Biggest Movers: THETA Hits 3-Month High, While Near Climbs 17% on Friday

August 5, 2022 Bitcoin.com

Top 5 cryptocurrencies to watch this week: BTC, BNB, UNI, FIL, THETA

July 31, 2022 Coin Telegraph

Consolidation from BTC has opened the door for BNB, UNI, FIL and THETA to run higher.

Bitcoin (BTC) has made a strong comeback in the month of July and is on track for its best monthly gains since October 2021. The sharp recovery in Bitcoin and several altcoins pushed the Crypto Fear and Greed Index to 42/100 on July 30, its highest level since April 6.

Investors seem to be making the most of the depressed levels in Bitcoin. Data from on-chain analytics firm Glassnode shows that Bitcoin in exchange wallets has dropped to 2.4 million Bitcoin in July, down from the March 2020 levels of 3.15 million Bitcoin. This has sent the metric to its lowest level since July 2018.

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

Bloomberg Intelligence senior commodity strategist Mike McGlone highlighted that the United States Federal Reserve’s indication to consider rate hikes on a “meeting by meeting basis” may lay the groundwork for Bitcoin to outperform most assets. He said that Bitcoin’s “risk vs. reward tilted favorably for one of the greatest bull markets in history."

Could Bitcoin extend its rally in the short term and could that trigger buying in select altcoins? Let’s study the charts of the top-5 cryptocurrencies that may outperform in the near term.

BTC/USDT

Attempts by the bulls to sustain the price above $24,276 have failed in the past two days, indicating that the bears are defending the level with vigor. However, a minor positive is that the bulls have not ceded ground to the bears.

This indicates that the bulls are not booking profits in a hurry as they expect a break above the overhead resistance. If the price breaks and closes above $24,276, the BTC/USDT pair could pick up momentum and rally toward $28,171. This level may act as a resistance but if bulls overcome the barrier, the next stop could be $32,000.

The upsloping 20-day exponential moving average ($22,480) and the relative strength index (RSI) in the positive territory indicate that bulls have the upper hand.

To invalidate this bullish view in the short term, the bears will have to sink the price below the 20-day EMA. That could clear the path for a possible drop to the 50-day simple moving average ($21,386) and then to the support line. A break below this level will suggest that bears are back in command.

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

The 4-hour chart shows that bulls pushed the price above the overhead resistance of $24,276 but could not build upon the breakout. The bears pulled the price back below the level but are struggling to sink the pair below the 20-EMA. This indicates that bulls are buying on dips.

If the price rebounds off the current level, the bulls will have another shot at the overhead zone between $24,276 and $24,668. If this zone is scaled, the bullish momentum could pick up further. Conversely, if bears sink the price below the 20-EMA, the pair could drop to the 50-SMA.

BNB/USDT

Binance Coin (BNB) broke above the downtrend line on July 28, indicating a potential trend change. The up-move is facing resistance near the psychological level of $300 but a positive sign is that the buyers have not given up much ground. This suggests that the bulls are not hurrying to book profits.

The upsloping 20-day EMA ($263) and the RSI in the positive territory indicate that the path of least resistance is to the upside. If buyers drive the price above $300, the BNB/USDT pair could resume its uptrend toward the overhead resistance at $350.

Alternatively, if the price turns down and breaks below $285, the pair could drop to the downtrend line. The 20-day EMA is placed close to this level, hence it becomes an important support to keep an eye on. If bears sink the price below the 20-day EMA, the pair could decline to the 50-day SMA ($239).

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

The pair turned down from the overhead resistance at $300 but the bulls are attempting to defend the 20-EMA. This indicates buying on dips. The bulls may again attempt to push the price above $300. If they manage to do that, the uptrend could resume. The pair could rise to $311 and then to $322.

This positive view could invalidate in the short term if the price turns down and breaks below the 20-EMA. If that happens, the pair could slide to the 50-SMA. The buyers are expected to defend this level aggressively because a break and close below it could open the doors for a decline to $239.

UNI/USDT

Uniswap (UNI) rebounded off the breakout level of $6.08 on July 26, indicating strong buying on dips. The up-move reached near the psychological resistance at $10 on July 28 where the bears are mounting a strong defense.

The upsloping moving averages and the RSI in the positive territory indicate advantage to buyers. If the price rebounds off $8.11, it will suggest that buyers are trying to flip this level into support.

A strong rebound off $8.11 could open the doors for a retest at $10. The bulls will have to clear this overhead hurdle to indicate the start of the next leg of the up-move to $12.

Conversely, if the price turns down and breaks below $8.11, the UNI/USDT pair could drop to the 20-day EMA ($7.48). A break and close below this level will suggest that the bullish momentum has weakened.

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

The 4-hour chart shows that the bulls are attempting to defend the 20-EMA. If the price turns up from the current level and rises above $9.18, the pair could challenge the overhead resistance zone between $9.83 and $10.

Alternatively, if the price breaks below the 20-EMA, it will suggest that supply exceeds demand. The pair could then drop to the zone between $8.11 and the 50-SMA. This is an important zone for the bulls to defend because if they fail to do that, the short-term momentum could tilt in favor of the bears.

FIL/USDT

After staying in a tight range for several days, Filecoin (FIL) broke out sharply on July 30, signaling a potential trend change. The RSI has risen into the overbought territory which is another sign that the downtrend may be ending.

The up-move may face resistance at the overhead resistance at $9.50 but if bulls do not give much ground from this level, the likelihood of a breakout increases. If that happens, the FIL/USDT pair could start its northward march toward $16, which may again act as a strong resistance.

If the price turns down from the current level and breaks back below $6.55, it will suggest that bears are active at higher levels. The pair may thereafter oscillate in a large range between $5 and $9.50 for a few days.

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

The pair picked up momentum after breaking above $6.40. The bears tried to stall the up-move at $8.89 but the bulls had other plans. They aggressively bought the dip and have pushed the price near the stiff overhead resistance at $9.50.

If the price turns down from the current level, the bulls will attempt to arrest the pullback at the 38.2% Fibonacci retracement level of $8.04. A strong bounce off this level will increase the possibility of a break above $9.50. If that happens, the pair could rally to $10.82. This bullish view could invalidate below $7.70.

THETA/USDT

Theta Network (THETA) has been consolidating between $1 and $1.55 for the past several days. The bulls tried to push the price above the overhead resistance on July 30 but the bears held their ground.

If the price rebounds off the moving averages, the bulls will make another attempt to clear the overhead hurdle at $1.55. If they succeed, the THETA/USDT pair could start a new uptrend. The rally could first reach the pattern target of $2.10 and if this level is crossed, the rally may extend to $2.60.

Contrary to this assumption, if the price breaks below the moving averages, the bears will try to pull the pair to $1. Such a move could indicate that the range-bound action may continue for a few more days.

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

The 4-hour chart shows that the pair turned down from $1.50 and is struggling to rebound off the 20-EMA. This indicates that traders may be booking profits on every minor rise.

If the price sustains below the 20-EMA, the pair could drop to the 50-SMA. This is an important level for the bulls to defend because a break below it could sink the pair to $1.15.

Alternatively, if the price rebounds off the moving averages with strength, it will suggest that lower levels are attracting buyers. If bulls push the price above $1.42, a retest of the $1.50 to $1.55 resistance zone is possible.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Top 5 cryptocurrencies to watch this week: BTC, UNI, XLM, THETA, HNT

June 26, 2022 Coin Telegraph

Bitcoin

Although Bitcoin is struggling to form a bottom, altcoins are on a roll and the current price action could benefit UNI, XLM, THETA and HNT.

The United States equities markets witnessed a sharp comeback last week, led by the Nasdaq Composite which gained 7.5%. The S&P was up about 6.5% for the week while the Dow Jones Industrial Average managed a gain of 5.4%.

Continuing its tight correlation with the equities market, the crypto markets are also attempting a relief rally. Bitcoin (BTC) has seen a modest recovery but some altcoins have risen sharply in the past week. This suggests that investors are taking advantage of the sharp fall in the price to accumulate altcoins at lower levels.

Smaller-sized investors have been using the decline in Bitcoin to build their position to at least one Bitcoin. Glassnode data shows that the number of Bitcoin wallet addresses having more than one Bitcoin rose by 873 between June 15 to June 25.

Could the recovery in Bitcoin and altcoins pick up momentum? Let’s study the charts of the top-5 cryptocurrencies that could charge higher in the short term.

BTC/USDT

Bitcoin’s relief rally is facing stiff resistance near $22,000 as seen from the long wick on the June 26 candlestick. This indicates that the bears are not willing to give up their advantage and are selling on rallies.

The sellers will try to pull the price toward the vital support of $20,000. This is an important level to watch out for because a bounce off it will suggest that bulls are attempting to form a higher low.

That could enhance the prospects of a break above the 20-day exponential moving average ($23,155). If that happens, the BTC/USDT pair could indicate a potential trend change. The bulls will then try to drive the price toward the 50-day simple moving average ($27,424).

On the contrary, if the price turns down and plummets below $20,000, it will suggest that bears remain in control. The sellers will then try to sink the BTC/USDT pair to the crucial level of $17,622.

The failure of the bulls to push the price to the 38.2% Fibonacci retracement level of $23,024 suggests a lack of demand at higher levels. The moving averages have flattened out and the relative strength index (RSI) is just above the midpoint, suggesting a range-bound action in the near term.

If the price slips below the moving averages, the pair could drop to $20,000. A break below this support could signal weakness.

Alternatively, if the price rebounds off the moving averages, it will suggest that bulls are buying on dips. The bulls will then attempt to push the price toward $23,024. If this level is crossed, the next stop could be the 50% retracement level of $24,693.

UNI/USDT

Uniswap (UNI) rebounded sharply from $3.33 on June 18 and has reached the stiff overhead resistance at $6.08. The bears are defending the level aggressively but a minor positive is that the bulls have not given up much ground.

The moving averages are close to completing a bullish crossover and the RSI is in the positive zone, indicating that the path of least resistance is to the upside.

If buyers drive the price above $6.08, the bullish momentum could pick up and the UNI/USDT pair could rally to $8. This level could again act as a stiff hurdle but if bulls overcome it, the next stop could be $10.

On the contrary, if the price turns down from the current level and breaks below the 20-day EMA ($4.90), it will suggest that the trend remains negative and traders are selling near resistance levels. The pair could then decline toward $4.

The bears are attempting to stall the recovery near the overhead resistance at $6.08 but the rising moving averages on the 4-hour chart suggest that bulls have the upper hand in the near term.

If the rebound off the 20-EMA sustains, it could increase the possibility of a break above $6.08. If that happens, the pair could pick up momentum and rally to $6.66 and then to $7.34.

Another possibility is that the pair turns down and breaks below the 20-EMA. In that case, the pair could slide to the 50-SMA. A break below this support could invalidate the bullish view.

XLM/USDT

Stellar (XLM) has been in a strong downtrend but the bulls are attempting to form a bottom near $0.10. The buyers pushed the price above the 20-day EMA ($0.12) on June 24 but could not clear the hurdle at the 50-day SMA ($0.13).

A minor positive is that bulls have not allowed the price to slip back below the 20-day EMA ($0.12). The flattening 20-day EMA and the RSI near the midpoint suggest that bulls are attempting a comeback.

If buyers drive the price above the 50-day SMA, the XLM/USDT pair could attempt a rally to the overhead resistance at $0.15. If this level is cleared, it may signal the start of a new uptrend.

This positive view could invalidate in the short term if the price continues lower and breaks below the 20-day EMA. The pair could then slip to $0.11.

*XLM/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, suggesting advantage to buyers. The buyers will have to propel the price above $0.13 to open the doors for a possible rally to $0.14 and then $0.15.

Contrary to this assumption, if the price slips below the 20-EMA, the pair could drop to the uptrend line. A break below this support could tilt the advantage back in favor of the bears. The pair could then slide to $0.11.

THETA/USDT

Theta Network (THETA) has been consolidating in a tight range between $1 and $1.55 for the past several days. The longer the time spent inside a range, the stronger will be the breakout from it.

Both moving averages are on the verge of completing a bullish crossover and the RSI is in the positive territory. This suggests that bulls have a slight edge. If buyers push the price above $1.55, it will suggest the start of a new up-move. The THETA/USDT pair could then rise to the pattern target of $2.10.

Contrary to this assumption, if the price turns down from $1.55, it will suggest that bears continue to defend the resistance aggressively. That could keep the pair stuck inside the range for a few more days.

The 4-hour chart shows that the price turned down from the overhead resistance at $1.55 but a positive sign is that the bulls are attempting to defend the 20-EMA. This suggests that the sentiment is turning positive and traders are buying the dips.

If the price rebounds off the current level, the bulls will again try to clear the overhead hurdle at $1.55. If they can pull it off, it could suggest the start of a new uptrend. Conversely, if the price breaks below the 20-EMA, the pair could drop to the 50-SMA.

HNT/USDT

Helium (HNT) has formed a symmetrical triangle pattern, indicating indecision among the bulls and the bears. Usually, the symmetrical triangle acts as a continuation pattern but in some cases it indicates a reversal.

The moving averages have completed a bullish crossover and the RSI is in the positive territory, suggesting that bulls have a slight edge.

The price has been stuck between the resistance line of the triangle and the 20-day EMA ($10.50) for the past few days. This is a positive sign as it shows a change in sentiment from selling on rallies to buying on dips.

If buyers propel the price above the resistance line of the channel, it will suggest a potential change in trend. The HNT/USDT pair could then rally to $16.50 and later to the pattern target of $18.50.

This positive view could invalidate in the short term if the price turns down and plummets below the 20-day EMA. That could open the doors for a possible drop to the support line of the triangle.

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

The bulls are struggling to sustain the price above $12, which suggests that bears are defending the overhead zone between $12.50 and $13.50 with vigor. If the price slips below the uptrend line, it could tilt the short-term advantage in favor of sellers.

Alternatively, if the price rebounds off the 20-EMA, it will suggest that bulls are buying on dips. The bulls will then make one more attempt to clear the overhead zone. If they succeed, it will suggest the start of a new up-move.

Top 5 cryptocurrencies to watch this week: BTC, ALGO, XMR, XTZ, THETA

May 8, 2022 Coin Telegraph

Algorand

Bitcoin has reached a critical support zone and if there is a bounce from this level ALGO, XMR, XTZ and THETA could move higher in the short-term.

The S&P 500 and the Nasdaq have declined for five consecutive weeks, indicating that traders continue to reduce exposure to risky assets. Bitcoin’s (BTC) close correlation with United States equity markets has resulted in its price remaining under pressure.

Bitcoin has extended its decline during the weekend and is now on track for its sixth successive weekly loss, the first such occurrence since 2014. The weakness in Bitcoin has pulled down the entire crypto markets whose market capitalization has dipped below $1.6 trillion.

When the sentiment is bearish, traders sell on every negative news. The de-peg of Terra’s U. S. dollar stablecoin TerraUSD (UST) also appears to be increasing sell pressure across the crypto market.

After Bitcoin’s six consecutive weekly closes in the red, is it time for a recovery? Let’s study the charts of the top-5 cryptocurrencies that are showing signs of stabilizing in the near term.

BTC/USDT

Bitcoin turned down from the 20-day exponential moving average ($38,268) on May 5 and plummeted below the support line of the ascending channel. This move also invalidated the positive divergence on the relative strength index (RSI).

The moving averages have started to turn down and the RSI is nearing the oversold zone, signaling that bears are in control.

The BTC/USDT pair has a minor support at $34,322 but if bulls fail to defend this level, the decline could extend to $32,917. This is a crucial level to keep an eye on because if it cracks, the pair could witness panic selling and the next stop may be $28,805.

If the price turns up from $34,322, the recovery could face selling near the 20-day EMA. If the price turns down from this level, it will suggest that the sentiment remains negative and traders are selling on rallies. That could enhance the prospects of a resumption of the downtrend.

This negative view could invalidate in the short term if the bulls push and sustain the price above the 20-day EMA. If that happens, the pair could rise to the 50-day simple moving average ($41,466).

The downsloping moving averages indicate that bears are in command but the oversold levels on the RSI suggest that a relief rally or a consolidation is possible in the near term. If the recovery fails to rise above the 20-EMA, the bears may maintain the selling pressure and the pair could drop to $32,917.

Conversely, a break and close above the 20-EMA could signal the start of a strong relief rally. The pair could then rise to the 50-SMA. The buyers will have to push and sustain the price above $40,000 to signal that the downtrend may be over.

ALGO/USDT

Algorand (ALGO) has been trading inside a descending channel pattern for the past few days. The price bounced off the support line of the channel on May 1 and the bulls have cleared the hurdle at the 20-day EMA ($0.69) indicating that the selling pressure could be reducing.

If buyers sustain the price above the 50-day SMA ($0.76), the ALGO/USDT pair could rally to the resistance line of the channel. This is an important level for the bulls to overcome. If they manage to do that, it will suggest the start of a new up-move. The pair could first rise to $1.10 and later to $1.25.

On the other hand, if the price turns down from the resistance line, it will suggest that the pair may extend its stay inside the channel for a few more days. The bears will have to sink and sustain the price below the channel to indicate the resumption of the downtrend.

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

The 20-EMA has turned up and the RSI is in the positive territory, indicating advantage to buyers. There is a minor resistance at $0.80 and if bulls clear this hurdle, the pair could rise to the resistance line of the channel.

On the downside, the 20-EMA is the critical level to keep an eye on. If the price rebounds off this level, it will suggest that the sentiment has turned in favor of buyers. That could increase the likelihood of a break above $0.80. Alternatively, if the price slips below the 20-EMA, the next stop could be the 50-SMA.

XMR/USDT

Monero (XMR) has been finding support near psychological support at $200 for the past few days. The buyers have not allowed the price to break below the downtrend line suggesting that they are attempting to flip the level into support.

The bulls will have to push and sustain the price above the 20-day EMA ($223) to suggest that the corrective phase may be over. There is a minor resistance at $240 but if bulls clear this hurdle, the XMR/USDT pair could rally to $289.

On the contrary, if the price turns down from the current level or the 20-day EMA, it will suggest that the bears have not yet given up. That could increase the likelihood of a break below $200. If that happens, the selling could intensify and the pair may drop to $150.

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

The pair has formed a symmetrical triangle pattern suggesting indecision among the bulls and the bears. If bulls drive the price above the resistance line of the triangle, it will suggest that the downtrend could be over. The pair could then rally to the 200-SMA and later rise toward the pattern target at $252.

Conversely, if the uncertainty of the triangle resolves to the downside, it will suggest that the triangle had acted as a continuation pattern. That could signal the resumption of the downward move. The pattern target on the downside is $164.

XTZ/USDT

Tezos (XTZ) broke below the long-term uptrend line on April 29 and the bears successfully defended the breakdown level on May 5. The bears tried to start the downtrend but are struggling to sustain the lower levels.

If bulls push and sustain the price above the uptrend line, it will suggest that the markets have rejected the breakdown. The XTZ/USDT pair may then attempt a rally to the overhead zone between the 50-day SMA ($3.18) and $3.40.

This positive view could invalidate if the price once again turns down from the uptrend line. If that happens, it will suggest that bears have flipped the uptrend line into resistance. A break and close below $2.39 could start a new downtrend which could reach $2.

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

The 20-EMA has flattened out and the RSI has formed a bullish divergence on the 4-hour chart suggesting that the negative momentum is weakening. The pair could now attempt a rally to $2.90 where the bears may offer a strong resistance. A break and close above this level could open the doors for a possible up-move to $3 and later to $3.30.

Alternatively, if the price turns down from the current level or the overhead resistance, it will suggest that bears are selling on rallies. That could keep the pair range-bound between $2.90 and $2.39. The downtrend could accelerate if bears sink the price below $2.39.

THETA/USDT

Theta Network’s THETA token had been trading between $2.27 and $4.40 for the past several weeks. This range resolved to the downside on May 6, indicating that bears had the upper hand.

Although the 20-day EMA ($2.57) is sloping down, the RSI is attempting to form a bullish divergence, indicating that the selling momentum is weakening. If bulls push the price back above the breakdown level of $2.27, it could trap several aggressive bears who may have initiated short positions on the break below the range.

The THETA/USDT pair could then rise to the 20-day EMA. This is an important level to keep an eye on because if bulls overcome this barrier, the pair could rally to the 50-day SMA ($3.10).

This positive view could invalidate if the price turns down from the current level or the breakdown level at $2.27 and plummets below $2.

The bulls are buying the dips close to the psychological level at $2. If buyers drive the price above the downtrend line, it will suggest that the bears may be losing their grip. The pair could then rally to the overhead resistance at $2.64. This level may again act as a strong resistance but if buyers clear this hurdle, the bullish momentum may pick up.

Contrary to this assumption, if the price turns down from the 20-EMA or the downtrend line, it will suggest that bears continue to sell on rallies. That could increase the possibility of a break below $2 and the resumption of the downtrend.

Sony Partners With Theta Labs to Launch 3D NFTs for Its Spatial Reality Display

May 7, 2022 Bitcoin.com

Top 5 cryptocurrencies to watch this week: BTC, VET, THETA, RUNE, AAVE

April 3, 2022 Coin Telegraph

Aave

BTC is holding a key support level, which is allowing altcoins like VET, THETA, RUNE and AAVE to push higher.

Bitcoin (BTC) is attempting to hold above its closest support level and traders are watching to see if the price can remain strong and close above the 2022 yearly open price at $46,200 for the second week in a row.

April has historically been the best performing month of the year for the S&P 500, according to Sam Stovall, chief investment strategist at CFRA. If history repeats itself and the close correlation between the U.S. equity markets and Bitcoin continues, it could bode well for the crypto markets in the near term.

Another sentiment booster could be that the 19th million Bitcoin entered circulation on April 1. For the remaining 2 million Bitcoin, the crypto markets will have to wait for a long time because the last Bitcoin is expected to be mined by 2140. This could shift focus on how only a small quantity of Bitcoin is left to be mined and its growing demand could lead to scarcity and boost prices higher.

Could Bitcoin hold above its critical support and if it does, will altcoins rally? Let’s study the charts of the top-5 cryptocurrencies that may extend their recovery in the short term.

BTC/USDT

Bitcoin is witnessing a tough tussle between the bulls and the bears near the important level at $45,400. The bears tried to pull and sustain the price below this level but the bulls held their ground. This suggests that the bulls are attempting to flip the level into support.

The upsloping 20-day exponential moving average ($44,333) and the relative strength index (RSI) in positive territory indicate the path of least resistance is to the upside. The critical level to watch on the upside is the 200-day simple moving average ($48,276).

If bulls thrust the price above this barrier, the BTC/USDT pair is likely to pick up momentum. The rally could face minor resistance at the psychological level at $50,000 but if this level is crossed, the next stop could be $52,000.

Contrary to this assumption, if the price turns down from the current level or the overhead resistance, the bears will again try to pull the pair below $45,400 and the 20-day EMA. If that happens, the pair could drop to the 50-day SMA ($41,615).

The 4-hour chart shows that the price has been correcting since hitting the resistance line of the ascending channel. Recovery attempts by the bulls are facing stiff resistance at the downtrend line. If bulls push and sustain the price above the downtrend line, the pair could rise to the resistance line of the channel.

A break and close above the channel could signal the resumption of the uptrend. Alternatively, if the price turns down from the downtrend line, the bears will attempt to sink the pair to $44,000. If this level cracks, the decline may extend to $42,594.

VET/USDT

VeChain (VET) surged above the overhead resistance at $0.07 on March 27 but the bears stalled the recovery at the 200-day SMA ($0.09). A minor positive is that the bulls have not allowed the price to slide below the breakout level at $0.07.

If the price turns up from the current level, the bulls will make one more attempt to clear the overhead hurdle at the 200-day SMA. If they manage to do that, it will suggest a possible change in trend. The VET/USDT pair could then rally to $0.10 and later to $0.13.

The rising 20-day EMA ($0.06) and the RSI in the positive territory indicate advantage to buyers. This bullish view will invalidate if the price turns down and breaks below the 20-day EMA. Such a move could pull the pair to the 50-day SMA ($0.05).

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

The 20-EMA has flattened out and the RSI is near the midpoint on the 4-hour chart, indicating a balance between supply and demand. If the price breaks above $0.08, the bulls will attempt to propel the pair above $0.09. If they do that, the pair could extend its up-move.

Conversely, if the price turns down and breaks below the 50-SMA, the pair could drop to the critical level at $0.07. If bulls flip this level into support, the pair will again try to rise above $0.09 but if the support at $0.07 cracks, the bears may be back in the game.

THETA/USDT

Theta Network’s THETA token has been range-bound between $2.50 and $4.40 for the past several weeks. The bulls attempted to push the price above the overhead resistance but failed. This suggests that the bears continue to defend the level aggressively.

If the price does not break below $3.80, it will suggest that traders are not closing their positions in a hurry as they expect the up-move to continue. The upsloping 20-day EMA ($3.54) and the RSI near the overbought zone indicate that the path of least resistance is to the upside.

If buyers drive the price above the overhead zone between $4.40 and the 200-day SMA ($4.77), it will signal the start of a possible uptrend. The THETA/USDT pair could then pick up momentum and rally to $6.

Contrary to this assumption, if the price slides below the 20-day EMA, the next stop could be the 50-day SMA ($3.17). Such a move will suggest that the pair may remain range-bound for a few more days.

The 4-hour chart shows that the bears have repeatedly thwarted attempts by the bulls to thrust the price above the overhead resistance at $4.40. The 20-EMA has flattened out and the RSI is near the midpoint, indicating a balance between supply and demand.

If the price slips below the 50-SMA, the short-term advantage could tilt in favor of the sellers. The price could then drop to $3.50. On the other hand, the bulls will gain the upper hand if the price breaks and sustains above the overhead resistance.

RUNE/USDT

THORChain (RUNE) has been trading inside a large descending triangle pattern for several months. The sharp rally of the past few days pushed the price to the downtrend line of the triangle where the bears are mounting a strong resistance.

If the price turns down from the current level, the RUNE/USDT pair could drop to the 20-day EMA ($9.75). This is an important level to watch out for because if the price rebounds off the 20-day EMA, it will suggest that the sentiment remains positive and traders are buying on dips.

That may enhance the prospects of a break above the downtrend line. If that happens, the bearish triangle setup will invalidate, which could be a bullish sign. The pair may then rally to $17.

This bullish view will be negated in the short term if the price turns down and breaks below the 20-day EMA. That could pull the pair down to the 200-day SMA ($7.88).

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

The 4-hour chart shows that the pair is facing strong resistance near $13. A minor positive is that the bulls have not allowed the price to dip and sustain below $11. Therefore, this becomes an important level to keep an eye on.

If the price breaks below this support, the pair could drop to the next major support at $10. Conversely, if the price rebounds off $11, the buyers will again try to resume the uptrend by driving the pair above the overhead resistance.

AAVE/USDT

Aave (AAVE) broke out of the downtrend line on March 29 which indicated a potential change in trend. The bears tried to stall the recovery at the 200-day EMA ($226) but the bulls did not give up much ground.

The buying resumed on April 1 and the AAVE/USDT pair broke above the 200-day SMA. If the price sustains above the 200-day SMA, it will signal the start of a new up-move.

If bulls drive the price above $262, the rally may extend to the psychological level at $300. The bears may mount a stiff resistance at this level but if bulls overcome this barrier, the up-move could reach $350.

This bullish view will invalidate in the short term if the price turns down and plummets below the 200-day SMA. The bears could then pull the price to the 20-day EMA ($187).

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

The 4-hour chart shows that the bulls are buying the dips to the 20-EMA. If bulls push the price above $261.20, the uptrend could resume. This rally could face resistance in the overhead zone between $283 and $300.

The RSI is showing signs of a negative divergence, indicating that the bullish momentum may be weakening. If the price turns down and breaks below the 20-EMA, it will suggest that the short-term bulls may be booking profits. That could sink the pair to the 50-SMA.

Crypto Analyst Predicts 200% Rallies for Three Altcoins, Sets Bullish Target for Bitcoin

March 29, 2022 The Daily Hodl

Top 5 cryptocurrencies to watch this week: BTC, XRP, CRO, FTT, THETA

February 13, 2022 Coin Telegraph

Bitcoin

BTC’s price action is looking grim, but traders hope that a bounce off the $42,000 support will complete a bullish technical analysis pattern and trigger a rally in Bitcoin and altcoins.

Bitcoin (BTC) has given back some of its recent gains, but on-chain data resource Ecoinometrics said that whales are accumulating because they believe the price is attractive from a long-term perspective.

On the downside, analyst Willy Woo believes that $33,000 is a strong bottom for Bitcoin. Popular Twitter trader Credible Crypto citing data from PlanC said that the odds of Bitcoin declining below $30,000 are poor.

Fidelity Digital Assets Head of Research Chris Kuiper believes that Bitcoin's downside risk could be minimal when compared to other digital assets, but it could rally substantially if it manages to replace gold as a store of value.

Could Bitcoin and altcoins stage a recovery after the recent pullback? Let’s study the charts of the top-5 cryptocurrencies that may attract investor attention in the short term.

BTC/USDT

Bitcoin turned down from the overhead resistance at $45,456 but a minor positive is that the bulls have not allowed the price to break below the 20-day exponential moving average ($41,383).

If the price rebounds off the current level, the bulls will try to propel the BTC/USDT pair above $45,456. A close above this level will complete a bullish inverse head and shoulders pattern.

The pair could then rally to $52,088 where the bears are likely to mount a strong challenge. If bulls thrust the price above this level, the pair could start its northward march toward the pattern target at $56,904.

This positive view will be negated if the price breaks and sustains below $39,600. Such a move could open the doors for a possible drop to $36,250.

The pair turned down from $45,456 and broke below the moving averages. The bulls are currently attempting to defend the minor support at $41,688.88 but are facing stiff resistance at the moving averages.

If the price turns down from the current level and breaks below $41,688.88, the pair could slide to $39,600. If the price rebounds off this level, then the pair could remain range-bound between $39,600 and $45,456 for a few days.

On the upside, a break and close above the moving averages will be the first indication that bulls have a slight edge. The pair could then rise to $43,920 and later to $45,456.

XRP/USDT

Ripple (XRP) broke and closed above the moving averages on Feb. 7, indicating that the downtrend could be coming to an end. The bears tried to pull the price back below the breakout level at $0.75 but the bulls thwarted their attempt.

The price rebounded off $0.75 and the bulls are trying to push the XRP/USDT pair toward the overhead resistance at $1. A break and close above this resistance could open the doors for a possible rally to $1.41.

The moving averages are on the verge of a bullish crossover and the relative strength index (RSI) is in the positive zone, indicating that buyers have the upper hand. This positive view will invalidate on a break and close below $0.75. Such a move will indicate that bears continue to sell on rallies.

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

The 4-hour chart shows that the bulls and the bears are battling it out near the $0.82 mark. The bulls pushed the price above this level but the bears stalled the rally at $0.85 and have pulled the pair back below $0.82.

A minor positive is that bulls are buying the dips to the 50-SMA. If the price rebounds off this support, the bulls will try to drive the pair above $0.85 and challenge the resistance at $0.91. Conversely, a break and close below the 50-SMA could pull the pair to $0.75. A break and close below this support could indicate the start of a deeper correction.

CRO/USDT

Crypto.com’s native coin (CRO) broke above the 50-day SMA ($0.47) on Feb. 7, suggesting that the corrective phase could be over. The price rallied to $0.54 on Feb. 10 where the bears are mounting a strong defense.

The moving averages are on the verge of a bullish crossover and the RSI is in the positive territory, indicating that the buyers have a slight edge. If the current rebound off the moving averages sustains, it will suggest that bulls are buying on dips. The bulls will then attempt to push the price above $0.54 and resume the uptrend.

If they can pull it off, the CRO/USDT pair could rise to $0.60 and then to $0.68. Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, the pair could drop to $0.39.

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

The 4-hour chart shows the pair is rising inside an ascending channel pattern. The bulls tried to push the price above the channel but the bears had other plans. They pulled the price back into the channel, trapping the aggressive bulls.

The buyers are attempting to defend the 50-SMA. If the price sustains above the 20-EMA, the bulls will again try to push the pair above the resistance line of the channel. This positive view will invalidate if the price turns down and plummets below the support line of the channel.

FTT/USDT

FTX Token (FTT) has been volatile inside a broadening formation. The failure of the buyers to propel the price above the resistance line indicates that bears are selling the rallies to this level.

However, a minor positive is that bulls are buying the dips in the zone between the 20-day EMA ($43.85) and the 50-day SMA ($41.50). If the price rebounds off the current level, the buyers will make one more attempt to clear the overhead hurdle.

If they manage to do that, the FTT/USDT pair could start a new uptrend. The pair could then rally to $53.50 where the bears may again pose a strong challenge but if this resistance is crossed, the rally could extend to $65.

This bullish view will invalidate if the price turns down and plummets below the 50-day SMA. That will indicate that the pair could extend its stay inside the broadening pattern for a few more days.

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

The failure of the bulls to push the price above the $48 to $50 overhead resistance zone may have attracted profit-booking from short-term traders. The pair has broken below both moving averages and could drop to the 38.2% Fibonacci retracement levels at $41.99.

If the price rises from the current level or $41.99, it will suggest that buyers are accumulating on dips. The bulls will then again try to push the price above the 50-SMA. If they succeed, the pair could challenge the overhead resistance.

On the downside, a break and close below $41.99 could signal the start of a deeper correction to the 50% retracement level at $39.95.

THETA/USDT

Theta Network (THETA) broke and closed above the downtrend line on Feb.10, indicating that the downtrend could be coming to an end. Generally, a rally above a stiff resistance tends to turn back and retest the breakout level.

If bulls succeed in flipping the breakout level into support, it suggests a change in sentiment from sell on rallies to buy on dips. The 20-day EMA ($3.49) has started to turn up and the RSI is in the positive territory, suggesting advantage to buyers.

If the price rebounds off the downtrend line, the bulls will attempt to start a new uptrend. A break and close above $4.39 could attract further buying and the THETA/USDT pair could rise toward $6.

This bullish view will invalidate if the price turns down from the current level and plummets below the downtrend line. Such a move will suggest that the break above the downtrend line could have been a bull trap.

The pair has been rising inside an ascending channel pattern. The bulls tried to push the price above the resistance line of the channel but the bears did not relent. This may have led to profit-booking by the short-term bears, pulling the price toward the support line.

The price has bounced off the support line on three previous occasions hence, the bulls will again try to defend it. If the price rebounds off the level and rises above the downtrend line, it will signal the resumption of the uptrend.

Alternatively, a break and close below the support line of the channel could signal a deeper correction to $3.20.