Bitcoin (BTC) has continued to trade near the $55,000 niveau. The sharp rally in Bitcoin has pushed its market dominance from 40.70% op sep. 12 tot ongeveer 45% vandaag. This shows that the strong recovery in cryptocurrencies has largely been led by Bitcoin.

This sharp run-up in Bitcoin has pushed the Fear and Greed indicator into the Greed zone. Although this indicator suggests that markets may have run up quickly in a short time, it does not necessarily signal a confirmed short-term top.

Crypto-marktgegevens dagelijkse weergave. Bron: Coin360

History suggests that traders who sold their Bitcoin positions on this metric alone could have missed strong gains before the correction set in, as highlighted by Cointelegraph Marke analyst Marcel Pechman.

Could bulls extend the up-move and push the price closer to the all-time high in Bitcoin? Als dat gebeurt, select altcoins may rally to the upside. Let’s study the charts of the top-five cryptocurrencies that could remain strong in the short term.

BTC / USDT

Bitcoin soared above the stiff overhead resistance at $52,920 op oktober. 6 and the bulls have held the price above the breakout level since then. This is a positive sign as it indicates that buyers may be holding on to their positions expecting higher levels in the short term.

BTC / USDT dagelijkse grafiek. Bron: TradingView

The moving averages have completed a bullish crossover and the relative strength index (RSI) bevindt zich in de buurt van de overgekochte zone, suggesting that the path of least resistance is to the upside.

If buyers push the price above $56,100, the uptrend could resume and the BTC/USDT pair may rally to $60,000. Boven dit niveau, een hertest van de all-time high op $64,854 is mogelijk.

In tegenstelling tot deze veronderstelling, als beren de prijs hieronder trekken $52,920, the pair could drop to the 20-day exponential moving average ($49,504). This is an important support for the bulls to defend because a break below it could signal a change in the short-term sentiment.

The pair could then drop to the 50-day simple moving average ($47,578) and next to $40,000.

BTC / USDT 4-uurs grafiek. Bron: TradingView

The bulls are facing selling in the $55,750 naar $56,100 zone but a positive sign is that buyers have not allowed the price to dip below the 20-EMA. This indicates that bulls anticipate a break above the overhead zone.

Als dat gebeurt, het paar zou zijn opwaartse trend kunnen hervatten. Het eerste teken van zwakte is een pauze en sluit onder de 20-EMA. The RSI is forming a negative divergence, signaling that the momentum may be weakening.

A break and close below the 20-EMA could pull the price to the 50-SMA. A break below this support could start a deeper correction.

DOT / USDT

Stip (PUNT) has been gradually moving higher toward the overhead resistance at $38.77. The RSI has broken out of the downtrend line and the 20-day EMA ($32.15) is begonnen te verschijnen, indicating an advantage to buyers.

DOT / USDT dagelijkse grafiek. Bron: TradingView

If bulls thrust the price above $38.77, it will invalidate the head and shoulders pattern. The failure of a bearish setup is a bullish sign as it may trap the aggressive bears who then try to cover their positions, resulting in a short-squeeze.

The DOT/USDT pair could then start its journey toward $49.78. alternatief, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, het paar zou kunnen dalen tot $28.60.

Een stuiter van deze ondersteuning zou het paar een paar dagen aan het bereik kunnen houden. The bears will have to pull the price below the neckline to signal their supremacy.

DOT / USDT 4-uurs grafiek. Bron: TradingView

Beide voortschrijdende gemiddelden lopen op en de RSI bevindt zich in het positieve gebied, suggesting that buyers are in control. The pair could drop to the 20-EMA, die waarschijnlijk zal fungeren als een sterke ondersteuning. If the price turns up from this support, the bulls will try to push the pair to $38.77.

This level may again act as a stiff resistance but if bulls do not give up much ground from it, the possibility of a break above it increases.

Omgekeerd, if bears pull the price below the 20-EMA, het paar zou kunnen dalen naar de 50-SMA. A break and close below this support could result in a decline to $31 en toen $29.

UNI / USDT

Uniswap (UNI) has been holding above the 20-day EMA (24.55) voor de afgelopen dagen, which shows that bulls are trying to defend this support. Echter, the bears are in no mood to relent as they have not allowed the price to rise above the neckline.

UNI / USDT dagelijkse grafiek. Bron: TradingView

The buyers will have to push and close the price above the neckline to complete an inverse H&S pattern. This bullish reversal setup has a pattern target at $36.98 but the rally may not be linear as bears will try to defend the level at $31.41.

The 20-day EMA is gradually rising and the RSI is just above the midpoint, suggesting that bulls have a slight edge. This advantage will be lost if the price breaks and closes below the 20-day EMA.

In zo'n geval, the UNI/USDT pair could drop to $22. This level may act as a support but if bears sink the price below it, the pair could extend the decline to $17.73.

UNI / USDT 4-uurs grafiek. Bron: TradingView

The 4-hour chart shows that the price has roughly been consolidating in a tight range between $24 en $26 al enige tijd. Meestal, such tight ranges result in the start of a directional move.

If buyers drive and sustain the price above $26, the possibility of a break above the neckline increases. That could start the march toward the next overhead resistance at $30 en dan naar $31.

Aan de andere kant, if the price breaks below $24, the short-term trend may turn in favor of bears. Het paar zou dan kunnen dalen tot $22.

Verwant: XRP price eyes $1.50 next after bouncing 30% in slechts 10 dagen

LINK / USDT

Kettingschakel (KOPPELING) broke above the downtrend line on Oct. 1, but the bulls have not been able to capitalize on this move. The altcoin has been stuck in a tight range between $25.20 en $26.19 voor de afgelopen dagen.

LINK / USDT dagelijkse grafiek. Bron: TradingView

Both moving averages are flat and the RSI has been trading just above the midpoint, suggereert een evenwicht tussen vraag en aanbod. This equilibrium will tilt in favor of buyers if the price breaks and closes above $28.19.

The LINK/USDT pair could then rally to $32.11 and later challenge the stiff overhead resistance at $35.33.

alternatief, a break and close below $25.20 could signal that supply exceeds demand. Het paar zou dan kunnen dalen naar de $22 naar $20.82 ondersteuningszone.

LINK/USDT 4-hour chart. Bron: TradingView

The price turned down from the overhead resistance and bears have pulled the price below the moving averages. If sellers sustain the lower levels, the pair could drop to the support at $25.20. A break below this level could signal that bears are back in command.

Omgekeerd, if the price turns up from the current level and rises back above the moving averages, it will suggest that traders are buying on dips. The bulls will have to push and sustain the price above $28.19 to signal that they are back in the driver’s seat. Daarna, het paar zou zich kunnen verzamelen $32.11.

XMR / USDT

Valuta (XMR) rose above the 50-day SMA ($271) op oktober. 5 and reached the downtrend line on Oct. 6. The bears are aggressively defending the downtrend line for the past few days but a minor positive is that bulls have not allowed the price to dip back below the 50-day SMA.

XMR / USDT dagelijkse grafiek. Bron: TradingView

De 20-daagse EMA ($263) is sloping up gradually and the RSI is in the positive zone, indicating a minor advantage to buyers. A break and close above the psychological mark at $300 could open the doors for an up-move to $325 en dan naar $339.70.

Integendeel, als de prijs daalt en onder de 20-daagse EMA valt, it will suggest that short-term traders may have dumped their positions. Dat zou de prijs naar beneden kunnen trekken $250 en later naar $225.

XMR / USDT 4-uurs grafiek. Bron: TradingView

The bulls have repeatedly pushed the price above the downtrend line but the bears have not allowed the pair to sustain above it. The 20-EMA has flattened out and the RSI is close to the center, suggereert een evenwicht tussen vraag en aanbod.

If the price breaks below the 50-SMA, the short-term bulls may rush to the exit. Dat zou de prijs naar beneden kunnen trekken $260 and next to $250.

Omgekeerd, if bulls push the price above $286.8, het paar zou kunnen stijgen $296.80. The bullish momentum may pick up if bulls thrust the price above this resistance.

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.