The total crypto marketplace capitalization has topped $300 billion for the first time since early-Baronial of 2022. This shows that the bulls are back in action. Interestingly, it is not only the crypto markets that have been moving up, fifty-fifty the US stock markets have been making new lifetime highs in 2022.

Currently, the Dow Jones index is currently close to 29,500 points. Even so, Fundstrat Global Advisors co-founder, Tom Lee, believes that Bitcoin will pip the Dow Jones for the race to 40,000.

Chicago Mercantile Commutation chief economist Bluford Putnam echoed the pop belief that Bitcoin is a not-correlated asset and tin can be a valuable add-on to traditional portfolios. Due to Bitcoin'south high volatility, Putnam suggested a 2% allocation to Bitcoin in the typical hedge-type portfolio, which commonly holds 60% stocks and 40% fixed income assets, such equally bonds.

Daily cryptocurrency market functioning. Source: Coin360

Bitcoin remains the largest cryptocurrency in focus just throughout this contempo rally many altcoins that have led from the front. This shows that the market participants are diversifying abroad from Bitcoin and are ownership altcoins that take strong potential.

Will altcoins continue to lead this rally or will Bitcoin pick up momentum? Let's analyze the charts to find out.

BTC/USD

The bulls are attempting to button Bitcoin (BTC) in a higher place the overhead resistance at $10,360.89. If successful, a rally to the long-term downtrend line at $11,500 is possible. The upsloping moving averages and the RSI in positive territory show that bulls have the upper hand.

BTC USD daily nautical chart. Source: Tradingview

In Aug. and Sep. of last year, the bulls had failed to push the price higher up $11,000. Therefore, we expect several hurdles between the current levels and the downtrend line.

However, if the bulls do non surrender much footing during corrections, it would increment the possibility of a suspension above the downtrend line. Above this level, there is a pocket-sized resistance at $13,973.50. If this level is scaled, a retest of the lifetime highs is probable.

The start sign of weakness would be a intermission below the xx-day EMA and a possible change in trend would be signaled if the bears sink the BTC/USD pair below $9,097.15. Therefore, the traders can retain the stop loss on the remaining long positions at $eight,900. The stops tin can exist trailed higher after the price sustains in a higher place $10,360.89.

ETH/USD

Ether (ETH) has broken above the overhead resistance at $235.70 without much difficulty, which is a huge positive. This shows that the sentiment is strongly in favor of the bulls. The next level to watch out for is $289.221 and higher up it $318.238.

ETH USD daily chart. Source: Tradingview

Both moving averages are sloping upwardly and the RSI is in the overbought zone, which shows that bulls are in command. During strong up moves, the RSI can remain in overbought territory for an extended period of fourth dimension.

Therefore, we exercise not suggest endmost a trade just because the RSI is in the overbought zone. Nonetheless, the deeper the RSI rises into the overbought territory, the more vulnerable the nugget is to a correction. Therefore, it is prudent to protect the paper profits with a close stop loss.

Our bullish view will be invalidated if the ETH/USD pair turns down from the current levels and sustains beneath the breakout level of $235.70. Therefore, the traders can trail the terminate-loss on the remaining long positions to $210.

XRP/USD

Later on a few days of consolidation, the bulls have pushed the price above the long-term downtrend line. This is a huge positive as information technology increases the possibility of a new uptrend in XRP. The next level to watch out for is $0.31503.

XRP USD daily nautical chart. Source: Tradingview

We spot a rounding bottom pattern, which will complete on a breakout and close (UTC time) above $0.31503. This pattern has a target objective of $0.45538. Though in that location is a minor resistance at $0.34229, we look it to exist crossed.

Our bullish view will be invalidated if the toll turns down from the overhead resistance at $0.31503 and plunge below the most recent depression of $0.26362. Therefore, the stops on the long positions can be trailed to $0.26.

BCH/USD

Bitcoin Greenbacks (BCH) has resumed its up motion. It can now move up to the psychological resistance at $500 and above it to the resistance line of the ascending channel at about $522.

BCH USD daily chart. Source: Tradingview

We anticipate the bears to mount a strong defense force in the $500 to $522 range. The deeply overbought reading on the RSI also signals the possibility of a minor correction or a menses of consolidation.

However, as long every bit the price remains within the ascending channel, its uptrend remains intact. The first sign of weakness will exist a suspension below the support line of the ascending aqueduct.

BSV/USD

Bitcoin SV (BSV) has resumed its up movement towards the lifetime highs at $458.74. With both moving averages sloping upward and  RSI close to the overbought zone, the advantage is with the bulls.

BSV USD daily chart. Source: Tradingview

Still, the bears will effort to stall the up move in the $373.653-$411.074 zone, which corresponds to 61.eighty% and 78.60% Fibonacci retracement level of the recent pullback from the summit of $458.74 to the trough of $236.

Whatever pullback in the BSV/USD pair is likely to find back up at $337.fourscore. A breakdown of this support volition betoken a lack of demand at higher levels.

LTC/USD

Litecoin (LTC) is shut to the overhead resistance at $fourscore.2731. If the bulls tin push the price above this resistance, it volition be a huge positive. The next level to watch on the upside is $96.439, which is the target objective of the breakout from the rounding bottom pattern.

LTC USD daily chart. Source: Tradingview

Both moving averages are sloping upwardly and the RSI is in the overbought territory, which suggests that bulls have the upper mitt.

The commencement sign of weakness volition be a break beneath the 20-solar day EMA. Below this level, the next critical support is $66.1486. Our bullish view will be invalidated if the bears sink the LTC/USDT pair below this support.

EOS/USD

EOS has resumed its up motility towards the offset target objective of $6. This is a huge positive. We conceptualize the bears will defend the $6 levels aggressively. The RSI has risen deep into the overbought zone, which also suggests a possible correction or consolidation in the next few days.

EOS USD daily chart. Source: Tradingview

Any pullback from the overhead resistance level is likely to notice support at $4.8719. If the price rebounds off $4.8719, the bulls will attempt to resume the up move. Above $half-dozen, the next level to scout out for is $vii.sixty.

However, if the bears sink the cost below $four.8719, the correction tin can extend to the adjacent support at $iv.24. A break below this level volition turn the tendency in favor of the bears.

BNB/USD

Binance Coin (BNB) has sustained above $23.5213 for the past 3 days, which confirms the breakout. It can now move upward to the adjacent target objective of $29. Though the trend remains upward, the deeply overbought reading on the RSI suggests a possible correction.

BNB USD daily chart. Source: Tradingview

Whatsoever dip is likely to find support in the $23.5213 to $21.fourscore zone. If the price bounces off this zone, the bulls will again endeavor to carry the cost to $29 and above it to $32.

Our bullish view will be invalidated if the bears sink the cost below the support zone. Therefore, traders tin continue the end loss on the unabridged long position at $21.

XTZ/USD

The momentum in Tezos (XTZ) has carried the price higher up $three.35, which was the target objective of the breakout from the ascending triangle. Though the tendency remains upward, the rally post-obit the breakout from the triangle has been vertical. Such rallies are commonly not sustainable.

XTZ USD daily chart. Source: Tradingview

The sharp step of the rally has pushed the RSI deep into the overbought territory, which increases the possibility of a pullback. The pullback can drag the XTZ/USD pair to $ii.67141380, which is the 38.2% Fibonacci retracement level of the recent leg of the rally from $ane.4576 to $3.4217.

We believe that the risk to reward ratio at the current levels is skewed to the downside. Hence, traders should protect their positions with a suitable stop loss and should not get carried away past greed.

ADA/USD

The bulls have pushed the price above the overhead resistance at $0.065229. If the bulls tin sustain the breakout, Cardano (ADA) can move upwardly to its first target objective of $0.08 and above it to $0.10.

ADA USD daily chart. Source: Tradingview

However, this leg of the upward movement has pushed the RSI deep into the overbought territory. This suggests that a pullback might be effectually the corner.

The commencement support on the downside is $0.065229. If the ADA/USD pair bounces off this back up, it is likely to climb up to $0.08.

On the other mitt, if the bears sink the toll below $0.065229, the pass up can extend to $0.0560221. A intermission below this level will turn the trend in favor of the bears. The traders tin can trail the stop loss on the remaining long positions to $0.06.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading motion involves risk. You should conduct your own inquiry when making a decision.

Market data is provided by HitBTC substitution.