Bitcoin is witnessing a see-saw battle near the 50-day SMA and if this support holds, BNB, ADA, XMR, and TON may break above their respective resistance levels.
) turned down from the neckline of the developing inverse H&S pattern but the sharp recovery from lower levels indicates aggressive buying on dips.Buyers have pushed the price back above the 20-day EMA and will again try to challenge the neckline. If this level is scaled, it will complete the bullish setup, clearing the path for a potential rise to $185 and thereafter to the pattern target of $199.
Contrarily, if the price continues lower and slides below the 20-EMA, it will suggest that the pair may remain stuck inside the channel for some more time. The bears will gain the upper hand on a break below the channel.Toncoin has formed a bearish descending triangle pattern but a positive sign in favor of the buyers is that the price has been trading near the resistance line of the triangle for the past few days.
The 4-hour chart shows that the pair is rising inside an ascending channel pattern. In the near term, the bears are trying to protect the $2.33 level but the bulls continue to attack the level with vigor.
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