Binance CEO Changpeng Zhao believes that the upcoming Bitcoin halving has not been priced in to the digital asset's current price action. The reduction in miner rewards volition increment the cost of mining each Bitcoin, meaning, miners are unlikely to sell below their cost of production.

Bitcoin's supply will decrease with the halving but its demand has too been increasing, creating a situation where prices are likely to driven college. Although CZ'due south statement can be interpreted as bullish, the CEO personally believes that Bitcoin'southward price might gravitate around $10,000 levels for a few more days as circular numbers are known to deed as psychological barriers.

The traded volumes in major cryptocurrencies have skyrocketed in the past year and this shows greater participation by the traders. Currently, Tether (USDT) is the most frequently traded crypto asset, followed past Bitcoin and Ether (ETH). Liquidity provides stability to the markets and limits sharp volatile moves and this should help to attract institutional investors who have been wary of they crypto sector's whipsaw volatility.

Daily cryptocurrency market operation. Source: Coin360

Sweden, one of the most cashless societies in the world, has begun a pilot plan to test its central bank digital currency, the e-krona. This program will exist operational until February 2022. Sweden is the second country, after the Bahama islands, that is closer to launching a truthful working national cryptocurrency. If successful, these projects could hasten efforts by other nations to follow arrange.

Tin can Bitcoin and altcoins resume their uptrends or will they enter into a longer period of consolidation? Let's study their charts to find out!

BTC/USD

Bitcoin (BTC) over again dropped beneath the 20-day EMA on Feb. xix, which triggered our suggested stop loss on the remaining long positions. Nevertheless, the bears have not been able to sustain the price beneath the xx-day EMA, which shows buying at lower levels.

BTC USD daily nautical chart. Source: Tradingview

Currently, the sequence of college lows is notwithstanding intact (shown via arrows on the chart). If the bulls tin now propel the price above the overhead resistance at $10,500, the uptrend will resume.

The beginning target is probable to be a motility to the long-term downtrend line, which is at $eleven,400. A intermission above the downtrend line will be a huge positive equally it can carry the BTC/USD pair to  $13,973.50. We might suggest long positions once once more after the cost moves above $ten,500.

Contrary to our assumption, if the bulls neglect to push the toll to a higher place $x,500, the bears will make some other effort to sink the price to the disquisitional support at $9,097.15. If this support breaks down, the advantage will plough in favor of the bears.

ETH/USD

Ether (ETH) has been consolidating between $235.70 and $288.599, which is a positive sign. As the maxim goes, the longer the consolidation, the stronger will exist the eventual breakout of it. With both moving averages sloping upwardly and the RSI in positive territory, the advantage is with the bulls.

ETH USD daily chart. Source: Tradingview

If the bulls tin push button the toll above $288.599, the uptrend volition resume. Above this level, the adjacent target to watch out for is $318 and above it $366. Traders can protect their remaining long positions with stops at $230.

Conversely, if the bears sink the price below $235.lxx, the ETH/USD pair will turn weak and can dip to $197.75.

XRP/USD

XRP reversed management from just below the overhead resistance at $0.31503 on Feb. 19. This shows that the bears are aggressively defending this level. It should exist noted that repeated retest of a support level weakens it and then investors are hopeful that the price will eventually give way.

XRP USD daily nautical chart. Source: Tradingview

If the bears can sink and sustain the price below $0.26362, the XRP/USD pair tin can dip to the fifty-mean solar day SMA at $0.248 and below information technology to $0.21302. The traders can keep the terminate loss on their long positions at $0.26.

Yet, if the price bounces off the support at $0.26362, the bulls will again endeavor to interruption in a higher place $0.31503. If successful, a motion to $0.34681 is possible, simply if the cost fails to scale higher up $0.31503 then a few days of range-bound activeness is probable.

BCH/USD

Bitcoin Cash (BCH) turned downwards from the trendline of the ascending aqueduct on Feb. 19, which shows that the bears are defending this level aggressively. The altcoin is currently attempting to bounce off the 50-day SMA at $358.

BCH USD daily nautical chart. Source: Tradingview

This shows that the bulls are still buying on dips to strong support levels. Even so, the rebound off the 50-mean solar day SMA has not been sharp, which shows that demand is drying upwards. If the price does non move up speedily, the bears will make another endeavor to sink the cost below the l-day SMA.

A movement beneath $352.72 can drag the toll to $306.78. The twenty-day EMA has started to slope down and the RSI has dipped into negative territory, which indicates that the bears have the upper hand. The BCH/USD pair will show strength afterwards it sustains above the twenty-day EMA.

BSV/USD

Bitcoin SV (BSV) has been stuck between both of the moving averages for the past 5 days. This shows that the range has been shrinking as traders are indecisive almost the next directional move.

BSV USD daily nautical chart. Source: Tradingview

If the bulls can button the price above the xx-day EMA, a move to $337.lxxx and above it to $382.47 is possible.

On the other paw, if the bears sink the toll below the fifty-day SMA, a retest of the support at $236 is possible. If this support breaks down, the BSV/USD pair will plough negative. Nosotros do not observe any reliable purchase setup at the electric current levels.

LTC/USD

Litecoin (LTC) turned down from the overhead resistance at $lxxx.2731 on February. xix. However, the bulls again defended the support at $66.1486. This shows that the altcoin is stuck between $80.2731 and $66.1486.

LTC USD daily chart. Source: Tradingview

The 20-day EMA has flattened out and the RSI is just higher up the midpoint, which suggests consolidation for the next few days.

A breakout above the $80.2731-$84.3374 zone is likely to resume the uptrend. In a higher place this zone, a rally to $100 will be on the cards. Conversely, if the bears sink the price below the 50-day SMA at $62.65, the LTC/USD pair will plough negative. We might suggest long positions after the price sustains higher up the small downtrend line.

EOS/USD

EOS turned downwards from the xx-mean solar day EMA on Feb. 19 and plunged below the support at $4. However, the buyers stepped in at $3.6253. Currently, the bulls take over again pushed the cost dorsum above $4.

EOS USD daily chart. Source: Tradingview

The price can now move up to the twenty-day EMA at $four.44. If the bears again defend the 20-twenty-four hours EMA, the EOS/USD pair might remain stuck between both the moving averages.

Alternatively, a intermission above the twenty-twenty-four hours EMA can behave the cost to the adjacent overhead resistance at $4.8719. The pair will weaken if the bears sink and sustain the toll below the 50-24-hour interval SMA at $3.93.

BNB/USD

Binance Money (BNB) dipped to an intraday low of $21 on Feb twenty, which triggered our recommended cease loss on the long positions. Currently, the toll has bounced back in a higher place $21.80 but the bulls are struggling to sustain the toll higher up the 20-day EMA at $22.44.

BNB USD daily chart. Source: Tradingview

If the BNB/USD pair fails to climb higher up $23.5213, the bears will over again attempt to sink the price beneath $21. If successful, a drop to the l-twenty-four hours SMA at $19 is possible.

Conversely, if the bulls can push the toll above $23.5213, a move to $27.1905 is possible. The flattish twenty-twenty-four hour period EMA and the RSI close to the midpoint suggest a few days of consolidation.

XTZ/USD

For the by two days, Tezos (XTZ) has formed long wicks on the candlesticks, which shows selling at higher levels. The bulls are facing selling close to the psychological resistance at $four. Notwithstanding, the positive affair is that the buyers have not given up much ground.

XTZ USD daily chart. Source: Tradingview

If the bulls can push the toll above $iv, the XTZ/USD pair will showtime its journey towards its next target objective of $4.8007036.

Conversely, if the bulls fail to sustain the price above $iv, the pair might again dip to $2.752 and remain range-bound for a few days.

LINK/USD

Chainlink (LINK) has been consolidating virtually the lifetime highs at $four.8671. Nosotros spot a developing symmetrical triangle formation, which usually acts as a continuation pattern. If the bulls can push the price higher up the triangle, the uptrend will resume.

LINK USD daily chart. Source: Tradingview

Both moving averages are sloping up and the RSI is shut to the overbought levels, which suggests that the bulls are in command. A breakout to new highs is likely to conduct the LINK/USD pair to $5.6934.

Conversely, if the bears sink the price below the triangle, the pair might enter a deeper correction and drop to $3. We will expect for the price to break out of the triangle earlier proposing a merchandise in it.

The views and opinions expressed here are solely those of the author and do non necessarily reflect the views of Cointelegraph. Every investment and trading move involves take a chance. Yous should deport your own enquiry when making a conclusion.

Marketplace data is provided by HitBTC exchange.