Cryptocurrencies analysis

Bitcoin remained in its range trend, and with buyers' efforts the previous day, it has broken its dynamic and static resistances again. Bitcoin price is now at the ceiling of the range channel. If a strong bullish candlestick closes above this ceiling and confirms the continuation of the upward movement, we can expect further growth in the price of Bitcoin . Bitcoin's higher targets are in the $23,965 and $25,282 range. We still see $21,041 as BTC's most important mid-term support level .

The previous day, Ethereum had dropped to the $1,585 support area and reacted positively as soon as it hit this support. Note that the price of Ethereum is in a descending channel in the lower time frame, and the channel's ceiling at $1643 represents a minor resistance. Of course, Ethereum has a lot of resistance in the channel ranges of $1,600 to $1,700, and to completely cross these levels, high strength is required from the buyers. Otherwise, the range trend can continue, or even correction can occur. If Ethereum fails to cross from the $1,643 resistance, it could start another downside correction. Initial support on the downside is $1,621. The next major support is nearly $1,585. Any more losses might call for a test of the $1,501 zone.

MANA recorded good price growth during the last weeks. In the previous analysis, this price increase was predicted according to the candles' reversal signs and the RSIindicator. But because the market entered an upward phase, the ceiling of the main descending channel of MANA was also broken, and the price is above the level of $0.58 -$0.66. We can say that the daily time trend of MANA is up. Therefore, pullbacks can create a strong positive reaction to support levels. The price of MANA has entered an ascending channel in the 4-hour time frame. As long as the bottom of the channel is maintained and the static support area of $0.55, we can expect further price growth. So, at this level of support, we can again expect a positive reaction and an increase in demand. Also, if the short-term ascending channel is maintained, MANA can grow to $1.12.

XMR continued its upward trend over the past weeks, and according to the previous analysis, its price growth increased just after breaking any resistance, turning that level into support. Monero still has bullish momentum, and if it breaks the current resistance in the $172 - $178 range, it could rise to the top of the main descending channel . Note that the channel ceiling resistance overlaps at $200 and is a psychological level. Therefore, the possibility that the price will be corrected from this range is high. If this resistance is broken in the future, we can expect the end of the corrective wave in the weekly time frame and the beginning of the price movement to reach the previous ceilings. Also, if this resistance is broken, the daily trend can be upward. Therefore, pullbacks that return to support areas in the future can be considered demand areas.

HBAR continued its upward trend last week, and a sharp break into the $0.070 - $0.073 resistance range has been seen. The daily candle has not yet closed above this level, and the breaks that have been recorded are fake. In the 4-hour timeframe, the price of HBAR is inside a narrow ascending channel , the ceiling of this channel was fake broken in the past days, and due to encountering a strong resistance, this reaction has caused the price to return to the channel. So, according to this reaction, there is a possibility that the price trend will be below this range for some time. But further, because the potential for a trend change has been created in the daily timeframe , and the bullish wave can resume by correcting to the support range of $0.0605 - $0.0550, we expect the current resistance to be broken for the next week.

Don't forget to check out monocoin.net for more crypto analysis and crypto signals.You can also join our channel to receive telegram crypto signals for crypto and forex.Join the MonoCoin Signal VIP to receive the best cryptocurrency signals and analysis.MonoCoin Signal also provides crypto tutorial content for crypto trading for VIP users, so they can gain more profits.