This is a long-form article about the crypto market outlook for various coins, including Bitcoin (BTC), Ethereum (ETH), and several altcoins such as Dogecoin (DOGE), Cardano (ADA), Avalanche (AVAX), Chainlink (LINK), Shiba Inu (SHIB), and more.
Here are some key points from the article:
- Market Overview: The crypto market is in a bullish trend, with most coins showing an upward momentum.
- Bitcoin (BTC): BTC has been trading sideways, but analysts expect it to break out soon. The support level is at $23,000, and the resistance level is at $28,000.
- Ethereum (ETH): ETH has also been trading sideways, but a breakout is expected soon. The support level is at $1,800, and the resistance level is at $2,200.
- Dogecoin (DOGE): DOGE has been correcting in an uptrend, with short-term buyers booking profits. If the price sustains below $0.40, it could slump to $0.35, but a break above $0.43 would signal buying at lower levels.
- Cardano (ADA): ADA has slipped below the 20-day EMA ($1.05), indicating that bulls are rushing to the exit. The pair is likely to range-bound in the near term, with sellers pushing the price to $0.90 and bulls trying to push above $1.20.
- Avalanche (AVAX): AVAX has broken below the 20-day EMA ($47.71), indicating a lack of demand from bulls. If the price sustains below the 20-day EMA, it could drop to the 50-day SMA ($39.52).
- Chainlink (LINK): LINK is correcting in an uptrend, with short-term buyers booking profits. A break below $27.41 could sink the pair to $24.85, but a break above $31 would signal solid buying on dips.
- Shiba Inu (SHIB): SHIB failed to push back above the 20-day EMA ($0.000027) on Dec 16, attracting selling by bears. If the 50-day SMA ($0.000025) cracks, it could descend to $0.000022 and later to $0.000020.
Overall, the article provides a detailed analysis of various coins in the crypto market, highlighting their strengths and weaknesses. It’s essential to note that every investment and trading move involves risk, and readers should conduct their own research before making a decision.
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