Bitcoin will try to gain a foothold above $ 50,000 today

Bitcoin will try to gain a foothold above $ 50,000 today

DogeCoin deflates after the tweet published by Elon Musk about payments with the cryptocurrency. Polkadot (DOT) is trading close to $ 28.00.

  • Cardano is trading above $ 1.30
  • Dogecoin falls back on news of Elon Musk
  • Uniswap succumbs to the $ 16.00 mark

The cryptocurrency market is trying to make up for the sales of recent weeks, after a hesitant start to the week and with breaks from the lows of December. However, after the message from the Fed yesterday Wednesday, we have the “cryptos” moving away from supports, as is the case of Bitcoin (BTC), which trades above $ 49,000 and focuses on the psychological level of the $ 50,000 , scoring a rise of more than 6% from weekly lows.

Then, the ethereum (ETH) is trading above the psychological barrier of $ 4000 , recovering more than 10% from the lows of the session yesterday, when he approached the area of the $ 3600, so a daily close on said resistance will be important.

On the other hand, the Cardano (ADA) tries to stay away from the November lows, but the downward pressure places the cryptocurrency around $ 1.30, once it hit $ 1.40, therefore, it could continue with the corrective phase that the “crypto” brings from the annual highs harvested in August.

Dogecoin (DOGE) is trading above 0.18 dollars on Thursday , after bouncing more than 20% after the publication of a tweet by Elon Musk about the possibility of accepting payments with Doge, a situation that created a significant stir in the cryptocurrency .

On the other hand, Chainlink (LINK) rises today around 0.90% , thus moving away from the lows of November, once it touched the resistance of $ 23.00 and could not pierce the next short-term bearish guideline. joining the decreasing highs of November, so we will be on the lookout for resistance at $ 20.

Similarly, we have Polkadot (DOT), trading near $ 28.00 after losing more than 30% in November, with the goal for the week being above $ 30.00, a key resistance zone for the cryptocurrency, since at this level we will know the intentions of the buyers.

Finally, Uniswap (UNI) is trading in a descending sideways range , trying to get back on track to $ 16.00 and concentrating all eyes on $ 15.00.

How could you trade Ethereum? Operational example

The volatility that we observe in Ethereum can offer excellent trading opportunities . Below, I offer an example of how we could trade the security with CFDs, which in no case should be considered as investment advice.

In the case of the first scenario, we would opt for a purchase strategy at a price of 4100 dollars with the contract of 1 euro per point (each increase or decrease in price we win or lose 1 euro) and our stop would be at 3950 dollars.

On the other hand, if we opt for the second strategy, and we go on sale at a price of 4025 dollars with the contract of 1 euro per point, we could put the stop level at 4200 dollars. Therefore, trading on Ethereum has a leverage of 1: 2 (50% margin), as established by the ESMA regulator.

 


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Samuel Edwards
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