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Market Analysis
The cryptocurrency market is currently experiencing a range-bound action, with many coins oscillating within their respective ranges. Here are some specific analyses for various cryptocurrencies:
Bitcoin (BTC)
- The price is stuck between $35,000 and $40,000.
- Buyers will have to push the price above $40,000 to indicate a comeback.
Ethereum (ETH)
- Not mentioned in this analysis.
Altcoins
- Cardano (ADA)
- Has turned up from the uptrend line, indicating that the lower levels are attracting buyers.
- Relief rally is expected to face selling at the moving averages.
- Buyers will have to kick the price above the 50-day SMA ($1.01) to suggest that the selling pressure is reducing.
- Sui (SUI)
- Finding support at the 20-day EMA ($4.64), indicating that the sentiment remains positive, and traders are buying on dips.
- Buyers are trying to push the price to the overhead resistance at $5.37.
- If this level gets taken out, it will signal the resumption of the uptrend.
- Toncoin (TON)
- Gradually slipping toward the strong support zone between $4.72 and $4.44.
- Buyers are expected to fiercely defend the support zone.
- If the price bounces off the support zone, the TON/USDT pair could reach the 20-day EMA ($5.57).
- Avalanche (AVAX)
- Attempting to bounce off the strong support near $35.
- Relief rally is likely to be sold into.
- If the price turns down from the current level or the 20-day EMA ($39.72), it will suggest that the bears remain in command.
- Dogecoin (DOGE)
- Consolidating between $0.30 and $0.40 for the past few days, indicating buying on dips and selling on rallies.
- The DOGE/USDT pair is trying to move up but is likely to face selling at the 20-day EMA ($0.34).
- Sui (SUI)
- Finding support at the 20-day EMA ($4.64), indicating that the sentiment remains positive, and traders are buying on dips.
- Cardano (ADA)
- Has turned up from the uptrend line, indicating that the lower levels are attracting buyers.
Other Coins
- Dogecoin (DOGE)
- Consolidating between $0.30 and $0.40 for the past few days, indicating buying on dips and selling on rallies.
- Avalanche (AVAX)
- Attempting to bounce off the strong support near $35.
- Sui (SUI)
- Finding support at the 20-day EMA ($4.64), indicating that the sentiment remains positive, and traders are buying on dips.
Range-Bound Coins
- Dogecoin (DOGE)
- Consolidating between $0.30 and $0.40 for the past few days.
- Avalanche (AVAX)
- Range-bound between $35 and $45 for a few days.
- Sui (SUI)
- Range-bound between $4 and $5 for a while longer.
Coins with Support Zones
- Toncoin (TON)
- Gradually slipping toward the strong support zone between $4.72 and $4.44.
- Avalanche (AVAX)
- Finding support at $35.
Note that this analysis is not a recommendation to buy or sell any of these coins, and readers should conduct their own research before making an investment decision.
