BTC, ETH, BNB, LUNA, SOL, AVAX and DOT Price Analysis for Feb 10
The cryptocurrency market is neither bullish nor bearish as some coins continue to trade in the green zone while others have already turned red.
Selling pressure was not strong yesterday morning. Bears failed to break through the $43,360 level. Bitcoin (BTC) price pushed through, but buyers slowly regained the $44,600 area in the afternoon.
At the end of the day, the bulls were close to the $45,000 retest, but buy volumes were below average and their efforts were inadequate. Over the past night, the price of BTC has fallen slightly. This morning, the pair is hovering around $43,800. In the first half of the day, a pullback from yesterday’s support of $43,360 is still possible. If it doesn’t stop the rollback, the decline could reach a more powerful support level at $42,450.
It is possible that the bulls are attempting another attack on the $46,000 resistance.
Bitcoin is trading at $45,145 at the time of writing.
Yesterday morning trading volumes were below average and the overnight rollback in ETH price did not continue towards EMA55.
Buyers managed to push the pair back into the $3,200 resistance area, breaking into the zone from a new February high on strong bullish momentum.
Until the end of the day, it reached a new high of USD 3,275. Overnight, the pair fell back below the $3,200 level. Overbought conditions are still making it difficult for buyers to regain yesterday’s high zone. If they fail to deal with the $3,200 resistance today, the price may pull back towards the $3,000 psychological support.
Ethereum is trading at $3,236 at the time of printing.
The price of Binance Coin (BNB) has been virtually unchanged since yesterday.
The price of Binance Coin (BNB) is trading above the support level at $405 meaning buyers remain more powerful than sellers. If they can reach USD 440, there is a chance of continued growth towards the next USD 489 resistance level.
BNB is trading at $426.2 at the time of writing.
The price of LUNA has returned to the red zone and is down 0.14% in the past 24 hours.
Despite the decline, LUNA is approaching the USD 61.01 resistance level amid declining sales volume. If the daily candle fixes around $60, there is a chance of a price breakout towards the end of the week.
LUNA is trading at $57.07 at the time of writing.
Solana (SOL) underperforms LUNA, down about 1.02%.
Solana (SOL) is in the middle of the channel meaning sideways trading is the most likely scenario for the coming days. However, if the price moves back to the zone of most liquidity around $90, the decline could continue towards the $87.73 support level.
SOL is trading at $112.71 at the time of writing.
AVAX is in the green zone and is up 2.48% since yesterday.
Avalanche (AVAX) is above the highest liquidity zone at $88.63. If bulls can hold this level, continued gains could push it towards the green resistance level at $101.31. Such a scenario is relevant until the end of the week.
AVAX is trading at $92.11 at the time of writing.
Polkadot (DOT) has entered the red zone and is down 0.10% in the last 24 hours.
Polkadot (DOT) is approaching the resistance level at $22.66. Commerce volume is increasing, which means there is a good chance that a price breakout is coming soon. If that happens, the rise could push the price of DOT towards $25.
DOT is trading at $21.72 at the time of printing.