Bitcoin (BTC) and most of the major altcoins are trying to break above their respective overhead resistance levels, suggesting the bulls are returning.

Bybt data shows the grayscale premium rose to -5.88% on July 27, the closest value from zero since May 25. This suggests that institutional investors may have started building positions again through the Grayscale Bitcoin Trust.

Another institutional investment product showing potential return for buyers is Canada’s Purpose Bitcoin ETF, whose assets under management rose to $ 1.1 billion on July 27, the highest since May 13.

Daily performance of the cryptocurrency market. Source: Coin360

The Swiss private bank Vontobel announced in its half-yearly financial report that its investment product Bitcoin Tracker Certificates had aroused great interest among customers. Vontobel CEO Zeno Staub told Bloomberg that his wealthy clients have invested some of their wealth in cryptocurrencies.

Peter Doyle, co-founder of Horizon Kinetics, also told the Financial Times that the global economy is at a tipping point due to the pandemic and rising debt. This means “either default or currency devaluation”. Hence, Doyle said that people should be exposed to cryptocurrencies.

If institutional interest returns to Bitcoin, could the rally continue or will the bears block the rebound again near the overhead resistance levels? Let’s check out the top 10 cryptocurrency charts to find out.

BTC / USDT

Bitcoin’s long wick on the July 26 candle shows that bears were aggressively selling near $ 40,550, but the positive sign is that the bulls flipped the $ 36,670 mark into support on July 27. This suggests a possible shift in sentiment from selling on rallies to buying on dips.

BTC / USDT daily chart. Source: TradingView

The bulls pushed the price above $ 40,550 today, but the wick on today’s candle suggests the bears have not given up yet. They will again try to stop the rebound in the overhead resistance zone at $ 41,330 to $ 42,451.67.

If the price drops from current levels or the overhead zone, the BTC / USDT pair could fall back to $ 36,670. A strong rebound from this level suggests that the bulls aren’t waiting for a bigger drop to get in.

The pair could then consolidate between $ 36,670 and $ 42,451.67 over the next few days, improving the prospect of breaking above the range. The moving averages have made a bullish crossover and the relative strength index (RSI) has risen into the overbought territory, suggesting that the bulls are back in the game.

This positive view will be invalidated if the price falls below the moving averages. With that, the wide range between $ 42,451.67 and $ 28,805 comes into play.

ETH / USDT

Ether (ETH) turned off the downtrend line on July 26th, but the bears failed to slide and keep the price below the moving averages. This suggests that bulls are buying on minor dips.

ETH / USDT daily chart. Source: TradingView

The moving averages are on the verge of a bullish crossover and the RSI has risen into positive territory, suggesting that the bulls have the upper hand. If the bulls drive price above the downtrend line, momentum could increase. That could open the doors to a possible rally to $ 3,000.

Alternatively, the ETH / USDT pair could gradually drop to the critical support at USD 1,728.74 if the price drops from current levels or the overhead resistance and falls below the moving averages.

BNB / USDT

The long wick on the July 26th candle suggests that bears were being sold at higher levels. They tried to catch the aggressive bulls by pulling Binance Coin (BNB) back below the downtrend line, but buyers did not give in.

BNB / USDT daily chart. Source: TradingView

The bulls defended the 20-day exponential moving average ($ 304) on July 27 and are trying to push the price above the 50-day simple moving average ($ 312) today. If successful, the BNB / USDT pair could climb to the overhead resistance at USD 340.

A breakout and close above $ 340 will pave the way for a possible rally to $ 400 and then to $ 433. This positive view will be invalidated if the price drops from current levels or overhead resistance and falls below the 20-day EMA. Such a move could cause it to fall to $ 254.52.

ADA / USDT

The long wick of the Cardano (ADA) candlestick on July 26 suggests that traders are selling on rallies. The bears attempted to pull and hold the price below the 20-day EMA ($ 1.25) on July 27th but failed, suggesting buying at lower levels.

ADA / USDT daily chart. Source: TradingView

This may have revived buyers who are again trying to push the price above the 50-day SMA ($ 1.33). If so, the ADA / USDT pair could gradually rise to $ 1.50. These levels can be challenging for buyers, but if they can overcome it the pair could begin their journey north towards $ 1.94.

Conversely, if the price drops from current levels or from overhead resistance and falls below $ 1.20, it suggests that bears will continue to sell at any higher level. This could re-test the critical support at $ 1.

XRP / USDT

Although bears successfully defended the 50-day SMA ($ 0.67) on July 26, they were unable to withdraw XRP below the 20-day EMA ($ 0.62). This suggests that bulls pile up on break-ins.

XRP / USDT daily chart. Source: TradingView

The continued buying in the bulls today pushed the XRP / USDT pair above the 50-day SMA for the first time since May 19th. If shoppers can break the $ 0.75 hurdle, the pair will complete a raised floor pattern. This setup has a target goal of $ 1.

The 20-day EMA is trying to move higher and the RSI has risen above 62, suggesting that the path of least resistance is up.

Contrary to this assumption, if the price drops from $ 0.75, the bears will try again to bring the price below the 20-day EMA. If successful, the pair could extend its consolidation between $ 0.50 and $ 0.75 for a few days.

DOGE / USDT

The long wick on the Dogecoin (DOGE) candlestick on July 26 suggests the bears are aggressively defending the 50-day SMA ($ 0.23). The sellers attempted to keep the price below the 20-day EMA ($ 0.20) on July 27 but failed.

DOGE / USDT daily chart. Source: TradingView

This suggests that buyers have not given up and will make another attempt to push the price above the 50-day SMA. If they do that, the DOGE / USDT pair could start a recovery rally that could hit $ 0.28 and then $ 0.33.

On the contrary, if the price drops again from the 50-day SMA, several short-term traders can close out their position. This could break below the 20-day EMA, which could pave the way for a decline to $ 0.15.

DOT / USDT

The bears attempted to lower polkadot (DOT) below the $ 13 support on July 27, but failed, suggesting bulls are rallying at lower levels.

DOT / USDT daily chart. Source: TradingView

Buyers will now try to push the price towards the overhead resistance at $ 16.93. This level could act as strong resistance again, but the flat 20-day EMA ($ 13.95) and the RSI near the middle suggest that sellers may lose control.

If the bulls do not allow the price to fall below the 20-day EMA during the next correction, the prospect of a break above $ 16.93 will improve. This could signal the start of a sustained recovery rally to $ 20 and later to $ 26.50.

This bullish view will be void if the price drops from current levels and drops below $ 13. This could result in a retest of $ 10.37.

UNI / USDT

Uniswap (UNI) turned off the downtrendline on July 26, suggesting the bears are aggressively defending this resistance. Although the price fell below the 20-day EMA ($ 18.25) on July 27, the bulls bought that dip.

UNI / USDT daily chart. Source: TradingView

Buyers will now try again to push the price above the downtrend line. If they are successful, the evolving retrograde descending triangle pattern becomes invalid. Failure of a bearish setup is a bullish sign as aggressive bears are forced to cover their short positions.

That could open the doors to a possible rally to $ 24 and then the critical overhead resistance at $ 30. Contrary to this assumption, the UNI / USDT pair could begin its downtrend towards $ 13 if the price moves down below $ 17.24.

Related: Ethereum cuts profits, Bitcoin pushed below $ 40,000 as the Fed announced plans to reduce the throttling

BCH / USDT

Bitcoin Cash (BCH) turned away from the 50-day SMA (504) on July 26, but the bulls defended the 20-day EMA (471) on July 27. This suggests an uphill battle between the bulls and the bears.

BCH / USDT daily chart. Source: TradingView

The 20-day EMA has flattened and the RSI has moved into positive territory, suggesting the bulls are trying to make a comeback. A breakout and close above $ 546.83 signals the start of a sustained recovery rally as the BCH / USDT pair will complete a double bottom pattern.

This upside move could face strong resistance at $ 650.35, but if broken the rally could hit the pattern target at $ 710.13. Contrary to this assumption, the pair could extend its range-peg action by a few days if the price breaks down from current levels and falls below the 20-day EMA.

LTC / USDT

Litecoin (LTC) fell from the 50-day SMA (USD 138) on July 26, but the positive sign is that the bulls did not let the price drop below the 20-day EMA (USD 128).

LTC / USDT daily chart. Source: TradingView

The bears should find strong resistance in the overhead zone between the 50-day SMA and $ 146.54. If the price drops down from this zone and falls below the 20-day EMA, it suggests that the range-bound action could continue for a few more days.

On the flip side, if the bulls push price above $ 146.54, the LTC / USDT pair will complete a double bottom pattern. This bullish setup has a target of $ 189.25. The RSI above 57 and the flat 20-day EMA indicate a marginal benefit for buyers.

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 involves risks. You should do your own research when making a decision.

Market data is provided by HitBTC Exchange.

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