China has attempted to stifle the crypto sector’s growth on several occasions in the past 12 years but barring a minor blip, the blanket bans on crypto-commerce have not altered the long-term growth of cryptocurrencies. This shows that no one country, even if it is the second-largest economy in the world, can halt the emergence and growth of cryptocurrencies.

Deutsche Bank analyst Marion Laboure said in an update on the bank’s website that Bitcoin (BTC) is likely to “remain ultra-volatile in the foreseeable future” as most people buy it either for investment or for speculation rather than using it as a medium of exchange.

Sin embargo, Laboure believes that Bitcoin could become “the 21st century’s digital gold” and the trend could continue for centuries with no major control by the government.

Vista diaria de datos del mercado criptográfico. Fuente: Moneda360

At Morningstar’s yearly investment conference, Dennis Lynch, the head of asset management at Counterpoint, likened Bitcoin to the South Park cartoon character Kenny. Lynch said: “I like to say that bitcoin’s kind of like Kenny from South Park — he dies every episode, and is back again.”

As the effect of the China FUD diminishes, let’s study the charts of the top-5 cryptocurrencies that may remain strong in the short term.

BTC / USDT

Bitcoin has once again bounced off the 100-day simple moving average ($41,002), suggesting that bulls are attempting to defend this level aggressively. The bulls will now try to push the price above the 20-day exponential moving average ($45,178).

Gráfico diario BTC / USDT. Fuente: TradingView

The downsloping 20-day EMA and the relative strength index (RSI) in the negative zone suggest that bears have the upper hand. Si el precio baja desde la EMA de 20 días, the possibility of a break below the 100-day SMA will increase.

Such a move will complete the bearish head and shoulders pattern, que tiene un objetivo en $32,423.05.

The bulls will have to push and sustain the price above the overhead resistance at $48,843 to open the doors for a possible rally to $52,920. A break and close above this level could signal the resumption of the uptrend.

Gráfico de 4 horas BTC / USDT. Fuente: TradingView

The BTC/USDT pair is witnessing a tough tussle between the bulls and the bears near the neckline. The bulls have pushed the price above the 20-EMA and will next try to clear the overhead hurdle at $45,200.

Si pueden lograrlo, the pair could climb to $49,000. en cambio, si el precio baja del nivel actual, the bears will try to pull the price below the critical support zone at $41,000 a $39,600. A violation of this zone may indicate the start of a downtrend.

AVAX / USDT

avalancha (AVAX) is trading inside an ascending channel pattern. The long tail on today’s candlestick suggests that bulls are aggressively buying on dips to the 20-day EMA ($61).

Gráfico diario AVAX / USDT. Fuente: TradingView

The rising moving averages and the RSI in the positive zone indicate advantage to buyers. The AVAX/USDT pair could now try to retest the all-time high at $79.80. This is an important level to watch out for because a break above it could signal the resumption of the uptrend.

The pair could then rally to the resistance line of the channel and the bullish momentum may pick up if this hurdle is crossed.

en cambio, si el precio baja desde el nivel actual o la resistencia superior y se rompe por debajo $60.04, it will suggest the start of a deeper correction to the 50-day SMA ($45).

Gráfico de 4 horas AVAX / USDT. Fuente: TradingView

The pair has bounced off the 100-SMA and the bulls are attempting to sustain the price above the 20-EMA. Si logran hacer eso, the pair could start its northward march to $79.80 donde los osos pueden volver a montar una dura resistencia.

A la baja, the critical level to watch is the support line of the channel. A break and close below this support will be the first indication that the bulls may be losing their grip. Si el precio cae por debajo $60.04, el declive podría extenderse a $55.

ALGO/USDT

Algorand (ALGO) is trading below the 20-day EMA ($1.77) but the long tail on today’s candlestick suggests that bulls are attempting to defend the support at $1.51.

ALGO/USDT daily chart. Fuente: TradingView

If bulls drive and sustain the price above the downtrend line, sugerirá que la corrección a corto plazo podría haber terminado. The ALGO/USDT pair could then rise to $2.15 y luego a $2.55.

Alternativamente, si el precio baja de $1.84, la pareja podría volver a caer a $1.51. If the bulls defend this support, el par puede permanecer dentro del rango entre $1.84 y $1.51 durante unos pocos días.

Un descanso y un cierre por debajo $1.51 señalará un posible cambio de tendencia. The pair could then slide to the next support at $1.15.

ALGO/USDT 4-hour chart. Fuente: TradingView

The pair is trying to rebound off the strong support at $1.51 but the recovery may hit a barrier at the moving averages and then again at the downtrend line.

Si el precio baja por la resistencia superior, it will indicate that sentiment remains negative and traders are selling on relief rallies. That will increase the likelihood of a break below $1.51.

This negative view will be negated if the price rises and sustains above the downtrend line. The bulls will then make one more attempt to resume the up-move.

Relacionado: Los datos de derivados sugieren que Solana ha alcanzado un máximo a corto plazo

XTZ / USDT

Tezos (XTZ) rebounded sharply from the breakout level at $4.47 on Sept.22, indicating aggressive buying on dips. The bulls pushed the price back above the 20-day EMA ($6.10) en septiembre. 23 and have held the level since then.

Gráfico diario XTZ / USDT. Fuente: TradingView

Los promedios móviles están subiendo y el RSI está en territorio positivo, sugiriendo que los toros tienen la ventaja. The buyers are likely to challenge the overhead resistance zone at $8.03 a $8.42.

A breakout and close above this zone will signal the start of the next leg of the uptrend. The pair could then rally to the psychological mark at $10.

Contrariamente a esta suposición, si el precio baja desde el nivel actual o la resistencia general y se rompe por debajo de la EMA de 20 días, el par podría caer a $4.47.

Gráfico de 4 horas XTZ / USDT. Fuente: TradingView

The pair is attempting to rebound off the 20-EMA, indicating that sentiment has turned positive and traders are buying on dips. The bulls will now try to push the price to the overhead resistance at $7.50.

If this level is scaled, la pareja puede unirse a $8.03 donde es probable que los osos monten una fuerte resistencia. If bulls do not give up much ground from this resistance, the possibility of a break above it will increase.

This bullish view will invalidate if the price turns down and breaks below the moving averages. Such a move could result in a drop to $5.50 y entonces $4.47.

EGLD/USDT

Elrond (EGLD) bounced off the 50-day SMA ($181) but could not clear the overhead hurdle at $245.80. This suggests that bulls are buying on dips while bears are selling on rallies.

EGLD/USDT daily chart. Fuente: TradingView

La EMA de 20 días ($220) has flattened out and the RSI is just above the midpoint, indicando un equilibrio entre la oferta y la demanda.

The buyers are attempting to sustain the EGLD/USDT pair above the 20-day EMA. Si logran hacer eso, the bulls will again try to push the pair above $245.80. Si logran hacer eso, la pareja podría reunirse para $303.03.

De lo contrario, if bears pull the price down from the current level, a retest of the 50-day SMA is possible. A break and close below this support could open the doors for a further decline to the 100-day SMA ($132).

EGLD/USDT 4-hour chart. Fuente: TradingView

The pair has bounced off the uptrend line, which suggests that traders are buying on dips. The bulls will now try to propel and sustain the price above the downtrend line. Si tienen éxito, the pair may resume its up-move and rally to $277.88 y luego a $303.03.

Contrariamente a esta suposición, si el precio baja de la línea de tendencia bajista, the bears will try to gain an advantage by pulling the price below the uptrend line. Such a move could clear the path for a deeper correction.

Los puntos de vista y opiniones expresados ​​aquí son únicamente los del autor y no reflejan necesariamente los puntos de vista de Cointelegraph.. Cada inversión y movimiento comercial implica un riesgo, debe realizar su propia investigación al tomar una decisión.