During a crisis, the first affair panic-stricken investors do is to sell about every asset form they perceive is likely to go downward. However, later the panic settles downwardly, the bottom fishers step in and start buying the assets that testify value. We have seen both of these phases play out for cryptocurrencies.

The sharp selloff on March 12 was a practiced example of panic and the abrupt correction was rapidly followed past a stage of cherry-picking by long-term investors. Since bottoming out on March 13, most major cryptocurrencies have rebounded and proceed to press higher.

After the selling ends, the markets brainstorm to react to positive news. Currently, several asset classes like the equity markets, gilt, and cryptocurrencies are moving upwardly in unison as the market participants believe that the worst of the coronavirus pandemic in Europe and the US is likely behind us.

Daily cryptocurrency market place performance. Source: Coin360

Equities markets could be going up because of the huge stimulus measures that take been announced by primal banks across the world. For the same reason, gold is also going upward because coin printing will somewhen reduce the purchasing power of fiat currencies and could also lead to a financial crisis in the time to come.

Some believe that the primal banks have no bullets left to fight the side by side crisis and this volition result in a movement away from fiat. Also, the additional liquidity will have to go somewhere. With crypto prices yet way below their highs, they could possibly offer an bonny investment opportunity.

Every bit normalcy returns, the crypto markets volition start focusing on its fundamentals. News and events similar the development of central bank digital currencies (CBDCs), the upcoming Bitcoin halving and other crypto-related events will start influencing crypto toll activeness again.

BTC/USD

Bitcoin (BTC) has again broken out of the overhead resistance at $7,000. If the bulls can sustain the price to a higher place this level, a rally to $8,000 and above it to $9,000 is possible.

BTC–USD daily chart. Source: Tradingview

However, the bears might not throw in the towel without a fight. They are probable to defend the l-solar day SMA at $7,517. If the BTC/USD pair turns downwardly from this level only finds support higher up $7,000, it volition signal a higher flooring.

Our bullish view will be invalidated if the pair turns down from the current levels or the 50-day SMA and breaks beneath $6,553.21. The traders can trail the stops higher to $vi,500 after the pair scales higher up the 50-solar day SMA. Until then, the stops on the long positions tin can exist maintained at $5,600.

ETH/USD

Ether (ETH) has broken out of the overhead resistance at $155.612. If the price tin close (UTC fourth dimension) above this level, it will trigger our buy suggested in an earlier assay. The outset target is a move to the 50-day SMA at $182.

ETH–USD daily chart. Source: Tradingview

If the momentum can push button the ETH/USD pair above the 50-day SMA, a rally to $208.50 and above information technology to $250 is likely.

Our bullish view will be invalidated if the pair turns downward from the current levels or the 50-day SMA and plunges below the critical support at $117.090.

XRP/USD

XRP has broken above the overhead resistance at $0.18867. If the bulls can sustain the altcoin above this level, it will bespeak force. There is a modest resistance at the 50-solar day SMA ($0.20) and higher up this level a rally to $0.25 is possible.

XRP–USD daily chart. Source: Tradingview

Our bullish view will be negated if the buyers fail to sustain the XRP/USD pair higher up $0.18867. In such a case, the bears will try to sink the pair dorsum below $0.17468. If successful, a drib to $0.15708 is possible.

For now, the stops on the long positions can be trailed higher to $0.155. We will suggest abaft the stops higher over again after the price sustains higher up the fifty-solar day SMA.

BCH/USD

After trading between the 20-day EMA and $250 for the past few days, the bulls are currently attempting to propel Bitcoin Cash (BCH) above $250. If successful, we anticipate a breakout that can carry the altcoin to $350.

BCH–USD daily chart. Source: Tradingview

The bears are likely to offer resistance at the 50-24-hour interval SMA at $272 but we look this level to be crossed. Hence,  traders tin initiate long positions as proposed past in an earlier analysis.

Contrary to our assumption, if the BCH/USD pair reverses management from the 50-day SMA and breaks below $222.43 it will signal weakness.

BSV/USD

Bitcoin SV (BSV) has been stuck between $185.87 and the 20-day EMA for the past few days. This consolidation in a tight range is a positive sign every bit it increases the possibility of a breakout above the overhead resistance.

BSV–USD daily chart. Source: Tradingview

On a break to a higher place $185.87, the bulls might again hit a hurdle at the 50-24-hour interval SMA, which is close to $200. However, if the altcoin can clear this resistance, the BSV/USD pair is likely to rally to $233.314 and perchance $260.86.

Our bullish view will exist invalidated if the pair fails to sustain above $185.87 or turns down from the 50-day SMA and plunges below $146.96. Therefore, the stops on the long positions can be maintained at $146.

LTC/USD

The bulls are attempting to sustain Litecoin (LTC) above the overhead resistance at $43.67. If successful, the altcoin is likely to outset a new uptrend that tin carry information technology to the 50-day SMA at $50 then $63.

LTC–USD daily chart. Source: Tradingview

Though there is a pocket-sized resistance at $52.2767, we await the level to exist crossed. Therefore, traders can initiate long positions as recommended by in an earlier analysis.

If the bulls neglect to sustain the price to a higher place $43.67, the LTC/USD pair might extend its stay within the range. A break below $35.8582 will turn the tide in favor of the bears.

EOS/USD

EOS closed (UTC time) higher up the 20-day EMA on April four, which triggered our purchase suggested in an earlier assay. Nonetheless, the traders who could non initiate long positions on that solar day tin can fifty-fifty do so on any dips towards $2.50.

EOS–USD daily chart. Source: Tradingview

The get-go target is the zone between the l-twenty-four hours SMA at $2.9423 and $iii.1802. The bears are likely to offer stiff resistance in this zone, which might upshot in a consolidation or minor correction. Withal, we expect the upwardly movement to continue and achieve the adjacent target of $3.86.

Our bullish view will be invalidated if the buyers neglect to sustain the EOS/USD pair higher up $2.4001. In such a case, the pair tin can re-enter the $2.0632-$two.4001 zone. A break below $2.0632 will signal weakness. Therefore, the stops tin be kept at $2.

BNB/USD

Binance Coin (BNB) has broken out of the overhead resistance at $13.65 and is currently attempting to calibration above the downtrend line. If successful, it volition indicate a change in trend. Therefore, we retain the buy suggested in the previous analysis.

BNB–USD daily nautical chart. Source: Tradingview

The 50-day SMA at $15.ninety might act as a resistance but we expect it to be crossed. Above this level, a move to $17.50 and above information technology to $21.eighty is probable.

Our bullish view will be invalidated if the BNB/USD pair turns down from the current levels and plummets below the support at $eleven.2552.

XTZ/USD

Tezos (XTZ) had been trading close to the 20-day EMA for the past 4 days. Though the bulls could non sustain the price higher up the 20-solar day EMA, they did not requite up much footing, which indicates strength.

XTZ–USD daily chart. Source: Tradingview

The bulls accept again pushed the toll above the 20-day EMA at $one.74, which is probable to result in a rally to the horizontal overhead resistance of $ane.955. The bears volition over again attempt to defend this level aggressively.

However, if the bulls tin propel the XTZ/USD pair above $one.955 and the downtrend line, a new uptrend is likely. The flat 20-day EMA and the RSI only above the midpoint propose that the sellers are losing their grip.

Traders can initiate long positions every bit suggested in an before analysis. The bullish view volition be invalidated if the pair turns down from the electric current levels or $1.955 and plummets below $1.4453.

LEO/USD

The bulls are struggling to proceed Unus Sed Leo (LEO) above the overhead resistance of $1.04. This shows a lack of buyers at higher levels. The only positive is that the bulls accept aggressively defended the 20-solar day EMA for the past few days.

LEO–USD daily chart. Source: Tradingview

If the bulls can push the cost above $1.057, the LEO/USD pair is likely to embark its journeying towards its target objective of $ane.27488 and above it $ane.36. The up sloping moving averages and the RSI in the positive territory suggest that bulls accept the upper manus.

Our bullish view volition be invalidated if the pair turns down from the current levels or $1.057 and plummets below $1.0061. Therefore, the traders can trail the stops on the long positions to $1.

The views and opinions expressed hither are solely those of the author and do not necessarily reverberate the views of Cointelegraph. Every investment and trading move involves hazard. You should conduct your own research when making a decision.

Marketplace data is provided by HitBTC substitution.