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BTC, XRP, LUNA, DOT and MATIC Price Analysis for February 4

Price Analysis
Fri, 02/04/2022 - 15:12
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Denys Serhiichuk
Have bulls accumulated enough power to keep the growth?
BTC, XRP, LUNA, DOT and MATIC Price Analysis for February 4
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The last working day of the week has turned out to be bullish for the cryptocurrency market as all of the top 10 coins are in the green zone.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Yesterday, buyers tried to restore the price of Bitcoin (BTC) to the area of ​​average prices but met resistance at the level of $37,150. By the end of the day, the pair tested the level of $36,270, and the bulls repeated their attempt to break through the resistance of the 38.2% fibonacci level.

Related
BTC, DOGE and SHIB Price Analysis for February 2

Tonight they fixed above it, and in the morning, they continued to grow toward the two-hour EMA55.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

This growth is not yet supported by large volumes and, if during the day, the bulls do not increase their pressure, then the recovery can again run into resistance at around $38,900. In case of a powerful bullish momentum, a long-awaited retest of the psychological level of $40,000 is possible.

Bitcoin is trading at $37,959 at press time.

XRP/USD

Yesterday, the price of XRP consolidated in a fairly narrow sideways range at the POC line ($0.602).

XRP/USD chart by TradingView
XRP/USD chart by TradingView

This morning, the pair has recovered above the average price area. Growth takes place on small volumes, but if buyers manage to increase them, then a breakthrough of the weekly resistance of $0.630 is possible.

XRP is trading at $0.6127 at press time.

LUNA/USD

LUNA has followed the growth of Bitcoin (BTC), going up by 5.56%.

LUNA/USD chart by TradingView
LUNA/USD chart by TradingView

Despite today's growth, the rate is located in the zone of the most liquidity around $50. Currently, neither bulls nor bears are dominating on the market, which means that none of the sides have accumulated enough energy.

Related
BTC, BNB, ADA, SOL and AVAX Price Analysis for February 1

In this case, one needs to pay close attention to the support level at $37.88 and the resistance at $61.

LUNA is trading at $49.57 at press time.

DOT/USD

DOT/USD chart by Trading View
DOT/USD chart by Trading View

Polkadot (DOT) keeps trading sideways after it has bounced off the support level at $16.17. If the rate comes closer to the vital mark at $20, there are chances to see the continued growth to the resistance at $22.66.

DOT is trading at $19.17 at press time.

MATIC/USD

MATIC is the biggest gainer from the list today, rising by 6.12% over the last 24 hours.

MATIC/USD chart by TradingView
MATIC/USD chart by Trading View

MATIC is trading similarly to DOT as the rate is located in a wide channel between the support at $1.396 and the resistance at $1.756. If the buying trading volume increases, there is a possibility to see slight growth to $1.756 within the next few days.

MATIC is trading at $1.576 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.