Price: $0.38384 1.7667%
Market Cap: 56.38B 1.7357%
Volume (24h): 8.05B 0.4%
Dominance: 1.7357%
Price: $0.38384 1.7667%
Market Cap: 56.38B 1.7357%
Volume (24h): 8.05B 0.4%
Dominance: 1.7357% 1.7357%
  • Price: $0.38384 1.7667%
  • Market Cap: 56.38B 1.7357%
  • Volume (24h): 8.05B 0.4%
  • Dominance: 1.7357% 1.7357%
  • Price: $0.38384 1.7667%
Home > Information news > Crypto Market Update: Recovery, Predictions, and Challenges

Crypto Market Update: Recovery, Predictions, and Challenges

Release: 2024/01/27 09:31 Reading: 596

Original author:BH NEWS

Original source:https://coinmarketcap.com/community/articles/65b458f5a903e820c3f1184c

Crypto Market Update: Recovery, Predictions, and Challenges

You can also read this news on BH NEWS: Crypto Market Update: Recovery, Predictions, and Challenges

Cryptocurrencies have had an eventful start to the new year, with Bitcoin (BTC) recovering to $42,000 after a sharp decline following ETF approval-triggered sales. Altcoins are also turning their trajectory upwards, with AVAX bulls pushing its price above $31, a crucial level before a potential drop. However, the 20-day EMA at $33.81 could pose resistance unless BTC’s daily close offers support.

If AVAX fails to maintain momentum, it could fall to $27.24 or even $24, erasing gains from the previous year’s impressive rally and jeopardizing the $100 target. Conversely, if $33.81 becomes support, the next significant goal is $38.

Dogecoin (DOGE) has been relatively stable even with BTC’s rallies, holding support at $0.07. A bounce is anticipated for an upward move, but DOGE has yet to make such an attempt. Losing this support could lead to a drop to the next support at $0.06.

The DOGE community needs to attract attention away from alternative meme coins, or it may not replicate its 2021 bull run performance, potentially saying goodbye at a lower peak of $0.3 without Elon Musk’s influence.

Chainlink (LINK) has been fluctuating between $12.85 and $17.32, pleasing short-term traders but leaving those waiting for a decisive break for mid-term trades restless. A clear direction is hard to determine, but a breakout from these price regions could lead to targets of $17.32 and $20, or a drop to $10.5 in the opposite scenario.

The post first appeared on BH NEWS: Crypto Market Update: Recovery, Predictions, and Challenges

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