The full crypto market capitalization has bounced from but below $200 billion on Apr 22 to over $214 billion at printing fourth dimension. This is a positive sign every bit it shows that the sentiment is to purchase the dips. If the market capitalization rises to a higher place $217 billion, it would open the gates for a rally to well-nigh $250 billion. A positive sign during the recent bullish move has been that along with Bitcoin several altcoins have besides shown strength.

Equally Bitcoin halving nears, tweets regarding "halving " take picked up and are currently ranked second among the topics discussed related to Bitcoin, according to crypto social sentiment analysis firm TheTIE.

Another survey conducted by the global peer-to-peer Bitcoin marketplace Paxful states that 50% of the respondents believe that a failure in the traditional finance system could effect in a shift to Bitcoin. The chief operating officeholder and co-founder of Paxful Artur Scahabck said that many participants expect "mainstream adoption" in the next 6 to x years. Notwithstanding, the survey also had non-believers who said that the crypto chimera could burst in the same six-ten years fourth dimension frame.

Daily cryptocurrency market performance. Source: Coin360

Daily cryptocurrency market performance. Source: Coin360

Argentina is in talks with some of the world's largest institutional investors to avoid a ninth sovereign debt default. The Argentine pesos has been ane of the worst global currencies to hold equally it has lost about 75% of its value against the US dollar since 2022. Interestingly, during the same menstruum, the weekly volume of Bitcoin purchased with Argentine pesos has surged 1,028%. This shows that when investors lose faith in fiat currencies, they gravitate towards cryptocurrencies.

Global Macro Investor CEO Raoul Pal believes that the current crunch caused by the coronavirus outbreak could drive investors towards gilt and Bitcoin. Pal expects Bitcoin to "go from a $200bn asset grade to a $10tn asset grade" in the adjacent five years.

BTC/USD

Bitcoin (BTC) surged in a higher place the symmetrical triangle and the horizontal resistance at $7,454.17 on April 23. This was a huge positive merely the bulls have not been able to take advantage of this breakout.

BTC–USD daily chart. Source: Tradingview

BTC–USD daily chart. Source: Tradingview

This shows hesitation at higher levels. The bears will at present attempt to drag the BTC/USD pair beneath $7,454.17. If successful, a retest of the breakout level from the symmetrical triangle at $7,220 is possible.

If the pair rebounds off this level, the bulls will over again attempt to drive the price above the $seven,454.17-$7,740.37 resistance zone. If successful, a rally to $8,000 and then to $9,000 is possible.

The 20-day exponential moving boilerplate is gradually sloping up and the relative force index is in the positive territory, which suggests that the bulls have a slight advantage.

The first sign of weakness volition be a break below the 20-day EMA and the bearish scenario volition come into play below $6,471.71. Therefore, the stop loss on the long positions can exist retained at $6,200.

ETH/USD

Ether (ETH) continues to merchandise within the ascending channel with a positive bias. The 20-twenty-four hour period EMA ($169) is sloping up and the RSI is in the positive territory, which indicates that the bulls take the upper hand.

ETH–USD daily chart. Source: Tradingview​​​​​​​

ETH–USD daily chart. Source: Tradingview

If the bulls tin can propel the ETH/USD pair above the ascending channel, the momentum is likely to pick up. Above the channel, a rally to $250 is possible. The pair remains bullish as long every bit it trades within the top-one-half of the channel.

The first sign of weakness will exist a break beneath the twenty-solar day EMA and the trend volition plough in favor of the bears on a suspension below the channel. Therefore, the cease-loss on the long positions can be trailed college to $155.

XRP/USD

The bulls pushed XRP above the downtrend line on Apr 23 but could non sustain the price above it. Currently, the bulls are again attempting to sustain the price higher up the downtrend line.

XRP–USD daily chart. Source: Tradingview​​​​​​​

XRP–USD daily chart. Source: Tradingview

If successful, a move to $0.20570 is probable. The bears might again defend this level but a break in a higher place it tin beginning an uptrend that tin can result in a rally to $0.25.

The gradually upsloping 20-day EMA ($0.187) and the RSI only to a higher place the midpoint suggests a marginal advantage to the bulls.

However, if the XRP/USD pair turns down from the current levels or from the overhead resistance at $0.20570 and breaks below $0.17372, the trend is probable to favor the bears. Therefore, the protective terminate-loss on the long positions can be trailed college to $0.170.

BCH/USD

Bitcoin Cash (BCH) is facing strong resistance at the overhead resistance of $250. The failure to pause above this level will proceed the altcoin range-bound between $200 and $250 for a few more than days.

BCH–USD daily chart. Source: Tradingview​​​​​​​

BCH–USD daily chart. Source: Tradingview

If the bulls can thrust the BCH/USD pair above $250, a move to $280.47 is possible. A breakout of this level volition invalidate the bearish head and shoulders blueprint, which could result in a rally to $350.

Conversely, a break beneath $200 will complete the bearish H&S pattern, which has a target objective of $119.53. The stop-loss on the long positions tin exist kept at $197.

BSV/USD

Bitcoin SV (BSV) is close to the resistance line of the symmetrical triangle. A breakout of the triangle will exist a positive sign that tin consequence in a move to $227. The bears are once more probable to mount a defense of this level.

BSV–USD daily chart. Source: Tradingview​​​​​​​

BSV–USD daily chart. Source: Tradingview

However, if the bulls can push the BSV/USD pair higher up $227, a new uptrend is likely. The first target on the upside would be $268.842 and above information technology $319.424.

Conversely, if the pair turns down from the current levels and plummets below the support line of the triangle, it volition signal weakness. Below $170, the pair can decline to $146.20 and then to $100. Therefore, the stops on the long positions tin exist kept at $165.

LTC/USD

The bulls are attempting to push button Litecoin (LTC) above the overhead resistance of $43.67. If successful, a move to $47.6551 is possible. The bears are likely to defend this level aggressively merely if crossed, a new uptrend is likely to begin.

LTC–USD daily chart. Source: Tradingview​​​​​​​

LTC–USD daily chart. Source: Tradingview

Above $47.6551, the LTC/USD pair tin can rally to $52.2767, which might human activity every bit minor resistance. However, if the bulls can interruption above this level, a rally to $63 is possible.

Conversely, if the bulls fail to sustain the toll above $43.67, the consolidation is likely to extend for a few more days. A break below $35.8582 will open the gates for a further decline. Therefore, the long positions can be held with a stop at $35.

EOS/USD

EOS is trading in the upper one-half of the $2.3314-$2.8319 range. The xx-day EMA ($2.56) is gradually sloping up and the RSI is in the positive territory, which suggests that bulls have a slight reward.

EOS–USD daily chart. Source: Tradingview​​​​​​​

EOS–USD daily nautical chart. Source: Tradingview

If the bulls can bulldoze the EOS/USD pair above $2.8319, the momentum is likely to pick up. The target objective for the breakout from the range is $3.3324. If the traders tin push the toll above this level, the uptrend tin can reach $3.8811.

Still, if the bulls neglect to break out and sustain the price above $2.8319, the pair might spend a few more than days inside the range. Lower levels can be expected on a interruption below the support of the range at $2.3314. Therefore, the protective stops on the long positions can be kept at $2.20.

BNB/USD

Binance Money (BNB) has bounced off the 20-mean solar day EMA ($15) and has re-entered the rising wedge. All the same, the rebound lacks momentum, which shows hesitation amid the bulls to buy at higher levels.

BNB–USD daily chart. Source: Tradingview​​​​​​​

BNB–USD daily chart. Source: Tradingview

If the BNB/USD pair turns down from the current levels or from the resistance line of the wedge and breaks beneath the 20-day EMA, it will point an advantage to the bears. Beneath the twenty-day EMA, the side by side support is at thirteen.65.

Conversely, if the bulls can bulldoze the pair higher up the wedge, information technology volition invalidate the bearish blueprint. This could result in a rally to $21.50. For now, the stops on the long positions tin can be kept at $13.

XTZ/USD

Tezos (XTZ) picked up momentum after bouncing off the 20-day EMA on April 21. Today, the altcoin reached our start target objective of $ii.75. The bears are likely to defend this level aggressively.

XTZ–USD daily chart. Source: Tradingview​​​​​​​

XTZ–USD daily chart. Source: Tradingview

This could result in a pocket-sized correction or a few days of consolidation. Therefore, the brusk-term traders can volume fractional profits if the bulls struggle to scale the XTZ/USD pair above the overhead resistance. The stops on the residual of the long positions can be trailed college to breakeven.

With the 20-twenty-four hour period EMA ($ii.15) sloping upwards and the RSI in the overbought zone, the advantage is with the bulls. Above $2.7529, a rally to $iii.2712 is possible. This bullish sentiment could take a beating if the bears sink and sustain the price below the contempo swing low of $2.0618.

LINK/USD

Failed breakouts are normally the outset warning sign of waning demand at college levels. Chainlink (LINK) climbed above the resistance at $3.83 on April 23 merely the bulls could not sustain the breakout.

LINK–USD daily chart. Source: Tradingview​​​​​​​

LINK–USD daily nautical chart. Source: Tradingview

Currently, the bulls are over again struggling to concur the price to a higher place $3.83. This shows selling at higher levels. Nevertheless, the positive sign is that the LINK/USD pair has not given up much basis.

The twenty-day EMA ($3.32) is sloping upwardly and the RSI has been sustaining above the 60 levels, which suggests that bulls have the advantage.

If the pair can climb and sustain above $iii.83, the uptrend is probable to resume. The kickoff level to watch out for is $4.2023 and so $4.9762. The offset sign of weakness would be a drib below the trendline.

The views and opinions expressed hither are solely those of the author and do not necessarily reverberate the views of Cointelegraph. Every investment and trading move involves risk. You lot should acquit your own research when making a conclusion.

Market information is provided by HitBTC substitution.