BNB, VET, RNDR and KAS flash bullish as Bitcoin bulls struggle to carry $52K

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Inflows into the spot Bitcoin (BTC) exchange-traded funds (ETFs) topped $2.2 billion between Feb. 12 and Feb. 16, indicating a powerful investor urge for food. Bloomberg analyst Eric Balchunas mentioned in a X put up that BlackRock’s iShares Bitcoin Belief (IBIT) has attracted year-to-date inflows of $5.2 billion, which is “50% of BlackRock’s complete web ETF flows, out of 417 ETFs.”

Bitcoin continued its rally this week, rising about 7%, however the bulls are going through stiff resistance close to $52,000. One of many near-term issues is the potential selling of roughly $1.3 billion value of Grayscale Bitcoin Belief shares by bankrupt crypto lending agency Genesis to reimburse collectors.

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Crypto market knowledge day by day view. Supply: Coin360

If Bitcoin consolidates within the quick time period, the motion could shift to altcoins. Choose altcoins which have damaged above their respective overhead resistance ranges up to now few days are prone to witness a continuation of the rally.

May Bitcoin keep away from a sell-off within the quick time period? If it does, let’s take a look at the charts of the highest 5 cryptocurrencies that will prolong their up transfer.

Bitcoin worth evaluation

Bitcoin has been going through promoting close to $52,000. The bears tried to sink the worth under $50,000 on Feb. 17, however the lengthy tail on the candlestick exhibits stable shopping for on dips.

BTC/USDT day by day chart. Supply: TradingView

A shallow correction from the $52,000 resistance exhibits that the bulls usually are not reserving earnings in a rush as they anticipate the uptrend to proceed. If the worth breaks and sustains above $52,000, the BTC/USDT pair might begin its northward march to $60,000.

A minor danger to the continuation of the rally is that the relative power index (RSI) has stayed within the overbought territory for a while. This means that the rally could also be overheated within the close to time period.

The bears should yank the worth under the 20-day exponential transferring common ($47,809) to point the beginning of a corrective section. The pair could then slide to the 50-day easy transferring common ($44,441).

BTC/USDT 4-hour chart. Supply: TradingView

The bears pulled the worth under the 20-EMA on the 4-hour chart however couldn’t maintain the decrease ranges. This means that the bulls are attempting to guard the extent with vigor. Consumers should overcome the impediment at $52,817 to extend the potential of an increase to $55,000.

If bears wish to forestall the upside, they should drag the worth under the transferring averages. The pair could then collapse to the breakout degree of $48,970. The bulls will attempt to guard this degree, but when they fail of their endeavor, the pair could descend to $47,000 and ultimately to $44,700.

BNB worth evaluation

BNB (BNB) is in an uptrend, however the rally is going through headwinds close to the stiff resistance at $360. A minor optimistic is that the bulls haven’t ceded floor to the bears.

BNB/USDT day by day chart. Supply: TradingView

The upsloping 20-day EMA ($328) and the RSI close to the overbought territory point out that the trail of least resistance is to the upside. If consumers obtain an in depth above $360, the BNB/USDT pair might begin the subsequent leg of the journey to $400. This degree could show to be a troublesome hurdle to cross, but when overcome, the subsequent cease may very well be $460.

Conversely, if the worth closes under $348, the short-term merchants could e book earnings. That might begin a correction to the 20-day EMA after which to the 50-day SMA ($313). A brief-term development change shall be signaled if the pair closes under the 50-day SMA.

BNB/USDT 4-hour chart. Supply: TradingView

The bulls are attempting to defend the 20-EMA on the 4-hour chart, however the bears have stored up the stress. If the worth turns up from the present degree, the bulls will try to push the pair to $366. A break above this resistance will point out the resumption of the uptrend. The pair could then rise to $400.

Contrarily, if the worth stays under the 20-EMA, it’s going to point out that the bears are on a comeback. The pair could then tumble to the 50-SMA.

Kaspa worth evaluation

Kaspa (KAS) surged above the $0.15 overhead resistance on Feb. 17, indicating the resumption of the uptrend.

KAS/USDT day by day chart. Supply: TradingView

The upsloping 20-day EMA ($0.13) exhibits a bonus to consumers, however the overbought ranges on the RSI counsel that the rally could have run up too quick within the close to time period. If the worth turns down from the present degree, it’s prone to discover help at $0.15. A stable rebound off this degree will improve the prospects of a rally to $0.20.

Then again, if the worth turns down sharply and breaks under $0.14, it’s going to sign that the uptrend could have ended within the close to time period. The KAS/USDT pair might then plummet to the 50-day SMA ($0.11).

KAS/USDT 4-hour chart. Supply: TradingView

The 4-hour chart exhibits that the pair is going through resistance at $0.17, however a optimistic signal is that the bulls haven’t allowed the worth to dip under the 20-EMA. The upsloping transferring averages and the RSI close to the overbought zone point out benefit to consumers. If the worth rises above $0.17, the uptrend might proceed to $0.20.

The consumers are anticipated to defend the zone between the 20-EMA and the 50-SMA on any correction. A break under the 50-SMA could counsel that the bears are again within the driver’s seat.

Associated: BTC price dices with $52K as CME Bitcoin futures OI hits record $6.8B

VeChain worth evaluation

VeChain (VET) picked up momentum after breaking above the 50-day SMA ($0.03) on Feb. 12, indicating aggressive shopping for by the bulls.

VET/USDT day by day chart. Supply: TradingView

The VET/USDT pair broke above the $0.04 overhead resistance on Feb. 15, signaling the beginning of the subsequent leg of the uptrend. Nevertheless, the lengthy wick on the Feb. 16 candlestick exhibits that the bears are attempting to halt the up transfer close to $0.05.

If consumers don’t hand over a lot floor, the potential of the continuation of the up transfer will increase. If the worth closes above $0.05, the pair could soar to $0.07.

Opposite to the belief, if the worth continues decrease and breaks under $0.04, it’s going to point out that the bulls are speeding to the exit. The pair could then droop to the transferring averages.

VET/USDT 4-hour chart. Supply: TradingView

The bulls are attempting to arrest the pullback on the 20-EMA on the 4-hour chart. If the worth turns up from the present degree and breaks above $0.05, it’s going to point out that the sentiment stays optimistic and merchants proceed to purchase on dips.

As a substitute, if the worth breaks under the 20-EMA, it’s going to counsel revenue reserving by the bulls. If the worth maintains under the 20-EMA, the pair might plunge to the 50-SMA. A deeper fall is prone to delay the beginning of the subsequent leg of the rally.

Render worth evaluation

Render (RNDR) broke and closed above the $5.28 overhead resistance on Feb. 15, indicating the resumption of the uptrend.

RNDR/USDT day by day chart. Supply: TradingView

The bears tried to tug the worth again under the breakout degree on Feb. 17, however the bulls held their floor. This means that the consumers are attempting to flip the $5.28 degree into help. In the event that they succeed, the RNDR/USDT pair might rise to the sample goal of $7.

The rally of the previous few days pushed the RSI into the overbought zone, indicating the potential of a minor correction or consolidation. A break and shut under $5 shall be an indication of weak point and will entice the aggressive bulls. The pair might then plunge to the 50-day SMA ($4.34).

RNDR/USDT 4-hour chart. Supply: TradingView

The transferring averages on the 4-hour chart are sloping up, and the RSI is close to 60, indicating that the bulls have the higher hand. If the worth rises above $5.71, the pair might rally to $6. The development will favor the bulls if the worth stays above the 20-EMA.

The RSI is forming a destructive divergence, indicating that the bullish momentum may very well be slowing down. If the worth skids under the 20-EMA, the decline is prone to attain the 50-SMA. A break under this degree could open the doorways for a fall to $4.40.