The sentiment in the crypto markets can change quickly as seen from the Crypto Fear and Greed Index, which has risen from levels of extreme fear on Sept. 30 to neutral today. The sentiment may improve further if Bitcoin (BTC) breaks out and sustains above the psychologically critical level at $50,000.

One important event that may boost short-term sentiment is the U.S. Securities and Exchange Commission’s (SEC) decision on Bitcoin exchange-traded fund (ETF) toepassingen. Although the SEC extended the deadline of four Bitcoin ETF applications by 45 days on Oct. 1, Bloomberg’s senior ETF analyst Eric Balchunas is hopeful that a futures-backed Bitcoin ETF may receive the green signal by the middle of October.

Crypto-marktgegevens dagelijkse weergave. Bron: Coin360

Balchunas said the Bitcoin futures-based ETF applications, which have found support from SEC chair Garry Gensler, “are very much alive and likely on schedule (we denken 75% chance approved in Oct)."

If bulls build on the recent strength in Bitcoin and clear the hurdle at $50,000, several altcoins may pick up momentum. Laten we eens kijken naar de grafieken van de top-5 cryptocurrencies die op korte termijn mogelijk beter presteren.

BTC / USDT

Bitcoin broke above the 50-day simple moving average ($46,633) op oktober. 1 but the bears are attempting to stall the recovery near the resistance at $48,843.20. Echter, a positive sign is that bulls have not allowed the price to dip below the 50-day SMA.

BTC / USDT dagelijkse grafiek. Bron: TradingView

Het 20-dagen exponentieel voortschrijdend gemiddelde ($45,141) is opgedoken en de relatieve sterkte-index (RSI) bevindt zich in het positieve gebied, wijst op voordeel voor de stieren. If buyers push the price above $48,843.20, het BTC / USDT-paar zou zich kunnen verzamelen $52,920.

This level may again act as stiff resistance but if bulls bulldoze their way through, the head and shoulders pattern will be invalidated. That could result in a pick-up in momentum and the pair could rise to $60,000.

In tegenstelling tot deze veronderstelling, als de prijs lager is dan het huidige niveau en onder de voortschrijdende gemiddelden uitkomt, it will suggest that higher levels are attracting aggressive selling from the bears. The pair may then drop toward $40,000.

BTC / USDT 4-uurs grafiek. Bron: TradingView

Both moving averages on the 4-hour chart are sloping up and the RSI is near the overbought zone, aangeven dat de weg van de minste weerstand naar boven is. The price has been consolidating in a tight range between $47,000 en $48,495 al enige tijd.

If bulls thrust the price above $48,843, the pair could rise to the psychological mark at $50,000 and then challenge the stiff resistance at $52,920.

Omgekeerd, als de prijs daalt en onder de 20-EMA uitkomt, it will suggest that short-term traders are booking profits. Het paar zou dan kunnen dalen tot $45,000 and later to the 50-SMA.

MAAN / USDT

Terra protocol’s LUNA token broke above the downtrend line on Oct. 2 and bulls followed it up with a break above the all-time high at $45.01 vandaag. Echter, the long wick on today’s candlestick suggests that bears are attempting to defend the $45.01 agressief niveau.

LUNA / USDT dagelijkse grafiek. Bron: TradingView

If the price turns down from the current level but rebounds off the downtrend line, it will suggest that the sentiment remains positive and traders are buying on dips.

The bulls will then make one more attempt to push the price above the $45.01 naar $46.17 resistance zone and start the next leg of the uptrend. The psychological level at $50 may act as a resistance but if it is crossed, het LUNA/USDT-paar kan stijgen naar: $65.

Integendeel, als de prijs daalt en onder de 20-daagse EMA valt ($36.30), the next stop could be the 50-day SMA ($32.97). A break below this support will suggest that the bulls are losing their grip.

LUNA / USDT 4-uurs grafiek. Bron: TradingView

Although bulls pushed the price above $45.01, the long wick on the candlestick shows selling at higher levels. The bears are currently attempting to trap the aggressive bulls who may have gone long above $45.01.

De eerste ondersteuning aan de onderkant is de 20-EMA. A strong bounce off this support will suggest the sentiment remains positive. The bulls then try to propel the price above $46.17.

alternatief, a break below the 20-EMA could pull the price down to the 50-SMA. Als deze ondersteuning barst, the pullback may deepen to $33.

ATOM/USDT

Kosmos (ATOOM) successfully held the breakout level at $32.32 op sep. 29, which suggests that sentiment remains positive and bulls are buying on dips.

ATOM/USDT dagelijkse grafiek. Bron: TradingView

The bulls pushed the price above the 20-day EMA ($35.88) op sept. 30 but the momentum has failed to pick up. This suggests that bears have not thrown in the towel yet and are selling on rallies. The bulls will have to thrust and sustain the price above $44.80 to signal the resumption of the uptrend.

The long wick on today’s candlestick suggests selling at higher levels. Als de prijs lager wordt dan het huidige niveau en onder de 20-daagse EMA uitkomt, the bears will make one more attempt to sink the price below $32.32. Als ze slagen, the ATOM/USDT pair could drop to the 50-day SMA ($28.54).

ATOM / USDT 4-uurs grafiek. Bron: TradingView

The pair turned down from the resistance line of the symmetrical triangle, indicating that bears are defending this level aggressively. Als de prijs terugkaatst van de voortschrijdende gemiddelden, the bulls will make one more attempt to push the price above the triangle.

Als ze slagen, het paar zou zich kunnen verzamelen $44.80 and then to the psychological level at $50. A break and close above this level could open the doors for an up-move toward the pattern target at $57.61.

Integendeel, if the price slips below the moving averages, the next stop could be the support line. If this level cracks, het paar zou kunnen dalen tot $28.83 en dan naar $24.50.

Verwant: Ethereum fractal from 2017 that resulted in 7,000% gains for ETH appears again in 2021

XTZ / USDT

Tezos (XTZ) rebounded off the 50-day SMA ($5.50) op sept. 29 and the momentum picked up after the bulls pushed the price above the 20-day EMA ($6.40) op sept. 30.

XTZ / USDT dagelijkse grafiek. Bron: TradingView

Sustained buying pushed the price above the overhead resistance zone at $8.03 naar $8.42. Beide voortschrijdende gemiddelden lopen op en de RSI bevindt zich in de buurt van het overboughtgebied, wat aangeeft dat stieren de touwtjes in handen hebben.

Als stieren de bovenstaande prijs ondersteunen? $8.42, het suggereert het begin van een nieuwe uptrend. In tegenstelling tot deze veronderstelling, if bears pull and sustain the price below $8.03, het zal winstboeking op hogere niveaus voorstellen. The XTZ/USDT pair could then drop to the 20-day EMA.

XTZ / USDT 4-uurs grafiek. Bron: TradingView

The 4-hour chart shows the formation of a symmetrical triangle pattern, dat meestal als een vervolgpatroon fungeert. The bulls pushed the price above the triangle and successfully held the breakout level, indicating the start of an up-move.

Deze opstelling heeft een patroondoel op $11.33. The rising 20-EMA and the RSI in the overbought zone suggest that bulls have an edge.

The first sign of weakness will be a close below $8.03. That could open the doors for a retest of the 20-EMA. A strong rebound off this level will suggest that the sentiment remains positive and traders are buying on dips. Omgekeerd, a break below the 20-EMA could pull the price down to $7 en later naar $6.50.

AXS/USDT

Axie Oneindigheid (AXS) soared above the previous all-time high at $94.67 op oktober. 1, which suggests the resumption of the uptrend. A coin hitting a new all-time high is a positive sign as it shows strong demand from traders.

AXS/USDT daily chart. Bron: TradingView

The AXS/USDT pair has been facing resistance near $120.57 but the positive sign is that bulls have not given up much ground. This shows that traders are not hurrying to book profits after the recent rally and are buying the dips.

De 20-daagse EMA ($77) has started to turn up and the RSI is in the overbought zone, wat aangeeft dat stieren de overhand hebben. If buyers drive the price above $120.57, the pair could start its northward march toward $150 en toen $165.58.

In tegenstelling tot deze veronderstelling, if bears pull the price below the breakout level at $94.67, it may result in aggressive profit-booking by traders and the pair may then drop to the 20-day EMA.

AXS/USDT 4-uurgrafiek. Bron: TradingView

The pair has rebounded off $103.22 and the bulls are currently attempting to push the price above the overhead resistance at $110.50. The upsloping moving averages and the RSI in the overbought zone indicate the path of least resistance is to the upside.

If buyers push the price above $110.50, the pair could retest the critical resistance at $120.57. A break and close above this level could signal the resumption of the uptrend.

Aan de andere kant, als de prijs lager wordt dan de overheadweerstand, the pair may consolidate for some time before starting the next directional move. Het eerste teken van zwakte is een pauze en sluit onder de 20-EMA. Such a move will suggest that the bullish momentum has weakened and supply exceeds demand.

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