Bitcoin (BTC) is up above $ 1 trillion in market cap today, bringing the total crypto market cap to nearly $ 2.3 trillion. That means a full recovery of 100% from the lows of June 22nd, when total crypto market cap was down to about $ 1.15 trillion.

According to Chainalysis, the Central and South Asia and Oceania region saw a massive 706% increase in crypto transactions between July 2020 and June 2021. The total transaction value was $ 572.5 billion, which is 14% of the global transaction value.

Daily performance of the cryptocurrency market. Source: Coin360

Bank of America Corporation’s (BoA) subsidiary, BofA Securities, released a report on Oct. 4 predicting a bullish long-term picture for cryptocurrencies. The report estimates that by June 2021, around 221 million users either traded cryptocurrencies or used a blockchain application, a massive increase from 66 million users in May 2020.

The BofA report said the crypto sector was “too big to ignore,” and it encompassed “so much more” than just Bitcoin.

Could Bitcoin gain momentum and challenge the all-time high? Will this increase interest in altcoins? Let’s check out the top 10 cryptocurrency charts to find out.

BTC / USDT

Bitcoin broke and closed above $ 48,843.20 on October 4th, which was the first sign that the correction might be over. This may have resulted in short covering by the bears, resulting in a rally on October 5th and today.

BTC / USDT daily chart. Source: TradingView

The bulls pushed the price above $ 52,920, invalidating the head and shoulders (H&S) pattern. The 20-day exponential moving average ($ 46,947) is up and the relative strength index (RSI) is near the overbought zone, suggesting that the bulls are in charge.

If the bulls keep the price above $ 52,920, the BTC / USDT pair could gain further momentum, rising to $ 60,000. This level could act as resistance, but if crossed the pair could challenge the all-time high of $ 64,854 ($ 64,854).

Contrary to this assumption, if price fails to hold above $ 52,920, it will indicate that demand is drying up at higher levels. The pair could then correct at $ 48,843.20.

ETH / USDT

Ether (ETH) bounced off the 50-day simple moving average ($ 3,317) on October 4th and the bulls extended the rebound on October 5th. Day SMA.

ETH / USDT daily chart. Source: TradingView

The long tail of the daily candle shows aggressive buying near the 50-day SMA. The rising 20-day EMA (3,262.50) and the RSI in positive territory show that the bulls are in control.

If buyers push the price above $ 3,676.28, the ETH / USDT pair could rise to $ 4,027.88. The bears will need to pull and hold below the 20-day EMA to open the gates for a possible decline to $ 3,000 and then to the 100-day SMA ($ 2,871).

BNB / USDT

Binance Coin (BNB) broke and closed above the overhead resistance at $ 433, but the bulls failed to build on that strength. The bears pulled the price back below $ 433 today, but the positive sign is that the bulls aggressively bought the dip, as shown by the long tail of the daily candle.

BNB / USDT daily chart. Source: TradingView

The 20-day EMA ($ 404) is sloping up and the RSI is in positive territory, suggesting that buyers have the upper hand. If the bulls push and hold the price above $ 444, the BNB / USDT pair could rise to $ 518.90.

This level could act as strong resistance again, but if the bulls can break the hurdle, momentum could pick up. Contrary to this assumption, the next stop could be the 100-day SMA ($ 377) if the price drops down from current levels and falls below the 20-day EMA.

ADA / USDT

The bulls have been unable to break the overhead hurdle at the 20-day EMA ($ 2.25) for the past few days, suggesting selling at higher levels. The long tail of today’s candle suggests that the bulls are accumulating Cardano (ADA) at lower levels.

ADA / USDT daily chart. Source: TradingView

The 20-day EMA is flattening out and the RSI is just below the middle, suggesting a balance between supply and demand. If the bulls push price above the 20-day EMA, the ADA / USDT pair could rise to $ 2.47.

Alternatively, if the price is off the 20-day EMA again, the bears will attempt to lower the pair to $ 1.94. A break and close below this support could pave the way for further decline to $ 1.60.

XRP / USDT

XRP has been stuck between the 20-day EMA ($ 1.02) and the 50-day SMA (1.10) for the past few days. This shows that bulls are buying near the 20-day EMA while bears are defending the 50-day SMA.

XRP / USDT daily chart. Source: TradingView

The 20-day EMA has started rising and the RSI has moved into positive territory, suggesting that the bulls have a slight advantage. If buyers push and hold the price above the 50-day SMA, the XRP / USDT pair could begin its march north towards $ 1.41.

On the other hand, if the price turns from current levels and falls below the 20-day EMA, the decline could deepen to the 100-day SMA ($ 0.91). A break and a close below this level could cause it to fall to $ 0.70.

SOL / USDT

Solana (SOL) fell from the 61.8% Fibonacci retracement level at $ 177.80 and fell to the 20-day EMA ($ 152) today. The bulls are currently trying to defend the 20-day EMA.

SOL / USDT daily chart. Source: TradingView

If the price rises from current levels, the bulls will attempt to push the SOL / USDT pair above $ 177.80. If they do, the pair could climb to $ 200 and then retest the all-time high of $ 216.

On the contrary, if bears drag below the 20-day EMA, the pair could fall to the 50-day SMA (USD 133) and then to the critical support at USD 116. If this level breaks, sales could intensify and the pair could crash to the 100-day SMA ($ 84).

DOGE / USDT

Dogecoin (DOGE) surged above the 20-day EMA ($ 0.22) on October 4th, suggesting the bulls are trying to make a comeback. Buyers pushed the price above the 50-day SMA ($ 0.25) on October 5th, but the bears successfully defended the downtrend line.

DOGE / USDT daily chart. Source: TradingView

Another attempt by the bulls to push price above the downtrendline is facing strong resistance today, but the positive sign is that the bulls are not giving up much ground. The 20-day EMA has gradually risen and the RSI is in positive territory, suggesting that the path of least resistance is up.

If the bulls push the price above the downtrend line and hold it, the DOGE / USDT pair could rise to $ 0.32 and then to $ 0.35. Alternatively, if the price turns down and breaks below the 20-day EMA, the pair could fall into the $ 0.21-0.19 support zone.

Related: Bank of America identifies 20 high-profile US companies with crypto exposure

DOT / USDT

Polkadot (DOT) rallied from the 50-day SMA ($ 30.21) on October 4th, but the bulls were unable to hold the higher levels. The bears pulled price back below the 50-day SMA today, but the long tail of the daily candle shows aggressive buying near $ 28.60.

DOT / USDT daily chart. Source: TradingView

The bulls will now attempt to push the price above the overhead resistance at $ 33.60. If so, the DOT / USDT pair could rise to $ 38.77. This level could act as resistance again, but if the bulls can break the hurdle the pair could start its way towards $ 49.78.

On the contrary, if the price declines from the current level of $ 33.60, the bears will try again to pull the price below the cutout. Such a move will complete the H&S pattern, which has a target of $ 12.23.

MOON / USDT

The Terra Protocol’s LUNA token hit a new all-time high on October 4th, but the long wick on the day’s candlestick showed a profit posting near the psychological level of $ 50. The token formed an inside-day candlestick pattern on October 5th, indicating indecision between bulls and bears.

LUNA / USDT daily chart. Source: TradingView

That uncertainty released to the downside today, with the LUNA / USDT pair plummeting to $ 40.38. However, lower levels attracted aggressive buying, as evidenced by the long tail of today’s candle.

The bulls will now make another attempt to push the price above $ 50 and continue the uptrend. On the flip side, the bears will seek to halt the rebound and pull the price below the 20-day EMA ($ 38.57). If so, the pair could fall to the critical support at $ 32.50.

UNI / USDT

The bulls are buying aggressively on breaks to the 20-day EMA ($ 24.33), as evidenced by the long wick on the candle for the past two days. Today the bears pulled Uniswap (UNI) below the 20-day EMA, but the bulls defended the 100-day SMA ($ 23.47).

UNI / USDT daily chart. Source: TradingView

The gradually rising 20-day EMA and the RSI in positive territory suggest a small advantage for buyers. When the bulls push price above the neckline and close, the inverse H&S pattern is completed. This positive setup has a target of $ 36.98.

Contrary to this assumption, this suggests that demand dries up at higher levels as the price drops from current levels or cutout and falls below $ 22. The UNI / USDT pair could then fall to $ 18.

Market data is provided by HitBTC Exchange.

The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every step of investing and trading involves risk, so you should do your own research when making a decision.

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