When the sentiment in the market turns bearish, every bit of negative news, however insignificant, pulls the price down as traders panic sell. This is what happened after China’s social media giant, Weibo, suspended a number of crypto-related accounts and triggered fears that a wider crackdown could occur.

En otras noticias, a note from Goldman Sachs said their meetings with 25 chief investment officers of long-only and hedge funds revealed Bitcoin (BTC) as the least favorite asset for investment.

Vista diaria de datos del mercado criptográfico. Fuente: Moneda360

While the news may be negative in the short term, it is unlikely to change the long-term story of Bitcoin. As the price corrects, several institutional investors are likely to consider crypto investments to hedge their portfolio against the possible surge in inflation in the United States.

From the perspective of most traders, Bitcoin’s current decline continues to represent a buying opportunity for the longer term.

Let’s analyze the charts of the top-5 cryptocurrencies that may outperform in the next few days.

BTC / USDT

Bitcoin turned down from the 20-day exponential moving average ($39,127) en Junio 3 but is finding support near the trendline of the triangle. This shows that bulls are buying on dips, and bears are selling on rallies.

Gráfico diario BTC / USDT. Fuente: TradingView

The next trending move is likely to start after the price escapes from the triangle. If the bulls propel and sustain the price above the resistance line, the BTC/USDT pair could rally to the 50-day simple moving average ($47,198) y luego al patrón de destino en $52,622.90.

De lo contrario, if the price turns down and breaks below the trendline of the triangle, sugerirá que la oferta excede la demanda. That could result in a drop to the $30,000 a $28,000 zona de apoyo.

If this zone cracks, the selling could intensify as several traders who bought recently may exit their positions. That may pull the price down to $20,000.

Gráfico de 4 horas BTC / USDT. Fuente: TradingView

The moving averages on the 4-hour chart have flattened out, y el índice de fuerza relativa (RSI) is oscillating roughly between 40 y 60, indicating an equilibrium between buyers and sellers.

sin embargo, this state of uncertainty is unlikely to continue for long and the price is likely to break above or below the triangle in the next few days. If the price breaks out and sustains above the triangle, it will suggest the setup acted as a reversal pattern.

en cambio, if the price breaks below the triangle, it will suggest that the current consolidation was a temporary halt in a strong downtrend. It is difficult to predict the direction of the breakout, hence traders may wait for the break to happen before considering fresh positions.

ETH / USDT

Éter (ETH) turned down from the 50-day SMA ($2.908) en Junio 4 and re-entered the symmetrical triangle. sin embargo, the positive thing is that bulls did not give up much ground, indicating strong buying near $2,550.

Gráfico diario ETH / USDT. Fuente: TradingView

If the buyers drive the price above the resistance line of the triangle, the ETH/USDT pair may again challenge the 50-day SMA. A breakout and close above this resistance could clear the path for a move to the 61.8% Nivel de retroceso de Fibonacci en $3,362.72.

Contrariamente a esta suposición, if the price turns down from the 50-day SMA once again, it will suggest that bears are defending the resistance aggressively. Un descanso debajo $2,550 could pull the price down to the support line of the triangle. A break below the triangle will be the first indication that the bears are back in the driver’s seat.

Gráfico de 4 horas ETH / USDT. Fuente: TradingView

The 4-hour chart shows the formation of an ascending triangle pattern that will complete on a breakout and close above $2,906. Si eso pasa, la pareja podría reunirse para $3,600 y luego al patrón de destino en $4,083.26.

This bullish view will invalidate if the price turns down and breaks below the trendline of the triangle. The bears will then try to pull the price down to $2,200 y luego al soporte crítico en $1,728.74.

ADA / USDT

Cardano (AHI ESTA) has been stuck in a large range between $1.94 y $1 durante los últimos días. The altcoin turned down from the resistance on the range on June 4 and has dropped to the moving averages.

Gráfico diario ADA / USDT. Fuente: TradingView

The bulls are currently attempting to defend the zone between the 20-day EMA ($1.66) and the 50-day SMA ($1.55). If the price rebounds off the current levels, it will suggest the sentiment is turning positive and traders are buying the dips to the moving averages.

Una ruptura y un cierre por encima $1.94 will indicate the bulls are back in the driver’s seat. If the price sustains above this level, the ADA/USDT pair could retest the all-time high at $2.47. A break above this resistance will indicate the start of the next leg of the uptrend.

This positive view will invalidate if the pair turns down and breaks below the 50-day SMA. The bears will then try to pull the price down to the $1.33 a $1.22 zona de apoyo.

Gráfico de 4 horas ADA / USDT. Fuente: TradingView

The 4-hour chart shows the formation of an ascending triangle pattern that will complete on a breakout and close above $1.94. Esta configuración alcista tiene un objetivo en $2.88. sin embargo, it is unlikely to be a straight dash to the target because the bears may mount a stiff resistance at the current all-time high at $2.47.

The 20-EMA has started to turn down and the RSI is just below the midpoint, suggesting a possible drop to the trendline of the triangle. A break below this support will invalidate the bullish setup and that may result in a drop to $1.36 y luego a $1.

SOL/USDT

The bears are attempting to stall Solana’s (SOL) relief rally at the 61.8% Nivel de retroceso de Fibonacci en $43.38. sin embargo, the sellers haven’t been able to sink the price below the 20-day EMA ($36.39), which indicates the sentiment has turned positive.

VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for SOL on June 1, before the rally picked up momentum..

Los VORTECS™ Puntaje, exclusivo de Cointelegraph, es una comparación algorítmica de las condiciones históricas y actuales del mercado derivadas de una combinación de puntos de datos que incluyen el sentimiento del mercado, volumen de comercio, movimientos recientes de precios y actividad de Twitter.

VORTECS™ Puntaje (verde) vs. Precio SOL. Fuente: Cointelegraph Markets Pro

As seen from the chart above, los VORTECS™ Score for SOL flipped green on June 1 cuando el precio estaba cerca de $32.10.

Los VORTECS™ Score has consistently remained in the green since then and the price of SOL has rallied to $43.33 hoy, grabando un 35% gain in five days. This shows how the VORTECSScore gave an early indication of a counter trend rally even as other tools would have been bearish.

Gráfico diario SOL / USDT. Fuente: TradingView

The SOL/USDT pair rebounded off the 20-day EMA on June 4 and has bounced off the 50-day SMA ($39.42) hoy. This suggests the bulls are not waiting for a deeper correction to buy.

If buyers drive the price above $43.38, it will indicate the downtrend is over. The pair could then rally to the 78.6% nivel de retroceso en $49.97 y luego al máximo histórico en $58.38. The 20-day EMA has started to turn up and the RSI is in the positive territory, suggesting the buyers have the upper hand.

This positive view will invalidate if the price turns down and slumps below the trendline. La pareja podría entonces declinar $25.58 and later to $21.

Gráfico de 4 horas SOL / USDT. Fuente: TradingView

The moving averages on the 4-hour chart have turned up and the RSI is trading in the positive territory, suggesting the bulls are making a comeback. The up-move may pick up momentum if buyers thrust the price above $43.38.

en cambio, if the price turns down and breaks the 20-EMA, sugerirá que la oferta excede la demanda. The pair could then drop to the 50-SMA and then to the trendline. A break below the trendline will indicate that bears are back in the game.

THETA / USDT

THETA is trading inside a descending channel. The bulls attempted to push and sustain the price above the resistance line of the channel on June 4 y 5 pero falló. This suggests the bears are defending this resistance aggressively.

Gráfico diario THETA / USDT. Fuente: TradingView

sin embargo, the 20-day EMA ($8.19) ha comenzado a aparecer y el RSI está en territorio positivo, indicating the bulls have a slight advantage. If the THETA/USDT pair rebounds off the 20-day EMA, the buyers will make one more attempt to propel the price above the channel.

Si tienen éxito, it will suggest the downtrend could be over. The pair could then start an up-move to $13 and later to the all-time high at $15.88. This bullish view will invalidate if the bears sink and sustain the price below the 20-day EMA. Such a move could result in a decline to $6.

Gráfico de 4 horas THETA / USDT. Fuente: TradingView

The 4-hour chart shows the pair has turned down from the resistance line of the channel on two occasions. sin embargo, the bears have not been able to sink and sustain the price below the 20-EMA, indicating demand at lower levels.

If the pair rebounds off the current level, the bulls will make one more attempt to push the price above the channel. Si logran hacer eso, the next leg of the uptrend may begin.

Por otra parte, if the price breaks below the 20-EMA, the pair could slide down to the 50-SMA. A break below this support will suggest the start of 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.