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Polkadot

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 <p class=""><strong>The upward trajectory of the Bitcoin (BTC) market persists, driven by solid demand from spot Bitcoin ETFs. This surge raises the question: which alternative cryptocurrencies might emulate BTC’s bullish performance?</strong></p>
 <p class="">On February 14th, Bitcoin achieved a market capitalisation milestone of $1 trillion, propelled by the robust demand for recently introduced spot Bitcoin exchange-traded funds. Data indicates that these ETFs attracted over $600 million in inflows on February 13th alone.</p>
 <p class="">Remarkably, Bitcoin ETFs acquired ten times more Bitcoin than miners produced on February 12th. Anthony Pompliano, the founder of Pomp Investments, highlighted in a CNBC interview that approximately $200 billion worth of Bitcoin is available for trading, with 80% of the total supply remaining dormant. Pompliano further noted that within 30 days of their launch, Bitcoin ETFs have absorbed 5% of Bitcoin’s tradable supply.</p>
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   <figcaption class="wp-element-caption"><em><strong><sub>Daily cryptocurrency market performance. Source:&nbsp;</sub></strong></em><strong><sub><em>Coin360</em></sub></strong>
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 <p class="">The sharp rally in Bitcoin sent the&nbsp;Crypto Fear and Greed Index score to 79&nbsp;on Feb. 13, showing “extreme greed.” The last time the index entered the “extreme greed” zone was in mid-November 2021 when Bitcoin reached an all-time high of $69,000. During solid bull phases, the sentiment may remain in the extreme greed zone for an extended period, but the higher the price, the greater the risk of a correction.</p>
 <p class="">Therefore, traders should keep a close watch on the technicals of Bitcoin to spot a possible reversal in the near term. Could Bitcoin extend its rally above $52,000, or will traders book profits, starting a short-term correction? Let’s analyse the charts of the top 10 cryptocurrencies to find out.</p>
 <h2 class="wp-block-heading" id="bitcoin-btc-market-analysis">Bitcoin (BTC) Market Analysis</h2>
 <p class="">Bitcoin started the next leg of the uptrend after breaking out of the $48,970 resistance on Feb. 12. The bears tried to tug the price back below the breakout level and trap the aggressive bulls, but the long tail on the Feb. 13 candlestick showed strong buying at lower levels.</p>
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   <figcaption class="wp-element-caption"><em><strong><sub>BTC/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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 <p class="">Although the upsloping 20-day exponential moving average ($45,826) indicates an advantage to buyers, the overbought levels on the relative strength index (RSI) suggest the BTC/USDT pair may have run up too fast. That could start a short-term correction or consolidation in the next few days.</p>
 <p class="">The $52,000 level will likely be a significant hurdle for the bulls. If the price turns down from the overhead resistance and breaks below $48,970, it will suggest forming a short-term top. The pair may then skid to the 20-day EMA. A break below this support will indicate that the bulls are losing their grip.</p>
 <p class="">Contrarily, if buyers catapult the market above $52,000, the pair could climb to $60,000.</p>
 <h2 class="wp-block-heading" id="ether-eth-market-analysis">Ether (ETH) Market Analysis</h2>
 <p class="">Ether&nbsp;picked up momentum after breaking above the $2,400 resistance, indicating solid buying by the bulls.</p>
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   <figcaption class="wp-element-caption"><em><strong><sub>ETH/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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 <p class="">The bulls shoved the price above the $2,717 resistance on Feb. 14, signalling the resumption of the uptrend. If buyers sustain the breakout, the ETH/USDT pair could skyrocket to the psychologically important level of $3,000. This level may witness profit booking by short-term traders.</p>
 <p class="">Time is running out for the bears. They must yank and sustain the price below $2,600 to weaken the bulls. The pair may then fall to the 20-day EMA ($2,462).</p>
 <h2 class="wp-block-heading" id="solana-sol-market-analysis">Solana (SOL) Market Analysis</h2>
 <p class="">The bulls successfully defended the retest of the breakout level of $107 in Solana,&nbsp;<a target="_blank" rel="noreferrer noopener">indicating that the sentiment has turned positive.</a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/02/15/6a6de007b05d6873bcb0404b1d0088a1.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>SOL/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">There is a minor resistance at $117, but that is likely to be crossed. If that happens, the SOL/USDT pair could rise to the stiff overhead resistance at $127. This level may act as a formidable hurdle, but if the bulls prevail, the rally could reach the pattern target of $135.</p> <p class="">The first sign of weakness will be a break and close below the moving averages. That will signal selling at higher levels and may trap the aggressive bulls. The pair could then descend toward the solid support at $80.</p> <h2 class="wp-block-heading" id="bnb-price-analysis">BNB Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">The bulls purchased the dip to the 20-day EMA ($314) on Feb. 12, indicating that lower levels are attracting buyers in BNB.</a><a target="_blank" rel="noreferrer noopener"></a></p><a target="_blank" rel="noreferrer noopener">
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    <figcaption class="wp-element-caption"><em><strong><sub>BNB/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The upsloping moving averages and the RSI near the overbought zone indicate that the path of least resistance is to the upside. The BNB/USDT pair could reach the overhead resistance at $338. If this level is conquered, the pair could accelerate toward $360 and subsequently to $400.</p> <p class="">On the contrary, if the price turns down sharply from $338, it will indicate that bears are active at higher levels. A break below the moving averages could start a deeper pullback to the essential support at $288.</p> <h2 class="wp-block-heading" id="xrp-price-analysis">XRP Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">XRP&nbsp;</a><a target="_blank" rel="noreferrer noopener">continues to witness a tough battle between the bulls and the bears near the 20-day EMA ($0.52), indicating uncertainty about the next directional move.</a></p><a target="_blank" rel="noreferrer noopener">
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    <figcaption class="wp-element-caption"><em><strong><sub>XRP/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The flattish 20-day EMA and the RSI near the midpoint do not give a clear advantage either to the buyers or sellers. If the price turns down from the current level and breaks below $0.50, the advantage will tilt in favour of the sellers. The XRP/USDT pair could receive vital support at $0.46.</p> <p class="">On the upside, the bulls must drive and maintain the price above the stiff overhead resistance at the downtrend line to gain the upper hand. The pair could then march toward $0.67.</p> <h2 class="wp-block-heading" id="cardano-ada-price-analysis">Cardano (ADA) Price Analysis</h2> <p class="">Buyers pushed Cardano&nbsp;above the descending channel pattern on Feb. 12 but have struggled to move upward.</p>
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    <figcaption class="wp-element-caption"><em><strong><sub>ADA/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The upsloping 20-day EMA ($0.52) and the RSI in the positive territory give a slight edge to the bulls. If the price maintains above $0.57, the ADA/USDT pair will likely jump to $0.60 and then to $0.68.</p> <p class="">Instead, if the price turns down and slips below the moving averages, it may trap several aggressive buyers. That could cause long liquidation, resulting in a drop to the strong support at $0.46.</p> <h2 class="wp-block-heading" id="avalanche-avax-price-analysis">Avalanche (AVAX) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Avalanche&nbsp;</a><a target="_blank" rel="noreferrer noopener">has been facing selling at $42, but a positive sign is that the bulls have not ceded much ground to the bears.</a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/02/15/5aaadd30d140e65e0189f9866516bdb6.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>AVAX/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">This indicates that the bulls anticipate another leg higher. The rising 20-day EMA ($37.12) and the RSI in the positive territory indicate the possibility of a break above $42. If that happens, the AVAX/USDT pair could surge to $50.</p> <p class="">The first support on the downside is at the 20-day EMA. A break below this level will suggest that the buying pressure could be reduced. The pair could then slide to the crucial support at $32.</p> <h2 class="wp-block-heading" id="dogecoin-doge-price-analysis">Dogecoin (DOGE) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Dogecoin&nbsp;</a><a target="_blank" rel="noreferrer noopener">has been trading near the moving averages for the past few days, indicating a balance between buyers and sellers.</a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/02/15/a94bc5afd61a17b758d8f6b171d6dd03.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>DOGE/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The flattish 20-day EMA ($0.08) and the RSI just above the midpoint do not give the bulls or the bears a clear advantage. Buyers will gain the upper hand if they overcome the obstacle at the downtrend line. That may open the doors for a rally to the $0.10 to $0.11 resistance zone.</p> <p class="">The advantage will tilt in favour of the bears if they sink and sustain the price below the uptrend line. The DOGE/USDT pair could plunge to $0.07 and later to the critical support at $0.06.</p> <h2 class="wp-block-heading" id="chainlink-link-price-analysis">Chainlink (LINK) Price Analysis</h2> </a>
 <p class=""><a target="_blank" rel="noreferrer noopener">Chainlink&nbsp;</a><a target="_blank" rel="noreferrer noopener">has pulled back in an uptrend, indicating profit booking by short-term traders near $20.85.</a></p><a target="_blank" rel="noreferrer noopener">
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/02/15/80d431f9b4104081f2dbe212ce1f4dce.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>LINK/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">During strong uptrends, the pullbacks usually do not last more than three days because the bulls jump in to buy on every minor dip. If the price rises and breaks above $20.85, the LINK/USDT pair could soar to the pattern target of $21.79.</p> <p class="">The bears are likely to have other plans. They will try to pull the price below the 20-day EMA ($18.09), which will be the first sign of weakness. The pair may then retest the breakout level of $17.32.</p> <h2 class="wp-block-heading" id="polkadot-dot-price-analysis">Polkadot (DOT) Price Analysis</h2> <p class="">After facing resistance at the 50-day SMA ($7.28) for several days, the bulls finally propelled Polkadot&nbsp;above the overhead hurdle on Feb. 13.</p>
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   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/02/15/40515802a8f0602e16b71f080bfc914d.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em><strong><sub>DOT/USDT daily chart. Source:&nbsp;</sub></strong></em><strong><sub><em>TradingView</em></sub></strong>
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  </div> <p class="">The rise above the 50-day SMA increases the likelihood of the failure of the H&amp;S pattern. That may attract buyers trying to drive the price to $8.58. This level may witness strong selling by the bears.</p> <p class="">Suppose Bearsst sinks and sustains the price below the 20-day EMA ($7.08). If they want to make a comeback, the DOT/USDT pair could plummet to the robust support at $6.</p> <p class="">Source – Rakesh Upadhyay</p> </a>
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<p><a target="_blank" rel="noreferrer noopener">Source: </a><a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/latest-market-overview-14th-feb-btc-eth-sol-bnb-xrp-ada-avax-doge-link-dot-tbt79861.html">https://thebittimes.com/latest-market-overview-14th-feb-btc-eth-sol-bnb-xrp-ada-avax-doge-link-dot-tbt79861.html</a></p>

Latest Market Overview 14th Feb: BTC, ETH, SOL, BNB, XRP, ADA, AVAX, DOGE, LINK, DOT

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