Bitcoin’s (BTC) range-bound action seems to be increasing the confidence of institutional investors looking to resume investing in cryptocurrencies. Proof of this comes as Marshall Wace, a London-based hedge fund, announced plans to invest in the digital asset space, according to sources at the Financial Times.

A survey of wealth managers and institutional investors already holding crypto, from the U.S., U.K., Frankreich, Deutschland, and the UAE shows that 82% of the respondents expect to increase their investments in digital assets by 2023.

The research shared with Cointelegraph claims that only 7% of the participants plan to reduce their exposure to crypto, während 40% plan to “dramatically increase their holdings.”

Tägliche Marktleistung bei Kryptowährungen. Quelle: Coin360

More evidence of institutional interest was highlighted in a report from CoinShares which revealed a total institutional inflow of $63 million into digital asset funds. The buying was broad-based as all individual digital assets with dedicated funds witnessed inflows for the first time in nine weeks.

jedoch, the arrival of institutional investors is unlikely to result in a sharp upswing in crypto prices in the short term. This is because institutions gradually accumulate their desired exposure before boosting prices higher.

Let’s analyze the charts of the top-10 cryptocurrencies to identify the levels that will suggest the start of a possible uptrend.

BTC / USDT

The bulls have been holding Bitcoin above the trendline for the past few days. Ein Ausbruch und nah oben $36,670 will complete an ascending triangle pattern that could result in a move to the overhead resistance at $42,451.67.

BTC / USDT-Tages-Chart. Quelle: TradingView

The bears are likely to mount a stiff resistance at $42,451.67. Wenn der Preis von diesem Niveau abfällt, the BTC/USDT pair could drop to $36,670. If buyers can flip this level into support, it will suggest that the sentiment has turned positive and traders are buying on dips.

That will increase the possibility of a break above $42,451.67. Such a move will suggest that the correction has ended and the pair is ready to start a new uptrend.

Umgekehrt, if the price turns down from the current level or the overhead resistance and breaks below the trendline, das Paar kann auf fallen $31,000. This is an important level to watch out for because the bears have not been able to manage a close below it.

Falls das passiert, it will indicate that the bears have absorbed the demand. Eine Pause unten $28,000 could result in panic selling, opening the gates for a drop to $20,000.

ETH / USDT

The bulls have sustained Ether (ETH) above the 20-day exponential moving average ($2,219) für die letzten drei Tage, which indicates that the sentiment is turning positive. The buyers are currently attempting to push and sustain the price above the 50-day simple moving average ($2,369).

ETH / USDT Tages-Chart. Quelle: TradingView

Wenn sie erfolgreich sind, the ETH/USDT pair could rally to the downtrend line where the bears may again mount a stiff resistance. If the price turns down from it but rebounds off the 20-day EMA, then the possibility of a break above the downtrend line increases.

Such a move could open the gates for a move to $2,990.05. A break above this resistance will suggest that the correction is over.

Umgekehrt, if the price turns down from the current level or the overhead resistance and breaks below the 20-day EMA, es wird anzeigen, dass Bären auf Rallyes verkaufen. Das Paar könnte dann auf fallen $2,000 und dann $1,728.74.

BNB / USDT

Binance-Münze (BNB) brach über der 20-Tage-EMA ($312) im Juli 6, which suggests that the demand is picking up. The bears may now try to defend the 50-day SMA ($333) aggressiv.

BNB / USDT-Tages-Chart. Quelle: TradingView

jedoch, the flat 20-day EMA and the relative strength index (RSI) über 53 indicate the bulls are back in the game. If buyers push and sustain the price above the 50-day SMA, the BNB/USDT pair could rally to $379.58 und dann $433.

Entgegen dieser Annahme, if the price turns down from the 50-day SMA and plummets below $264.26, it will suggest that bears have overpowered the bulls and are back in the driver’s seat. Das Paar könnte dann auf fallen $211.70.

ADA / USDT

Cardano (ES GIBT) has been trading above the 20-day EMA ($1.39) for the past three days but the bulls have not been able to challenge the 50-day SMA ($1.49). Die flache 20-Tage-EMA und der relative Festigkeitsindex (RSI) near the midpoint suggest a balance between supply and demand.

ADA / USDT-Tages-Chart. Quelle: TradingView

This equilibrium will shift in favor of the bulls if they propel the price above the 50-day SMA. That could result in a move to $1.60 and then to the overhead resistance at $1.94. Die Bären werden dieses Level wahrscheinlich aggressiv verteidigen.

Entgegen dieser Annahme, if bears sink and sustain the price below the 20-day EMA, the ADA/USDT pair could drop to $1.20. Wenn der Preis von diesem Niveau abprallt, the bulls will make one more attempt to clear the overhead hurdle. jedoch, wenn die $1.20 Stützrisse, das Paar könnte fallen auf $1.

DOGE / USDT

Dogecoin (Hund) turned down from the 20-day EMA ($0.25) im Juli 5 but the bears have not been able to sink the price below the $0.21 Unterstützung. This suggests that selling dries up at lower levels.

DOGE / USDT-Tages-Chart. Quelle: TradingView

jedoch, if bulls do not drive the price above the 20-day EMA, the selling may resume. The downsloping moving averages and the RSI below 41 suggest that the path of least resistance is to the downside.

Eine Pause unten $0.21 could open the doors for a decline to $0.15. This is an important support for the bulls because a break below it could result in panic selling. The DOGE/USDT pair could then drop to $0.10.

Alternative, if bulls push and sustain the price above the 20-day EMA, the pair may rally to the neckline of the head and shoulders pattern.

XRP / USDT

XRP has been sandwiched between $0.63 und die 20-Tage-EMA ($0.70) für die letzten Tage. This tight-range trading suggests indecision among the bulls and the bears about the next directional move. Deshalb, traders seem to be avoiding large bets.

XRP / USDT-Tages-Chart. Quelle: TradingView

jedoch, this consolidation in the small range is unlikely to continue for long. Demnächst, the price may start a decisive move. If bulls thrust the price above the 20-day EMA and the overhead resistance at $0.75, the XRP/USDT pair could rise to $0.93 und später zu $1.07.

Andererseits, wenn der Preis unten sinkt $0.63, Die Bären werden versuchen, den Preis auf zu senken $0.58 und dann zu $0.50. A break below the psychological level at $0.50 will suggest the resumption of the downtrend.

DOT / USDT

The bulls are attempting to push Polkadot (PUNKT) above the overhead resistance at $16.93 und die 20-Tage-EMA ($17.07). Wenn sie erfolgreich sind, the altcoin could rally to the 50-day SMA ($20.43) where the bears are again likely to mount a stiff resistance.

DOT / USDT-Tages-Chart. Quelle: TradingView

jedoch, following the breakout, if buyers arrest the next decline at the 20-day EMA, es wird eine mögliche Änderung der Stimmung vorschlagen. Die Abflachung der 20-Tage-EMA und der RSI oben 45, signal that bulls are trying to make a comeback.

If buyers propel the price above the 50-day SMA, the DOT/USDT pair may start its northward march toward $26.50. This positive view will invalidate if the price turns down and slides below $13.

UNI / USDT

Die Bullen verteidigten die 20-Tage-EMA ($20.11) im Juli 5, which indicates a possible change in sentiment. The buying continued on July 6 and the bulls pushed Uniswap (UNI) above the 50-day SMA ($22.20). There was a weak attempt by the bears to stall the relief rally at this level but that has been overcome by the buyers today.

UNI / USDT-Tages-Chart. Quelle: TradingView

The 20-day EMA has started to turn up and the RSI has risen above 56, indicating that buyers have the upper hand. Es gibt einen geringen Widerstand bei $25 but if this level is crossed, the UNI/USDT pair may rise to $27 und dann $30.

This positive view will invalidate if the price turns down from the current level and the bears pull the pair below the 20-day EMA. Falls das passiert, it will suggest that the bears have trapped the aggressive bulls, opening the possibility of a fall to $16.93 and later $13.

verbunden: Bitcoin battles $35K as traders agree volatile BTC price move incoming

BCH / USDT

Bitcoin Cash (BCH) has been clinging to the overhead resistance at $538.11 für die letzten Tage. A tight consolidation near a stiff resistance usually results in a break above it.

BCH / USDT-Tages-Chart. Quelle: TradingView

Die Wohnung 20 Tage EMA ($524) und der RSI oben 46 indicate the bulls are trying to make a comeback. If buyers propel the price above $538.11, the BCH/USDT pair could start its upward journey to $650.35 und dann $800.

Entgegen dieser Annahme, if the price turns down from the current level or the 50-day SMA ($596) and breaks below $475.69, das Paar kann auf fallen $370. Such a move may keep the pair range-bound between $370 und $538.11 für ein paar Tage.

SOL / USDT

Solana (SOL) had been trading between the 50-day SMA ($34.67) and the horizontal support at $33 für die letzten Tage. This showed that the bulls were not dumping their positions near the 50-day SMA and were buying on dips below $33.

SOL / USDT-Tages-Chart. Quelle: TradingView

The failure of the bears to sustain the price below $33 attracted buying and the bulls have driven the price above the 50-day SMA today. The SOL/USDT pair could now rally to the overhead resistance zone at $41.75 zu $44.

If the price turns down from this zone but rebounds off the 20-day EMA, it will suggest that the sentiment has changed from sell on rallies to buy on dips. That will improve the prospects of a break above $44. Falls das passiert, the pair could start a new uptrend. The bears may gain the upper hand on a break below $31.36.

Die hier geäußerten Ansichten und Meinungen sind ausschließlich die des Autors und spiegeln nicht unbedingt die Ansichten von Cointelegraph wider. Jeder Investitions- und Handelsschritt ist mit Risiken verbunden. Sie sollten Ihre eigenen Untersuchungen durchführen, wenn Sie eine Entscheidung treffen.

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