Wells Fargo, in partnership with NYDIG and alternative asset manager FS Investments, has registered a new mutual fund called “FS NYDIG BITCOIN FUND I”, which enables the bank’s wealthy customers to invest indirectly in Bitcoin (BTC).

Another sign of growing institutional interest is BlackRock’s filing with the U.S. Securities and Exchange Commission, showing a 6.71% stake in Marathon Digital Holdings and a 6.61% stake in Riot Blockchain. BlackRock’s total investments in the two publicly traded Bitcoin mining companies are estimated at approximately $ 384 million.

Daily performance of the cryptocurrency market. Source: Coin360

Brian Armstrong, CEO of Coinbase, announced on Aug. 20 that the company’s board of directors has approved a proposal to add $ 500 million worth of crypto to the balance sheet and use 10% of the profits generated for future crypto purchases.

With this move, Coinbase will be the first publicly traded company to include Ether (ETH), decentralized financial tokens and proof-of-stake assets on its balance sheet.

Institutional interest in crypto continues to grow and that could bode well for the sector in the future. Let’s study the charts of the top 10 cryptocurrencies and determine the critical values ​​to watch out for.

BTC / USDT

Bitcoin has witnessed an uphill battle between the bulls and bears for the past few days near its 200-day simple moving average ($ 45,692). The bears dragged the price below the 200-day SMA on August 17th but failed to break the support of the 20-day exponential moving average ($ 44,183).

BTC / USDT daily chart. Source: TradingView

Aggressive buying on the 20-day EMA pushed the price back above the 200-day SMA on August 19th. The rising 20-day EMA and Relative Strength Index (RSI) near the overbought area show that the bulls are in control.

If buyers hold the price above $ 48,144, the BTC / USDT pair could gain momentum, rising to $ 51,500 where the bears could again build strong resistance. If the bulls can hold back the subsequent decline above the 200-day SMA, it will signal strength and increase the prospect of a continuation of the uptrend.

A breakout of $ 51,500 could set the course for a possible surge to $ 60,000. This bullish view will be voided if the price goes down and falls below the breakout level of $ 45,451.67.

ETH / USDT

Ether turned down from $ 3,335 on August 16 and the bears attempted to pull the price below the breakout level of $ 3,000 on August 17 and 18. Although the price fell below this support, the bears were unable to sustain lower levels, suggesting strong buying from the bulls.

ETH / USDT daily chart. Source: TradingView

The ETH / USDT pair rallied from the 20-day EMA (USD 2,981) on August 19th, suggesting that the bulls are aggressively defending this support. Buyers will now seek to push the price above the overhead resistance at $ 3,335. If they do that, the pair could begin their $ 4,000 journey.

Contrary to this assumption, if the pair fell from $ 3,335, the pair could fall back to $ 3,000 and consolidate in that narrow range for a few more days. A breakout and a close below $ 3,000 is the first sign that the bulls are losing their grip. The pair could then fall to the 50-day SMA ($ 2,311).

ADA / USDT

The bulls flipped the $ 1.94 level in support on August 17th and 18th. This attracted further buying and the bulls pushed Cardano (ADA) above the all-time high of $ 2.47 today.

ADA / USDT daily chart. Source: TradingView

The ADA / USDT pair could now climb to $ 2.73 where it is likely to encounter strong resistance from the bears again. If the bulls break this resistance, the pair could hit the psychological barrier at $ 3.

Although the trend is favoring the bulls, the RSI near 80 shows that the rally is overdrawn in the short term. If the price slips below $ 2.47 and holds, the bears will try to push the pair down to $ 2.20. A break below this level suggests a short-term slowdown in momentum. The pair could then hit the 20-day EMA ($ 1.87).

BNB / USDT

Binance Coin (BNB) fell from the overhead resistance at $ 433 on Aug 17, but the bulls did not let the price fall below the 20-day EMA ($ 384).

BNB / USDT daily chart. Source: TradingView

A strong rebound from the 20-day EMA has pushed the price above the tough resistance at $ 433. If the bulls keep the price above $ 433, the BNB / USDT pair could begin its march north toward $ 520 and then toward $ 600.

The rising moving averages and the RSI in the overbought territory indicate that the path of least resistance is on the upside. That bullish view will be dashed if the price goes down and falls below the 20-day EMA. This could lead to a drop to $ 340.

XRP / USDT

XRP broke the downtrend line of the descending channel and the overhead resistance at $ 1.07 on Aug 13, completing a rounded bottom pattern. The bears tried to push the price back below $ 1.07, but the bulls thwarted their attempt.

XRP / USDT daily chart. Source: TradingView

The strong rebound from $ 1.07 on August 18th shows that the bulls have successfully flipped that level into support. The XRP / USDT pair could now climb to $ 1.70. This level could act as strong resistance, but if the bulls break this hurdle the pair could rise to $ 1.96.

Alternatively, if the price goes down from $ 1.35, the bears will attempt to pull the pair below $ 1.07 and the 20-day EMA ($ 1.01). If successful, the pair could fall to the 200-day SMA ($ 0.84). Such a move will indicate that traders have outsourced their positions to higher levels.

DOGE / USDT

Dogecoin (DOGE) broke and closed above the $ 0.29 resistance on August 14, clearing the way for a rally to $ 0.35. The bears hit strong resistance at this level on August 16, pulling the price back to the breakout level at $ 0.29.

DOGE / USDT daily chart. Source: TradingView

The bulls successfully defended the breakout level at $ 0.29 on August 21st, indicating positive sentiment. If buyers lift the price above $ 0.35, the DOGE / USDT pair could rise to the nearest overhead resistance at $ 0.45.

Conversely, the bears will try again to lower the pair below the 20-day EMA ($ 0.27) if the price drops from current levels or $ 0.35. If they do, the pair could fall to the nearest support at $ 0.21.

DOT / USDT

Polkadot (DOT) turned off the 200-day SMA ($ 27.52) on August 17th, but the correction was short-lived as the bulls bought the dip on August 18th. Buyers drove the price above the 200-day SMA today.

DOT / USDT daily chart. Source: TradingView

The DOT / USDT pair will complete a V-shaped bottom as it rises and closes above the USD 28.60 resistance. This setup has a target target of $ 46.83.

Such a move may not be easy, however, as the RSI has risen deep into the overbought territory, suggesting that the rally is overdrawn in the short term. That could lead to a slight correction or consolidation in the next few days.

If the price recovers from the 20-day EMA ($ 21.86) the bulls will try again to push the price above $ 28.60. Alternatively, a break below the 20-day EMA suggests the pair may expand its range-bound action in the near future.

SOL / USDT

Solana (SOL) rose above the $ 44 resistance on August 13. The bears attempted to pull the price back below the breakout levels on August 14, but were unable to hold the lower levels. This shows that the bulls were in no hurry to give up their positions.

SOL / USDT daily chart. Source: TradingView

The SOL / USDT pair broke the all-time high of $ 58.38 on August 16 and has continued on its way up. The strong rally of the past few days has pushed the RSI above 89, suggesting that the upward move is overdrawn in the short term.

This could result in a consolidation for a few days or a minor correction where the price could retest the breakout level at USD 58.38. If the bulls reverse this level into support, the rally could resume and hit the psychological level at $ 100.

The bears will need to pull and hold below $ 58.38 to weaken bullish momentum.

Related: Bitcoin is attacking the last resistance before $ 50,000 with BTC price closing daily, crucial now

UNI / USDT

The bulls’ failure to hold Uniswap (UNI) above the overhead resistance at $ 30 resulted in profit posting which dragged the price down on August 16. Although bears pulled the price below the moving averages on August 18th and August 19th, the lower levels failed.

UNI / USDT daily chart. Source: TradingView

The strong rebound from the 20-day EMA ($ 26.60) on August 19 suggests sentiment remains positive and the bulls will buy on dips. The bulls will now try again to push the price above the overhead resistance at $ 30.

If successful, the UNI / USDT pair could start a new bullish trend. The initial upside target is $ 37 and if that level is exceeded the pair could retest the all-time high of $ 45.

Conversely, the pair can fall to the 20-day EMA if the price falls from $ 30. A break through and a close below this level could lower the price to $ 23.45.

BCH / USDT

Bitcoin Cash (BCH) broke the 200-day SMA (651) on Aug 13, but the bulls were unable to extend that advantage. Sensing an opportunity, the bears pushed price back below the 200-day SMA on August 17, but failed to break the support at the 20-day EMA ($ 613).

BCH / USDT daily chart. Source: TradingView

This suggests that sentiment has turned positive and traders buy on dips. The bulls pushed the price back above the 200-day SMA on August 19 and will now attempt to push the BCH / USDT pair above $ 714.66.

If they do, the pair could climb to $ 800 and then $ 864.28. On the flip side, the pair could slide to $ 546.83 if the price breaks down from current levels or overhead resistance and falls below the 20-day EMA.

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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