If the bulls flip the $52,000 to support line, Bitcoin could see a substantial breakout that is likely to pull more buyers into select altcoins.
BTC/USDT
Bitcoin’s range between $46,200 to $50,500 resolved to the upside. The bulls pushed and closed the price above the $50,500 to $51,000 overhead resistance zone, meaning the resumption of the uptrend. The bears will try to pull the price back below the $50,500 level and trap the aggressive bulls. If they do that, the BTC/USDT pair could drop to the 20-day exponential moving average $48,476.
ETH/USDT
Ether broke above $4,000 but the bulls could not sustain the higher levels. This indicates that the bears are defending this level aggressively. A positive sign is that buyers have not given up much ground. This suggests that bulls are in no hurry to book profits because they anticipate the up-move to continue.
ADA/USDT
The bears have halted several attempts by the bulls to push ADA above the $2.97 to $3.10 overhead resistance zone. The negative divergence on the RSI also indicates that the bullish momentum is slowing down. The ADA/USDT pair could drop to the 20-day EMA ($2.65), which is likely to act as a strong support. If the price rebounds off this level, the bulls will again try to propel the pair above the overhead zone. If they succeed, the pair could start its journey toward $3.50.
BNB/USDT
The bulls are finding it difficult to drive the Binance coin above the overhead resistance at $518.90 but a positive sign is that they have not allowed the price to dip below the 20-day EMA ($467). This suggests accumulation at lower levels. If the price again bounces off the 20-day EMA, the buyers will try to thrust the BNB/USDT pair above $518.90. If they manage to do that, the pair could resume its uptrend and rally to the next target at $600.
