Bitcoin has maintained its range of $26.5k-29.5k, battling the 21 EMA level on the 4h chart, and holding support over the 21 EMA on the daily chart. The asset also gained strength by establishing a foothold above the 200 MA on the weekly chart, bolstering its bullish credentials. This is notable for the premier virtual asset, since it serves as a boost to Bitcoin’s bullish credentials in the upcoming period.
Recently, the price of Decentraland (MANA) has dropped below the 21 EMA on the weekly chart and is currently being held as a resistance level. However, it has managed to stay above the 200 MA on the daily chart, despite briefly dipping below it last month. Its price has consolidated within the $0.48–0.84 range, which could potentially serve as a platform for a significant price swing in the near future. Although there are some indications of a decline in bearish momentum on higher time frames, it is too early to determine the nature of the token’s next major market move.
Dogecoin (DOGE) printed a Dragonfly Doji on the monthly chart while holding the 200 MA as resistance on the daily chart. It broke past this level on April 1, 2023, before rocketing from the $0.0765 price to reach the $0.1048 level, just two days later. A weekly close at this level would be significant for the premier meme coin in the cryptocurrency market, as traders would be attentive to potential gains made from a potential sustained rally to higher price levels. Should the $0.1045 resistance level turn into a support, the $0.1200 price level would serve as the next target for the bulls.
In the recent period, Aave (AAVE) has displayed erratic behavior in the market. It previously held the 200 daily MA as a support level, but dipped below it twice, with a surge to the $82 price level in between. However, after its second dip, it has reclaimed the same level as support and appears to be holding above the significant $72.5 level on the weekly chart. Traders have taken note of this, as it increases the possibility of bullish market behavior if this level is sustained over a longer period. As a result, they will closely monitor the token’s price action in the coming weeks.
Stay tuned for weekly updates on the cryptonews and performance of major tokens and coins.