Bitcoin has been trading in a predictable range for the past few months, leading to a drop in spot volumes.
Long consolidations are often followed by explosive price action, but it is difficult to predict the direction of the breakout.
Investing legend Paul Tudor Jones believes that an escalation in the Israel-Hamas conflict could bring about a risk-off sentiment, which would be bullish for gold and Bitcoin.
Bitcoin’s price is currently struggling to rebound, with the 50-day simple moving average acting as a key support level.
Ether has dipped to a critical support level, but there are signs of a positive divergence in the RSI.
BNB has found strong support at $203, but a break below this level could lead to a downward move.
XRP’s price is expected to continue oscillating between $0.41 and $0.56 for the time being.
Solana has slipped below the 20-day exponential moving average, indicating bearish pressure.
Cardano has formed long tails on candlesticks, suggesting a lack of demand at higher levels.
Dogecoin has been trading below the $0.06 support, indicating acceptance of lower levels.
Toncoin has entered a corrective phase, with profit booking pulling the price below the 50-day simple moving average.
Polkadot has reached a solid support level at $3.50, but a break below this level could lead to further downside.
Polygon continues to weaken towards the critical support at $0.49, indicating a lack of buying interest at higher levels.
