Maker

Bitcoin

Monero

Toncoin

Stellar

<div class="fintechs"><div class="wp-block-image"><figure class="aligncenter size-full"><img width="640" height="426" src="https://cdn.thebittimes.com/images/2023/09/11/13b58495e90f655997d8719881858a11.webp" alt="" class="wp-image-24245 jetpack-lazy-image"><img width="640" height="426" src="https://cdn.thebittimes.com/images/2023/09/11/13b58495e90f655997d8719881858a11.webp" alt="" class="wp-image-24245"></figure></div><p><strong>Bitcoin’s price has been stuck in a bit of a rut lately, but on the brighter side, TON, XLM, XMR, and MKR are starting to show signs of some bullish energy.</strong></p><p><strong>Bitcoin didn’t make much headway in the past week and seems poised to chalk up its third consecutive Doji candlestick pattern on the weekly chart. Interestingly, the cryptocurrency market didn’t get any boost from the U.S. stock markets, which had a rough week. The S&amp;P 500 Index dropped by 1.3%, and the Nasdaq had an even more challenging time, closing by 1.9%.</strong></p><p>Bitcoin’s weakness has lowered several altcoins, 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.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/15afc3330b2afd22ce5474f14ec64d7a.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/15afc3330b2afd22ce5474f14ec64d7a.webp" alt=""><figcaption class="wp-element-caption"><em><sub>Crypto market data daily view. Source: Coin360</sub></em></figcaption></figure></div><p>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.</p><p>Could Bitcoin break out to the upside, boosting buying interest in altcoins? Let’s study the charts of the top five cryptocurrencies that are showing promise in the near term.</p><h2 class="wp-block-heading" id="bitcoin-price-analysis">Bitcoin price analysis</h2><p>Bitcoin has been trading near the $26,000 level for the past few days, indicating a tussle between the bulls and the bears.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/c29c6e6d82ddbd3321aa053330a83c28.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/c29c6e6d82ddbd3321aa053330a83c28.webp" alt=""><figcaption class="wp-element-caption"><em><sub>BTC/USDT daily chart. Source: TradingView</sub></em></figcaption></figure></div><p>The downsloping moving averages indicate an advantage to bears, but the positive divergence on the relative strength index suggests that the selling pressure is reducing. The indicators do not give a clear advantage to the bulls or the bears.</p><p>Therefore, it is better to wait for the price to sustain above $26,500 or dive below $24,800 before placing large bets.</p><p>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.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/7582d059db1d3b76a95a45eaa802bd3f.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/7582d059db1d3b76a95a45eaa802bd3f.webp" alt=""><figcaption class="wp-element-caption"><em><sub>BTC/USDT 4-hour chart. Source: TradingView</sub></em></figcaption></figure></div><p>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.</p><p>On the upside, a rally above $26,500 will indicate that the advantage has tilted in favour of the buyers. That may start an up-move to $27,600 and eventually to $28,143.</p><p>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.</p><h2 class="wp-block-heading" id="toncoin-price-analysis">Toncoin price analysis</h2><p>Toncoin (TON) has returned to the 20-day exponential moving average ($1.69). A correction to the 20-day EMA usually offers a low-risk entry opportunity in an uptrend.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/1155d65c7125df0a1500abd7bd9195b7.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/1155d65c7125df0a1500abd7bd9195b7.webp" alt=""><figcaption class="wp-element-caption"><em><sub>TON/USDT daily chart. Source: TradingView</sub></em></figcaption></figure></div><p>The 20-day EMA is likely to act as a strong support. If the price returns 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 rise to $1.89 and attempt a rally to $2.07.</p><p>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 drop to $1.53 and next to the 50-day simple moving average ($1.45).</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/63f712f1660a3b6995f739d3ddab1c88.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/63f712f1660a3b6995f739d3ddab1c88.webp" alt=""><figcaption class="wp-element-caption"><em><sub>TON/USDT 4-hour chart. Source: TradingView</sub></em></figcaption></figure></div><p>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.</p><p>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 more substantial recovery to $1.90 and subsequently to $2.</p><h2 class="wp-block-heading" id="stellar-price-analysis">Stellar price analysis</h2><p>Stellar has staged a smart recovery in the past few days, indicating that the buyers are attempting a comeback.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/42fb551186c08d77f97bf733c39adff4.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/42fb551186c08d77f97bf733c39adff4.webp" alt=""><figcaption class="wp-element-caption"><em><sub>XLM/USDT daily chart. Source: TradingView</sub></em></figcaption></figure></div><p>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 the bulls are trying to flip the 20-day EMA into support.</p><p>The price has reached the 50-day SMA ($0.13), which is behaving as a roadblock. A minor positive in favour of the buyers 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.</p><p>This bullish view will be invalidated soon if the price turns down and plunges below the 20-day EMA.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/bb68433208d59e3be5bec6ca2927cd6e.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/bb68433208d59e3be5bec6ca2927cd6e.webp" alt=""><figcaption class="wp-element-caption"><em><sub>XLM/USDT 4-hour chart. Source: TradingView</sub></em></figcaption></figure></div><p>The bears try 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 attract buyers. If the price maintains above the overhead resistance, the pair could start an up-move to $0.15.</p><p>If bears want to prevent the up-move, they must quickly drag the price below the 20-EMA. That could accelerate selling and tug the price to the 50-SMA.</p><h2 class="wp-block-heading" id="monero-price-analysis">Monero price analysis</h2><p>Monero 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 a necessary level to keep an eye on.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/df318600fb5f081f62e703dce0363503.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/df318600fb5f081f62e703dce0363503.webp" alt=""><figcaption class="wp-element-caption"><em><sub>XMR/USDT daily chart. Source: TradingView</sub></em></figcaption></figure></div><p>If bulls drive the price above the 20-day EMA, it will suggest the start of a sustained recovery. The XMR/USDT pair could climb to the 50-day SMA ($151), where the bears may mount a strong defence again. If this obstacle is cleared, the pair could surge to $160.</p><p>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.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/cc96d67b65a61213024ad51c3195d9b4.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/cc96d67b65a61213024ad51c3195d9b4.webp" alt=""><figcaption class="wp-element-caption"><em><sub>XMR/USDT 4-hour chart. Source: TradingView</sub></em></figcaption></figure></div><p>The price action on the 4-hour chart shows a symmetrical triangle pattern formation. The flattish moving averages and the RSI near the midpoint do not give a clear advantage to the bulls or the bears.</p><p>If the price slips below the 50-SMA, the bears will try to pull the pair to the triangle’s support line. Contrarily, if the price rises 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.</p><h2 class="wp-block-heading" id="maker-price-analysis">Maker price analysis</h2><p>Maker has been stuck between the moving averages, indicating indecision among the bulls and the bears. A minor positive in favour of the bulls is that the price has been trading above the downtrend line.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/c01d238cf3e68c85778d03ecb95a5e82.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/c01d238cf3e68c85778d03ecb95a5e82.webp" alt=""><figcaption class="wp-element-caption"><em><sub>MKR/USDT daily chart. Source: TradingView</sub></em></figcaption></figure></div><p>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.</p><p>This optimistic view could be invalidated in the near term if the price re-enters the downtrend line. The MKR/USDT pair could slump to the strong support at $980. This level is likely to witness strong buying by the bulls.</p><div class="wp-block-image"><figure class="aligncenter"><img src="https://cdn.thebittimes.com/images/2023/09/11/70b5f73c82e0625854b595dcc36e7084.webp" alt="" class=" jetpack-lazy-image"><img src="https://cdn.thebittimes.com/images/2023/09/11/70b5f73c82e0625854b595dcc36e7084.webp" alt=""><figcaption class="wp-element-caption"><em><sub>MKR/USDT 4-hour chart. Source: TradingView</sub></em></figcaption></figure></div><p>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.</p><p>On the downside, the critical support to watch out for is $1,102 and $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.</p><p><strong><em>Source</em></strong></p></div><p>Source: <a rel="noopener noreferrer nofollow" href="https://thebittimes.com/potential-buyers-eye-ton-xlm-xmr-and-mkr-as-bitcoin-nears-26-500-tbt62213.html">https://thebittimes.com/potential-buyers-eye-ton-xlm-xmr-and-mkr-as-bitcoin-nears-26-500-tbt62213.html</a></p>

Potential Buyers Eye TON, XLM, XMR, and MKR as Bitcoin Nears $26,500

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