Bitcoin’s strong rebound (BTC) and the march towards psychological levels at $ 50,000 has improved general sentiment in the crypto sector. This has brought the total crypto market cap to over $ 1.9 trillion.

Glassnode data shows a sharp surge in the dominance of Bitcoin transactions from over $ 1 million in recent months. The on-chain analytics firm found in its report that the $ 1 million to $ 10 million group’s transactions rose when Bitcoin corrected to $ 29,000 in July. This suggests that institutional investors may have bought what is “pretty cheap for the price”.

Daily performance of the cryptocurrency market. Source: Coin360

Further evidence of possible institutional purchases was provided by CryptoQuant data, which shows that bitcoin reserves on the derivatives exchanges have fallen to 1.256 million bitcoin, the lowest level since May 11 of 2020.

Given mounting signs of institutional accumulation, could bullish momentum continue to pick up in the next few days, or is it high time to make gains? Let’s check out the top 10 cryptocurrency charts to find out.

BTC / USDT

The bears have been trying to push the price back below the 200-day simple moving average ($ 45,091) for the past two days, but the bulls have held up.

BTC / USDT daily chart. Source: TradingView

The 20-day exponential moving average (41,010) is up and the relative strength index (RSI) is in the overbought territory, suggesting the bulls are in control.

If buyers drive the price above $ 46,700, the BTC / USDT pair will likely begin its journey towards the $ 50,000 to $ 51,500 resistance zone. The bears will try to stop the rally in this zone, but if the bulls can meet the challenge the pair could rise to $ 60,000.

If bears pull price back below the 200-day SMA, the pair could fall to the 20-day EMA. If the price recovers from the 20-day EMA, the bulls will make another attempt to start the uptrend.

Conversely, a break below the 20-day EMA could open the doors for a drop to the nearest support at $ 36,670. This is an important level for the cops to defend because when it cracks the bears will sense an opportunity.

ETH / USDT

The strong rally in Ether (ETH) on August 9th shows that the bulls have flipped the $ 3,000 mark into support. This level is likely to serve as a floor for future declines.

ETH / USDT daily chart. Source: TradingView

The bulls are trying to resume the uptrend today. The ETH / USDT pair could now rebound into the resistance zone of $ 3.4441.73 to $ 3,587.06 where the bears are likely to be a major challenge.

If the price drops down from this zone but rebounds from $ 3,000, it suggests that the bulls are buying on dips. That will improve the chances of a rally to $ 4,000.

Alternatively, if bears pull price below the 20-day EMA ($ 2,712), it suggests that the current breakout was a bull trap. The pair could then fall to the 200-day SMA ($ 2,229).

BNB / USDT

Binance Coin (BNB) rebounded from the moving averages on August 9 and began its upward journey towards the resistance of the large range of $ 211.70 to $ 433. The bears are likely to aggressively defend the $ 433 level.

BNB / USDT daily chart. Source: TradingView

However, unless the bulls give up much near the $ 433 mark or buy the drops to the 20-day EMA ($ 338), the likelihood of a break above $ 433 increases. If so, the BNB / USDT pair could rise to $ 520 and then to $ 600 later.

On the contrary, if the price drops from current levels or from overhead resistance and falls below the $ 340 mark, it suggests that the range action could continue for a few more days.

ADA / USDT

The bears attempted to stop the Cardano (ADA) relief rally at the USD 1.50 resistance but failed to pull the price back below the 20-day EMA (USD 1.42). This indicated that the bulls were not posting gains as they expected the rally to continue.

ADA / USDT daily chart. Source: TradingView

The ADA / USDT pair rose above $ 1.50 on August 10 and may now rebound to overhead resistance at $ 1.94. This level could attract profit bookings and if the price deviates the bears will attempt to pull the price back to $ 1.50.

In this case, the couple could extend their range promotion by a few days. On the contrary, if the bulls push the price above $ 1.94, the pair could challenge the all-time high of $ 2.47. A breakout and a close above this level indicate a resumption of the uptrend.

XRP / USDT

The bulls successfully retested the breakout level at $ 0.75 on August 9, pushing XRP back above the 200-day SMA ($ 0.80). The altcoin could now rebound to the downtrendline of the descending channel, where the bears could build stiff resistance.

XRP / USDT daily chart. Source: TradingView

If price turns down from the downtrendline but rebounds from the 20-day EMA ($ 0.75), it suggests that bulls are buying on dips. A breakout and close above the descending channel signal a possible trend reversal.

The initial upside target is at $ 1.07 and if the bulls push the price above this resistance the upside move could hit $ 1.26. Alternatively, if the price drops from the current level or the downtrend line and falls below $ 0.69, it indicates that the downtrend remains intact.

DOGE / USDT

Dogecoin (DOGE) moved down from the overhead resistance at $ 0.29 on August 8, but the correction was short-lived as the price rallied again on August 9. The bulls will now try to push the price above the overhead resistance.

DOGE / USDT daily chart. Source: TradingView

If successful, the DOGE / USDT pair could rise to $ 0.35. This level can act as strong resistance, but if the bulls break this hurdle, the upside move could hit $ 0.45. The 20-day EMA ($ 0.22) has started to move higher and the RSI is just below the overbought zone, suggesting that the path of least resistance is up.

On the flip side, the pair could fall to the 20-day EMA if the price moves down from $ 0.29. If price bounces off this support, the bulls will make another attempt to push the price above $ 0.29. Conversely, a break below the 20-day EMA could hold the pair between $ 0.21 and $ 0.29 for a few days.

DOT / USDT

The bears have been trying to stop the polkadot (DOT) rebound from overhead resistance at USD 21 for the past few days, but the bulls haven’t given up much ground. This suggests that bulls will buy on every small decline.

DOT / USDT daily chart. Source: TradingView

The rising 20-day EMA ($ 18.18) and the RSI in the overbought territory suggest that the bulls are in control. If buyers hold the price above $ 21, the DOT / USDT pair could begin its journey to overhead resistance at $ 26.50.

If the price goes down from $ 26.50, the pair could drop to $ 21 and stay between those two levels. A breakout and close above $ 26.50 indicates the beginning of a new uptrend that could hit $ 31.28. The bears will have to pull the price back below $ 16.93 to take the advantage in their favor.

UNI / USDT

Uniswap (UNI) moved down from the overhead resistance at USD 30 on Aug 10, but the bears were unable to sustain the lower levels. This suggests that bulls will buy on every small decline.

UNI / USDT daily chart. Source: TradingView

If the bulls push the price above $ 30 and close, the UNI / USDT pair could begin its march north towards $ 37. A break above this resistance could open the way for a retest of the all-time high at $ 45.

However, the RSI is in the overbought territory, suggesting that the rally could be overdrawn in the short term. This could pull back on the 200-day SMA ($ 26). A strong rebound from this support will suggest that the bulls are in charge. The bears will have to pull and hold the price below $ 23.45 to get the upper hand.

Related: The downturn in the US dollar is helping Bitcoin bulls ahead of the BTC price showdown of $ 50,000

LINK / USDT

The recovery rally at Chainlink (LINK) has reached the critical overhead resistance zone at $ 26.48 and the 200-day SMA ($ 27.86) where the bears are likely to be a major challenge.

LINK / USDT daily chart. Source: TradingView

If the price moves down out of this zone, the LINK / USDT pair could fall again to the 20-day EMA (USD 22.37). A strong rebound from this support will suggest that sentiment has turned positive and the bulls will then make another attempt to break the overhead hurdle.

A breakout and close above the 200-day SMA suggests the bears have lost their grip. The pair could then rise to $ 32 and later to $ 35.33. Conversely, a break and close below the USD 22.07 support suggests that bullish momentum has weakened.

SOL / USDT

The bears’ failure to keep Solana (SOL) below $ 38.10 on August 9 sparked further buying, pushing the price to overhead resistance at $ 44.

SOL / USDT daily chart. Source: TradingView

If the bulls push the price above $ 44, the SOL / USDT pair could rise to psychological resistance at $ 50 and then retest the all-time high at $ 58.38. A breakout and close above this resistance signals the resumption of the uptrend.

The rising 20-day EMA ($ 35.59) and the RSI in the overbought territory suggest that the bulls have the upper hand. This positive view will be invalidated if the price drops from current levels and falls below the 20-day EMA. That could push the price down to $ 32 and then down to the 200-day SMA ($ 26.81).

The views and opinions expressed herein are solely those of the author 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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