Price analysis 8/10: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, MATIC, AVAX
After Aug. 10’s neutral CPI print, Bitcoin and altcoins are attempting to flip stiff overhead resistance levels to support in order to prepare for the next leg up. The Aug. 10 Consumer Price Index (CPI) report shows year-over-year inflation rose 8.5% in July and while this figure is below economists’ expectations of 8.7%, it is still high. Although inflation remains much higher than the Federal Reserve's 2% target, the marginal slowdown raises hopes that the rate hikes by the Federal Reserve have started to work. That has reduced the probability of a 75 basis point rate hike in the....
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DOGE’s price shows strength as it bounces from a downtrend range price rallied to a high of $0.088 with eyes set on $0.1. MATIC could rally more as the price creates more bullish bias breaking out of its descending triangle with good volume as the price could rally to $1. KLAY’s price remains strong on the daily timeframe above the 50 Exponential Moving Average (EMA) as the price aims for more rallies. The top 3 altcoin performers for the week have been MATIC, DOGE, and KLAY, considering how these altcoins held their key support and showed resilience in the early part of....
The price of Avalanche (AVAX) slips at $30 against Tether (USDT) as Avalanche (AVAX) eyes key support to hold the price from selling off. AVAX showed great strength rallying to a high of $30 but was rejected as Bitcoin’s (BTC) price continued to go lower, affecting the price of AVAX from trending higher. (Data from Binance) Related Reading: Why Bitcoin Is Oversold As BTC Reclaims Territory North Of $20,000 Avalanche (AVAX) Price Analysis On The Weekly Chart According to the chart, the price of AVAX had a strong bullish bias at $30, but the price was rejected from that region,....
Despite showing great recovery signs from a low of $0.33 with over 80% gains in weeks, Matic price faces strong resistance at $1. July has been good for most crypto projects, with the price of Matic surging to over 80% gains in just one month, although Matic price faces steep resistance at the $1 mark. Matic Weekly Chart Analysis The price of Matic moved from the low of $0.33 to a high of $1 before seeing a rejection to a region of $0.80. Matic saw a relief bounce when it met its all-time high (ATH) of 2021; this became a good support for Matic to build more buy pressure for a good relief....
The price of Polygon (MATIC) has struggled to stay above the key support zone of $0.8 as the price of Bitcoin (BTC) showed indecision for weeks as the price moved in a range for weeks between $19,500-$20,000 with the price stalling on the next movement. This has affected the price of altcoins, including Polygon (MATIC), as prices dropped below $0.8 but reclaimed that region quickly. (Data from Binance) Related Reading: Why Ethereum Price Longs Might Profit Ahead Of “The Merge” Polygon (MATIC) Price Analysis On The Weekly Chart The price of MATIC has had a difficult time replicating its....
AVAX price ranges below 50 and 200 EMA on the daily timeframe. Price continues to maintain a downtrend as it aims to break out to the $20 range. AVAX price closes attempting to break out of its downtrend on low timeframe. Avalanche (AVAX) price has failed to sustain its head high above the blood bath of the bear market against tether (USDT). With what proved to be a major run for the price of Avalanche (AVAX) from a low of $10 to a high of $145, many predicted the AVAX project causing a major upset for many crypto projects. The statistics from the coupled Consumer Price Index (CPI) and....