Originally published on: September 29, 2024
BitcoinBTC’s hesitation after breaking above $65,000 may have some traders on edge, but the optimism remains palpable as buyers hold their ground, anticipating further upward movement. Recent data shows significant flows into United States-based spot Bitcoin exchange-traded funds, with a positive sentiment reflected in the greed territory on the Crypto Fear & Greed Index.
The increase in retail traders entering the crypto market is evident in rising downloads of Coinbase’s official app, signaling a shift in market dynamics. Could this spark a rally for Bitcoin and select altcoins? Let’s dive into the top 5 cryptocurrencies showing strength on the charts.
Bitcoin continues to hold above the $65,000 breakout level, with indicators pointing to bullish control. The possibility of a rally to $70,000 is on the horizon, while strong support lies at the 20-day EMA.
XRPXRP is forming an ascending triangle pattern, suggesting a potential rally towards $0.74 if the $0.64 resistance is breached convincingly. Bears may try to defend this level, but a breakthrough could propel XRP to $0.90.
BittensorTAO has shown resilience above the $530 level, with a potential uptrend resumption towards $720 if it clears $600. Support at $530 remains critical for bulls to maintain control.
THORChainRUNE surged past the $5 resistance, setting the stage for a new uptrend towards $7. Pullbacks may find support at $5 before further gains, with indicators favoring buyers.
SeiSEI’s breakout above $0.43 indicates bullish intent, with a path towards $0.60 and $0.70 if support holds. A dip below $0.43 may signal a short-term reversal.
As traders navigate these exciting opportunities in the crypto market, staying informed and vigilant will be key to maximizing potential gains. Embrace the bullish momentum and keep a close eye on key levels for these cryptocurrencies.
