Bitcoin could pick up momentum above $56,100 and that could attract buying in DOT, UNI, ССЫЛКА, and XMR.
Биткойн (BTC) has continued to trade near the $55,000 уровень. The sharp rally in Bitcoin has pushed its market dominance from 40.70% сентябрь. 12 до 45% Cегодня. 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.
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? Если это произойдет, 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 октябрь. 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.
The moving averages have completed a bullish crossover and the relative strength index (RSI) находится рядом с зоной перекупленности, 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. Выше этого уровня, повторный тест рекордного максимума на $64,854 возможно.
Вопреки этому предположению, если медведи потянут цену ниже $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.
The bulls are facing selling in the $55,750 к $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.
Если это произойдет, пара может возобновить восходящий тренд. The first sign of weakness will be a break and close below the 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
В горошек (ТОЧКА) 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) начал появляться, indicating an advantage to buyers.
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. Альтернативно, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, пара могла упасть до $28.60.
Отскок от этой поддержки может удержать пару в ограниченном диапазоне в течение нескольких дней.. The bears will have to pull the price below the neckline to signal their supremacy.
Both moving averages are sloping up and the RSI is in the positive territory, suggesting that buyers are in control. The pair could drop to the 20-EMA, который может выступить в качестве сильной поддержки. 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.
Наоборот, if bears pull the price below the 20-EMA, пара может упасть до 50-SMA. A break and close below this support could result in a decline to $31 а потом $29.
UNI / USDT
Uniswap (UNI) has been holding above the 20-day EMA (24.55) за последние несколько дней, which shows that bulls are trying to defend this support. тем не мение, the bears are in no mood to relent as they have not allowed the price to rise above the neckline.
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.
В таком случае, 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.
The 4-hour chart shows that the price has roughly been consolidating in a tight range between $24 и $26 на некоторое время. Обычно, 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 а затем в $31.
С другой стороны, если цена упадет ниже $24, the short-term trend may turn in favor of bears. Затем пара может упасть до $22.
Связанный: XRP price eyes $1.50 next after bouncing 30% просто 10 дней
ССЫЛКА / USDT
Звено цепи (ССЫЛКА) 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 и $26.19 за последние несколько дней.
Both moving averages are flat and the RSI has been trading just above the midpoint, предлагая баланс между спросом и предложением. 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.
Альтернативно, a break and close below $25.20 could signal that supply exceeds demand. The pair could then drop to the $22 к $20.82 зона поддержки.
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.
Наоборот, 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. После этого, пара может подняться до $32.11.
XMR / USDT
валюта (XMR) rose above the 50-day SMA ($271) октябрь. 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.
20-дневная 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 а затем в $339.70.
Наоборот, if the price turns down and breaks below the 20-day EMA, it will suggest that short-term traders may have dumped their positions. Это может снизить цену до $250 а позже $225.
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, предлагая баланс между спросом и предложением.
If the price breaks below the 50-SMA, the short-term bulls may rush to the exit. Это может снизить цену до $260 and next to $250.
Наоборот, if bulls push the price above $286.8, пара могла подняться до $296.80. The bullish momentum may pick up if bulls thrust the price above this resistance.
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