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Bitcoin price has been stuck around a range as the bulls are constantly failing to elevate the levels beyond. While the market dynamics have favoured the bulls ever since the rebound from the levels below $55,000, what’s stopping the BTC price from rising above the 200-day MA and securing the levels above $64,000?
While Bitcoin remains stuck below the 200-day MA, these altcoins are also trading just below the same resistance. Hence, a bullish breakout above the range may help the BTC price to secure new local highs at $65,000, while the below-mentioned altcoins are also believed to rise above their respective 200-day MA.
Pepe (PEPE)
- The PEPE price remains extremely bullish after breaking out from a decisive symmetric triangle and is approaching a crucial resistance
- The price is trading close to the pivotal resistance at the 200-day MA at $0.00000934 and hence a rise above these levels may validate a move above $0.00001
- The RSI remains elevated after a rebound from the lower range, hence validating the bullish narrative
- The trade set sup does not reflect a bearish possibility and hence the PEPE price rally is expected to close the monthly trade on a bearish note, above the 200-day MA
Toncoin (TON)
- The drop that occurred during the first few days of the month compelled the price to plunge below the ascending triangle and also the 200-day MA
- However, after triggering a fine recovery, the price has risen close to both of these levels, while it appears to be stuck at a resistance below them.
- Meanwhile, the RSI remains elevated and is trying hard to rise above the interim highs around 55, which may offer a fine boost to the rally
- Therefore, the Toncoin price is believed to reclaim its levels within the triangle and reach the apex to trigger a breakout from the edge to reach a double-digit figure soon
Injective (INJ)
- After trading finely within the falling wedge, the Injective price triggered a breakout and surged by nearly 30%
- Regardless of this move, the price failed to surpass the pivotal resistance at the 200-day MA at $31.26, while the bulls remain poised to push the price above these levels
- The elevated RSI is about to reach the upper threshold that poses some risk for the rally, carrying some possibility of a pullback
- However, if the INJ price secures the levels at the 200-day MA, then it may offer a strong base above which the token may trigger a fresh ascending trend
Sei (SEI)
- Similar to Bitcoin, the Sei price is failing to surpass the crucial 200-day MA as it remains stuck below the range
- As the likelihood of rejection is pretty low, the SEI price is expected to remain consolidated within the resistance zone between $0.435 and $0.45 for a while
- The RSI surged and entered the overbought zone, which may revive the possibility of a pullback, but the support at $0.4 may hold the rally
- Therefore, the SEI price appears to be poised to maintain a strong ascending trend ad break above the 200-day MA during the weekend
Solana (SOL)
- The Solana price is testing the 200-day MA, similar to Bitcoin, but failing to surpass it. Hence resulting in a horizontal consolidation around $150
- The bulls appear to be poised to maintain a steep ascending trend as the levels are stuck within the resistance zone between $151.17 and $153.44
- The volume has flipped in favor of bulls and the rising RSI validates the bullish claim as the bears have been failing to drag the levels down
- Therefore, the SOL price is expected to rise above the 200-day MA only if the Bitcoin price makes a move beyond the range
