Shiba

Safe

Bitcoin

Coin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-price-holds-above-56500" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Holds Above $56,500</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/el-salvador-holds-5750-btc" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price is currently trying to maintain its position above $56,500. The cryptocurrency <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">market</a> remains weak, particularly among altcoins, which depend heavily on Bitcoin’s stability to attract capital inflows. Investors are keenly observing the market’s next moves, especially for ADA, AVAX, and Shiba Coin, to understand what levels might be expected <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">in the near future</a>.</p>
<h2 id="what-are-the-ada-coin-predictions">What Are the ADA Coin Predictions?</h2>
<p style="text-align: justify">Weekends often see reduced trading volumes, making cryptocurrencies more susceptible to sudden drops. However, this weekend has shown stable movement for ADA Coin. Despite the potential for sharp movements, ADA Coin has managed to avoid such scenarios. Currently, ADA Coin is trading below the EMA20 level of $0.35, indicating that short-term profit-taking is prevalent. If the $0.31 support level remains intact, it’s possible to reclaim $0.35 as a key short-term support level.</p>
<p style="text-align: justify">Failure to maintain this support could lead to a steep decline to $0.24, demonstrating the pressure on altcoins even during bullish trends in bear markets.</p>
<h2 id="is-avax-coin-a-safe-bet">Is AVAX Coin A Safe Bet?</h2>
<p style="text-align: justify">AVAX Coin is experiencing downward pressure within a descending channel formation. The current support level is $19.5, with EMA20 suggesting a safer zone at $22.46. Closing above $22.46 could trigger a rise to $29 and beyond. Conversely, falling below $19.5 could lead to new lows beneath the channel’s support line.</p>
<p style="text-align: justify">Shiba Coin has had a challenging week, adding to the difficulties faced over recent months. The critical level for Shiba Coin is $0.000012. If the coin can maintain this level, it may rise to $0.00002. However, if it falls below, it may drop to $0.000010 or lower.</p>
<h2 id="concrete-insights-for-investors">Concrete Insights for Investors</h2>
<p style="text-align: justify">– ADA Coin’s key short-term support is at $0.35, with a critical support level at $0.31.<br> – AVAX Coin must stay above $19.5 to avoid further declines, with potential rises if it surpasses $22.46.<br> – Shiba Coin’s critical threshold is $0.000012; maintaining this could lead to a rise to $0.00002.</p>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">The cryptocurrency market is currently in a state of flux, with Bitcoin trying to hold its ground above $56,500. The near-term prospects for ADA, AVAX, and Shiba Coin are mixed and heavily dependent on maintaining key support levels. Investors should closely monitor these levels to make informed decisions.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-price-holds-above-56500" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Price Holds Above $56,500</a></h5>

Bitcoin Price Holds Above $56,500

Table of Contents

BH NEWS

Other articles published on Aug 17, 2024

Norway increased its Bitcoin exposure in H1 2024

Coinbase and KuCoin Apply for Crypto Licenses in Turkey

Crypto Whales Increased Buying Activity As Newly Created Wallet Withdrew 533.5 BTC From Binance –...

Fed Faces Challenges with Employment Data and Interest Rates

Will Avalanche Be the First RWA Coin to Cross $10B Market Cap?

Stocks worldwide hit new highs with best week in nearly a year

Join our free newsletter for daily crypto updates!