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By this time tomorrow, the SEC will likely have announced its decision on the spot ETH ETF. Predictions point in this direction. On May 23, after the US markets close, the SEC will have to announce its decision for the VanEck ETF, either approving or rejecting it for several altcoins. During that time, we will likely see high volatility in the charts of DOGE, ADA, and AVAX. So, what are the predictions?
DOGE Chart Analysis
At the time of writing, the bears seem to have won the battle at $0.17 for DOGE. The 20-day EMA is at $0.15, and as long as this level is maintained, upward attempts may be seen. If the price exceeds $0.17, DOGE will likely test the $0.21 and $0.23 regions again. In the opposite scenario, the long-standing narrow range movements are likely to continue in a more tedious manner.
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ADA Coin Chart Analysis
The price, which jumped above the 50-day SMA ($0.49), easily turned back from $0.52. If the weakness continues, ADA Coin may move towards lower support levels. In the opposite scenario, the target is at $0.57. We frequently share evaluations for ADA Coin, and the key regions have remained stable due to low volatility for a long time.
AVAX Chart Analysis
Following the good news on Monday, AVAX quickly turned upwards. Reclaiming $40 is a very positive development. The rise that started from the 20-day EMA ($36.62) now allows the price to continue finding buyers above the general resistance level of $40.
Moving averages favor the continuation of the rise, and the RSI supports this. The psychological resistance at $50 is very important, and we have repeatedly mentioned that this level is one of the main obstacles on the way to triple-digit prices throughout the first quarter. Although AVAX creates environments favorable to bears with significant key openings, it may succeed this time with SEC support.
In the opposite scenario, a drop to $29 will not be surprising. Indeed, the price recently turned back from $31.5. BTC continues to find buyers at $69,156 for now.
