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.

toutefois, 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.

Vue quotidienne des données du marché Crypto. La source: Pièce360

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).

Graphique journalier BTC / USDT. La source: TradingView

The downsloping 20-day EMA and the relative strength index (RSI) in the negative zone suggest that bears have the upper hand. Si le prix baisse par rapport à l'EMA de 20 jours, the possibility of a break below the 100-day SMA will increase.

Such a move will complete the bearish head and shoulders pattern, qui a un objectif cible à $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.

Graphique BTC / USDT sur 4 heures. La source: 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.

S'ils peuvent le retirer, the pair could climb to $49,000. inversement, si le prix baisse par rapport au niveau actuel, the bears will try to pull the price below the critical support zone at $41,000 à $39,600. A violation of this zone may indicate the start of a downtrend.

AVAX / USDT

avalanche (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).

Graphique journalier AVAX / USDT. La source: 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.

inversement, if the price turns down from the current level or the overhead resistance and breaks below $60.04, it will suggest the start of a deeper correction to the 50-day SMA ($45).

Graphique AVAX/USDT sur 4 heures. La source: TradingView

The pair has bounced off the 100-SMA and the bulls are attempting to sustain the price above the 20-EMA. S'ils réussissent à faire ça, the pair could start its northward march to $79.80 où les ours peuvent à nouveau monter une résistance rigide.

À la baisse, 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 le prix glisse ci-dessous $60.04, le déclin pourrait s'étendre à $55.

ALGO/USDT

Algorand (QUELQUE CHOSE) 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. La source: TradingView

If bulls drive and sustain the price above the downtrend line, cela suggérera que la correction à court terme pourrait être terminée. The ALGO/USDT pair could then rise to $2.15 puis à $2.55.

Alternativement, si le prix baisse de $1.84, la paire pourrait à nouveau tomber à $1.51. Si les taureaux défendent ce soutien, la paire peut rester dans l'intervalle entre $1.84 et $1.51 pour quelques jours.

Une pause et fermer ci-dessous $1.51 signalera un possible changement de tendance. The pair could then slide to the next support at $1.15.

ALGO/USDT 4-hour chart. La source: 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 le prix baisse à cause de la résistance des frais généraux, 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.

en relation: Les données sur les dérivés suggèrent que Solana a atteint un sommet à court terme

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) le septembre. 23 and have held the level since then.

Graphique journalier XTZ / USDT. La source: TradingView

Les moyennes mobiles sont en pente ascendante et le RSI est en territoire positif, suggérant que les taureaux ont le dessus. The buyers are likely to challenge the overhead resistance zone at $8.03 à $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.

Contrairement à cette hypothèse, si le prix baisse par rapport au niveau actuel ou à la résistance aérienne et passe en dessous de l'EMA de 20 jours, la paire pourrait tomber à $4.47.

Graphique XTZ / USDT sur 4 heures. La source: 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 paire peut se rallier à $8.03 où les ours sont susceptibles de monter une résistance raide. If bulls do not give up much ground from this resistance, the possibility of a break above it will increase.

Cette vue haussière sera invalidée si le prix baisse et tombe en dessous des moyennes mobiles. Such a move could result in a drop to $5.50 et alors $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. La source: TradingView

L'EMA de 20 jours ($220) has flattened out and the RSI is just above the midpoint, indiquant un équilibre entre l'offre et la demande.

The buyers are attempting to sustain the EGLD/USDT pair above the 20-day EMA. S'ils réussissent à faire ça, the bulls will again try to push the pair above $245.80. S'ils réussissent à faire ça, la paire pourrait se rallier à $303.03.

Au contraire, 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. La source: 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. S'ils réussissent, the pair may resume its up-move and rally to $277.88 puis à $303.03.

Contrairement à cette hypothèse, si le prix baisse à partir de la ligne de tendance baissière, 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.

Les vues et opinions exprimées ici sont uniquement celles de l'auteur et ne reflètent pas nécessairement les vues de Cointelegraph. Chaque mouvement d'investissement et de trading comporte des risques, vous devez mener vos propres recherches lorsque vous prenez une décision.