Bitcoin bulls chase after $50K, opening the door for IMX, KAS, TIA an STX to rally higher
Bitcoin’s strength has improved crypto sentiment, pulling altcoins like $IMX , KAS, $TIA and STX higher.
Bitcoin’s rally has reached the stiff overhead resistance at $48,970, which is likely to witness a tough battle between the bulls and the bears.
The upsloping 20-day exponential moving average ($44,164) and the relative strength index (RSI) in the overbought zone indicate that the path of least resistance is to the upside. If bulls drive the price above $48,970, the BTC/USDT pair may accelerate toward $52,000. If this level is surmounted, the rally could reach $60,000.
Conversely, if the price turns down sharply from the current level, it will indicate a possible consolidation between $44,700 and $48,970 for a few days. The short-term trend will weaken on a break below the 20-day EMA.
