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.

тем не мение, 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.

Ежедневный просмотр данных крипторынка. Источник: Монета360

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).

Дневной график BTC / USDT. Источник: TradingView

The downsloping 20-day EMA and the relative strength index (RSI) in the negative zone suggest that bears have the upper hand. Если цена отклоняется от 20-дневной EMA, the possibility of a break below the 100-day SMA will increase.

Such a move will complete the bearish head and shoulders pattern, который имеет целевую цель $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-часовой график. Источник: 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.

Если они могут это сделать, the pair could climb to $49,000. Наоборот, если цена развернется вниз от текущего уровня, the bears will try to pull the price below the critical support zone at $41,000 к $39,600. A violation of this zone may indicate the start of a downtrend.

AVAX / USDT

Лавина (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).

Дневной график AVAX / USDT. Источник: 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.

Наоборот, 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).

4-часовой график AVAX / USDT. Источник: TradingView

The pair has bounced off the 100-SMA and the bulls are attempting to sustain the price above the 20-EMA. Если им удастся это сделать, the pair could start its northward march to $79.80 где медведи могут снова оказать жесткое сопротивление.

С обратной стороны, 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. Если цена упадет ниже $60.04, спад может распространиться на $55.

ALGO/USDT

Альгоранд (ЧТО-НИБУДЬ) 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. Источник: TradingView

If bulls drive and sustain the price above the downtrend line, it will suggest that the short-term correction could be over. The ALGO/USDT pair could then rise to $2.15 а затем в $2.55.

Альтернативно, если цена снизится с $1.84, пара может снова упасть на $1.51. Если быки защищают эту поддержку, пара может оставаться в пределах диапазона между $1.84 и $1.51 на несколько дней.

Прорыв и закрытие внизу $1.51 сигнализирует о возможном изменении тренда. The pair could then slide to the next support at $1.15.

ALGO/USDT 4-hour chart. Источник: 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.

If the price turns down from the overhead resistance, 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.

Связанный: Данные по производным финансовым инструментам показывают, что Солана достигла краткосрочной вершины.

XTZ / USDT

Тезос (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) в сентябре. 23 and have held the level since then.

Дневной график XTZ / USDT. Источник: TradingView

Скользящие средние наклонены вверх, а RSI находится на положительной территории., suggesting that bulls have the upper hand. The buyers are likely to challenge the overhead resistance zone at $8.03 к $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.

Вопреки этому предположению, если цена поворачивает вниз от текущего уровня или верхнего сопротивления и пробивает 20-дневную EMA, пара могла упасть до $4.47.

XTZ / USDT 4-часовой график. Источник: 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, пара может вырасти до $8.03 где медведи, вероятно, окажут жесткое сопротивление. If bulls do not give up much ground from this resistance, the possibility of a break above it will increase.

This bullish view will invalidate if the price turns down and breaks below the moving averages. Such a move could result in a drop to $5.50 а потом $4.47.

EGLD/USDT

Элронд (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. Источник: TradingView

20-дневная EMA ($220) has flattened out and the RSI is just above the midpoint, указание баланса между спросом и предложением.

The buyers are attempting to sustain the EGLD/USDT pair above the 20-day EMA. Если им удастся это сделать, the bulls will again try to push the pair above $245.80. Если им удастся это сделать, пара может подняться до $303.03.

Наоборот, 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. Источник: 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. Если им это удастся, the pair may resume its up-move and rally to $277.88 а затем в $303.03.

Вопреки этому предположению, если цена отклоняется от линии нисходящего тренда, 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.

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