Bitcoin selling pressure is starting to taper off, drawing traders' attention to TON, XMR, MNT, and QNT.
. He said this could either be considered positive as whales were holding on to their positions or negative because the transfer to new investors was not happening.
. They believe that the declining open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange suggests that the long liquidation is over.As Bitcoin decides its next move, select altcoins are showing signs of strength. These altcoins could turn negative if Bitcoin’s range resolves to the downside but if Bitcoin turns up or stays in a range, then they may offer a short-term trading opportunity.
The BTC/USDT pair may start a stronger recovery if buyers thrust the price above the 20-day EMA. That could open the doors for a possible rally to the 50-day simple moving average . On the contrary, if the pair sustains above the moving averages, it will signal that the bulls have absorbed the selling. There is a minor resistance at $26,314 but if this crossed, the pair could climb to $26,610 and later to $26,833.Toncoin is forming an inverse head and shoulders pattern, which will complete on a break and close above $1.53.The gradually upsloping 20-day EMA and the RSI in the positive zone indicate that the path of least resistance is to the upside.
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