Top 10 Cryptocurrencies Price analysis 2/17: BTC, ETH, DOT, ADA, XRP, BNB, LTC, BCH, LINK, XLM

price analysis 217 btc eth dot ada xrp bnb ltc 
bch link xlm bitcoin btc is gradually gaining   ground on gold the traditional store of value data 
shows that one ounce of gold can only buy 0.0352   bitcoin as of february 17th the lowest amount of 
btc eve this shows that bitcoin has been rewarding   its investors much more than gold bitcoin 
has massively outperformed gold over various   time frames even if the latest one-year data is 
considered bitcoin's risk-adjusted return is 270   percent while gold's is only 24 as of december 28 
2020. the result further skews hugely in favor of   bitcoin if longer time frames of four years or 
eight years are compared in the past few years   bitcoin has matured as an asset class during 
the previous bull run in 2017 bitcoin's 60-day   volatility was at 32 but in the current bull phase 
bitcoin has recorded lower volatility at 14.25   analysts believe that as the institutional 
adoption increases the volatility could drop   further and there are no signs of a slowdown 
in the number of institutions showing interest   in bitcoin elliptic co-founder tom robinson told 
the telegraph that many u.s financial institutions   are seriously considering launching some type 
of cryptocurrency service if the institutional   adoption continues to grow the sentiment is likely 
to remain positive let's analyze the charts of   the top 10 cryptocurrencies to spot the levels on 
the upside that may act as significant resistance   btc usd the psychological level at 50 000 saw only 
minor resistance to bitcoin which shows that the   bulls are firmly in command and not hurrying to 
book profits as they anticipate the bull run to   continue btc usdt daily chart source trading view 
a new all-time high above 51 000 is a sign of   strength the up-sloping 20-day exponential moving 
average 43 451.

And the relative strength index   rsi in the overbought zone suggest bulls are in 
control if the bulls can sustain the price above   50 000 for three days the btc usd pair could 
rally to 60 974.43 where the bears may step in   on the downside the first support is the 20-day 
emma and if the bears can sink the price below it   the decline could extend to the 50-day simple 
moving average 37 415 this is an important level   to watch because a break below it will suggest a 
momentum shift to the bears eth usd ether eth is   currently range bound between 1658.572 dollars and 
one thousand eight hundred sixty nine point four   seven three dollars the long tail on the february 
15 candlestick shows the bulls are buying on every   minor dip the buyers will now try to propel the 
price above 1869.473 dollars eth usdt daily chart   source trading view if they succeed the eth usd 
pair could start the next leg of the uptrend which   has a target objective at two thousand dollars 
this is an important resistance but if the bulls   can drive the price above the channel the momentum 
could accelerate the next target objective on the   upside is 2 515 contrary to this assumption 
if the price fails to rise above 1869.473   the pair may consolidate in the range for a few 
more days a break below the 20-day emma 1658   will be the first sign of weakness and a trend 
change will be signaled if the bears sink the   price below the support line of the channel 
dot slash usd polka dot dot rose to a new   all-time high on february 16th and followed it 
up with another new high today which shows that   the bulls are firmly in command however the bears 
are defending the resistance line of the channel   dot slash usdt daily chart source trading view 
if the bulls can thrust the price above the   ascending channel the momentum could pick up 
and the dot slash usd pair could rally to 42   on the other hand even if the price 
sustains in the upper half of the channel   the uptrend may gradually continue the first sign 
of weakening momentum will be a break below the   midpoint of the channel if that happens the pair 
may decline to the support line of the channel   this is an important support level because a break 
below it could indicate a trend change ada usd   after the sharp rebound from the lows on february 
15th cardano ada formed an inside day candlestick   pattern on february 16 and a doji candlestick 
pattern today which shows a balance between   supply and demand ada usdt daily chart source 
trading view the bulls will now try to push the   price to zero point nine eight one seven seven one 
two dollars this level is likely to act as a stiff   resistance but if the bulls can drive the price 
above it the ada slash usd pair could rally to   cents and then to one dollar and 50 cents 
on the other hand if the price turns down   from the current level or the overhead 
resistance the pair may drop to 0.687   a bounce off this level could keep the price 
range bound between 0.687 and 0.981 x rp   usd xrp price attempted to bounce off 50 cents on 
february 14th and 15th as seen from the long tails   on the candlestick but the bulls could not sustain 
the rebound this suggests that demand dries up at   higher levels xrp usdt daily chart source trading 
view the failure to achieve a strong rebound off a   critical level suggests the momentum has weakened 
the xrp usd pair could now consolidate between 50   cents and 65 cents for a few days a breakout 
of 65 cents could push the price to 0.78068   contrary to this assumption if the price dips and 
breaks below the 20-day emma 48 cents the pair may   decline to the 50-day sma 35 cents bnb usd binance 
coin bnb broke out of the 117.7289 to 141.32 range   it had been stuck in for the past few days the 
momentum picked up today and the buyers easily   propelled the price above the all-time high at 
148.

Bnb usdt daily chart source trading view   a breakout to a new all-time high after a shallow 
correction shows that traders are buying on every   minor dip and not waiting for a deeper correction 
to get in the bnb usd pair could now rally to 200   however traders should keep an eye on the 
rsi as it has been trading in the deeply   overbought levels for the past few days this 
suggests that the pair remains vulnerable to a   correction or further consolidation the first 
sign of weakness will be a break below 141.32   and the trend may favor the bears if 
the 117.7289 support cracks ltc usd   litecoin ltc completed a successful retest of 
the 185.5821 level on february 15th and the   bulls are now attempting to resume the uptrend 
by pushing and sustaining the price above 230.5   if they managed to do that the altcoin could 
rally to 256 dollars and then 272 dollars ltc   usdt daily chart source trading view the upsloping 
moving averages in the rsi and the overbought zone   indicate that bulls are in command however if 
the bears defend the overhead resistance the ltc   usd pair may consolidate between 185.230 for a few 
days this positive view will be invalidated if the   pair turns down and breaks below 185.5821 such a 
move will suggest that the supply exceeds demand   the next support on the downside is the 50-day 
sma 156 dollars bch slash usd bitcoin cash bch   formed a long-legged doji candlestick pattern 
on february 15 in an inside day candlestick   pattern on february 16.

Both these formations 
indicate indecision among the traders about the   next directional move bch usd daily chart source 
trading view if the uncertainty resolves to the   upside and the bulls drive the price above the 
745.39 to 773.32 overhead resistance zone the   bch usd pair could resume the uptrend and rally to 
900. the upsloping moving averages and the rsi in   the overbought territory suggest that the path 
of least resistance is to the upside conversely   if the price turns down and slips below 670 the 
next stop could be the breakout level at 631.   cents if this support also cracks the decline 
may extend to the 20-day emma 563 dollars link   usd chain link link had recovered sharply from the 
intradelos on february 15 but the bulls could not   build upon the strength and push the price above 
the resistance line of the ascending channel   this attracted profit booking from short-term 
traders and that pulled the price down to the   midpoint of the channel link slash usdt daily 
chart source trading view the long tail on   today's candlestick shows the bulls are buying 
on dips if they can sustain the recovery the   price may again rise to the resistance line of 
the channel a break above the channel may start   the journey towards the next target objective 
at 44 on the contrary if the price again turns   down from the resistance line the link slash usd 
pair may continue its journey inside the channel   a breakdown and close below the channel will 
tilt the advantage in favor of the bears   xlm usd stellar lumens xlm also formed an 
inside day candlestick pattern on february 16   which shows indecision among the bulls and 
the bears the bulls are currently attempting   to push the price above 0.517 xlm usdt daily 
chart source trading view if they succeed it   will suggest that demand exceeds supply and 
that could result in a retest of 0.600681   a breakout of this resistance will indicate 
the resumption of the uptrend the rising   moving averages in the rsi near the overbought 
zone suggest that bulls have the upper hand   contrary to this assumption if the price turns 
down from the current level and slips below 0.409   it will suggest weakness and open the doors for a 
possible drop to 35 cents and then to the 50-day   sma 31 cents the views and opinions expressed 
here are solely those of the author and do not   necessarily reflect the views of coin telegraph 
every investment and trading move involves risk   you should conduct your own research when making 
a decision market data is provided by hitbtc exchange you

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