Bitcoin (BTC) ed Ether (ETH) are attempting to bounce off their critical support levels as bulls try to thwart attempts by the bears to deepen the correction.

Tesla CEO Elon Musk said at the Code Conference in California recently that governments cannot “destroy crypto,” due to its decentralized nature but can “slow down its advancement.”

Data shows that whales have been moving record amounts of Bitcoin in the past two weeks. The total transfer volume of transactions worth $10 million and higher have surpassed levels seen when Bitcoin’s price was near $60,000.

According to on-chain analytics resource Material Indicators, “smaller” whales sold and mega whales added to their holdings.

Performance giornaliera del mercato delle criptovalute. fonte: Coin360

Bobby Lee, the former CEO of BTCC exchange, said in an interview with Bloomberg on Sept. 29 that Bitcoin’s rally is expected to begin in 2021, which will not only push the price to an all-time high but also clear the psychological mark at $100,000 and possibly reach $200,000.

Are Bitcoin and altcoins getting ready for a relief rally or will bears pull the price below the respective support levels? Analizziamo i grafici delle prime 10 criptovalute per scoprirlo.

BTC / USDT

Bitcoin continues to trade between the 100-day simple moving average ($41,221) and the 20-day exponential moving average ($44,229). The price has rebounded off the 100-day SMA today, indicating that bulls continue to defend this support aggressively.

Grafico giornaliero BTC / USDT. fonte: TradingView

The 20-day EMA is sloping down and the relative strength index (RSI) is in the negative zone, indicating that the sentiment remains negative and bears may sell on rallies. Se il prezzo scende dall'EMA a 20 giorni, the tight range action may continue for a few more days.

A break and close below the 100-day SMA could result in panic selling and pull the price down to $37,332.70. If this level also cracks, the BTC/USDT pair could plummet to $30,000.

In alternativa, a break and close above the 20-day EMA will be the first sign that the selling pressure could be reducing. The pair may then rise to the 50-day SMA ($46,580), followed by a move to $48,843.20.

ETH / USDT

Ether turned down from the 20-day EMA ($3,118) a settembre. 27 and dropped to the 100-day SMA ($2,771) a settembre. 28. The bulls have once again held the support and are attempting to push the price toward the 20-day EMA.

Grafico giornaliero ETH / USDT. fonte: TradingView

The downsloping 20-day EMA and the RSI in the negative territory suggest that bears remain in control. If the price turns down from the current level or the 20-day EMA, the bears will make one more attempt to break the 100-day SMA support.

Se succede, the ETH/USDT pair could slide to $2,400 and if this support also gives way, il declino potrebbe estendersi a $1,972.12. The bulls will have to push and sustain the price above $3,174.50 to signal that the correction may be over. The pair could then rise to the 50-day SMA ($3,291) e poi a $3,676.28.

ADA / USDT

Cardano (C'È) has been trading between the 20-day EMA ($2.27) e il $1.94 support for the past few days. The long wick on today’s candlestick suggests that bears are selling on relief rallies.

Grafico giornaliero ADA / USDT. fonte: TradingView

The downsloping 20-day EMA and the RSI below 40 indicate that bears have the upper hand. The sellers may make one more attempt to sink and sustain the price below the zone between $1.94 and the 100-day SMA ($1.87).

If the price slips below this support zone, the selling could pick up momentum and the ADA/USDT pair could decline to $1.60 e poi a $1.40. This negative view will invalidate if bulls drive and sustain the price above $2.47.

BNB / USDT

Binance Coin (BNB) closed below the $340 support on Sept. 27 but the bears could not capitalize on this move and sink the price below $320. This shows that selling dries up at lower levels.

Grafico giornaliero BNB / USDT. fonte: TradingView

The RSI has formed a positive divergence, indicating that the bearish momentum could be weakening. The strong rally today indicates aggressive buying at lower levels and possible short-covering by the bears.

If bulls drive the price above the 20-day EMA ($381), suggerirà che la correzione potrebbe essere finita. La coppia BNB/USDT potrebbe quindi salire a $433.

Anzi, se il prezzo scende di nuovo dall'EMA a 20 giorni, suggerirà che i commercianti stanno vendendo sui rally. The bears will then make one more attempt to pull the price below $320.

XRP / USDT

XRP again dropped to the 100-day SMA ($0.88) a settembre. 28. Repeated retests of a support level tend to weaken it but a minor positive sign is that the bulls have successfully defended the level on several occasions in the past few days.

Grafico giornaliero XRP / USDT. fonte: TradingView

The bulls pushed the price to the 20-day EMA ($1.00) today but the long wick on the day’s candlestick suggests that bears are in no mood to relent.

Se il prezzo scende dal livello attuale, the bears will make one more attempt to sink and sustain the price below the 100-day SMA. Se ci riescono, the XRP/USDT pair could decline to $0.69.

Contrariamente a questa ipotesi, se i rialzisti guidano il prezzo al di sopra dell'EMA a 20 giorni, la coppia potrebbe raggiungere la SMA a 50 giorni ($1.11).

SOL / USDT

Although Solana (SOL) has broken out of the downtrend line, the bulls are struggling to sustain the price above the 20-day EMA ($141). This suggests that sentiment remains negative and bears are selling on rallies.

Grafico giornaliero SOL / USDT. fonte: TradingView

A break and close above the 20-day EMA will be the first indication that the selling pressure could be reducing. The SOL/USDT pair may then rise to the 38.2% Livello di ritracciamento di Fibonacci a $154.20 e poi al file 50% livello di ritracciamento a $166.

In alternativa, if the price turns down from the 20-day EMA or the overhead resistance, the bears will try to pull the pair below the 50-day SMA ($118). Una pausa e chiudere di seguito $116 could result in panic selling.

DOT / USDT

A pois (PUNTO) is attempting to rebound off the neckline of the developing head and shoulders pattern. This is an important level for the bulls to defend because a break and close below it will complete the bearish setup.

Grafico giornaliero DOT / USDT. fonte: TradingView

The selling could pick up momentum below the neckline, pulling the price to the 100-day SMA ($22.28) and then toward the pattern target at $12.23. L'EMA a 20 giorni in calo ($30.12) and the RSI just below the midpoint suggest a slight advantage to bears.

al contrario, if bulls thrust the price above the 20-day EMA and the downtrend line, it will indicate that bears may be losing their grip. La coppia potrebbe quindi recuperare $33.60 where bears may again pose a stiff challenge. A break and close above this resistance could clear the path for a retest at $38.77.

Relazionato: VORTECS™ rapporto: This key trading algo spotted bullish altcoin setups even as BTC price fell

DOGE / USDT

Dogecoin (DOGE) is sandwiched between $0.19 e $0.21 negli ultimi tre giorni. This tight-range trading suggests indecision among the bulls and the bears about the next directional move.

Grafico giornaliero DOGE / USDT. fonte: TradingView

The RSI is attempting to form a positive divergence, suggesting that the selling pressure could be reducing. If bulls thrust the price above $0.21, the DOGE/USDT pair could rise to the 20-day EMA ($0.22) which could again act as a stiff resistance.

A break and close above the 20-day EMA will be the first indication of strength and could open the gates for a possible up-move to the downtrend line.

In alternativa, se il prezzo scende dal livello corrente o dalla resistenza generale e scende al di sotto $0.19, the pair could plummet to $0.15.

AVAX / USDT

The long wick on Avalanche’s (AVAX) settembre. 27 candlestick shows that bears aggressively sold on rallies. The selling continued and bears pulled the price below the support line of the ascending channel on Sept. 28.

Grafico giornaliero AVAX / USDT. fonte: TradingView

Although bulls have pushed the price back into the channel today, the long wick on the day’s candlestick suggests that bears are selling on every minor recovery. L'EMA a 20 giorni ($62.12) has flattened out and the RSI is just above the midpoint, indicating that bulls may be losing their grip.

If the price fails to sustain inside the channel, the AVAX/USDT pair could slide to the next support at $52. al contrario, if bulls sustain the price inside the channel, la coppia potrebbe salire a $72 e se questo livello viene superato, un nuovo test del massimo storico a $79.80 è possibile.

UNI / USDT

The bulls pushed Uniswap (UNI) above the downtrend line of the descending channel in the past two days but they could not sustain the higher levels. però, a minor positive is that bulls have not given up much ground and are again trying to scale the overhead resistance today.

Grafico giornaliero UNI / USDT. fonte: TradingView

The flattish 20-day EMA ($23) and the RSI near the midpoint suggest that bears are losing their grip. If the price sustains above the channel, the UNI/USDT pair could rise to the 50-day SMA ($25.88) e poi a $27.62.

A break and close above $27.62 may result in a retest of the stiff overhead hurdle at $31.41. al contrario, se il prezzo scende dal livello corrente, it will suggest that bears are aggressively defending the resistance. If the pair slips below $21.84, la prossima tappa potrebbe essere $17.73.

Le opinioni e le opinioni qui espresse sono esclusivamente quelle dell'autore e non riflettono necessariamente le opinioni di Cointelegraph. Ogni mossa di investimento e trading comporta dei rischi. Dovresti condurre le tue ricerche quando prendi una decisione.

I dati di mercato sono forniti da HitBTC scambio.