A handful of altcoins are showing bullish technical setups while Bitcoin price holds the $26,000 level.
) has staged a smart recovery in the past few days, indicating that the buyers are attempting a comeback.The up-move is nearing the solid resistance at $2, which is likely to act as a major roadblock. If the price turns down sharply from $2, it will indicate that the bulls are rushing to the exit. That could tug the price down to the 20-day EMA .
The first sign of weakness will be a break and close below the 20-EMA. That could tempt several short-term traders to book profits. The pair may then slump to the 50-SMA.Render broke out and closed above the 50-day SMA on Sep. 15, indicating that the selling pressure could be reducing.The moving averages are on the verge of a bullish crossover and the RSI is in the positive territory indicating that bulls have a slight edge.
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