Maker

Bitcoin

Toncoin

Monero

Stellar

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 Bitcoin price has flatlined, but TON, XLM, XMR and MKR are showing signs of bullish momentum. 
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<div class="cointelegraph"> 
 Bitcoin (BTC) traded in a narrow range this week and is on target to form the third consecutive Doji candlestick pattern on the weekly chart. The cryptocurrency markets did not receive any support from the United States equities markets, which ended the week on a negative note. The S&amp;P 500 Index dropped 1.3% while the Nasdaq closed down 1.9%.&nbsp; 
 Bitcoin’s weakness has dragged several altcoins lower, with many testing multi-week lows. This indicates that the broader crypto market is in a firm bear grip. Negative markets make it difficult for buyers to identify short-term bullish trades as rallies hardly sustain. However, it could be a good time for long-term investors to build a portfolio. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/e1cedcc814d3e6a887bda48e69eea875.webp"> 
 <figcaption style="text-align: center;"> Crypto market data daily view. Source: Coin360 
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 According to a recent Amberdata report, 24% of asset management firms are appointing senior executives dedicated to the implementation of digital strategies. Down the line, 13% more firms plan to adopt a digital assets strategy. This indicates “seriousness about implementation as well as senior management buy-in,” the report added. 
 Could Bitcoin break out to the upside, boosting buying interest in altcoins? Let’s study the charts of top-5 cryptocurrencies that are showing promise in the near term. 
 <h2 id="bitcoin-price-analysis">Bitcoin price analysis</h2> 
 Bitcoin has been trading near the $26,000 level for the past few days, indicating a tussle between the bulls and the bears. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/09ec8b58878533b8d6ce2701df1be9aa.webp"> 
 <figcaption style="text-align: center;"> BTC/USDT daily chart. Source: TradingView 
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 The downsloping moving averages indicate advantage to bears but the positive divergence on the relative strength index suggests that the selling pressure is reducing. The indicators are not giving a clear advantage either to the bulls or the bears. 
 Therefore, it is better to wait for the price to either sustain above $26,500 or dive below $24,800 before placing large bets. 
 If bulls overcome the obstacle at $26,500, the BTC/USDT pair could soar to the overhead resistance at $28,143. On the other hand, a fall below $24,800 could clear the path for a collapse to $20,000. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/41516883d496ce75a4629bf67845f786.webp"> 
 <figcaption style="text-align: center;"> BTC/USDT 4-hour chart. Source: TradingView 
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 The price has been trading near the moving averages on the 4-hour chart, indicating a lack of interest from both the bulls and the bears. This tight-range trading is unlikely to continue for long and may lead to a range expansion within the next few days. 
 On the upside, a rally above $26,500 will indicate that the advantage has tilted in favor of the <a rel="noopener noreferrer nofollow" title="buyers" href="https://thebittimes.com/tag/buyers.html">buyers</a>. That may start an up-move to $27,600 and eventually to $28,143. 
 Alternatively, if the price breaks below $25,300, the selling could pick up and the pair may retest the Aug. 17 intraday low of $25,166. 
 <h2 id="toncoin-price-analysis">Toncoin price analysis</h2> 
 Toncoin (TON) has pulled back to the 20-day exponential moving average ($1.69). In an uptrend, a correction to the 20-day EMA usually offers a low-risk entry opportunity. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/cc3dab877ff6e9ef94f845905c0faeb1.webp"> 
 <figcaption style="text-align: center;"> TON/USDT daily chart. Source: TradingView 
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 The 20-day EMA is likely to act as a strong support. If the price snaps back from the 20-day EMA, it will indicate that the sentiment has turned positive and traders are buying on dips. The TON/USDT pair could first rise to $1.89 and thereafter attempt a rally to $2.07. 
 Instead, if the price continues lower and plummets below the 20-day EMA, it will suggest that the bulls are bailing out of their positions. That could open the doors for a possible drop to $1.53 and next to the 50-day simple moving average ($1.45). 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/6a94a844903519827107296226439e16.webp"> 
 <figcaption style="text-align: center;"> TON/USDT 4-hour chart. Source: TradingView 
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 The 4-hour chart shows that the bears are trying to sink the price below the immediate support at $1.72 but the bulls have held their ground. The downsloping 20-EMA and the RSI in the negative territory increases the risk of a downside breakdown. 
 If the $1.72 support cracks, the pair could skid to $1.66 and later nosedive to the strong support at $1.53. Contrarily, if bulls propel the price above the moving averages, it will suggest the start of a stronger recovery to $1.90 and subsequently to $2. 
 <h2 id="stellar-price-analysis">Stellar price analysis</h2> 
 Stellar (XLM) has staged a smart recovery in the past few days, indicating that the buyers are attempting a comeback. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/19e7d945fc807cf3e7d99ee427951653.webp"> 
 <figcaption style="text-align: center;"> XLM/USDT daily chart. Source: TradingView 
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 The XLM/USDT pair broke above the 20-day EMA ($0.12) on Sep. 4 and the bulls thwarted attempts by the bears to yank the price back below it on Sep. 5 and 6. This suggests that the bulls are trying to flip the 20-day EMA into support. 
 The price has reached the 50-day SMA ($0.13), which is behaving as a roadblock. A minor positive in favor of the <a rel="noopener noreferrer nofollow" title="buyers" href="https://thebittimes.com/tag/buyers.html">buyers</a> is that they have not given up much ground. This suggests that the bulls are not rushing to the exit. If the price breaks above the 50-day SMA, the pair could soar to $0.15 and later to $0.17. 
 This bullish view will invalidate in the near term if the price turns down and plunges below the 20-day EMA. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/b53a27a9e04ec8d8a4aed1d082c2ec09.webp"> 
 <figcaption style="text-align: center;"> XLM/USDT 4-hour chart. Source: TradingView 
 </figcaption> 
 </figure> 
 The bears are trying to halt the recovery at the overhead resistance at $0.13 but the bulls have not given up much ground. The rebound off the 20-EMA shows that lower levels continue to <a rel="noopener noreferrer nofollow" title="attract" href="https://thebittimes.com/tag/attract.html">attract</a> <a rel="noopener noreferrer nofollow" title="buyers" href="https://thebittimes.com/tag/buyers.html">buyers</a>. If the price maintains above the overhead resistance, the pair could start an up-move to $0.15. 
 If bears want to prevent the up-move, they will have to quickly drag the price below the 20-EMA. That could accelerate selling and tug the price to the 50-SMA. 
 Related: 3 reasons why Pepe price will continue to fall in September 
 <h2 id="monero-price-analysis">Monero price analysis</h2> 
 Monero (XMR) has held the uptrend line support for the past few days, indicating buying at lower levels. The price has reached the 20-day EMA ($143), which is an important level to keep an eye on. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/447f91e85403febd9220b6c402928926.webp"> 
 <figcaption style="text-align: center;"> XMR/USDT daily chart. Source: TradingView 
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 If bulls drive the price above the 20-day EMA, it will suggest the start of a sustained recovery. The XMR/USDT pair could then climb to the 50-day SMA ($151), where the bears may again mount a strong defense. If this obstacle is cleared, the pair could surge to $160. 
 The bears are likely to have other plans. They will try to protect the 20-day EMA and pull the price below the uptrend line. If they manage to do that, several stops may be hit. That could sink the pair to $130. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/b27bb5b4118e1d9f76da99b45ca05d1d.webp"> 
 <figcaption style="text-align: center;"> XMR/USDT 4-hour chart. Source: TradingView 
 </figcaption> 
 </figure> 
 The price action on the 4-hour chart shows the formation of a symmetrical triangle pattern. The flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. 
 If the price slips below the 50-SMA, the bears will try to pull the pair to the support line of the triangle. Contrarily, if the price <a rel="noopener noreferrer nofollow" title="rises" href="https://thebittimes.com/tag/rises.html">rises</a> above the 20-EMA, the pair could reach the resistance line. A break above or below the triangle could signal the start of a trending move. 
 <h2 id="maker-price-analysis">Maker price analysis</h2> 
 Maker (MKR) has been stuck between the moving averages, indicating indecision among the bulls and the bears. A minor positive in favor of the bulls is that the price has been trading above the downtrend line. 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/09/11/dda3849f0f812de542c93b56af2573d2.webp"> 
 <figcaption style="text-align: center;"> MKR/USDT daily chart. Source: TradingView 
 </figcaption> 
 </figure> 
 The 20-day EMA ($1,119) is moving up gradually but the RSI near the midpoint suggests a lack of bullish momentum. Buyers will have to propel and sustain the price above the 50-day SMA ($1,157) to signal the start of an up-move to $1,227. 
 This positive view could invalidate in the near term if the price re-enters the downtrend line. The MKR/USDT pair could then slump to the strong support at $980. This level is likely to witness strong buying by the bulls. 
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 <img src="https://cdn.thebittimes.com/images/2023/09/11/7a5710318770e9e8a9fe516f3ce0b715.webp"> 
 <figcaption style="text-align: center;"> MKR/USDT 4-hour chart. Source: TradingView 
 </figcaption> 
 </figure> 
 The 4-hour chart shows that the price has been oscillating between $1,083 and $1,170 for some time. The flattish moving averages and the RSI in the negative zone indicate a slight advantage to the sellers. 
 On the downside, the important support to watch out for is $1,102 and then $1,083. Conversely, if the price turns up from the current level and breaks above the moving averages, it will suggest that the bulls are on a comeback. The pair may then rally to $1,170. 
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 This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. 
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ton-xlm-xmr-and-mkr-could-attract-buyers-if-bitcoin-rises-above-26-500-tbt62211.html">https://thebittimes.com/ton-xlm-xmr-and-mkr-could-attract-buyers-if-bitcoin-rises-above-26-500-tbt62211.html</a>

TON, XLM, XMR, and MKR could attract buyers if Bitcoin rises above $26,500

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