- If you check out the BTC in the new year, you will see that it has reached a little low than the $50,000 for the first few days.
- How will the altcoins perform? Here are five different cryptocurrencies that you need to check out in the upcoming year.
- Bitcoin has continued its exponential move with an average of $48720 with ample support in the first few years.
If you check out the BTC in the new year, you will see that it has reached a little low than the $50,000 for the first few days. This marks the reduction of aggressive buyers in the market, which is not good news. According to Bobby Lee, the BTCC CEO, the Chinese raiders who had the time till December 31 decided to keep crypto prices low due to existing Chinese exchanges. But the good news is, two more countries are yet to accept Bitcoin as a legal digital coin in 2022. So will Bitcoin pull itself up to the mark? How will the altcoins perform? Here are five different cryptocurrencies that you need to check out in the upcoming year.
BTC/USDT
Bitcoin has continued its exponential move with an average of $48720 with ample support in the first few years. Therefore the buying graph will go down after reaching the higher levels. The bears will aim to push the crypto price below $45,456 if the crypto price drops below the 20-day EMA. In contrast to this notion, the BTC/USDT pair might advance to the 50-day simple moving average ($52,332) if the price breaks above the 20-day EMA. A break and closure above this level might signify the start of a new uptrend, with the 61.8 percent Fibonacci retracement level of $58,686 as a target.
LUNA/USDT
The Terra LUNA token attempts to restart its upward trend, but the bears have drawn a line near $93.81. The positive RSI and upsloping moving averages signal buyers have a tiny advantage. If the price price recoils back off the 20-day EMA ($82), bulls are still buying on dips.
After that, the LUNA/USDT pair will try to break through $93.81 and challenge the all-time high of $103.60. If this barrier is broken and closed above, the following leg of the uptrend to $135.26 might begin. In contrast, if the price falls below the 20-day EMA, it indicates a change in the short-term trend. The crypto price of the pair may then drop to $65.15.
Between the 50 percent Fibonacci retracement level at $92.35 and the 61.8 percent retracement level at $95.01, the bounce from $81.11 is facing selling. The bears will now effort to lower the stock below the 20-EMA and the uptrend line.
If they do, the pair may fall to $84 and ultimately to $81.11. On the other hand, a break and closing below this support level could indicate that the bears have re-entered the fray.
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Fantom
The FTM/USDT pair might drop to the 20-day exponential moving average, acting as solid support. The 20-day EMA ($2.03) is increasing, and the RSI is above 68, indicating that the path of least resistance is up. Bulls will be back in the game if they break and close over $2.67. After that, the duo may begin their ascent northward toward $3.17 and then $3.48.
Cosmos
On January 1, Cosmos (ATOM) broke through and closed above the overhead barrier at $34. The moving averages have completed a bullish crossover, implying that bulls are in control.
If the price stays above $34, the bullish trend will continue, and the ATOM/USDT pair will increase to $38, then $43.28. The moving averages have completed a bullish crossover, and the RSI is in the positive zone, indicating that bulls have the upper hand.
If the crypto price breaks and closes below $34, the bears aim to trap the aggressive bulls, contrary to popular belief. The pair could then drop to the 20-day exponential moving average ($28).
ONE/USDT
Harmony (ONE) has reached the downtrend line, where the bears will most likely put up a fight. The altcoin could drop to the 20-day EMA ($0.24) if the crypto price drops from its present level.
If the price bounces off the 20-day EMA, traders are buying on dips, and the sentiment is still optimistic. Bulls will next try to push the price above the downtrend line once more.
If they succeed, it will signal the beginning of a new upward trend. The initial upside objective is $0.34, and a break over that level might lead to a retest at $0.38. If the crypto price falls below $0.21, this bullish perspective will be invalidated.
