💥Bitcoin (BTC) has not rallied after breaking above $65,000, but a positive sign is that bulls have not given up much ground. This shows that buyers are holding their ground as they expect the rally to continue further.
Bitcoin ETFs in the United States saw $1.1 billion in inflows last week, indicating a positive sentiment shift. The rally pushed the crypto fear and greed index to a greed level of 63 on September 29.
Can buyers sustain the momentum, pushing Bitcoin and select altcoins higher? Let’s take a look at the top 4 cryptocurrencies that look strong on the charts.
1.XRP Technical Analysis
👉XRP (XRP) has formed an ascending triangle pattern, which will complete on a close above $0.64.
XRP/USDT Daily Chart
👉If that happens, the XRP/USDT pair could start a rally towards $0.74. This level has proven to be a formidable barrier for months; hence, the bears will try to defend it once again. However, if the bulls prevail, the pair could surge towards the pattern target of $0.90.
👉Conversely, if the price turns down sharply from the current level and breaks below $0.64, it will suggest that the breakout could be a bull trap. The pair could then drop to the 20-day EMA ($0.58).
2.TAO Technical Analysis
👉Bittensor (TAO) rose and closed above the $530 resistance on September 23, but the bulls could not extend the recovery beyond $600.
TAO/USDT Daily Chart | Source: TradingView
👉A positive sign in favor of the bulls is that they did not allow the price to close below the strong support at $530. If the price continues to move higher and surpasses $600, this will signal the continuation of the uptrend. The TAO/USDT pair could advance to $640 and then $720.
👉On the other hand, if the price breaks below $530, the next support level is at $489. Buyers are expected to defend this zone strongly. The bears will return to the game if they push the pair below the 20-day EMA.
