This article provides detailed technical analysis on cryptocurrencies, including Bitcoin (BTC), Binance Coin (BNB), Aave (AAVE), Monero (XMR), and Virtuals Protocol (VIRTUAL). Below is the main summary:
1. Bitcoin (BTC)
• Short-term trend: BTC is under selling pressure, with the potential to drop to $90,000. However, bulls may provide strong support at this level.
• Important resistance: $100,000. If surpassed, BTC could test the $108,353 level and even rise to $124,206.
• Major support: $90,000. Breaking this level could bring the price down to $85,000 or lower.
2. Binance Coin (BNB)
• Short-term trend: Fluctuating between $635 - $722. Bulls are trying to break above $722 to pave the way for a price increase.
• Important resistance: $722. If surpassed, BNB could rise to $760 and $794.
• Major support: $680. Breaking below this level could pull the price down to $635.
3. Aave (AAVE)
• Current trend: Trading near the 20-day EMA ($329). The symmetrical triangle pattern may determine the next trend.
• Important resistance: $362 and $400. If surpassed, the price could rise to $450.
• Major support: $261. Breaking below this level will open up a deeper decline.
4. Monero (XMR)
• Current trend: Facing strong resistance at $203. The bullish triangle pattern may determine the trend.
• Important resistance: $203. If surpassed, the price could rise to $216 and $234.
• Major support: $180. Breaking below this level will diminish the bulls' advantage.
5. Virtuals Protocol (VIRTUAL)
• Current trend: Maintaining upward momentum, with the nearest target being $4 and $4.79.
• Important resistance: $4. Bulls need to maintain momentum to continue the upward trend.
• Major support: $3.33. Breaking below this level could push the price down to $2.71 or lower.
Conclusion:
Although Bitcoin and major coins like Ether have not shown strong moves to break out, altcoins like AAVE, XMR, and VIRTUAL are showing potential in the short term. However, investors need to be cautious with key resistance and support levels to manage risk.
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