As of now, multiple digital coins trades at vital price levels. Investors’ response to such zones will determine the market’s direction at the ending of this week. Let us see what different cryptocurrencies have in terms of buy entry levels:
Cardano
For now, ADA trades at a risky level. Although with a bullish Monday, Cardano still had less volume than Sunday. Indeed, you will have to agree that a weekday with less volume compared to a weekend day is not a good indication. You can predict higher rejection as prices are against the 1.7179 Kijun-Sen and the 1.63 Tenkan-Sen. If the daily chart continues to indicate lower closes on the Kijun-Sen and Tenkan-Sen, you can expect south moves with a possibility to retesting between 0.84 and 0.94 support areas. Nevertheless, any strong fluctuations near the 1.72 value zone and over the Kijun-Sen might be bullish.
Polkadot
DOT has had massive declines over the last week. The virtual coin lost around 73.33% at some point after hitting its highest value. At the moment, Polkadot remains 54.92% low from its record highs. As much as the coin indicates the potential to rally to the $30 price, which might be good news to long-term DOT holders, the virtual coin will likely face tight resistance ahead. Kijun-Sen and Tenkan-Sen maintain between the $29 – $32 price levels. Besides that, the network’s Cloud has a continuing even Senkou Span B. Keep in mind that the Senkou Span B is the most challenging zone to cross since it represents the strongest support and resistance levels. Long-lasting flat Span B amplifies resistance/support strength. Keep in mind that the current Senkou will maintain at $37.50 until 7 July of this year.
Bitcoin
At the moment, BTC has a fairly high volume, which indicates multiple activities ranging from $32k to $38k. The high-volume node may fail to appear up to the $23.2k area if the price breaks below $32k. Keep in mind that there will be a 261.8% Fibonacci retracement at $25,603.79 just over the $23.2k high volume node. Under that level, there is the 361.8% Fibonacci retracement at 18,547.20, which again is a high volume knob.
