Bitcoin’s strong monthly close could trigger a rally in XRP, TAO, RUNE, and SEI.

Bitcoin (BTC) failed to rally after breaking $65,000, but it is a positive sign that the bulls have not given up much ground. This means that buyers are holding on to their positions, hoping that the uptrend will expand further.

The US-based spot Bitcoin exchange-traded fund (ETF) saw inflows of $1.1 billion last week, the largest weekly inflow since July 15-19. This shows that sentiment has changed positively. The rally pushed the cryptocurrency Fear and Greed Index into greed territory, hitting 63 on September 29th.

Another sign of retail traders entering the cryptocurrency market is the increase in downloads of Coinbase’s official app on the Apple AppStore. As of September 28, the app was ranked 385th most downloaded app, well above 500 and showing the dynamics of a bear market.

Will buyers be able to maintain the momentum, pushing Bitcoin and picking altcoins higher? Let’s take a look at the top five cryptocurrencies that are showing strength on the charts.

Bitcoin Price Analysis

Bitcoin has been holding above its breakout level of $65,000, indicating that bulls are in no rush to close positions.

The 20-day exponential moving average ($62,650) is trending higher, and the Relative Strength Index (RSI) is in positive territory, indicating the bulls are in charge. If the price rises from current levels, a rise to $70,000 is likely. Sellers are expected to fiercely defend the $70,000 to $73,777 range.

The downside is that the bears would need to drive the price below the 20-day EMA to signal that the bullish momentum is waning. The BTC/USDT pair may then fall towards the 50-day simple moving average ($60,206).

Both moving averages are rising on the 4-hour chart and the RSI is in positive territory, indicating that the path of least resistance is upwards. If the price rises above $66,500, the pair could soar to $70,000.

Conversely, if it falls below the 20-EMA, it means the trader is taking profits. The next support on the downside is the 50-SMA. A break below this support could push the price towards the $61,200 level.

XRP Price Analysis

XRP (XRP) formed an ascending triangle pattern and closes above $0.64.

If that happens, the XRP/USDT pair could begin an upward trend towards $0.74. This level has proven to be a significant hurdle for several months. Therefore, the bears will try to defend it again. However, if the bulls prevail, they could surge to the pattern target of $0.90.

Conversely, if the price declines sharply from current levels and falls below $0.64, it suggests that the breakout may have been a bulltrap. The pair could then fall towards the 20-day EMA ($0.58).

Looking at the 4-hour chart, the bulls have broken the $0.64 resistance level, indicating solid buying at higher levels. If the price stays above $0.64, the pair may move towards $0.74.

Meanwhile, the bears likely have other plans. They will try to drive the price below $0.64 and lock in the aggressive uptrend. The pair may then fall towards the 20-EMA. Buyers will need to defend this level to keep the bullish momentum intact.

Bittensor Price Analysis

Bittensor (TAO) rebounded and closed above the $530 resistance level on September 23, but the bulls failed to extend the recovery above $600.

A positive sign in favor of the bulls is that the price did not allow to close below the solid support level of $530. If the price continues to rise and breaks above $600, it is a sign of the resumption of the upward trend. The TAO/USDT pair could rise to $640 and then to $720.

Alternatively, if the price falls below $530, the next support is at $489. Buyers are expected to defend this area aggressively. Bears will get back in the game once the price falls below the 20-day EMA.

Bulls are strongly defending the $489-$535 area, which indicates buying on the decline. If the price remains above $563, the pair could retest the $600 level. This is an important resistance line for bears to defend, as a break above this line could initiate the next uptrend leg.

Conversely, if the price declines and falls below $489, it suggests that a deeper correction is about to begin. The pair could fall to $450 and then fall to $400. The deeper the decline, the longer it takes for the uptrend to resume.

relevant: XRP leads the cryptocurrency weekend gains, driven by a surge in open interest.

THORChain Price Analysis

THORChain (RUNE) rebounded and closed above the $5 overhead resistance line on September 26, signaling the start of a new upward move.

RSI with rising moving averages and near overbought zones suggests that buyers have the upper hand. A small decline to the $5 level cannot be ruled out. If the price bounces strongly from $5, the chances of a rally above $6 will increase. The RUNE/USDT pair could then rise to $7.

If bears want to stop the advance, they will need to pull the price below the 20-day EMA ($4.66). Such movements suggest that the breakout may have been a bull trap. The pair could then fall to its 50-day SMA ($4.11).

On the 4-hours chart, the pair has reverted to the 20-EMA. If this support is broken, the correction could reach the $5 breakout level. Buyers are expected to vigorously defend $5 support.

On the other hand, if the price falls below $5, it means the bulls are rushing to take profits. This could initiate a deep correction towards the next important support level at $4.40.

Sei price analysis

Sei (SEI) rose above $0.43 overhead resistance on September 24th, indicating that the bulls are attempting a rebound.

The 20-day EMA ($0.38) has started to rise and the RSI is in the overbought zone, indicating an advantage for buyers. A sustained bounce to $0.43 would signal that the bullish trend has reversed to a support level. This will increase the chances of continuing the upward trend. The SEI/USDT pair may surge to $0.60 and then to $0.70.

Conversely, if the $0.43 support is broken, the pair could fall towards the 20-day EMA. For the bears to regain control, they need to keep the price below the 20-day EMA.

The pair bounced off the $0.43 support level, indicating that sentiment has turned positive and traders are buying on the dip. If the price remains above $0.46, the bulls will attempt to retest the overhead resistance at $0.50. A break and close above this level would signal a resumption of the upward movement.

This optimistic outlook will be invalidated in the near term if the price declines and falls below the 50-SMA. The pair could then fall to $0.36, with buyers expected to intervene.