BTC/USDT daily chart. Source: TradingView Experience the magic of WAGMI Miami on Jan. 21-24 – The Biggest Blockchain Event in America – Get your tickets now!
Bitcoin price hit a new 'inflation-adjusted' all-time high of nearly $80,572 on₵assy Nova chain analysiscryptonews Solana price analysis: SOL breaches key overhead resistance, eyes $260Solana price broke out of a crucial overhead resistance on Friday, indicating that the bulls are attempting to take over.
The price rose sharply after bouncing off the support line of the symmetrical triangle pattern on Sunday. The break above $2,850 opened the doors for a rally to the downtrend line.
Sellers are expected to defend the downtrend line with all their might because a break above it could thrust the price to $4,094.
The critical support to watch on the downside is $2,850. If the price rebounds off $2,850 with strength, it will signal that the sentiment remains positive, and traders are buying on dips. However, a drop below $2,850 will tilt the advantage in favor of the bears.
ETH/USDT 4-hour chart. Source: TradingView
The sharp rally has pushed the RSI into deeply overbought territory on the 4-hour chart, increasing the possibility of a pullback in the near term. The 20-EMA is the first support to watch out for. If the price rebounds off the 20-EMA with strength, the bulls will attempt to drive the ETH/USDT pair to $3,500.
On the other hand, if the price dips below the 20-EMA, it will suggest that the traders are rushing to the exit. That may tug the price down to the breakout level of $2,850.
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