Bitcoin (BTC) eventually broke above the $ 50,500 resistance and Ether (ETH) surged above the $ 4,000 mark. This suggests that interest in cryptocurrencies is growing and several legacy financial firms are taking steps to meet this growing demand.

One of the world’s largest independent wealth managers, Franklin Templeton, has posted new applications for middle to senior positions in crypto trading and research, according to LinkedIn job postings.

In Japan, the financial conglomerate SBI Holdings is planning to set up one of the country’s first crypto funds by the end of November. Tomoya Asakura, director and senior managing executive officer at SBI, said the launch of a second fund would be considered based on the success of the first fund.

Daily performance of the cryptocurrency market. Source: Coin360

As crypto traders cheer the recent surge in several altcoins, JPMorgan analysts have warned their clients that the altcoin rally and non-fungible tokens (NFT) are getting frothy.

The analysts said the altcoins share of crypto market trading has increased from 22% in early August to 33%, which is high compared to historical standards. They believe the reason is “foam and retail investor ‘mania” rather than a structural uptrend. “

Could Bitcoin hold above $ 50,500 and continue its upward trend, or will Altcoins remain in focus? Let’s check out the top 10 cryptocurrency charts to find out.

BTC / USDT

The bears successfully defended the USD 50,500 resistance on September 2nd but failed to pull the price back below the downtrend line and hold it. This could have led to buying from the bulls who propelled Bitcoin above $ 50,500 today.

BTC / USDT daily chart. Source: TradingView

If buyers keep the price above $ 50,500, the BTC / USDT pair could rise to $ 60,000. This level could act as strong resistance again, but if the bulls can push the price above it, the pair could challenge the all-time high of $ 64,854.

When bulls drive the relative strength index (RSI) above the downtrend line, the negative divergence becomes invalid. This, along with the rising 20-day exponential moving average ($ 47,584), suggests that the path of least resistance is up.

This bullish view will be void if price drops from current levels and falls below the 200-day simple moving average ($ 46,083). That could push the price down to $ 42,451.67.

ETH / USDT

Ether gained momentum after jumping above $ 3,377.89 and hitting $ 4,000 today. If the bulls keep price above this psychological level, the largest altcoin could challenge the all-time high of $ 4,372.72.

ETH / USDT daily chart. Source: TradingView

The rising 20-day EMA ($ 3,344) and the RSI in the overbought territory suggest that the bulls are in control. If buyers push the price above $ 4,372.72, the ETH / USDT pair could begin its journey towards the critical $ 5,000 level.

This may not be easy as bears are likely to have other plans. You are likely to build strong resistance in the $ 4,000 to $ 4,372.72 zone. If the price turns down from this zone and drops below $ 3,700, the pair may drop to the 20-day EMA.

A strong rebound from this support will suggest sentiment remains bullish. Buyers will then try to continue the uptrend. Conversely, a break and close below the 20-day EMA is the first sign that the bulls may lose their footing.

ADA / USDT

Cardano (ADA) broke the $ 3 mark on September 2nd, but the bulls were unable to hold higher levels, as evidenced by the long wick on the daily candle. Although the price fell back below $ 2.97 today, the bulls bought the decline and are again trying to push the price above $ 3.

ADA / USDT daily chart. Source: TradingView

A breakout and close above USD 3.10 signal the resumption of the uptrend. The ADA / USDT pair could then rise to $ 3.50. The 20-day EMA ($ 2.58) is favoring the bulls, but the negative divergence in the RSI suggests that bullish momentum may be wearing off.

If the bulls fail to push price above the overhead resistance, the pair could fall to the 20-day EMA. This is an important level that the cops have to defend. A strong rebound from this will suggest that sentiment remains positive.

Conversely, a break below the 20-day EMA could pull the price to the breakout level at $ 2.47. Breaking below this support could initiate a deeper correction.

BNB / USDT

Binance Coin (BNB) was trading between the 20-day EMA ($ 456) and the overhead resistance at $ 518.90. The long wick on the September 2 candle suggests bears are selling above $ 500, but the positive sign is that the bulls aren’t giving up much ground.

BNB / USDT daily chart. Source: TradingView

Buyers will try again to push and hold the price above $ 518.90. If they do that, the BNB / USDT pair could gain momentum, rising to $ 600. This psychological level can act as resistance, but if the bulls break this hurdle the rally could extend to $ 680.

Conversely, if the price turns down from the overhead resistance and falls below the 20-day EMA, the pair could slide to $ 433. A break below this level suggests that the bears have overwhelmed the bulls. The pair can then drop to the 200-day SMA ($ 375).

XRP / USDT

The bulls pushed XRP above the downtrend line on September 2nd, invalidating the evolving bearish descending triangle pattern. The bears attempted to drag and hold the price below the downtrend line today but failed.

XRP / USDT daily chart. Source: TradingView

If the bulls keep the price above the downtrend line, the XRP / USDT pair could rise to $ 1.35. This level can act as a resistance, and if the price deviates from it, the pair can trade between $ 1.05 and $ 1.35 for a few days.

The 20-day EMA ($ 1.15) has risen and the RSI has risen above 64, suggesting that the bulls have the upper hand. A breakout and close above $ 1.35 could pave the way for a rally to $ 1.66. The bears will have to pull the price below $ 1.05 to signal a comeback.

SOL / USDT

The bears tried to stop the Solana (SOL) uptrend at USD 130, but the bulls were in no mood to give way. Buyers didn’t let the price drop below $ 100 psychological support.

SOL / USDT daily chart. Source: TradingView

Buying resumed September 2nd and the bulls extended the SOL / USDT pair to a new all-time high today. Vertical rallies are seldom sustainable and usually result in sharp declines. The RSI above 88 also indicates that the pair is hyperextended for the short term.

If the price falls from the current level or down from $ 150, the initial support at the 38.2% Fibonacci retracement level is at $ 115.75.

A strong rebound from this level indicates strength and increases the likelihood of a break above $ 150. The next upside target is $ 166.97. On the contrary, a break below $ 115.75 could push the price to the 50% retracement level of $ 106.29.

DOGE / USDT

Dogecoin (DOGE) broke above the 20-day EMA ($ 0.28) on September 1st and bulls pushed the price above the downtrend line of the falling wedge pattern on September 2nd. However, the long wick on the day candle showed that the bears are selling at a higher level.

DOGE / USDT daily chart. Source: TradingView

The DOGE / USDT pair has rallied from the 20-day EMA and the bulls have pushed the price above the wedge. If buyers hold the price above $ 0.31, the pair could climb to $ 0.35. This level is likely to act as a strong drag.

If the price moves down from $ 0.35, the pair could fall back to the 20-day EMA. A strong rebound from this will suggest that the mood is positive. A breakout and closing price above $ 0.35 could pave the way for an uptrend to $ 0.45.

On the flip side, if the price turns down and falls below the 20-day EMA, the pair may fall to the support line of the wedge.

DOT / USDT

Polkadot (DOT) has held above the breakout level at $ 28.60 for the past three days, indicating the beginning of a new uptrend. The rising moving averages and RSI in the overbought area indicate an advantage for buyers.

DOT / USDT daily chart. Source: TradingView

If the bulls push the price above $ 33.84, the DOT / USDT pair could begin its journey north towards $ 41.40 and then to the pattern target at $ 46.83.

On the other hand, if the price drops from the current level, the price may retest the breakout level at $ 28.60. When the bulls turn this level into support, it can serve as a launch pad for the next leg of the upward move.

A break and close below the 20-day EMA ($ 27.12) is the first sign that the current breakout may have been a bull trap.

Related: How to Prepare for the End of the Bull Run, Part 1: Timing

UNI / USDT

Uniswap’s (UNI) upside moved down from $ 31.41 on September 2nd, suggesting the bears haven’t thrown in the towel yet. The price action of the past few days has created a negative divergence on the RSI, suggesting that bullish momentum may be wearing off.

UNI / USDT daily chart. Source: TradingView

If the price rebounds from the 20-day EMA ($ 27.91), the bulls will make another attempt to push the UNI / USDT pair above the overhead resistance at $ 31.41. If successful, the pair can begin their journey at $ 37.52 and then $ 42.25.

Alternatively, if bears drop the price below the moving averages, the pair can drop to $ 25 and stay in the range for a few more days. A break and close below the $ 25 to $ 23.45 support zone signals that the bears are back in the game.

LINK / USDT

Chainlink (LINK) has been anywhere between $ 24 and $ 30 for the past few days. The bulls pushed the price above the overhead resistance on September 2nd but failed to hold the higher levels.

LINK / USDT daily chart. Source: TradingView

The bulls bought the dip again today and pushed the price above the overhead resistance. If buyers hold the price above $ 30, the LINK / USDT pair could rise to $ 36, and if crossed that level, the upward move could hit $ 43.50, which is the intraday high of Sept. May corresponds to.

The 20-day EMA ($ 26.99) has started rising and the RSI is in positive territory, suggesting that buyers have the upper hand. Contrary to this assumption, this suggests that if the price goes down and drops below $ 30, the range action may continue for a few more days.

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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