- Bitcoin’s price could potentially drop to $22,000, as it has been trading within a narrow range since March.
- DOT Coin is struggling to maintain its support at $4.22.
- If MATIC Coin’s decline continues, the next support level could be at $0.45.
Bitcoin’s price continues to hover around the $26,000 mark, indicating a lack of increased demand in a bearish market. Meanwhile, DOT Coin is battling to hold onto its $4.22 support, and MATIC Coin could see its next support level at $0.45 if the current downtrend persists.
Bitcoin’s Price Predictions Amid Market Uncertainty
Bitcoin’s price has been largely stagnant since August 18, with the $25,136 support level largely holding. However, for a reversal to commence, we need to see convincing 4-hour closures above the $26,726 line. If the price continues to decline and breaks the base line, sales could accelerate to $22,000 after $24,800.
On the weekly chart, the medium-term range we previously drew is being maintained. The price is now at the base line and continues to trade within the current range since the week of March 20. From here, an upward breakout, i.e., closures above $32,000, could now end the bearish trend at the bull peak.
Polkadot (DOT) Analysis
Polkadot has been trading in a narrow range between $4.22 and $4.56 for the past few days. This shows that the bulls have successfully defended the $4.22 support but have not been able to rise above the $4.56 resistance. A small positive point in favor of the bulls is that they have not given up much from the overall resistance, which increases the possibility of a break above the resistance.
The DOT/USDT pair could first rise to the 20-day EMA ($4.68) and eventually reach the $5 breakout level.
Polygon (MATIC) Analysis
Polygon is gradually being dragged towards the vital support of $0.51, indicating that the bears are continuing the pressure. If this region is lost, sales could accelerate. In this case, a drop to $0.45 is possible. The critical resistance to watch on the upside is $0.60. If buyers overcome this obstacle, the recovery could reach the 50-day SMA ($0.68).
Conclusion
With the current market conditions, Bitcoin, DOT Coin, and MATIC Coin are all facing their respective challenges. While Bitcoin’s price could potentially drop to $22,000, DOT Coin is struggling to maintain its support at $4.22. If MATIC Coin’s decline continues, the next support level could be at $0.45. As always, investors should conduct their own research and be aware of the high volatility and risks associated with cryptocurrencies.
