Bitcoin’s recent weakness has pulled several altcoins lower, but TON, AVAX, KAS and XMR look set to move higher.) fell below $60,000 during the week, but lower levels attracted buyers who are trying to start a recovery. Bitcoin remains stuck inside the $56,552 to $73,777 range, indicating a tussle between the bulls and the bears. It is difficult to predict the direction of the breakout with certainty.
This positive view will be invalidated in the near term if the price turns down sharply and breaks below $6.60. That will complete a bearish head-and-shoulders pattern, which has a target objective of $4.91.The 4-hour chart shows that the bulls are buying the dips to the 50-SMA. If the price rises and sustains above $7.67, the pair may start its journey to $8.29. However, the bears are unlikely to give up easily and will pose a strong challenge at $7.87 and again at $8.1.
Contrary to this assumption, if the price continues lower and breaks below the 20-EMA, it will suggest profit booking by short-term traders. The pair may then tumble to the 50-SMA and eventually to $23.51.The upsloping moving averages and the RSI in the overbought territory suggest that the bulls are in control. If buyers maintain the price above $0.19, the KAS/USDT pair could start the next leg of the rally. The pair may climb to $0.24 and reach the pattern target of $0.28.
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