Bitcoin (BTC) has experienced a
Bitcoin (BTC) has experienced a decline of approximately 8% during the past week, yet there have been signs of aggressive buying around the weekly lows. Analysts remain undecided about the direction of the market’s movement, with some expecting a continuation of the correction while others anticipating a resumption of the uptrend.
Despite the recent rebound, the
Despite the recent rebound, the crypto market data indicates that investors have continued to withdraw funds from U.S.-based spot Bitcoin exchange-traded funds (ETFs), suggesting a lack of confidence among traders. Looking ahead, the next few days are expected to see a tough battle between the bulls and the bears near the $100,000 level.
If Bitcoin manages to stay
If Bitcoin manages to stay above this key psychological level, crypto sentiment is expected to improve, potentially pushing select altcoins higher. However, a failure to rise and maintain above $100,000 could lead to further selloffs in the market. Let’s take a closer look at the charts of the top five cryptocurrencies that may perform well in the near future:
1.
Bitcoin (BTC): – Current Price:
Bitcoin (BTC): – Current Price: $97,000 – Key Support Level: $90,000 – Key Resistance Level: $100,000 – Technical Indicators: The BTC/USDT pair is currently consolidating between the 20-day exponential moving average (EMA) at $98,758 and the 50-day simple moving average (SMA) at $92,901.
A break above the former
A break above the former could signal a resumption of the uptrend, while a break below the latter could lead to a deeper correction. The RSI is in the negative territory, indicating bearish momentum. However, the moving averages are sloping upwards, suggesting a bullish bias overall. 2. Sui (SUI): – Current Price: $4.30 – Key Support Level: $4.05 – Key Resistance Level: $5.50 – Technical Indicators: The SUI/USDT pair has pulled back slightly from its recent highs but is currently holding above the 20-day EMA at $4.22.
The RSI is in the
The RSI is in the negative territory, indicating bearish momentum. However, the moving averages are sloping upwards, suggesting a bullish bias overall. A break above the downtrend line could see the pair rally towards $5.50. Conversely, a break below the 20-day EMA could lead to a deeper correction towards $3.83.
3. Athena (ENA): – Current
3. Athena (ENA): – Current Price: $1.13 – Key Support Level: $1.00 – Key Resistance Level: $1.52 – Technical Indicators: The ENA/USDT pair has found support at the 20-day EMA at $1.00 and is currently consolidating between this level and the $1.23 resistance area. The RSI is near the midpoint, indicating a balance between supply and demand.
A break above the $1.23
A break above the $1.23 resistance could see the pair rally towards $1.52. Conversely, a break below the 20-day EMA could lead to a deeper correction towards $0.76. 4. Virtuals Protocol (VIRTUAL): – Current Price: $2.20 – Key Support Level: $2.00 – Key Resistance Level: $3.32 – Technical Indicators: The VIRTUAL/USDT pair has pulled back slightly from its recent highs but is currently holding above the 20-day EMA at $2.14.
The RSI is in the
The RSI is in the positive territory, indicating bullish momentum. However, the moving averages are sloping downwards, suggesting a bearish bias overall. A break above the $2.85 resistance could see the pair rally towards $3.32. Conversely, a break below the 20-day EMA could lead to a deeper correction towards $1.50.
5. Ethereum Classic (ETC): –
5. Ethereum Classic (ETC): – Current Price: $41.50 – Key Support Level: $38.00 – Key Resistance Level: $50.00 – Technical Indicators: The ETC/USDT pair is currently range-bound between $38.00 and $50.00. The RSI is near the 50 level, indicating a neutral market sentiment. The moving averages are sloping upwards, suggesting a bullish bias overall.
A break above the $50.00 resistance could see the pair rally towards $55.00. Conversely, a break below the $38.00 support could lead to a deeper correction towards $30.00.
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