Bitcoin could pick up momentum above $56,100 and that could attract buying in DOT, UNI, LIÊN KẾT, and XMR.
Bitcoin (BTC) has continued to trade near the $55,000 cấp độ. The sharp rally in Bitcoin has pushed its market dominance from 40.70% vào tháng 9. 12 về 45% hôm nay. 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? Nếu điều đó xảy ra, 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 vào tháng 10. 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) gần vùng mua quá mức, 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. Above this level, kiểm tra lại mức cao nhất mọi thời đại ở $64,854 có khả năng.
Trái ngược với giả định này, nếu gấu kéo giá xuống dưới $52,920, cặp tiền có thể giảm xuống mức trung bình động hàm mũ 20 ngày ($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 đến $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.
Nếu điều đó xảy ra, cặp đôi này có thể tiếp tục xu hướng tăng của nó. 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
Polkadot (DOT) 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) has started to turn up, 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. Ngoài ra, if the price turns down from the current level or the overhead resistance and breaks below the moving averages, cặp có thể giảm xuống $28.60.
Việc thoát khỏi ngưỡng hỗ trợ này có thể giữ cho phạm vi cặp tiền bị giới hạn trong một vài ngày. 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, có khả năng hoạt động như một hỗ trợ mạnh mẽ. 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.
Ngược lại, if bears pull the price below the 20-EMA, cặp này có thể giảm xuống 50-SMA. A break and close below this support could result in a decline to $31 và sau đó $29.
UNI / USDT
Uniswap (UNI) has been holding above the 20-day EMA (24.55) trong vài ngày qua, which shows that bulls are trying to defend this support. Tuy nhiên, 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.
Trong trường hợp như vậy, 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 và $26 trong một thời gian. Thông thường, 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 và sau đó đến $31.
Mặt khác, nếu giá phá vỡ dưới đây $24, the short-term trend may turn in favor of bears. Sau đó, cặp này có thể giảm xuống $22.
Có liên quan: XRP price eyes $1.50 next after bouncing 30% chỉ trong 10 ngày
LINK / USDT
Chuỗi liên kết (LIÊN KẾT) 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 và $26.19 trong vài ngày qua.
Both moving averages are flat and the RSI has been trading just above the midpoint, suggesting a balance between supply and demand. 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.
Ngoài ra, a break and close below $25.20 could signal that supply exceeds demand. The pair could then drop to the $22 đến $20.82 vùng hỗ trợ.
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.
Ngược lại, 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. Sau đó, cặp đôi có thể tập hợp để $32.11.
XMR / USDT
Tiền tệ (XMR) rose above the 50-day SMA ($271) vào tháng 10. 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.
EMA 20 ngày ($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 và sau đó đến $339.70.
Ngược lại, if the price turns down and breaks below the 20-day EMA, it will suggest that short-term traders may have dumped their positions. Điều đó có thể kéo giá xuống $250 và sau đó đến $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, suggesting a balance between supply and demand.
If the price breaks below the 50-SMA, the short-term bulls may rush to the exit. Điều đó có thể kéo giá xuống $260 and next to $250.
Ngược lại, if bulls push the price above $286.8, cặp đôi có thể tăng lên $296.80. The bullish momentum may pick up if bulls thrust the price above this resistance.
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