The market might be living a relief even though the 4th of July hype expected by some didn't happen. But how green can we hope the market to look after Independence Day?
) slipped below the psychological level at $1,000 on June 30 but the bears could not capitalize on this weakness. This suggests that bulls are buying on dips.The bulls will now try to push the price above the 20-day EMA and gain the upper hand. If they do that, the ETH/USDT pair could rise to $1,280 and then to the 50-day SMA . This level could again act as a strong resistance. The bulls will have to propel the price above $1,700 to signal the start of a new up-move.
Conversely, if the price turns down from the 20-day EMA, it will suggest that the sentiment remains negative and bears are selling on rallies. The bears will then try to sink the price below $998 and challenge the critical support at $881.The buyers have successfully defended the support at $211 since June 29, indicating strong demand at lower levels. The bulls are presently attempting to pushIf they succeed, it will suggest that the BNB/USDT pair may have bottomed out at $183.
Contrary to this assumption, if the price turns down from the 20-day EMA, it will suggest that bears are selling on every minor rally. The bears will then again try to sink the price below $211 and gain the upper hand.has been trading inside a symmetrical triangle pattern, indicating indecision among the bulls and the bears. The symmetrical triangle usually acts as a continuation pattern but on some occasions, it also behaves as a reversal pattern.
A break and close above this level could suggest the start of a new up-move. The pair could then rally to $0.48. Another possibility is that the price turns down sharply from the 20-day EMA and breaks below the support line of the triangle. That could pull the pair down to the critical support at $0.28. If this level cracks, the next stop could be $0.23.
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