Aave

Litecoin

United

Bitcoin

Mantle

Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="noopener noreferrer nofollow" target="null" text="null">BTC</a>) price has been reeling under selling pressure and is on target to fall by more than 9% this week. Bitcoin has consistently formed lower highs for the past few months, which is a negative sign. This brings the onus on the bulls to defend the support.
The markets are gearing up for a major catalyst in the form of a September rate cut by the United States Federal Reserve. The FedWatch Tool shows a <a data-ct-non-breakable="null" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" rel="noopener noreferrer nofollow" target="null" text="null">30%</a> probability of a 50 basis point rate cut on Sep. 18. Some believe that if that happens, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/how-bitcoin-pro-traders-are-prepping-for-september-fomc-meeting" rel="noopener noreferrer nofollow" target="null" text="null">risk assets, including Bitcoin could rally</a>.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae82-085f-75e1-b010-1bd2cbf8c52c">
 <figcaption style="text-align: center;">
 Crypto market data daily view. Source: <a data-ct-non-breakable="null" href="https://coin360.com" rel="noopener noreferrer nofollow" target="null" text="null">Coin360</a>
 </figcaption>
</figure>
However, in the meantime, Bitcoin’s weakness has hurt the overall sentiment in the crypto sector. Several altcoins have given back their recent gains, and some have turned lower, indicating a lack of demand from buyers.
Only a handful are showing promise of a recovery in the near term. Will Bitcoin rebound off its nearby support, pulling select altcoins higher? Let’s study the top 5 cryptocurrencies that may participate in a crypto recovery if it happens.
<h2 id="bitcoin-price-analysis">Bitcoin price analysis</h2>
Bitcoin’s failure to rise above the moving averages is likely to add pressure and pull the price to the solid support at $55,724.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae82-c36b-7c98-b3c6-45f88950bddc">
 <figcaption style="text-align: center;">
 BTC/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The bulls are expected to guard the $55,724 support with all their might because a break below it could suggest the start of a downward move. The BTC/USDT pair could then plunge to the pivotal support at $49,000.
Time is running out for the bulls. If they want to make a comeback, they will have to swiftly push the price back above the moving averages. The pair may then climb to $65,000 and subsequently to $70,000.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae83-5b4c-7195-84e4-c5827898251f">
 <figcaption style="text-align: center;">
 BTC/USDT 4-hour chart. Source: TradingView
 </figcaption>
</figure>
The pair has been trading below the 20-exponential moving average on the 4-hour chart, indicating that the bears have the upper hand in the near term. Sellers will try to pull the price to $55,724 and then to $54,000. Buyers are expected to fiercely defend this zone.
The first sign of strength will be a break and close below the 20-EMA. The pair could then rise to the 50-simple moving average. If this level is surpassed, the pair may accelerate toward $65,000.
<h2 id="litecoin-price-analysis">Litecoin price analysis</h2>
Litecoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ltc-price-index" rel="noopener noreferrer nofollow" target="null" text="null">LTC</a>) has been in a downtrend for the past several weeks, but the bulls are trying to put in a higher low and a higher high.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae84-03eb-74d4-b5cf-494d90c4faf6">
 <figcaption style="text-align: center;">
 LTC/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The moving averages have flattened out, and the RSI is near the midpoint, signaling a balance between supply and demand. Buyers will have to kick and maintain the price above $68 to suggest a potential trend change. The LTC/USDT pair could then climb to $76.
Contrarily, if the price turns down from the 50-day SMA ($66) and breaks below $59, it will suggest that the bears have not given up. That could sink the pair to the crucial support at $55.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae84-a586-7253-a28b-9ffcf435ade9">
 <figcaption style="text-align: center;">
 LTC/USDT 4-hour chart. Source: TradingView
 </figcaption>
</figure>
The bulls are trying to start a recovery, but the bears are posing a strong challenge at $68. Sellers attempted to pull the pair toward $50, but the bulls bought the dips at $59. The flattish moving averages and the RSI near the midpoint do not give a clear advantage to either the buyers or the sellers.
If the price turns up from the moving averages and breaks above $68, it could start the next leg of the up move to $76. On the other hand, a break below the moving averages could pull the pair to $59. The bears will be back in command if the $59 support cracks.
<h2 id="fetch-ai-price-analysis">Fetch.ai price analysis</h2>
Fetch.ai (<a data-ct-non-breakable="null" href="https://cointelegraph.com/fetch-ai-price-index" rel="noopener noreferrer nofollow" target="null" text="null">FET</a>) rallied above the moving averages on Aug. 23, indicating that the bears are losing their grip.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae86-e012-795c-8715-c37d4e0ba5ce">
 <figcaption style="text-align: center;">
 FET/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The up move turned down from the overhead resistance of $1.51 on Aug. 27 and has dropped to the moving average. This is an essential level for the bulls to defend.&nbsp;
If the price turns up from the moving averages, the buyers will again try to drive the FET/USDT pair above $1.51. If they succeed, the pair will complete a bullish inverse head-and-shoulders pattern. This setup has a target objective of $2.32.
On the contrary, if the price breaks below the moving averages, it will signal a possible range-bound action between $1.51 and $0.70 for some time.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae87-732f-79f7-ab29-6218e9b42d8e">
 <figcaption style="text-align: center;">
 FET/USDT 4-hour chart. Source: TradingView
 </figcaption>
</figure>
The 4-hour chart shows that the pair has been in a correction, which is finding support at the 61.8% Fibonacci retracement level of $1.05. The bears halted the recovery at the 50-SMA, but the bulls are trying to put in a higher low at $1.12. If the price rises above the 50-SMA, the pair may retest the overhead resistance at $1.51.&nbsp;
Contrarily, if the price turns down from the 50-SMA, it will suggest that the sentiment remains negative, and traders are selling on rallies. The pair may then decline to $1.05.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitcoin-drops-8-6-august-september-2-week-low" rel="noopener noreferrer nofollow" target="null" text="null">Bitcoin loses 8.6% in August as September starts with fresh 2-week low</a>
<h2 id="mantle-price-analysis">Mantle price analysis</h2>
Mantle (<a data-ct-non-breakable="null" href="https://cointelegraph.com/mantle-price-index" rel="noopener noreferrer nofollow" target="null" text="null">MNT</a>) has been trading close to the 20-day EMA ($0.61) for the past few days, indicating a battle between the bulls and the bears.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae89-d4bb-7af5-becb-370b8b9e1f31">
 <figcaption style="text-align: center;">
 MNT/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
If buyers push and maintain the price above the 20-day EMA, it will suggest the start of a stronger recovery. The MNT/USDT pair may then attempt a rally to the 50-day SMA ($0.68), where the bears could step in. However, if the bulls prevail, the pair is likely to pick up momentum and move toward $0.90.
This optimistic view will be negated in the near term if the price turns down from the current level and breaks below $0.56. That could sink the pair to $0.47.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae8a-7672-7beb-bb1a-08aef137fc4a">
 <figcaption style="text-align: center;">
 MNT/USDT 4-hour chart. Source: TradingView
 </figcaption>
</figure>
The pair has been stuck inside a tight range between $0.56 and $0.66. The flattish moving averages and the RSI just below the midpoint do not give a clear advantage either to the buyers or the sellers.
If the price remains below the moving averages, the pair could slide to the $0.56 support. Alternatively, a break above the moving averages will clear the path for a rally to $0.66. The next trending move is likely to begin above $0.66 or below $0.56.
<h2 id="aave-price-analysis">Aave price analysis</h2>
Aave (<a data-ct-non-breakable="null" href="https://cointelegraph.com/aave-price-index" rel="noopener noreferrer nofollow" target="null" text="null">AAVE</a>) bounced off the strong support of $118, but the relief rally is facing selling near the 50% Fibonacci retracement level of $133.
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae8b-1309-78b8-ab9b-b35951433a28">
 <figcaption style="text-align: center;">
 AAVE/USDT daily chart. Source: TradingView
 </figcaption>
</figure>
The 20-day EMA ($123) is sloping up, and the RSI is just above the midpoint, indicating a minor advantage for the bulls. If the price again rebounds off $118, it will signal that the bulls are trying to flip the level into support. A break and close above $135 will open the doors for a rally to $149.
This positive view will be invalidated in the near term if the price turns down and breaks below $118. The AAVE/USDT pair may then plummet to the 50-day SMA ($109).
<figure><img alt="Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise" name="" src="https://s3.cointelegraph.com/uploads/2024-09/0191ae8b-9370-7a02-8cab-4d5d1598aec7">
 <figcaption style="text-align: center;">
 AAVE/USDT 4-hour chart. Source: TradingView
 </figcaption>
</figure>
The pair reversed direction from the downtrend line and broke below the 20-EMA. The bears will next try to pull the price to $118. This is an essential level for the bulls to defend if they want to resume the up move. If the price turns up from $118 and breaks above $135, it will suggest that the short-term correction may be over.
Instead, if the price continues lower and breaks below $118, it will signal that the bears are in charge. The pair may then drop to $105.
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.

Bitcoin is capped at $60K, but LTC, FET, MNT and AAVE show promise

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