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.

Echter, 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.

Crypto-marktgegevens dagelijkse weergave. Bron: Coin360

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).

BTC / USDT dagelijkse grafiek. Bron: TradingView

The downsloping 20-day EMA and the relative strength index (RSI) in the negative zone suggest that bears have the upper hand. Als de prijs lager wordt dan de 20-daagse EMA, the possibility of a break below the 100-day SMA will increase.

Such a move will complete the bearish head and shoulders pattern, die een streefdoel heeft op $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.

BTC / USDT 4-uurs grafiek. Bron: 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.

Als ze het kunnen redden, the pair could climb to $49,000. Omgekeerd, als de prijs naar beneden gaat vanaf het huidige niveau, the bears will try to pull the price below the critical support zone at $41,000 naar $39,600. A violation of this zone may indicate the start of a downtrend.

AVAX / USDT

Lawine (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).

AVAX / USDT dagelijkse grafiek. Bron: 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.

Omgekeerd, als de prijs daalt van het huidige niveau of de overheadweerstand en hieronder breekt $60.04, it will suggest the start of a deeper correction to the 50-day SMA ($45).

AVAX/USDT 4-uurgrafiek. Bron: TradingView

The pair has bounced off the 100-SMA and the bulls are attempting to sustain the price above the 20-EMA. Als het ze lukt om dat te doen, the pair could start its northward march to $79.80 waar de beren weer een stevige weerstand kunnen opbouwen.

Aan de andere kant, 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. Als de prijs hieronder zakt $60.04, de daling kan zich uitstrekken tot: $55.

ALGO/USDT

Algorand (IETS) 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. Bron: TradingView

If bulls drive and sustain the price above the downtrend line, het zal suggereren dat de correctie op korte termijn voorbij zou kunnen zijn. The ALGO/USDT pair could then rise to $2.15 en dan naar $2.55.

alternatief, als de prijs omlaag gaat van $1.84, het paar zou weer kunnen dalen tot $1.51. Als de stieren deze steun verdedigen, het paar kan range-bound blijven tussen $1.84 en $1.51 voor een paar dagen.

Een pauze en hieronder sluiten $1.51 zal een mogelijke trendverandering signaleren. The pair could then slide to the next support at $1.15.

ALGO/USDT 4-hour chart. Bron: 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.

Als de prijs lager wordt dan de overheadweerstand, 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.

Verwant: Derivatengegevens suggereren dat Solana een kortetermijntop heeft bereikt

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) op sept. 23 and have held the level since then.

XTZ / USDT dagelijkse grafiek. Bron: TradingView

De voortschrijdende gemiddelden lopen op en de RSI bevindt zich in het positieve gebied, suggesting that bulls have the upper hand. The buyers are likely to challenge the overhead resistance zone at $8.03 naar $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.

In tegenstelling tot deze veronderstelling, als de prijs daalt vanaf het huidige niveau of de overheadweerstand en onder de 20-daagse EMA komt, het paar zou kunnen dalen tot $4.47.

XTZ / USDT 4-uurs grafiek. Bron: 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.

Als dit niveau wordt geschaald, het paar kan zich verzamelen $8.03 waar de beren waarschijnlijk een stevige weerstand zullen opbouwen. If bulls do not give up much ground from this resistance, the possibility of a break above it will increase.

Deze optimistische visie wordt ongeldig als de prijs omlaag gaat en onder de voortschrijdende gemiddelden uitkomt. Such a move could result in a drop to $5.50 en toen $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. Bron: TradingView

De 20-daagse EMA ($220) has flattened out and the RSI is just above the midpoint, duidend op een evenwicht tussen vraag en aanbod.

The buyers are attempting to sustain the EGLD/USDT pair above the 20-day EMA. Als het ze lukt om dat te doen, the bulls will again try to push the pair above $245.80. Als het ze lukt om dat te doen, het paar zou zich kunnen verzamelen $303.03.

Integendeel, 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. Bron: 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. Als ze slagen, the pair may resume its up-move and rally to $277.88 en dan naar $303.03.

In tegenstelling tot deze veronderstelling, als de prijs daalt vanaf de neerwaartse trendlijn, 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.

De meningen en meningen die hier worden uitgedrukt, zijn uitsluitend die van de auteur en weerspiegelen niet noodzakelijk de mening van CoinTelegraph. Elke investering en elke handelsbeweging brengt risico's met zich mee, u dient uw eigen onderzoek te doen bij het nemen van een beslissing.