Litecoin (LTC) Flashing Bullish Signal Amid Rising Address Activity: Crypto Analytics Firm Santiment

January 6, 2024 The Daily Hodl

Analyst Says He’s ‘Extremely Bullish’ on Top-20 Ethereum-Based Altcoin in Coming Months – But There’s a Catch

October 5, 2023 The Daily Hodl

Will Bitcoin ‘Uptober’ bring gains for MKR, AAVE, RUNE and INJ?

October 1, 2023 Coin Telegraph

Aave

Bitcoin tends to rally in October, possibly opening the door for MKR, AAVE, RUNE, INJ and other altcoins.

After rising about 80% in the first two quarters of 2023, Bitcoin (BTC) fell roughly 11% in the third quarter ending September. However, there is a silver lining for the bulls because they managed a positive monthly close in September, the first since 2016.

Buyers will try to build upon this momentum in October, which has a bullish track record. According to CoinGlass data, only 2014 and 2018 have produced negative monthly returns since 2013 in October. There is no guarantee that history will repeat itself but the data can be used as a good starting point to formulate strategies by traders.

*Crypto market data daily view. Source:* *Coin360*

The recent strength in Bitcoin has also boosted interest in altcoins. Select altcoins are trying to break above their respective overhead resistance levels, indicating the start of a robust recovery. The bullish momentum could pick up further if Bitcoin extends its relief rally to $28,000.

Not all altcoins are expected to blast off to the upside. The cryptocurrencies that are showing strength are the ones that may lead the recovery higher. Let’s study the charts of the top-5 cryptocurrencies that could outperform in the near term.

Bitcoin price analysis

Bitcoin has been trading above the moving averages since Sep. 28, which is a positive sign. This shows that the advantage is gradually tilting in favor of the buyers.

*BTC/USDT daily chart. Source:* *TradingView*

The bears are trying to stall the rally near $27,500 but the bulls have not given up much ground. This shows that every minor dip is being purchased. This increases the odds of a break above $27,500. The BTC/USDT pair could then retest the crucial overhead resistance at $28,143. This level may again attract aggressive selling by the bears.

If the price turns down sharply from $28,143, the pair could retest the 20-day exponential moving average ($26,630). A strong bounce off this level could kick the price above $28,143. The pair may subsequently climb to $30,000.

This bullish view will be negated in the near term if the price turns down and dives below the solid support at $26,000.

*BTC/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the pair is taking support at the 20-EMA. This indicates that the bulls are trying to take charge. However, the bears are unlikely to give up easily and they will try to halt the recovery in the zone between $27,300 and $27,500. The sellers will then have to yank the price below the 20-EMA to seize control.

Conversely, if bulls pierce the overhead resistance at $27,500, it will pave the way for a possible rally to $28,143. This level may witness a tough battle between the buyers and sellers.

Maker price analysis

Maker (MKR) broke and closed above $1,370 on Sep. 26, indicating the start of a new uptrend. When an asset is in an uptrend, traders tend to buy on dips.

MKR/USDT daily chart. Source: TradingView

The bears tried to stall the up-move at $1,600 but the bulls purchased the dip at $1,432. This indicates that the sentiment remains positive and lower levels are being bought. If bulls propel the price above $1,600, the MKR/USDT pair could rally to $1,760 and then sprint to $1,909.

Contrary to this assumption, if the price turns down sharply and skids below $1,432, it could make room for a retest of the breakout level at $1,370. The bears will have to yank the price below this support to indicate that the uptrend may be over.

MKR/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the bears are fiercely protecting the overhead resistance at $1,600. If bulls want to keep their chances of continuing the uptrend alive, they will have to buy the dips to the 20-EMA.

If the price snaps back from the 20-EMA, the buyers will once again try to overcome the obstacle at $1,600 and start the next leg of the uptrend. Alternatively, a collapse to $1,432 and then to the 50-simple moving average may begin if the pair drops below the 20-EMA.

Aave price analysis

Aave (AAVE) is trying to break above the long-term downtrend line, indicating a potential trend change. The rebound off the 20-day EMA ($62.42) on Sep. 28 indicates a change in sentiment from selling on rallies to buying on dips.

AAVE/USDT daily chart. Source: TradingView

The bears will try to stall the recovery at the downtrend line but if bulls do not allow the price to slip back below the 20-day EMA, it will increase the likelihood of a break above it. The AAVE/USDT pair could thereafter start an up-move toward $88.

The 20-day EMA is the important support to watch on the downside. If this level cracks, it will suggest that bears remain active at higher levels. That could pull the price down to the 50-day SMA ($58.82).

AAVE/USDT 4-hour chart. Source: TradingView

Both the upsloping 20-EMA and the relative strength index (RSI) near the overbought zone indicate that the bulls are in command. The rally may face selling at the downtrend line but the bulls will try to arrest the decline at the 20-EMA.

A strong rebound off the 20-EMA will open the doors for a possible rise above the downtrend line. The pair may first rally to $75 and next to $80. The bears will have to sink and sustain the price below the 20-EMA to break the tempo.

THORChain price analysis

THORChain (RUNE) has reached the overhead resistance at $2 for the third time within the past few days. The repeated retest of a resistance level tends to weaken it.

*RUNE/USDT daily chart. Source: TradingView*

If bulls do not give up much ground from the current level, it will improve the prospects of a rally above $2. If that happens, the RUNE/USDT pair could first rise to $2.28 and subsequently to $2.78.

This positive view will be invalidated in the near term if the price turns down and plunges below the moving averages. Such a move will suggest that the bulls have given up and the pair may then drop to $1.37.

RUNE/USDT 4-hour chart. Source: TradingView

The 4-hour chart shows that the bears are selling near the overhead resistance at $2 but a positive sign is that the bulls have not allowed the price to skid and sustain below the 20-EMA. This suggests that lower levels are attracting buyers.

If bulls push and maintain the price above $2, it will signal the start of a new uptrend. The pair could then surge toward $2.35. On the contrary, if the price turns down and breaks below the 20-EMA, it will indicate the start of a deeper correction to the 50-SMA.

Injective price analysis

Injective (INJ) has been swinging inside a large range between $5.40 and $10 for the past several days. The price action inside a range can be random and volatile but when the boundaries are far apart, trading opportunities may arise.

INJ/USDT daily chart. Source: TradingView

The moving averages have completed a bullish crossover and the RSI is in positive territory, indicating that bulls have the upper hand. The INJ/USDT pair could first rise to $8.28 where the bears may mount a strong resistance. If bulls overcome this barrier, the pair could pick up momentum and soar toward $10.

If bears want to prevent the upside, they will have to defend the overhead resistance and quickly drag the price below the moving averages. The pair could then retest the immediate support at $6.36.

INJ/USDT 4-hour chart. Source: TradingView

Both moving averages are sloping up on the 4-hour chart and the RSI is in the overbought territory, suggesting that the bulls have a slight edge. The rally could reach $8.28 which is likely to act as a strong hurdle.

On the downside, the first support is at the 20-EMA. A bounce off this level will indicate that the uptrend remains intact. Contrarily, a break below the 20-EMA will signal that the bulls are booking profits. That may pull the price down to the 50-SMA.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Top-35 Altcoin Ignores Crypto Market Doldrums and Surges by Nearly 45% in the Past Month Amid Spike in Activity

September 30, 2023 The Daily Hodl

Bitcoin Could Erupt Once This Surging Asset ‘Settles Down’, According to Crypto Analytics Firm Santiment

September 29, 2023 The Daily Hodl

Crypto traders shift focus to these 4 altcoins as Bitcoin price flatlines

September 24, 2023 Coin Telegraph

ARB

Bitcoin’s tight range trading points to a potential range expansion and that could trigger a trending move in LINK, MKR, ARB, and THETA.

Bitcoin (BTC) has been trading in a tight range for the past three days even as the S&P 500 fell for the last four days of the week. This is a positive sign as it shows that cryptocurrency traders are not panicking and rushing to the exit.

Bitcoin’s supply seems to be gradually shifting to stronger hands. Analyst CryptoCon said citing Glassnode data that Bitcoin’s short-term holders (STHs), investors who have held their coins for 155 days or less, hold the least amount of Bitcoin supply in more than a decade.

In the short term, the uncertainty regarding Bitcoin’s next directional move may have kept traders at bay. That could be one of the reasons for the subdued price action in several large altcoins. But it is not all negative across the board. Several altcoins are showing signs of a recovery in the near term.

Could Bitcoin shake out its slumber and start a bullish move in the near term? Can that act as a catalyst for an altcoin rally? Let’s study the charts of the top-five cryptocurrencies that may lead the charge higher.

Bitcoin price analysis

The bulls have managed to sustain the price above the 20-day exponential moving average ($26,523) but they have failed to start a strong rebound. This indicates a lack of demand at higher levels.

The flattish 20-day EMA and the relative strength index (RSI) near the midpoint show a status of equilibrium between the buyers and sellers. A break below the 20-day EMA will tilt the advantage in favor of the bears. The BTC/USDT pair could then descend to the formidable support at $24,800.

Alternatively, if the price rises from the current level and climbs above the 50-day simple moving average ($26,948), it will signal that buyers are back in the driver's seat. The pair may then attempt a rally to the overhead resistance at $28,143.

BTC has been trading below the moving averages on the 4-hour chart but the bears have failed to start a downward move. This suggests that selling dries up at lower levels. The bulls will try to propel Bitcoin price above the moving averages. If they manage to do that, the pair could rally to $27,400 and subsequently to $28,143.

If bears want to seize control, they will have to sink and sustain BTC price below $26,200. That could first yank it down to $25,750 and then to the $24,800-support.

Chainlink price analysis

Chainlink (LINK) surged above the downtrend line on Sep. 22, indicating a potential trend change in the near term.

*LINK/USDT daily chart. Source: TradingView*

The moving averages have completed a bullish crossover and the RSI is in positive territory, indicating that the buyers have the upper hand. On any correction, the bulls are likely to buy the dips to the 20-day EMA ($6.55). A strong rebound off this level will suggest a change in sentiment from selling on rallies to buying on dips.

The bulls will then try to extend the up-move to $8 and eventually to $8.50. If bears want to prevent the up-move, they will have to sink and sustain the LINK/USDT pair below the 20-day EMA.

*LINK/USDT 4-hour chart. Source:* *TradingView*

Both moving averages are sloping up on the 4-hour chart and the RSI is in the positive zone. The bulls have been buying the dips to the 20-EMA indicating a positive sentiment. If LINK price rebounds off the 20-EMA, $7.60 will then be the upside target to watch.

Contrary to this assumption, if Chainlink's price continues lower and skids below the 20-EMA, it will signal profit-booking by the bulls. LINK may then retest the breakout level from the downtrend line. The bears will have to sink it below $6.60 to be back in control.

Maker price analysis

Maker (MKR) turned down from the overhead resistance at $1,370 on Sep. 21, indicating that the bears are trying to defend the level.

The 20-day EMA ($1,226) is the support to watch for on the downside. If the price rebounds off this level, it will suggest that lower levels continue to attract buyers. The bulls will then make one more attempt to drive MK price above the overhead resistance. If they can pull it off, the MKR/USDT pair could accelerate toward $1,759.

Conversely, if the bears sink the price below the 20-day EMA, it will suggest that the bullish momentum has weakened. That could keep the pair range-bound between $980 and $1,370 for a few days.

The moving averages on the 4-hour chart have flattened out and the RSI is just below the midpoint, indicating a balance between supply and demand. If buyers shove the price above $1,306, MKR pric could sprint toward $1,370.

Instead, if the price turns down and breaks below $1,264, it will suggest that the selling pressure is increasing. That could clear the path for a further decline to $1,225. A slide below this support may tilt the short-term advantage in favor of the bears.

Arbitrum price analysis

Arbitrum (ARB) is in a downtrend. The bears are selling on rallies to the 20-day EMA ($0.85) but a positive sign is that the bulls have not ceded much ground. This suggests that the bulls are trying to hold on to their positions as they anticipate a move higher.

*ARB/USDT daily chart. Source: TradingView*

The RSI has risen above 40, indicating that the momentum is gradually turning positive. If buyers kick the price above the 20-day EMA, it will suggest the start of a sustained recovery. The ARB/USDT pair could first rally to the 50-day SMA ($0.95) and thereafter to $1.04.

The support on the downside is $0.80 and then $0.78. Sellers will have to drag ARB price below this zone to make room for a retest of the support near $0.74. A break below this level will indicate the resumption of the downtrend.

*ARB/USDT 4-hour chart. Source:* *TradingView*

The 4-hour chart shows that the bears are selling the rallies to the downtrend line. The bears pulled the price below the moving averages but could not sink ARB pric below the immediate support at $0.81. This suggests that the bulls are trying to form a higher low.

Buyers will again try to propel the price above the downtrend line. If they succeed, Arbitrum price is likely to start a strong recovery toward the psychological level of $1. Contrarily, a break below $0.81 can tug ARB price to $0.78 and subsequently to $0.74.

Theta Network price analysis

Theta Network (THETA) soared above the 20-day EMA ($0.61) on Sep. 23, indicating that the bulls have absorbed the supply and are attempting a comeback.

*THETA/USDT daily chart. Source:* *TradingView*

The bears have pulled the price back below the 50-day SMA ($0.64) but the bulls are expected to defend the 20-day EMA. If THETA price turns up from the current level and climbs above the 50-day SMA, it will enhance the prospects of a retest of $0.70.

This is an important level to keep an eye on because if it is scaled, the THETA/USDT pair may reach $0.76. This positive view will invalidate in the near term if the price turns down and plunges below the 20-day EMA. That opens the door for a potential retest of $0.57.

*THETA/USDT 4-hour chart. Source:* *TradingView*

The 4-hour chart shows that the bears are protecting the overhead resistance at $0.65. If buyers want to sustain the bullish momentum, they will have to drive THETA price above $0.65. If they do that, the pair is likely to start a new up-move toward $0.70.

The 20-day EMA is the important support to watch for on the downside. If bears sink the price below this support, it will indicate that the bulls are closing their positions. The pair may then descend toward the support at $0.58.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin price holds $26K as MKR, AAVE, RUNE and RNDR flash bullish signals

September 17, 2023 Coin Telegraph

Aave

Bitcoin looks ready to start a relief rally and this could trigger interest in MKR, AAVE, RUNE and RNDR.

After forming successive Doji candlestick patterns on the weekly chart for the past three weeks, Bitcoin (BTC) is on target to end the week on a positive note. This is an early sign that the uncertainty between the bulls and the bears is resolving to the upside.

Although the recovery is still in its early stages, the Federal Open Market Committee meeting on Sep. 20 could boost volatility. The majority of the market participants expect the Federal Reserve to maintain a status quo on rates but surprises could arise during Fed Chair Jerome Powell’s press conference following the rate decision.

Bitcoin’s recovery from the strong support near $24,800 has ignited buying interest in select altcoins, which are providing trading opportunities. For these altcoins to continue their upward trajectory, Bitcoin needs to maintain above $26,500.

Could Bitcoin’s relief rally pick up momentum, triggering buying in select altcoins? Let’s study the charts of top-5 cryptocurrencies that are showing promise in the near term.

Bitcoin price analysis

Bitcoin rose above the 20-day exponential moving average ($26,303) on Sep. 14, indicating that the selling pressure is reducing. Since then, the bulls thwarted several attempts by the bears to yank the price back below the 20-day EMA.

Buyers will try to build upon their advantage and drive the BTC/USDT pair to the 50-day simple moving average ($27,295). This level may act as a minor hurdle but if overcome, the pair is likely to reach $28,143. The bears are expected to defend this level with vigor.

If bears want to maintain the upper hand, they will have to sink the price below the 20-day EMA. That may trap the aggressive bulls and open the doors for a potential retest of the pivotal support at $24,800.

The price has been trading above the 20-EMA on the 4-hour chart indicating that the bulls are buying on dips. This suggests that the traders expect the recovery to continue. If buyers clear the hurdle at $26,900, the pair may climb to $27,600 and eventually to $28,143.

If bears want to make a comeback, they will have to sink and sustain the price below the 20-EMA. Such a move will clear the path for a further fall to the 50-SMA and later to the strong support zone between $25,600 and $25,300.

Maker price analysis

Buyers propelled Maker (MKR) above the 50-day SMA ($1,162) on Sep. 15, indicating that the bulls are attempting to take charge.

The MKR/USDT pair is on its way to $1,370. This level is likely to witness a tough battle between the bulls and the bears. If the bulls do not give up much ground from this level, the likelihood of a break above it increases. If that happens, the pair could pick up momentum and dash toward $1,759.

The crucial level to watch on the downside is the 20-day EMA ($1,162). If this level cracks, it will suggest that the pair may swing inside the large range between $980 and $1,370 for some time.

The 4-hour chart shows that the bulls remain in command but the RSI near the overbought territory suggests a minor correction or consolidation in the near term. The 20-EMA remains the key level to watch on the downside. A break and close below it could indicate the start of a deeper correction toward the 50-SMA.

Instead, if the price bounces off the 20-EMA, it will be a sign that the bulls continue to buy the dips. That may start a rally toward the stiff overhead resistance at $1,370.

Aave price analysis

Aave (AAVE) surged above the moving averages on Sep. 16, indicating that the bulls have made their move. However, the long wick on the day’s candlestick shows selling at higher levels.

A minor advantage in favor of the bulls is that they did not allow the bears to make a comeback and are again trying to sustain the price above the 50-day SMA ($59). If they succeed, the AAVE/USDT pair is likely to accelerate toward $70 and later to $76.

The 20-day EMA ($56) is the important support to keep an eye on in the near term. If the price skids below this level, it will suggest that bears are active at higher levels. That could sink the pair to the solid support at $48.

The 4-hour chart shows that the bulls recently purchased the pullback to the 20-EMA, indicating that the sentiment has turned positive. Buyers will try to propel the price above the resistance at $63. If they can pull it off, the pair could soar to $70.

Contrary to this assumption, if the price turns down and breaks below the 20-EMA, it will suggest that demand dries up at higher levels. The pair could then slide to the 50-SMA which may attract buyers.

THORChain price analysis

THORChain (RUNE) has staged a smart recovery in the past few days, indicating that the buyers are attempting a comeback.

The up-move is nearing the solid resistance at $2, which is likely to act as a major roadblock. If the price turns down sharply from $2, it will indicate that the bulls are rushing to the exit. That could tug the price down to the 20-day EMA ($1.62).

Contrarily, if the RUNE/USDT pair does not give up much ground from the current level, it will suggest that the bulls are holding on to their positions as they anticipate the rally to extend further. If $2 is taken out, the pair could start a new uptrend to $2.30 and subsequently to $2.80.

The 4-hour chart shows that the $2 level is acting as a resistance. The price may pull back to the 20-EMA, which is likely to act as a strong support. If the price rebounds off this level with strength, the bulls will again attempt to overcome the obstacle at $2. If they manage to do that, the pair may soar toward $2.30.

The first sign of weakness will be a break and close below the 20-EMA. That could tempt several short-term traders to book profits. The pair may then slump to the 50-SMA.

Render price analysis

Render (RNDR) broke out and closed above the 50-day SMA ($1.58) on Sep. 15, indicating that the selling pressure could be reducing.

*RNDR/USDT daily chart. Source:* *TradingView*

The moving averages are on the verge of a bullish crossover and the RSI is in the positive territory indicating that bulls have a slight edge. If the price turns up from the 20-day EMA ($1.50), it will suggest a change in sentiment from selling on rallies to buying on dips. That could start a stronger recovery to $1.83 and then to $2.20.

This positive view could invalidate in the near term if the price continues lower and breaks below the moving averages. The RNDR/USDT pair could then plummet to $1.38 and later to $1.29.

*RNDR/USDT 4-hour chart. Source: TradingView*

The moving averages on the 4-hour chart are sloping up and the RSI is in the positive territory, indicating advantage to buyers. The first support to watch on the downside is the 20-EMA. If the price turns up from this level, it will signal that bulls continue to view the dips as a buying opportunity. That increases the possibility of a rally to $1.77.

On the contrary, if the 20-EMA gives way, the pair could slide to the 50-SMA. This is an important level for the bulls to defend because a break below it may sink the pair to $1.39.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

TON, XLM, XMR, and MKR could attract buyers if Bitcoin rises above $26,500

September 10, 2023 Coin Telegraph

Bitcoin

Bitcoin price has flatlined, but TON, XLM, XMR and MKR are showing signs of bullish momentum.

Bitcoin (BTC) traded in a narrow range this week and is on target to form the third consecutive Doji candlestick pattern on the weekly chart. The cryptocurrency markets did not receive any support from the United States equities markets, which ended the week on a negative note. The S&P 500 Index dropped 1.3% while the Nasdaq closed down 1.9%.

Bitcoin’s weakness has dragged several altcoins lower, with many testing multi-week lows. This indicates that the broader crypto market is in a firm bear grip. Negative markets make it difficult for buyers to identify short-term bullish trades as rallies hardly sustain. However, it could be a good time for long-term investors to build a portfolio.

According to a recent Amberdata report, 24% of asset management firms are appointing senior executives dedicated to the implementation of digital strategies. Down the line, 13% more firms plan to adopt a digital assets strategy. This indicates “seriousness about implementation as well as senior management buy-in,” the report added.

Could Bitcoin break out to the upside, boosting buying interest in altcoins? Let’s study the charts of top-5 cryptocurrencies that are showing promise in the near term.

Bitcoin price analysis

Bitcoin has been trading near the $26,000 level for the past few days, indicating a tussle between the bulls and the bears.

The downsloping moving averages indicate advantage to bears but the positive divergence on the relative strength index suggests that the selling pressure is reducing. The indicators are not giving a clear advantage either to the bulls or the bears.

Therefore, it is better to wait for the price to either sustain above $26,500 or dive below $24,800 before placing large bets.

If bulls overcome the obstacle at $26,500, the BTC/USDT pair could soar to the overhead resistance at $28,143. On the other hand, a fall below $24,800 could clear the path for a collapse to $20,000.

The price has been trading near the moving averages on the 4-hour chart, indicating a lack of interest from both the bulls and the bears. This tight-range trading is unlikely to continue for long and may lead to a range expansion within the next few days.

On the upside, a rally above $26,500 will indicate that the advantage has tilted in favor of the buyers. That may start an up-move to $27,600 and eventually to $28,143.

Alternatively, if the price breaks below $25,300, the selling could pick up and the pair may retest the Aug. 17 intraday low of $25,166.

Toncoin price analysis

Toncoin (TON) has pulled back to the 20-day exponential moving average ($1.69). In an uptrend, a correction to the 20-day EMA usually offers a low-risk entry opportunity.

*TON/USDT daily chart. Source:* *TradingView*

The 20-day EMA is likely to act as a strong support. If the price snaps back from the 20-day EMA, it will indicate that the sentiment has turned positive and traders are buying on dips. The TON/USDT pair could first rise to $1.89 and thereafter attempt a rally to $2.07.

Instead, if the price continues lower and plummets below the 20-day EMA, it will suggest that the bulls are bailing out of their positions. That could open the doors for a possible drop to $1.53 and next to the 50-day simple moving average ($1.45).

*TON/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the bears are trying to sink the price below the immediate support at $1.72 but the bulls have held their ground. The downsloping 20-EMA and the RSI in the negative territory increases the risk of a downside breakdown.

If the $1.72 support cracks, the pair could skid to $1.66 and later nosedive to the strong support at $1.53. Contrarily, if bulls propel the price above the moving averages, it will suggest the start of a stronger recovery to $1.90 and subsequently to $2.

Stellar price analysis

Stellar (XLM) has staged a smart recovery in the past few days, indicating that the buyers are attempting a comeback.

*XLM/USDT daily chart. Source:* *TradingView*

The XLM/USDT pair broke above the 20-day EMA ($0.12) on Sep. 4 and the bulls thwarted attempts by the bears to yank the price back below it on Sep. 5 and 6. This suggests that the bulls are trying to flip the 20-day EMA into support.

The price has reached the 50-day SMA ($0.13), which is behaving as a roadblock. A minor positive in favor of the buyers is that they have not given up much ground. This suggests that the bulls are not rushing to the exit. If the price breaks above the 50-day SMA, the pair could soar to $0.15 and later to $0.17.

This bullish view will invalidate in the near term if the price turns down and plunges below the 20-day EMA.

*XLM/USDT 4-hour chart. Source: TradingView*

The bears are trying to halt the recovery at the overhead resistance at $0.13 but the bulls have not given up much ground. The rebound off the 20-EMA shows that lower levels continue to attract buyers. If the price maintains above the overhead resistance, the pair could start an up-move to $0.15.

If bears want to prevent the up-move, they will have to quickly drag the price below the 20-EMA. That could accelerate selling and tug the price to the 50-SMA.

Monero price analysis

Monero (XMR) has held the uptrend line support for the past few days, indicating buying at lower levels. The price has reached the 20-day EMA ($143), which is an important level to keep an eye on.

*XMR/USDT daily chart. Source:* *TradingView*

If bulls drive the price above the 20-day EMA, it will suggest the start of a sustained recovery. The XMR/USDT pair could then climb to the 50-day SMA ($151), where the bears may again mount a strong defense. If this obstacle is cleared, the pair could surge to $160.

The bears are likely to have other plans. They will try to protect the 20-day EMA and pull the price below the uptrend line. If they manage to do that, several stops may be hit. That could sink the pair to $130.

*XMR/USDT 4-hour chart. Source: TradingView*

The price action on the 4-hour chart shows the formation of a symmetrical triangle pattern. The flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears.

If the price slips below the 50-SMA, the bears will try to pull the pair to the support line of the triangle. Contrarily, if the price rises above the 20-EMA, the pair could reach the resistance line. A break above or below the triangle could signal the start of a trending move.

Maker price analysis

Maker (MKR) has been stuck between the moving averages, indicating indecision among the bulls and the bears. A minor positive in favor of the bulls is that the price has been trading above the downtrend line.

The 20-day EMA ($1,119) is moving up gradually but the RSI near the midpoint suggests a lack of bullish momentum. Buyers will have to propel and sustain the price above the 50-day SMA ($1,157) to signal the start of an up-move to $1,227.

This positive view could invalidate in the near term if the price re-enters the downtrend line. The MKR/USDT pair could then slump to the strong support at $980. This level is likely to witness strong buying by the bulls.

The 4-hour chart shows that the price has been oscillating between $1,083 and $1,170 for some time. The flattish moving averages and the RSI in the negative zone indicate a slight advantage to the sellers.

On the downside, the important support to watch out for is $1,102 and then $1,083. Conversely, if the price turns up from the current level and breaks above the moving averages, it will suggest that the bulls are on a comeback. The pair may then rally to $1,170.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin range trades as volatility subsides, will TON, LINK, MKR and XTZ follow?

September 5, 2023 Coin Telegraph

Bitcoin

Bitcoin’s failed breakout to the upside hints that range-bound price action could be set to continue. Meanwhile, TON, LINK, MKR and XTZ begin to perk up.

Bitcoin (BTC) tried to break out of its range last week, but the bulls could not sustain the higher levels. Bitcoin is back inside the range and is trading near the $26,000 level. The price action of the past few days has formed two successive Doji candlestick patterns on the weekly chart, indicating uncertainty about the next directional move.

Although it is difficult to predict the direction of the breakout, the downside may be limited in the near term on expectations that the United States Securities and Exchange Commission (SEC) may eventually approve one or more pending applications for a spot Bitcoin exchange-traded fund. Former commission chair Jay Clayton sounded confident when he said in a recent interview that “an approval is inevitable.”

In the near term, it is difficult to pinpoint a specific catalyst that could shake Bitcoin out of its range. The lack of clarity about Bitcoin’s next trending move has kept most major altcoins under pressure.

Only a handful of altcoins are showing signs of strength in the short term. Let’s study the charts of top-5 cryptocurrencies that may start a rally if they break above their respective overhead resistance levels.

Bitcoin price analysis

Bitcoin is back inside the $24,800 to $26,833 range, but a positive sign is that the bulls continue to buy the dips as seen from the long tail on the Sep. 1 candlestick.

Although the downsloping moving averages indicate advantage to bears, the gradually recovering relative strength index (RSI) shows that the bearish momentum may be weakening. The first sign of strength will be a break and close above the range at $26,833. If that happens, the BTC/USDT pair could retest the Aug. 29 intraday high of $28,142.

If bears want to seize control, they will have to sink and sustain the price below $24,800. This is going to be a tough task as the bulls are likely to defend the level with all their might. Still, if the bears prevail, the pair could plunge to $20,000. There is a minor support at $24,000 but it may not halt the decline.

The bears tried to pull the price below the immediate support at $25,300 but the bulls held their ground. Buyers will next try to build upon their strength by driving the price above the 20-exponential moving average. If they do that, it will indicate the start of a stronger recovery.

The 50-day simple moving average may act as a roadblock but it is likely to be crossed. That could clear the path for a possible rally to the overhead resistance at $26,833.

Sellers are likely to have other plans. They will try to sink the price below $25,300 and challenge the vital support at $24,800.

Toncoin price analysis

Toncoin (TON) is in an uptrend but the bears are trying to halt the up-move near the overhead resistance at $2.07.

Both moving averages have turned up, indicating advantage to buyers but the overbought levels on the RSI suggest that a minor correction or consolidation is possible. If the bulls do not give up much ground from the current level, the likelihood of a rally above $2.07 increases. The TON/USDT pair could then soar to $2.40.

Contrarily, a deeper correction could pull the price to the 20-day EMA ($1.58). A strong bounce off this level will suggest that the sentiment has turned positive and traders are buying on dips. The trend will turn negative if the 20-day EMA support cracks.

The 4-hour chart shows that the bulls have been buying the pullback to the 20-EMA. This remains the key level to watch out for. If the price rebounds off the 20-EMA with strength, the pair could retest the local high at $1.98. A break above it could challenge the resistance at $2.07.

On the contrary, if the 20-EMA support breaks down, it will indicate that traders are rushing to the exit. That could start a deeper pullback toward the 50-SMA. A bounce off this level could face selling at the 20-EMA but if this roadblock is cleared, it will suggest that bulls are back in the driver’s seat.

Chainlink price analysis

Chainlink (LINK) has been trading inside a large range between $5.50 and $9.50 for the past several months. The bears pulled the price below the support of the range on June 10 but they could not sustain the lower levels.

The LINK/USDT pair dropped close to the support of the range on Aug. 17 but the bulls bought this dip as seen from the long tail on the candlestick. Buyers are trying to start a recovery but are facing resistance near the 20-day EMA ($6.24). Hence, this becomes an important level to look out for.

If buyers propel the price above the 20-day EMA, the pair could start its journey toward the 50-day SMA ($6.95). There is a minor resistance at $6.40 but it is likely to be crossed.

On the contrary, if the price turns down sharply from the 20-day EMA, it will suggest that the sentiment remains negative and traders are selling on rallies. That could pull the price down to $5.50.

The moving averages have flattened out on the 4-hour chart and the RSI is near the midpoint. This suggests that the selling pressure is reducing. Buyers will have to kick the price above $6.40 to start a new up-move. The pair could then rise to $6.87 and later to $7.07.

Alternatively, if the price turns down from $6.40, it will signal that bears are selling on rallies. That may keep the pair range-bound between $5.50 and $6.40 for a while longer.

Maker price analysis

Maker (MKR) has taken support near $1,000 and is attempting to resume its uptrend. The bulls are facing resistance at the downtrend line but a positive sign is that they have kept the price above the 20-day EMA ($1,107).

If the price turns up from the current level, it will suggest that the sentiment has turned positive and traders are viewing dips as a buying opportunity. The bulls will then again try to push the price to $1,370.

Instead, if the price continues lower and breaks below the 20-day EMA, it will signal that the bears are fiercely defending the downtrend line. The MKR/USDT pair may then slump to the strong support at $980 and eventually to $860.

The 4-hour chart shows that the bulls pushed the price above the downtrend line but they are struggling to sustain the higher levels. This indicates that the bears have not yet given up and they continue to sell on rallies.

The 20-EMA is witnessing a tough battle between the bulls and the bears. If the price rebounds off this level, the bulls will make one more attempt to overcome the obstacle at $1,186 and then at $1,227. If this zone is scaled, the rally could reach $1,280.

Conversely, if the price sustains below the 20-EMA, it could open the gates for a possible decline to the 50-SMA and then to $1,040.

Tezos price analysis

Tezos (XTZ) has been witnessing a tussle between the bulls and the bears near the strong support at $0.70. The failure of the bears to sink and sustain the price below this level indicates buying at lower levels.

*XTZ/USDT daily chart. Source:* *TradingView*

The downsloping moving averages indicate advantage to bears but the rising RSI suggests that the bearish momentum is reducing. A close above the 20-day EMA ($0.71) will be the first sign of strength. That could pave the way for a rally to the downtrend line.

This level may act as a formidable hurdle but if the bulls overcome it, the XTZ/USDT pair may start a new up-move. The pair could first rally to $0.94 and subsequently to $1.04. This positive view will invalidate if the price skids and sustains below $0.66.

*XTZ/USDT 4-hour chart. Source: TradingView*

The 4-hour chart shows that the price is consolidating between $0.69 and $0.66. The crisscrossing moving averages and the RSI just below the midpoint suggest that bears have a slight edge. Sellers will try to drag the price to the strong support at $0.66. If this level crumbles, the pair may start the next leg of the downtrend to $0.61.

On the other hand, if the price turns up and rises above $0.69, it will indicate sold buying at lower levels. The pair could then surge to the overhead resistance at $0.74. Buyers will have to thrust the price above the downtrend line to signal the start of a new up-move.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Bitcoin flatlines again but TON, LINK, MKR, XTZ are poised for up-move

September 4, 2023 Coin Telegraph

Bitcoin

Bitcoin’s failed breakout to the upside shows that the range-bound action could continue for some time but that may not hinder the bullish possibilities in TON, LINK, MKR, and XTZ.

Bitcoin (BTC) tried to break out of its range in the first half of last week but the bulls could not sustain the higher levels. Bitcoin is back inside the range and is trading near the $26,000 level.

The price action of the past few days has formed two successive Doji candlestick patterns on the weekly chart, indicating uncertainty about the next directional move.

Although it is difficult to predict the direction of the breakout, the downside could be limited in the near term on expectations that the United States Securities and Exchange Commission (SEC) may eventually approve one or more pending applications for a spot Bitcoin exchange-traded fund.

Former commission chair Jay Clayton sounded confident when he said in a recent interview that “an approval is inevitable.”

Only a handful of altcoins are showing signs of strength in the short term. Let’s study the charts of top-five cryptocurrencies that may start a rally if they break above their respective overhead resistance levels.

Bitcoin price analysis

Bitcoin is back inside the $24,800 to $26,833 range, but a positive sign is that the bulls continue to buy the dips as seen from the long tail on the Sep. 1 candlestick.

If bears want to seize control, they will have to sink and sustain the price below $24,800. This is going to be tough as the bulls are likely to defend the level with all their might. Still, if the bears prevail, the pair can plunge to $20,000. There is a minor support at $24,000 but it may not halt the decline.

The bears tried to pull the price below the immediate support at $25,300 but the bulls held their ground. Buyers will next try to strengthen their position by driving the price above the 20-exponential moving average. If they do that, it will indicate the start of a stronger recovery.

The 50-day simple moving average may act as a roadblock but it is expected to be crossed. The pair could then rally to the overhead resistance at $26,833.

Sellers are likely to have other plans. They will try to sink the price below $25,300 and challenge the vital support at $24,800.

Toncoin price analysis

Toncoin (TON) is in an uptrend but the bears are trying to halt the up-move near the overhead resistance at $2.07.

Contrarily, a deeper correction may pull the price to the 20-day EMA ($1.61). A strong bounce off this level will suggest that the sentiment remains positive and traders are buying on dips. The trend will turn negative if the 20-day EMA support cracks.

The 4-hour chart shows that the bulls have been buying the pullback to the 20-EMA. Buyers will have to push the price above $1.98 to signal the resumption of the uptrend but the bears may not give up easily.

Sellers will try to pull the price below the 20-EMA. If they manage to do that, the pair could start a deeper pullback toward the 50-SMA. A bounce off this level is likely to face selling at the 20-EMA but if this roadblock is cleared, it will suggest that bulls are back in the driver’s seat.

Chainlink price analysis

The LINK/USDT pair dropped close to the support of the range on Aug. 17 but the bulls bought this dip as seen from the long tail on the day’s candlestick. Buyers are trying to start a recovery but are facing resistance near the 20-day EMA ($6.23). Hence, this becomes an important level to look out for.

If buyers propel the price above the 20-day EMA, the pair can start its journey toward the 50-day SMA ($6.94). There is a minor resistance at $6.40 but it is likely to be crossed.

On the contrary, if the price turns down sharply from the 20-day EMA, it will suggest that the sentiment remains negative and traders are selling on rallies. That could pull the price down to $5.50.

The moving averages have flattened out on the 4-hour chart and the RSI is just above the midpoint. This suggests that the selling pressure is reducing. Buyers will have to kick the price above $6.40 to start a new up-move. The pair could first rise to $6.87 and later to $7.07.

Alternatively, if the price turns down from $6.40, it will signal that bears are selling on rallies. That may keep the pair range-bound between $5.50 and $6.40 for a while longer.

Maker price analysis

Maker (MKR) has taken support near $1,000 but the bulls are facing solid resistance from the bears near the downtrend line.

The bulls repeatedly pushed the price above the downtrend line in the past few days but they failed to sustain the higher levels. A minor positive is that buyers have not given up much ground, which suggests that traders are not dumping their positions in a hurry.

If the price turns up and closes above the downtrend line, it will suggest that buyers are back in the game. The positive momentum is likely to pick up after buyers kick the price above $1,227. The pair may then rally to $1,370.

Instead, if the price sustains below the 20-day EMA ($1,106), it will suggest that bears have the upper hand. The pair could then slump to the strong support at $980.

The 4-hour chart shows that the bulls pushed the price above the downtrend line but they could not sustain the higher levels. This indicates that the bears have not given up and they continue to sell on rallies.

The price has plunged to the 50-SMA, which is an important level to keep an eye on. If the price turns up from the current level, the bulls will again try to overcome the obstacle at $1,186 and then at $1,227. If this zone is scaled, the rally could reach $1,280.

Conversely, if the price sustains below the 50-SMA, it will open the gates for a potential decline to $1,040 and eventually to $980.

Tezos price analysis

This level is likely to act as a formidable hurdle but if the bulls overcome it, the XTZ/USDT pair may start a new up-move. The pair can first rally to $0.94 and subsequently to $1.04. This positive view will invalidate if the price skids and sustains below $0.66.

The 4-hour chart shows that the price is consolidating between $0.70 and $0.66. The crisscrossing moving averages and the RSI near the midpoint indicate a balance between supply and demand.

If the price rises above $0.70, the advantage will tilt in favor of the bulls. The pair could then surge to the overhead resistance at $0.74. The advantage will tilt in favor of the bears if they sink the price below $0.68. That is likely to result in a retest of the support at $0.66. If this level crumbles, the pair may start the next leg of the downtrend to $0.61.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Maker

Bitcoin price analysis

Maker price analysis

Aave price analysis

THORChain price analysis

Injective price analysis

Bitcoin price analysis

Chainlink price analysis

Maker price analysis

Arbitrum price analysis

Theta Network price analysis

Bitcoin price analysis

Maker price analysis

Aave price analysis

THORChain price analysis

Render price analysis

Bitcoin price analysis

Toncoin price analysis

Stellar price analysis

Monero price analysis

Maker price analysis

Bitcoin price analysis

Toncoin price analysis

Chainlink price analysis

Maker price analysis

Tezos price analysis

Bitcoin price analysis

Toncoin price analysis

Chainlink price analysis

Maker price analysis

Tezos price analysis

Share this video