consider multiple factors before making an investment decision.
