carrie11cady

@carrie11cady

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That said, Bitcoin rallied when the local US banking system showed signs of fragility in early 2023, as seen by the shock collapses of Silicon Valley Bank and Signature Bank, to name a few.

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Bitcoin tanked around 8% in an hour when Iran bombed Israel in a retaliatory attack on April 13 and also plummeted nearly 11% across Feb. 23 to 24, 2022, when Russia invaded Ukraine, CoinGecko data shows.

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Still, Bitcoin may be in for a bumpier ride should there be more international disputes.

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Data from Bitcoin analytics platform Newhedge shows Bitcoin has a volatile correlation to the Standard and Poor’s 500 (S&P 500), though some industry executives have pointed out that Bitcoin’s price movements are more closely tied to tech stocks.

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The RSI is showing a negative divergence on the 4-hour chart, indicating that the up move is losing steam. A break and close below the 20-EMA will suggest that the bears are trying to make a comeback. The 50-SMA is an important support for the bulls to defend because if they fail in their endeavor, the pair may plummet to $23.

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This positive view will be invalidated in the near term if the price breaks below $27.41. That could sink the pair to the 20-day EMA ($23.87), which is an essential support for the bulls to defend.

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The $27.41 level is the crucial support to watch out for on the downside. If the price turns up from the current level or bounces off $27.41 with strength, it will increase the possibility of a break above $31. The LINK/USDT pair could then start the next leg of the uptrend to $34.50 and later to $38.30.

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Buyers will have to drive the price above $4,000 to increase the likelihood of a break above $4,094. The pair could then rally to $4,500. Alternatively, a drop below $3,500 will tilt the advantage in favor of the bears.

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The moving averages on the 4-hour chart have flattened out, and the RSI is just above the midpoint, suggesting a possible range-bound action in the near term. The pair may consolidate between $4,094 and $3,500 for some time.

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Contrarily, if the price turns up from the current level or the 20-day EMA, it will signal a positive sentiment. That improves the prospects of a break above $4,094. If that happens, the pair could surge to $4,500.

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The upsloping moving averages indicate advantage to buyers, but the negative divergence on the RSI suggests that the uptrend is slowing down. If the 20-day EMA ($3,723) cracks, the ETH/USDT pair could drop to the downtrend line. Such a move is likely to delay the start of the next leg of the uptrend.

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Ether is facing significant resistance in the $4,000 to $4,094 zone, but a positive sign is that the bulls have not given up much ground to the bears.

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If the price turns down from the current level or the resistance line and breaks below the moving averages, it will suggest that bears are selling on rallies. The pair may slump to the support line, which is an important level to watch out for. If the bears sink the price below the support line, the pair may drop to $86,700.

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The pair could reach the resistance line near $107,000, which is expected to act as a solid resistance. If buyers overcome the resistance, the pair is likely to pick up momentum and surge to $113,331.

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In a question submitted to the country’s House of Councillors on Dec. 11, Yamada asked the Japanese government to consider “the status of understanding the movement to introduce Bitcoin reserves in the United States and other countries.”

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A lawmaker in Japan’s legislature named Satoshi Yamada has introduced questions for the government on the status of national Bitcoin reserves globally.

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Solana retested this support zone on Nov. 11 and Nov. 16, before rallying to new all-time highs above $264 on Nov. 22.

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To end an extended two-week correction, SOL found support from a major demand zone sitting on its downside. This is the area defined by the $200 level and the 50-day exponential moving average (EMA) sitting at $213.

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Solana’s latest drop in TVL and real economic value signifies its decreasing attractiveness to developers over its rival, which reduces the demand for the native SOL token.

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