According to Buy Bitcoin Worldwide, asset managers and companies currently hold over 6% of the circulating supply of Bitcoin (BTC). A breakdown of the data shows that bitcoin fund issuers and asset managers hold about 4% of the supply of bitcoin, public corporations hold almost 1%, and private companies hold about 0.83% of the supply of cryptocurrency.

It’s clear that institutional investors have continued to add crypto to their portfolios, and Adam Proctor, the executive director of billionaire Simon Nixon’s investment firm Seek Ventures, said the company plans to increase the “allocation to crypto” as they do it for you “Important area” hold for the future. “

Daily performance of the cryptocurrency market. Source: Coin360

CNBC Mad Money host Jim Cramer recently said he was a “believer in crypto” and recommended that investors put 5% of their investment portfolio in digital currencies.

Will Bitcoin break the psychological barrier of $ 50,000, causing a rush to buy in the industry? Let’s check out the top 10 cryptocurrency charts to find out.

BTC / USDT

Strong resistance near the $ 50,000 mark could have led to profit posting from short-term traders on Aug 26. This pulled Bitcoin below the support line of the rising wedge pattern, but the bears were unable to capitalize on this move and the price below the moving average.

BTC / USDT daily chart. Source: TradingView

The bulls pushed the price back into the wedge today. If the rebound continues, the BTC / USDT pair could gradually move towards the overhead resistance zone of $ 50,000 to $ 50,500. A breakout and close above this zone indicate the resumption of the uptrend.

The pair could then climb to the resistance line of the wedge, where bears could build up stiff resistance again. If the price deviates from this resistance, the pair may continue to rise within the wedge.

A break in the wedge signals an increase in momentum. That could rally to $ 60,000.

The relative strength index (RSI) has fallen below a symmetrical triangle pattern, indicating a marginal advantage for the bears. If the price drops from current levels and falls below the moving averages, the pair can drop to $ 42,451.67.

ETH / USDT

Ether (ETH) has consolidated in a tight range between $ 3,000 and $ 3,335 for the past few days. The 20-day exponential moving average ($ 3.097) is flattening out and the RSI is just above the middle, suggesting an equilibrium between supply and demand.

ETH / USDT daily chart. Source: TradingView

The price bounced back from the 20-day EMA today and the bulls will now try to push the price above $ 3,335. When that happens, it suggests that the bulls have amassed the ETH / USDT pair within the range. The pair could then rise to $ 3,670 and later to $ 4,000.

A breakout and a close below $ 3,000 suggests the bears have overpowered the bulls. This could lead to further selling as multiple stop losses can be hit. The pair could then fall to the nearest support at the 200-day simple moving average ($ 2,366).

ADA / USDT

Generally, the outbreak is retested from a critical level, as shown in Cardano (ADA). The price fell from an all-time high of $ 2.97 on Aug 23 to the breakout level of $ 2.47 on Aug 26.

ADA / USDT daily chart. Source: TradingView

The ADA / USDT pair rebounded from $ 2.47 today, suggesting sentiment remains positive and traders buy on every small decline. The bulls will make another attempt to push the price above the overhead resistance at $ 2.97.

If successful, the pair could rise to $ 3.50. The rising 20-day EMA ($ 2.29) and the RSI in the overbought territory suggest an advantage for buyers.

Conversely, if the price drops from current levels or from overhead resistance, it indicates that the bulls are closing their positions on rallies. A break and close below the 20-day EMA signal the beginning of a deeper correction.

BNB / USDT

Binance Coin’s (BNB) intraday high on May 19 was $ 516.50 and that level should act as a strong resistance. The bulls pushed the price above this resistance on August 26, but failed to hold the altcoin above it.

BNB / USDT daily chart. Source: TradingView

If buyers don’t give in much from current levels, it will indicate strength. The cops will then make one more attempt to overcome the overhead hurdle. If they do, the BNB / USDT pair could rise to $ 600.

The rising 20-day EMA ($ 432) and the RSI in positive territory suggest an advantage for buyers. This positive view will be invalidated if the price goes down and falls below the 20-day EMA. This could lead to a decline to the 200-day SMA ($ 362).

XRP / USDT

XRP has again fallen to the breakout level at $ 1.07. This is an important level for the bulls to defend because if it cracks the altcoin could see a long liquidation and fall to the nearest support at the 200-day SMA ($ 0.86).

XRP / USDT daily chart. Source: TradingView

The flattening 20-day EMA ($ 1.08) and the RSI just above the middle suggest that the bulls may be losing control.

If the price recovers from current levels, the XRP / USDT pair could climb onto the downtrend line. A breakout and close above the downtrendline increases the likelihood of a rally to the overhead resistance at $ 1.66.

On the other hand, if the price starts to deviate from the downtrendline again, the pair may be at greater risk of initiating a deeper correction.

DOGE / USDT

Dogecoin (DOGE) fell below the 20-day EMA ($ 0.28) on Aug 27, suggesting that supply is outstripping demand. The bulls are currently trying to push the price back above the overhead resistance at $ 0.29.

DOGE / USDT daily chart. Source: TradingView

If the DOGE / USDT pair breaks the downtrendline, bullish momentum could increase. The pair could then rise to $ 0.35 and if that level is exceeded the next move could lead to overhead resistance at $ 0.45.

On the contrary, if the price is pulling down from current levels, it suggests that the bears are aggressively defending at $ 0.29. The pair could then fall to $ 0.21. A strong rebound from this support could hold the pair between $ 0.21 and $ 0.29 for a few days.

DOT / USDT

Polkadot (DOT) moved down from the overhead resistance at $ 28.60 and corrected to the 20-day EMA ($ 24.03). The strong rebound from this level shows that bulls pile up on dips.

DOT / USDT daily chart. Source: TradingView

If the rally continues, the bulls will attempt to push the price above the overhead resistance at $ 28.60. If the DOT / USDT pair holds above $ 28.60 it will complete a v-bottom which is targeted at $ 46.83.

Alternatively, if the rally fizzles out, the bears will seek to bring the price below the 20-day EMA. If so, the pair could fall to the next strong support at $ 18. If the price rebounds from these levels, the pair can stay in a range of $ 18-28.60 for a few days.

SOL / USDT

The long tail of the Solana (SOL) candle on August 25th and 26th shows strong buying at lower levels. A shallow correction after a sharp move higher is a sign of strength as it suggests that traders are not closing their positions and buying on small drops.

SOL / USDT daily chart. Source: TradingView

The bulls pushed the price above the all-time high of $ 82 today. If buyers hold the price above $ 82, the SOL / USDT pair could begin its journey towards the next psychological barrier at $ 100.

The rising 20-day EMA ($ 63) and the RSI in the overbought territory suggest that the bulls are in control. If the price fails to hold above $ 82, the pair could remain in a range for a few days. The bears will need to pull the price below $ 58.38 to break bullish momentum.

Related: Bitcoin could hit $ 30,000 or $ 100,000 this year as analysts warn that “the next few months are key”

UNI / USDT

Uniswap (UNI) fell below the moving averages on August 24th, indicating weakness. The bulls attempted to push the price back above the moving averages on August 25th and 26th, but were unable to hold the higher levels.

UNI / USDT daily chart. Source: TradingView

The bulls are currently trying again to push price above the moving averages. If they do that, the UNI / USDT pair could rise to $ 30. A break out of the overhead resistance zone of $ 30- $ 31.25 could signal the start of a new uptrend.

Conversely, the UNI / USDT pair could fall to the critical support at USD 23.45 if the price deviates from the moving averages. A strong rebound from this level could hold the pair between $ 23.45 and $ 30 for the short term. The flat moving averages and the RSI near the middle also suggest a consolidation for a few days.

MOON / USDT

The Terra Protocol’s LUNA token has consolidated between $ 26 and $ 32 in the past few days. Although the bulls pushed the price above $ 32 on August 19th and 24th, they were unable to sustain the higher levels.

LUNA / USDT daily chart. Source: TradingView

The LUNA / USDT pair bounced back from support today and the bulls will try again to continue the uptrend. If the price closes above the $ 32 to $ 34.67 resistance zone, the pair could rise to $ 43.

The rising 20-day EMA ($ 24.44) and the RSI in the overbought territory suggest that the path of least resistance is on the upside. This bullish view will be dashed if the price drops from current levels or overhead resistance and drops below the breakout level at $ 22.40.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph. Every investment and trading movement carries risks. You should do your own research when making a decision.

Market data is provided by HitBTC Exchange.

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