The market's continued inability to break out of its trading range must be clarified for investors regarding the next likely trending move. In this regard, there were optimistic comments from experts at JPMorgan, who stated that Bitcoin's downward trend may soon stop. They feel that the long liquidation process is now ending because the open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange has been falling recently.

Certain other cryptocurrencies demonstrate strength as Bitcoin deliberates its next move. If Bitcoin's range resolves lower, these other cryptocurrencies could go into the red; however, if Bitcoin continues to trade in a range or increases, dealing in them could be profitable in the near term.

Let's examine the charts of the top five cryptocurrencies that have the potential to rise soon out of the levels that need to be broken to regain market control.

ANALYSIS OF BITCOIN PRICES

On August 26, an inside-day candlestick pattern was produced for Bitcoin, which indicated that the bulls and the bears could not agree on the next direction for the cryptocurrency's price.

Bears appear to control the situation based on several indicators, including a relative strength index (RSI) in the oversold zone and a downward-sloping 20-day exponential moving average ($27,222). On the other hand, it is quite doubtful that the bulls will give up without a struggle. They will use all their resources to try to protect the level of $24,800.

If buyers push the price above the 20-day exponential moving average (EMA), the BTC/USDT pair may start a greater comeback. This may pave the way for a probable rally to the 50-day simple moving average, now priced at $28,888.

Bears must drive the price lower than $24,800 to improve their position. In that case, the pair can begin a downward trend that takes it to 20,000 dollars.

On the four-hour chart, the 20-day exponential moving average (EMA) is beginning to level out, and the RSI is getting closer to the middle point. This indicates that supply and demand are in a state of equilibrium. If the price drops below $25,700, the pair may head into $25,166 and then $24,800 if it declines.

If, on the other hand, the pair maintains its position above the moving averages, this will be interpreted as an indication that the buyers have absorbed the selling pressure. The team's price may encounter some mild opposition at $26,314, but if it manages to push through this barrier, it may gain ground to $26,610 and, ultimately, $26,833.

ANALYSIS OF THE TO COIN PRICE


Toncoin (TON) is developing an inverse head and shoulders pattern, which will be finished when the price breaks through $1.53 and then closes above that level.

The 20-day exponential moving average (at $1.38) is gradually increasing, and the RSI is currently in the positive zone, both of which signal that the path of least resistance is upward. If purchasers successfully drive the price over $1.53, the TON/USDT pair may start a fresh uptrend with a goal of $1.91 based on the pattern.

The bears had other things in mind. They intend to defend the $1.53 level and pull the price below the moving averages to achieve their goals. If they succeed, the pair's cost may fall to $1.25 and $1.15.

The chart for the four-hour time frame reveals that the level of $1.53 may be a difficult obstacle for the buyers to overcome. If the price moves lower from here but recovers after touching the 20-day exponential moving average, this will indicate that bulls are buying on tiny price drops. This may increase the likelihood of a higher price than $1.53. After that, the pair might climb to $1.70.

If the price begins to decline and then breaks below the 20-day exponential moving average, this will indicate that traders are booking gains near $1.53. After that, the pair may fall below the 50-day simple moving average and further to $1.33.

ANALYSIS OF MONERO PRICES

The Bulls are tenaciously defending the level, as seen by Monero's (XMR) rapid rebound from the uptrend line for the second time in the past few days.

The XMR/USDT pair can reach the 20-day exponential moving average ($148), which is expected to act as a significant barrier. If bulls can maintain their ground from this point, there is a better chance of a rebound that takes prices above the 20-day exponential moving average (EMA). The pair may ascend to the 50-day simple moving average ($157), which may entice bears to sell the currency pair.

Bears will likely continue selling on rallies if the price shifts from the 20-day exponential moving average (EMA). After that, the uptrend line might be retested by the pair. A support level that is repeatedly tested tends to lose its effectiveness over time. If this level allows, the team may fall to $125 and subsequently to $115 if it continues its downward trend.

On the four-hour chart, the bulls successfully pushed the price above the moving averages, which indicates that the bears may be losing their hold on the market. There is a lot of opposition at the $150 level, but if it can be broken through, the pair might go as high as $160. A slight edge may be held by purchasers, as shown by a rising 20-day exponential moving average (EMA) and an RSI in the positive region.

A break and subsequent closing below the moving averages will be the first indication of deterioration in the market. This may cause the price to move closer to the uptrend line. If this support is broken, the pair can continue falling until it reaches $125.

ANALYSIS OF MANTLE PRICES

Since reaching its all-time high of $0.60 on July 20, the cryptocurrency Mantle (MNT) has been on a significant downward trend. The RSI entered an oversold area due to the steep downward trend, which indicated that a relief rally would be probable.

The outside-day candlestick pattern on August 25 proves buyers are trying to regain control. The MNT/USDT pair may initially climb to the 20-day exponential moving average ($0.45), an important milestone to watch. If buyers successfully overcome this barrier, the pair may continue to advance until it reaches the 38.2% Fibonacci retracement mark of $0.48.

On the other hand, if the price moves below the 20-day exponential moving average (EMA), this will indicate that the bears are still selling on every tiny advance. Because of this, a retest of the support level at $0.41 is possible. If this level is broken, the pair may fall to $0.35.

The four-hour chart demonstrates that the bulls have pushed the price above the moving averages. Still, they are having difficulty initiating a runaway surge. This gives the impression that the bears are not giving up, which raises the possibility that they will be a problem at greater elevations.

If the price breaks below the moving averages, this will be interpreted as a signal that bears are in a position of strength. Because of this, the likelihood of a price decline below $0.41 will rise.

On the other hand, if the price stays above the 20-day exponential moving average (EMA), this will show that bulls are buying the minor drops in the price. After that, the pair might attempt to bounce back up to $0.47 and eventually to $0.52.

ANALYSIS QUANT PRICE 

Quant (QNT) experienced a robust bounce on August 17 after finding support at $95, and on August 26, the stock surged above its moving averages. This demonstrates that there is a robust demand at higher levels.

The bulls will try to keep the momentum going and drive the price closer to the downtrend line. On this level, a fierce conflict between the bulls and the bears will almost certainly be. If the price moves lower from here but finds support at the 20-day exponential moving average ($101), this will indicate a shift in market sentiment away from selling on rallies and buying on dips.

Because of this, the likelihood of a rally that breaks above the downtrend line may grow. If this occurs, the QNT/USDT pair may initiate an uptrend that extends to $120. This bullish outlook can be meaningless shortly if the price makes a sharp downward reversal and falls further than the moving averages. After that, the pair can fall until it reaches the support at $95.

The moving averages on the four-hour chart have moved to the upside, and the relative strength index (RSI) is currently located in the positive region, all pointing to the fact that bulls are returning. The pair might stage a comeback and rally to the downtrend line, where the bears might once more present a formidable obstacle.

On the downside, the moving averages are anticipated to be powerful supports. If the 50-day simple moving average is broken and then closed below, this will indicate that the recovery may have run its course. After that, the duo might fall to $98.