Bitcoin (BTC) and most of the major altcoins appear to be hovering around their respective overhead resistance. This suggests that some investors may continue to sell at higher levels.

However, 21st Paradigm co-founder Dylan LeClair said on-chain data shows “large transfer volumes from over-the-counter (OTC) switches in the past week”. Cointelegraph also recently highlighted a historic outflow of 57,000 BTC from the exchanges on July 28th.

Ecoinometrics also cited on-chain data to show that “whales” and “small fish” amassed Bitcoin as the price rebounded from $ 29,400 to over $ 40,800 this week.

Daily performance of the cryptocurrency market. Source: Coin360

Institutional investors shouldn’t be left behind in their plans to amass more Bitcoin. MicroStrategy, which holds approximately 105,085 Bitcoin, said in its second quarter report that the company intends to “add additional capital to our digital asset strategy.”

Wealthfront, a popular US robo-investment firm with $ 25 billion under management

Will cryptocurrencies recover more strongly given the increasing demand from small investors and wealthy individuals? Let’s check out the top 10 cryptocurrency charts to find out.

BTC / USDT

Bitcoin formed a doji candlestick pattern on July 29, indicating indecision between the bulls and bears near the $ 40,000 mark. That uncertainty eased down for a short time, and if price doesn’t hold its recent surge above $ 40,000, the price could fall to $ 36,670.

BTC / USDT daily chart. Source: TradingView

The moving averages have made a bullish crossover and the relative strength index (RSI) is in positive territory, suggesting that the bulls have the upper hand. If the price rebounds from $ 36,670, it suggests that the bulls have flipped that level into support.

Buyers will then try again to push the price above the overhead resistance zone from $ 41,330 to $ 42,451.67. This may not be easy as bears will attempt to aggressively defend this zone.

If the price deviates from the zone, the BTC / USDT pair could stay between $ 36,670 and $ 42,451.67 for a few more days. A breakout and close above $ 42,451.67 indicates the beginning of a new uptrend.

The bears will be back in the driver’s seat if they can bring the price back below the moving averages.

ETH / USDT

Ether (ETH) hit the downtrendline today, but the bears are aggressively defending the resistance. The price could now drop to $ 2,200 where buyers can step in and stop the correction.

ETH / USDT daily chart. Source: TradingView

The moving averages have made a bullish crossover and the RSI is in positive territory, suggesting that the bulls have the upper hand. When price rebounds from the 20-day exponential moving average, the bulls will try again to push price above the downtrend line.

If successful, the ETH / USDT pair could rise to $ 2,600 and then to $ 3,000. This positive view will be invalidated if the price drops from the current level and falls below the moving averages. Such a move could bring the price down to $ 2,000 and all the way down to $ 1,728.74.

BNB / USDT

The bulls pushed Binance Coin (BNB) above the 50-day simple moving average ($ 310) on July 29, but they failed to challenge the overhead resistance at $ 340. This suggests that the purchase is drying out at higher levels.

BNB / USDT daily chart. Source: TradingView

The bears will now try to take advantage of the lack of demand to pull the price below the 20-day EMA ($ 305). Breaking this support could result in a drop to the trendline and off the July 20th low at $ 254.52.

On the contrary, when the price recovers from the 20-day EMA it will suggest a buy at dips. The bulls will then make another attempt to break the overhead resistance at $ 340. If they do, the BNB / USDT pair could climb to $ 379 and as high as $ 400.

ADA / USDT

The bulls’ failure to push the Cardano price (ADA) above the 50-day SMA ($ 1.32) suggests the bears are aggressively defending the resistance.

ADA / USDT daily chart. Source: TradingView

If the price falls below the 20-day EMA ($ 1.25), short-term traders can close out their positions, which could push the price down to $ 1.10 and later to $ 1. A break below $ 1 could result in a long liquidation.

On the flip side, the bulls will try again to push the price above the downtrend line if the price rebounds from the 20-day EMA. If so, the DOT / USDT pair could rise to $ 1.50 where bears could again build strong resistance.

XRP / USDT

The bulls have failed to push XRP above the $ 0.75 level in the past two days, suggesting that the bears are aggressively defending that level.

XRP / USDT daily chart. Source: TradingView

The moving averages are on the verge of a bullish crossover and the RSI is in positive territory, suggesting that the bulls have the upper hand. If the bulls don’t let the price drop below the 20-day EMA ($ 0.64), the XRP / USDT pair could rise above $ 0.75. This will complete a double floor pattern and clear the way for a possible rally to $ 1.07.

This positive view will be invalidated if the price goes down and falls below the moving averages. The bears will then try to pull the price down to $ 0.59 and then to $ 0.50. Such a movement suggests that the area-based action may continue for a few more days.

DOGE / USDT

The bears have been defending the $ 0.21 resistance for the past few days, but on the upside, the bulls haven’t given up much ground. This suggests that buyers are not closing their positions as they expect Dogecoin (DOGE) to rise.

DOGE / USDT daily chart. Source: TradingView

The flat 20-day EMA ($ 0.20) and the RSI above 45 suggest a balance between supply and demand. This equilibrium will tilt in the bulls’ favor if they can push and hold the price above the 50-day SMA ($ 0.23). This could pave the way for a rally to $ 0.28 and then to $ 0.33.

Conversely, the DOGE / USDT pair can drop to $ 0.15 if the price moves down from current levels and falls below $ 0.18. This is an important level for the bulls to defend because if it weakens the pair could panic selling and fall to $ 0.10.

DOT / USDT

The bulls pushed polkadot (DOT) above the 20-day EMA ($ 14.15) on July 27, but failed to break the 50-day SMA ($ 16.05) hurdle. This suggests that demand is drying up at higher levels.

DOT / USDT daily chart. Source: TradingView

The price was down against the 50-day SMA today and the bears will now seek to break the DOT / USDT pair below the 20-day EMA. If they do that, the pair could fall to $ 13. Breaking below this support could lower the pair to $ 10.37.

Contrary to this assumption, the bulls will try again to push price above the overhead resistance at $ 16.93 if price rebounds from the 20-day EMA. In this case, it indicates a change in the short-term trend. The pair could then begin their journey at $ 20 and later at $ 26.50.

UNI / USDT

The bulls are trying to push Uniswap (UNI) above the downtrend line, but the long wick on the daily candle suggests that the bears have other plans.

UNI / USDT daily chart. Source: TradingView

If the price is falling from current levels but remains above the 20-day EMA ($ 18.50), it indicates that bulls are buying on dips. This increases the likelihood of breaking above the downtrend line and invalidates the descending triangle pattern.

The UNI / USDT pair could then climb to $ 24, and if crossed that level the upside move could hit $ 30. Conversely, if bears pull the price below the moving averages, the pair could fall to $ 17.24 and then to the critical support at $ 13.

Related: Who will win gold at the Crypto and Blockchain Olympics?

BCH / USDT

Bitcoin Cash (BCH) faces strong resistance at $ 546.83. This suggests that the bears are trying to defend range resistance and extend consolidation for a few days.

BCH / USDT daily chart. Source: TradingView

If bears drag the price below the moving averages, the BCH / USDT pair could see further selling and fall to $ 441.17. Breaking below this level will open the doors to another slide to the critical support at $ 383.53.

On the flip side, if the bulls do not allow the price to drop below the moving averages, it increases the prospect of a break above $ 546.83. When that happens, the double bottom pattern will complete and the BCH / USDT pair could begin its journey towards the target target at USD 710.13.

LTC / USDT

Despite pushing Litecoin (LTC) above the 50-day SMA ($ 137) on July 28, the bulls failed to break the overhead resistance hurdle at $ 146.54. This suggests that the bears haven’t given up yet.

LTC / USDT daily chart. Source: TradingView

If sellers pull price below the 20-day EMA ($ 130), the LTC / USDT pair could begin its downtrend to critical support at $ 103.83. Such a move suggests the pair could stay in the range for a few more days.

Alternatively, if price rebounds from the 20-day EMA, the bulls will make another attempt to push the price above $ 146.54. If successful, the pair will complete a double bottom pattern that has a target at $ 189.25.

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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