A potential Bitcoin price range expansion to $18,000 could be followed by stronger gains in XMR, $TON, $TWT and AXS.
) has been trading inside a falling wedge pattern for the past several days. The upsloping 20-day EMA and the RSI in the positive zone indicate that bulls have an edge.The XMR/USDT pair could rise to the resistance line of the wedge, where the bulls are likely to encounter strong selling by the bears. If the price turns down from the resistance line and breaks below the moving averages, it will suggest that the pair may extend its stay inside the wedge.
Contrarily, if the price fails to sustain above the triangle, it will suggest that bears continue to sell on rallies. A break below the 50-day simple moving average of $1.70 could trap the aggressive bulls, pulling the pair to the support line of the triangle.The moving averages on the four-hour chart are sloping up and the RSI is in the overbought zone, indicating that bulls are in command.
The bears are likely to have other plans as they will try to defend overhead resistance at $2.73. They will have to pull the price below the 20-day EMA to gain the upper hand.The four-hour chart shows that bulls have been buying the dips to the moving averages. Although the moving averages are sloping up, the RSI is showing a negative divergence, indicating that the bullish momentum may be weakening. This may change if bulls thrust the price above $2.73 as that could attract further buying.
The bullish view could invalidate in the near term if the price turns down and breaks below the moving averages. The AXS/USDT pair could then slide to $6.57.The four-hour chart shows that bears are vigorously defending the downtrend line and the bulls are buying the dips to the 50-SMA. The 20-EMA has flattened out and the RSI is near 47, indicating a balance between supply and demand.
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