Cryptocurrency Price Insights: Bitcoin- AVAX- Dogecoin and LINK

AVAX Dogecoin LINK

Bitcoin price stabilizes above $43,000 following the Fed meeting, while AVAX Coin struggles to maintain $36 amidst market fluctuations. Dogecoin trades below $0.08, with key levels in focus.

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Bitcoin’s price sits above $43,000 as expectations for a market interest rate cut stabilize after the Fed meeting. Following robust employment data on Friday, the likelihood of a rate cut in March decreased to 17%, compared to over 80% just weeks ago.



AVAX Coin Price Analysis

As January drew to a close, the price of AVAX Coin dipped below $34.29, although bears failed to drive it to lower depths. On February 2, the price surged above the 20-day Exponential Moving Average (EMA), indicating a tentative resurgence in buyer interest in altcoins. However, AVAX struggled to maintain $36 at the time of writing.

Looking ahead, if the bulls maintain their strength, they may aim for new highs above the channel’s resistance level. Targets of $44 and $50 appear reasonable for now. However, a close below $32 could prompt a downward movement towards the channel’s support line.

DOGE Price Analysis

DOGE continues to trade below $0.08, with bears failing to drive the price to deeper lows. Amid changing sentiment in BTC price, most altcoins, including DOGE, have yet to determine a clear direction. Over the weekend, sideways movements are likely due to decreased volumes.

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For the meme coin king, there are three key levels to watch. A close above $0.08 could signal a target of $0.1. Conversely, a drop to $0.07 is anticipated in the opposite scenario. These three levels have been influencing DOGE’s price movements for months, resembling a ping-pong ball bouncing between them.

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LINK Coin Price Analysis

After days of anticipation, LINK Coin finally made the anticipated upward move, reaching a peak above $18 before relaxing at the time of writing. Despite gaining momentum with closes above $17.32 on February 2, profit-taking has now resumed. If sellers persist, the price could retreat to the key region at $17.32.

In the event of further decline, $15.38 serves as an important support level. However, if LINK Coin manages to sustain above $17.32, it has the potential to advance to $21.79 and subsequently to peaks around $25. For now, as long as it remains above $17.9, the outlook is not overly negative.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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