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Crypto traders shift focus to these 4 altcoins as Bitcoin price flatlines

  • Bitcoin has been trading in a tight range for the past three days
  • The supply of Bitcoin is shifting to stronger hands
  • Uncertainty regarding Bitcoin’s next move may have kept traders at bay
  • Several altcoins are showing signs of recovery

Bitcoin’s price analysis:

  • The bulls have sustained the price above the 20-day exponential moving average, but failed to start a strong rebound
  • A break below the 20-day EMA could tilt the advantage in favor of the bears
  • A rise above the 50-day simple moving average could signal that buyers are back in control

Chainlink’s price analysis:

  • Chainlink surged above the downtrend line, indicating a potential trend change
  • The moving averages have completed a bullish crossover
  • The bulls are likely to buy the dips to the 20-day EMA

Maker’s price analysis:

  • Maker turned down from the overhead resistance at $1,370
  • If the price rebounds off the 20-day EMA, it will suggest a change in sentiment
  • The support to watch for on the downside is the 20-day EMA

Arbitrum’s price analysis:

  • Arbitrum is in a downtrend, but bulls are trying to hold on to their positions
  • If buyers push the price above the downtrend line, a recovery is likely
  • The support on the downside is $0.80

Theta Network’s price analysis:

  • Theta Network soared above the 20-day EMA, indicating a comeback
  • If the price turns up and climbs above the 50-day SMA, a retest of $0.70 is possible
  • The 20-day EMA is the important support to watch for on the downside

Note: This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research before making a decision.

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