A large part of the recent leg of Bitcoin’s rally started after BlackRock filed to list a spot Bitcoin exchange-traded fund (ETF) on June 15. Several applications by other firms have been rejected by the United States Securities and Exchange Commission in the past. However, BlackRock’s filing has a
Litecoin price analysis
The bulls managed to keep Litecoin (LTC) above the moving averages for the past few days, but they could not start a rebound. This may tempt the bears to seize control.
If the price dips below the moving averages, the LTC/USDT pair could drop to $80 and then to $76. That may keep the pair stuck inside the descending channel pattern for a while longer.
If bulls want to maintain their hold, they will have to quickly propel the price above the resistance line of the channel. The pair may then start an up move, which could reach the overhead resistance at $105. The bears are expected to mount a strong defense at this level.
Polygon price analysis
Polygon (MATIC) traded in a narrow range near the overhead resistance of $0.69 for the past few days, but the bulls failed to push the price above it.
The failure of the bulls to clear the overhead hurdle may tempt the aggressive bears to sell. The gradually downsloping 20-day EMA ($0.67) and the RSI in the negative territory indicate that the bears have a minor advantage. Sellers will try to sink the price to the strong support zone between $0.56 and $0.51.
If bulls want to gain the upper hand, they will have to drive and sustain the price above $0.69. The MATIC/USDT pair may then climb to the 50-day SMA ($0.78).
Polkadot price analysis
Polkadot (DOT) has been trading near the breakdown level of $5.15 for the past five days. Although the bears successfully defended the level, a positive sign is that the bulls have not allowed the price to dip below the 20-day EMA ($4.91).
The gradually rising 20-day EMA and the RSI in the positive territory indicate that the bulls have a slight edge. If buyers drive the price above $5.25, the DOT/USDT pair could rally to the next resistance at $5.56.
Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it will suggest that the bears are active at higher levels. The pair may then remain range-bound between $5.15 and $4.22 for a few days.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.