The rejection of ETF applications by the SEC caused a temporary dip in Bitcoin and altcoin prices, but the shallow fall suggests that buyers are attracted to lower levels. The SEC returned the applications due to a technical issue, allowing asset managers to refile after providing clarifications. Short-term holders have been sending coins to exchanges, indicating jittery sentiment.
Key points:
– Bitcoin is consolidating near the $31,000 resistance level, with an upside resolution expected.
– Ether bounced off the moving averages, indicating buyer interest at lower levels.
– BNB slipped below support but saw aggressive buying, with the 20-day EMA as a key level to watch.
– XRP found strong buying at the $0.44 support level, with resistance at the 20-day EMA.
– Cardano remains range-bound between $0.24 and $0.30, with a close above the 20-day EMA needed for bullish momentum.
– Dogecoin continues to defend the $0.06 support level, with a neutral outlook in the near term.
– Solana broke below support but quickly turned up, with resistance at $18.70.
– Litecoin saw a dip below moving averages but was bought up by bulls, with resistance at $106.
– Polygon is forming a bullish ascending triangle pattern, with support at $0.55 and resistance at $0.69.
– Polkadot held its ground above the 20-day EMA, with resistance at $5.15 and support at $4.22.
Summary:
– Bitcoin and altcoins experienced a temporary dip following the SEC’s rejection of ETF applications, but the shallow fall suggests buyer interest at lower levels.
– Short-term holders have been sending coins to exchanges, indicating jittery sentiment.
– Key levels to watch include the $31,000 resistance for Bitcoin, the $1,937 resistance for Ether, and the $0.44 support for XRP.
– Other cryptocurrencies like BNB, Cardano, Dogecoin, Solana, Litecoin, Polygon, and Polkadot are also showing various levels of support and resistance.
