Bitcoin and these four currencies are showing signs of growth

Cryptocurrency markets are showing no signs of volatility heading into the year-end holiday season, suggesting both bulls and bears are playing it safe and not making big bets due to uncertainty about the next direction. This indecisive phase is unlikely to last long as periods of low volatility are generally followed by increases in volatility.

Willie Wu, creator of on-chain analytics resource Woobull, predicts that the duration of the current bear market could be “longer than 2018 but shorter than 2015.”

The crypto winter resulted in the loss of more than $116 billion in personal capital from 17 cryptocurrency investors and founders, according to Forbes estimates. The massacre was so severe that the names of 10 investors were removed from the list of crypto-billionaires.

Will the bear market deepen further or show signs of recovery? Let’s look at the charts of Bitcoin (BTC) and some altcoins to find out.

BTC/USDT

Bitcoin has been trading in a tight range near the 20-day exponential moving average (EMA) of $16,929 for the past few days. This means that the bears are defending the level, but the bulls are not giving up yet.

This period of calm is unlikely to last long and the BTC/USDT pair may soon see a range widening. In general, it is difficult to predict the direction of the breakout and therefore it is better to wait for the pair to make a decisive move before starting directional bets.

And if the price breaks above the moving averages, the possibility of a rise to the general resistance at $18,388 increases. This level could once again act as a major obstacle, but if the bulls break through, the momentum could accelerate and the pair could rise to $20,000.

On the way down, a break below $16,256 would mean the bears are in control. Sellers will then try to push the pair to vital support at $15,476.

Both moving averages on the 4-hour chart have flattened out and the RSI is just below the position, indicating range-bound action in the near term. Range limits could be $17,061 on the upside and $16,256 on the downside.

A break above $17,061 would mean that the bulls have topped out and that could start a near-term rally. On the other hand, a drop below $16,256 would mean that the bears have consolidated their power.

ETH/USDT

Ethereum (ETH) has been holding the 20-day exponential moving average of $1228 for the past few days. This means that traders expect a break above the upper resistance level.

The 20-day moving average is flat and the RSI is right below its midpoint, indicating a balance between buyers and sellers. And if the bulls push the price above the moving averages, the ETH/USD pair could attract more buying. The pair could then rise to $1352 and later to the downtrend line, and this level could once again act as major resistance.

Conversely, if the price fails to break the moving averages, many short-term traders may sell aggressively. This could push the price towards the strong support at $1150. However, if this level breaks, the head and shoulders pattern can be completed. This could pave the way for a potential drop to $1,075 and then to $948.

The 4-hour chart shows that the recovery is facing resistance in the area between the 38.2% Fibonacci retracement level at $1,227 and the 50% retracement level at $1,251. And if the price falls below $1,180, the pair could retest the important support at $1,150.

Conversely, if the price rises and crosses above $1,251, the upside could reach the 61.8% retracement level at $1,275. If the bulls manage to overcome this hurdle, the pair could complete a 100% correction and rise to $1352.

TON/USDT

Toncoin (TON) has been consolidating in an uptrend for the past few days. Although the bulls were capped at $2.90, the positive side is that the bulls did not give too much, which suggests buying on the dips.

The 20-day moving average is rising to $2.25 and the RSI is in positive territory indicating that the bulls have the upper hand. And if buyers push the price above $2.50, TON/USDT could rise to $2.65 and then retest the $2.90 level.

The bears will likely have other plans as they try to pull the price below the 20-day moving average and consolidate their position. There is minor support at $2.15, but if this is not sustained, the pair could fall to the 50-day simple moving average (SMA) at $1.91.

The pair formed a symmetrical triangle on the four-hour chart. This indicates indecision between bulls and bears. Also, the stable moving averages and RSI near the midpoint do not give anyone a clear advantage.

The first sign of strength will be a break and close above the triangle resistance line, and this could trigger a rally to $2.90. If this level extends, the upside could reach the pattern target of $3.24.

If the price breaks from the 50-day simple moving average or the resistance line of the triangle, it will mean that the pair could extend its stay inside the triangle. A break below the support line could signal that the bears are back in control.

XMR/USDT

Monero (XMR) failed to rise above the resistance line of the falling wedge pattern over the past few days, but a positive sign is that the bulls are trying to hold the price above the 50-day SMA at $140.

The moving averages have flattened out and the RSI is now near the center. This indicates a balance between supply and demand. And if the price breaks above the 20-day moving average of $144, buyers will try to gain an advantage by driving XMR/USDT above the wedge. If that happens, the pair could rise to $174. A break above this level could indicate a possible trend reversal.

On the other hand, if the price falls below $138, the advantage could turn in favor of the bears. Then the pair could fall to $125.

The pair recovered from strong support at $138.50 and the bulls are trying to push the price above the moving averages. If they succeed, the pair could rise to the downtrend line, where the bears can once again build a strong defense.

But if the price turns below the downtrend line, the bears will try to pull the pair to $138.50. This is an important level to watch in the near term as a drop below it could complete a descending triangle pattern. Then the pair could fall to $132 and further to the target pattern of $124.

On the other hand, a rise above the downtrend line could invalidate the bearish position and pave the way for a potential rally to $153.

OCD/USDT

Centralized cryptocurrency exchanges have been at the center of the storm since the FTX crash, but OKB ( OKB ) is about to complete a bullish reversal pattern. That’s why it was chosen for the list.

The OKB/USDT pair has formed a large inverse heads and shoulders pattern, which will be completed after a breakout and close above $23.22. Both moving averages are trending up and the RSI is in positive territory, indicating that the path of least resistance is up.

And if the price rises above the psychological level of $25, the pair can start a new upward movement to $28 and then to $31. The objective of the pattern is to form a reversal at $36. This positive opinion can be reversed if the price breaks below the current level and falls below the moving average. After that, the pair could fall to $17.

The pair formed an ascending triangle pattern on the 4-hour chart. This bullish setup will end on a breakout and close above $24.15. If this happens, the pair can start a new upward movement towards the $31 target pattern.

Alternatively, if the price breaks down and breaks below the triangle, it will invalidate the bullish setup. This could stop strong buyers who have long expected a breakout. The pair may then slip to $20.

This article does not contain investment advice or recommendations. All investing and trading involves risk, and readers should do their own research when making a decision.