These 4 altcoins could be ready for an up-move if Bitcoin rallies above $27,500

Inexperienced traders often tend to purchase at higher prices near the end of a bull market, as they are afraid of not capitalizing on the rally. Conversely, institutional investors usually wait for the fervor to die down before investing. The bear market of Bitcoin (BTC) in 2022 put an end to the hype that had been seen the previous year.

Fred Pye, the CEO of 3iQ, Canada’s first Bitcoin fund issuer, stated in an interview with Cointelegraph that now that the “FOMO in Bitcoin is gone,” institutional investors and portfolio managers have begun to consider it as a “serious venue.”

Analysts are optimistic about the future, however, the current situation appears to be unclear as the cost has been confined to a certain range for recent days. It is predicted that a directional move will begin either next week or the following one.

If Bitcoin surges, which altcoins might experience a similar rise? Let’s take a look at the graphs of the top five crypto assets that could potentially increase in value in the near future.

Bitcoin price analysis

Bitcoin has been trading close to the support line of the symmetrical triangle, yet the bulls have been unable to drive the cost above it. This reflects that the bears are in control at higher levels.

The 20-day exponential moving average, which is trending downwards, and the relative strength index being below 42 suggest that bears are in control.

If the sellers cause the price to drop below the current support level of $26,361, the BTC/USDT pair might plunge to the significant support range between $25,800 and $25,250. Buyers are anticipated to defend this area with all their might as if they fail, the pair could plummet to $20,000.

If bulls push the price above the 20-day EMA, it may encourage more buying. This could result in the pair increasing towards the resistance line of the triangle. If this obstacle is broken, the pair may begin its ascent towards $32,400.

The four-hour chart displays the emergence of a symmetrical triangle pattern, suggesting that the bulls and the bears are in a state of indecision. The flattening moving averages also signify an equilibrium between supply and demand.

If the price falls beneath the triangle, the short-term trend will become bearish and the pair could decline to $25,800. The triangle’s objective is $24,773.

If the price rises above the triangle, this bearish outlook will be invalidated. The pair could then ascend to $28,400 and subsequently reach the pattern goal of $29,165.

XRP price analysis

XRP (XRP) is attempting to initiate a comeback. Since May 16, purchasers have been maintaining the cost above the 20-day EMA ($0.45) but they have not been able to surmount the barrier at the 50-day SMA ($0.47).

The 20-day EMA has begun to move upwards and the RSI is just above the middle, signifying that the bulls have a slight upper hand. This increases the chance of a surge above the 50-day SMA. The XRP/USDT pair could then initiate a surge to $0.54 and eventually to $0.58. This area is likely to experience vigorous selling from the bears.

The first level to watch for a potential decline is the 20-day EMA. To gain control of the market, sellers must bring the price below this point. The pair could then drop to $0.43 and eventually to the key support at $0.40.

The four-hour chart reveals that the rally has changed direction from the downtrend line, indicating that the bears are defending the downtrend line vigorously. Sellers are attempting to keep the rate below the 20-EMA and extend the retracement to the 50-SMA.

If the price rises from its current level and surpasses the downtrend line, it indicates the beginning of a short-term uptrend. There is a minor resistance at $0.48, however, it is expected to be surpassed. The pair may then surge up to $0.54.

Litecoin price analysis

Litecoin (LTC) has been moving in a narrow range between the 50-day Simple Moving Average ($89) and the resistance level of $96 over the past few days, indicating a lack of consensus between buyers and sellers.

The 20-day EMA ($88) has risen and the RSI is in the positive range, demonstrating that the bulls have the upper hand. This increases the likelihood of a surge above the resistance at $96. If successful, the LTC/USDT pair could surge to $106. This level may again provoke strong selling from the bears.

This optimistic outlook may be rendered inaccurate in the near future if the price drops drastically below the moving averages. If this happens, it could indicate that the pair will remain in the range of $79 to $96 for a while longer.

The four-hour chart indicates that bulls are attempting to protect the 20-EMA, suggesting a transformation from selling on upticks to buying on declines. If the price rebounds from its present level, the bulls will once more try to surpass the resistance at $96.

Nevertheless, the bears are not going to surrender without a struggle. They are attempting to reduce the price below the 20-EMA. If they are successful, the pair may plunge to the 50-SMA. The breakdown of this backing may bring about a descent to $86 and then $82.

Two derivative metrics suggest that the Bitcoin and Ethereum bears have regained control.

Render Token price analysis

Render Token (RNDR) has been increasing in value. On May 21, buyers pushed the price above the resistance of $2.60, however the long wick on the candlestick indicates that there was selling at higher levels.

The moving averages that are sloping upwards and the Relative Strength Index (RSI) just below the overbought area suggest that the bulls are in control. Buyers will make another effort to push the price beyond the psychological level of $3. If they are successful, the RNDR/USDT pair could surge to $3.35.

The first level to watch for a potential decline is the 20-day EMA ($2.10). If this level is breached, it could indicate that the move above $2.60 was a false signal. The pair could then drop to the 50-day SMA ($1.87).

The bulls are having difficulty keeping the price above the resistance level of $2.60, suggesting that a bull trap may be forming. Sellers could gain an advantage by forcing the price below the 20-EMA support level. If successful, the pair could then drop to the 50-SMA.

However, the increasing moving averages and the RSI in the overbought range suggest that lower prices are likely to be bought. If buyers are successful in pushing and sustaining the cost above $2.60, the pair could surge to $3.

Conflux price analysis

Conflux (CFX) is within the boundaries of a descending channel pattern. Bulls have bought up the dip to the support line on May 12, indicating strong demand at lower prices.

The 20-day EMA has leveled off at $0.29 and the RSI is close to the middle, indicating that the selling pressure has decreased.

Buyers attempted to push the price above the 50-day Simple Moving Average ($0.32) on May 16, yet the bears were able to keep the price from increasing. There is a small advantage for the bulls, as they have prevented the cost from dropping beneath the 20-day Exponential Moving Average. This indicates that buyers are buying on declines.

The bulls are likely to make one more effort to push the price higher than the 50-day SMA. If successful, the CFX/USDT pair could reach the downtrend line, which is anticipated to be a formidable barrier once more.

The four-hour chart indicates that the cost is reversing its steep surge from $0.22 to $0.33. Buyers are attempting to protect the 38.2% Fibonacci retracement level at $0.29, which is a good indication.

If buyers manage to keep the price above the resistance line, it will indicate that bulls have resumed control. The pair could potentially climb to $0.33 and then $0.37. On the other hand, if there is a break and close below $0.29, it could lead to a more significant correction towards $0.28 and then $0.27.

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