Bitcoin and altcoins sold-off to critical resistance levels, eliminating the recent gains and suggesting that investors are taking a risk-off stance until next week’s FOMC meeting adjourns.
) repeatedly broke above the 20-day EMA from Dec. 2 to 5 but the bulls could not build upon this strength. This shows that demand dries up at higher levels.The bears will try to resume the downtrend by pulling the price below the strong support at $5. If they do that, the DOT/USDT pair could plummet to $4.32.
Another possibility is that the price rebounds off $5. That will indicate strong buying at lower levels. The bulls will then try to drive the price above $5.73. If they can pull it off, it could signal a double bottom pattern. The pair could then rise to $6.18 and later to the pattern target of $6.46, which is near the downtrend line.) broke above the $84 resistance on Dec. 5 but the long wick on the day’s candlestick shows selling at higher levels.
Contrarily, if the price rebounds off the 20-day EMA , it will suggest that the trend remains positive and traders are buying the dips. The bulls will then make one more attempt to clear the overhead hurdle at $85 and push the LTC/USDT pair toward $104.
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