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Market Outlook
The cryptocurrency market is experiencing a mix of trends, with some coins showing signs of recovery while others are still struggling.
Top Performers
- Cardano (ADA) has turned up from the uptrend line, indicating that the lower levels are attracting buyers.
- Avalanche (AVAX) is attempting to bounce off the strong support near $35, but the relief rally is likely to be sold into.
- Sui (SUI) is 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) has been consolidating between $0.30 and $0.40 for the past few days, indicating buying on dips and selling on rallies.
- Toncoin (TON) is gradually slipping toward the strong support zone between $4.72 and $4.44, where buyers are expected to fiercely defend.
Bulls and Bears
- Bitcoin (BTC) price is stuck due to several factors, including lack of adoption, regulatory uncertainty, and market volatility.
- Ethereum (ETH) has been struggling to break above the 50-day SMA ($1,800), indicating that the bulls need to regain momentum to push prices higher.
Technical Analysis
- Cardano (ADA) will face selling at the moving averages if it turns down from there.
- Avalanche (AVAX) may break below $33.60 if it fails to hold above the 20-day EMA ($39.72).
- Sui (SUI) may reach $5.82 if buyers can push prices above the overhead resistance of $5.37.
Market Sentiment
- The market sentiment remains mixed, with some coins showing signs of recovery while others are still struggling.
- Investors should conduct their own research and risk analysis before making a decision to invest in any cryptocurrency.
Disclaimer
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.
