A KPMG report titled “Pulse of Fintech H1 2021” shows that total investment in the blockchain and cryptocurrency sector rose to $ 8.7 billion in the first half of this year, more than double the transactions in the Worth $ 4.3 billion in 2020.

Anton Ruddenklau, global fintech co-leader of KPMG, said:

“Cryptocurrency and blockchain are exploding around the world. I think for the rest of this year at least, crypto will be a very hot ticket for investors. “

Separate research through blockchain market information Blockdata also shows that 55 of the 100 largest banks by assets under management have invested in crypto and blockchain companies directly or through subsidiaries.

Daily performance of the cryptocurrency market. Source: Coin360

Stephen Stonberg, CEO of Bittrex Global, told Cointelegraph that the crypto industry has become mainstream and has passed the early adoption stage. “What is more interesting to see is the growth and acceleration of the institutional adoption of cryptocurrencies. Almost all major institutions have invested in cryptocurrencies or are planning to invest in cryptocurrencies, ”added Stonberg.

Steinberg added:

“What is more interesting to see is the growth and acceleration of the institutional adoption of cryptocurrencies. Almost all large institutions have invested in cryptocurrencies or are planning to invest in cryptocurrencies. “

Will the strong institutional inflow into the crypto sector mark the next stage in the uptrend? Let’s check out the top 10 cryptocurrency charts to find out.

BTC / USDT

The bears pulled Bitcoin (BTC) below the 200-day simple moving average ($ 45,218) on Aug 12, but they were unable to hold the lower levels. The bulls pushed price back above the 200-day SMA today, suggesting buying on dips.

BTC / USDT daily chart. Source: TradingView

If buyers push the price above the resistance line of the wedge, the BTC / USDT pair could rise to $ 51,500. This level can act as resistance, but unless the bulls give up much ground the uptrend can hit $ 60,000.

The rising 20-day exponential moving average ($ 41,743) and the relative strength index (RSI) just below the overbought zone suggest the cops are in the driver’s seat.

If price deviates from the resistance line of the wedge, the bears will sense an opportunity. The first sign of weakness will be a breakout and close below the 20-day EMA. Such a move could open the doors for further decline to the critical support at $ 36,670.

ETH / USDT

Ether (ETH) fell to the breakout level of $ 3,000 on August 12, but the bears failed to seize the opportunity. The bulls bought the dip and are trying to resume the upside movement today.

ETH / USDT daily chart. Source: TradingView

The rising 20-day EMA ($ 2,784) and the RSI in the overbought territory suggest that the bulls have the upper hand. If buyers lift the price above $ 3,274, the ETH / USDT pair could rise to $ 3,587.06 and then to $ 4,000.

Contrary to this assumption, if the price goes down from $ 3,274, the pair could fall back to $ 3,000 and consolidate between these two levels for a few more days. A breakdown and a close below the 20-day EMA suggest that bullish momentum has weakened. The pair could then fall to $ 2,450.

BNB / USDT

Binance Coin (BNB) formed an inside-day candlestick pattern on August 12, indicating indecision between bulls and bears. Buyers bought at lower levels and are currently trying to resolve uncertainty in their favor.

BNB / USDT daily chart. Source: TradingView

If the bulls push the price above $ 408.72, the upside move could reach the overhead resistance at $ 433. The bears could be very challenging again at these levels and if the price deviates from this resistance the pair could fall to the 20-day EMA ($ 347).

A strong rebound from this support will suggest sentiment remains positive and traders buy on dips. That increases the likelihood of a breakout above $ 433. In that case, the BNB / USDT pair could begin its journey at $ 520 and later at $ 600. To get the upper hand, the bears will need to pull the price back below $ 340.

ADA / USDT

The long wick on Cardano’s (ADA) candlestick on August 11th shows that the bears have tried to stop the rally near the overhead resistance at $ 1.94. This was followed by an inside-day candlestick pattern on August 12, but the long tail of the day’s candlestick showed strong buying at lower levels.

ADA / USDT daily chart. Source: TradingView

The bulls pushed the price above the overhead resistance today, opening the gates for a rally to the all-time high at $ 2.47. However, the RSI has risen above 86, suggesting that the rally is overdrawn in the short term.

As a result, the ADA / USDT pair could sell at higher levels and experience a minor correction or consolidation over the next few days. A break and close below $ 1.94 could pull back to the 20-day EMA ($ 1.51).

Alternatively, if the bulls are defending the breakout level at $ 1.94, it suggests that traders are not making profits. That will improve the prospect of retesting the all-time high.

XRP / USDT

XRP broke the downtrend line of the descending channel and rose to the overhead resistance at $ 1.07 on Aug 11, but the bulls were unable to hold the higher levels. The bears pulled price back into the Channel on August 12, but the correction was short-lived.

XRP / USDT daily chart. Source: TradingView

The bulls pushed price across the channel again today, trying to break the stiff hurdle at $ 1.07. If the price breaks and closes above $ 1.07, the XRP / USDT pair could begin its journey at $ 1.26 and then at $ 1.70.

Contrary to this assumption, if the price drops from $ 1.07, the bears will try again to pull the pair back into the channel. If they do that, the next stop could be the 20-day EMA ($ 0.80).

If the price recovers from the 20-day EMA, the bulls will make another attempt to push the pair above $ 1.07. Alternatively, a breakout and a close below $ 0.75 will signal the bears an advantage.

DOGE / USDT

Dogecoin (DOGE) formed a Doji candle pattern on Aug 12. The long wick of the day candle showed that the bears are trying to defend the overhead resistance at $ 0.29. Lower levels attracted buying from the bulls attempting to push price above the overhead resistance today.

DOGE / USDT daily chart. Source: TradingView

The rising 20-day EMA ($ 0.23) and the RSI near the overbought area suggest that the path of least resistance is on the upside. A breakout and close above $ 0.29 could pave the way for a rally to $ 0.35 and then $ 0.45.

Conversely, the DOGE / USDT pair could fall to the 20-day EMA if the price breaks down from the overhead resistance. If the price recovers from this level, the bulls will make another try at $ 0.29. A break and close below $ 0.21 could signal the bears are back in the game.

DOT / USDT

The bulls pushed polkadot (DOT) above the overhead resistance at $ 21 on Aug 11, but their joy was short-lived as the bears pushed the price back below the level on Aug 12.

DOT / USDT daily chart. Source: TradingView

The bears’ failure to keep the price below $ 21 has fueled buying again and the bulls are currently trying to push the price above $ 22.45. If they do, the DOT / USDT pair could rise to the overhead resistance at $ 26.50.

The bears are likely to aggressively defend the $ 26.50 level as the 200-day SMA ($ 27.23) is just above it. Unless the bulls give way much, it suggests that buyers are not aggressively posting gains as they expect the rally to continue. A breakout and close above $ 26.50 could signal an end to the downtrend.

On the contrary, if the price turns down from current levels and falls below the 20-day EMA ($ 18.70), the pair could slide to $ 16.93.

UNI / USDT

Uniswap (UNI) moved down from the overhead resistance at $ 30 on Aug 12, but the bears were unable to bring the price below the immediate support at the 200-day SMA ($ 26.18). This suggests that bulls are buying dips.

UNI / USDT daily chart. Source: TradingView

Price rallied today and buyers are again trying to push the price above the stiff overhead resistance at $ 30. If they do, the UNI / USDT pair could rise to $ 37.

If the bulls stop the subsequent drop above $ 30, it increases the likelihood of retesting the all-time high at $ 45. The rising 20-day EMA ($ 24.80) and the RSI in the overbought territory suggest that the bulls are in control.

This positive view will be invalidated if the price drops from the current level and falls below the moving averages. Such a move signals that the pair could remain in the wide $ 13-30 range for a few more days.

Related: OpenSea trading volume explodes 76,240% YTD amid NFT boom

SOL / USDT

The long wick on Solana’s (SOL) candlestick on August 11th and 12th shows that the bears have aggressively defended the overhead resistance at $ 44. However, sellers were unable to pull the price below the $ 38.10 support, indicating a buy on dips.

SOL / USDT daily chart. Source: TradingView

The bulls pushed the price back up to the overhead resistance at $ 44 today. A breakout and close above this level could open the gates for a rally to psychological resistance at $ 50, followed by a retest of the all-time high at $ 58.38.

On the flip side, the SOL / USDT pair could fall to the 20-day EMA ($ 36.77) if the price falls from current levels. A breakdown and a close below this support suggest that the pair could extend its stay within the range by a few days.

LTC / USDT

The bulls have struggled to push Litecoin (LTC) above the overhead resistance at USD 180 for the past two days. This suggests that bears are trying to stop the recovery rally in the zone between USD 180 and the 200-day SMA (191).

LTC / USDT daily chart. Source: TradingView

If the price moves down out of this zone, the bears will seek to push the LTC / USDT pair to the 20-day EMA (USD 151). A strong rebound from this support will suggest that sentiment remains positive. A breakout and close above the 200-day SMA signals that the downtrend may have ended.

The pair could then climb to $ 225, where the bears could pose another major challenge. If the bulls flip the 200-day SMA in support after that, it will signal the start of a new uptrend. This positive view will be invalidated if the price goes down and drops below $ 150.

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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