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

Bitcoin (BTC) failed to run after the crash above $65,000, but a positive sign is that the bulls haven't given up much space. This indicates that buyers are holding their positions as they expect the upward movement to extend further.

The US-based venue saw $1.1 billion inflows of Bitcoin exchange-traded funds last week, the largest weekly inflow since July 15-19. This shows that the mood has changed to positive. The rally pushed the Crypto Fear and Greed Index into greed territory at 63 on September 29.

Another sign of retail traders entering the crypto markets is the increase in downloads of Coinbase's official app on the Apple AppStore. On September 28, the app was the 385th most-downloaded app, a trend that has risen above the 500th spot and is associated with bear markets.

Can buyers maintain the momentum and push bitcoin higher, pushing altcoins higher? Let's study the top 5 currencies that look strong on the charts.

Bitcoin price analysis

Bitcoin has held above the $65,000 level, indicating that the bulls are in no rush to close their positions.

The 20-day exponential moving average ($62,650) is trending higher, and the Relative Strength Index (RSI) is in positive territory, indicating that the bulls are in charge. If the price changes from the current level, the probability of collecting $70,000 will increase. Sellers are expected to defend the zone between $70,000 and $73,777.

On the downside, bears need to break below the 20-day EMA to signal that momentum is weakening. The BTC/USDT pair may drop to its 50-day simple moving average ($60,206).

Both moving averages are moving up on the 4-hour chart, and the RSI is in the positive zone, indicating that the path is up with the least resistance. If the price is more than $66,500, the pair can go up to $70,000.

Conversely, a break below the 20-EMA suggests that traders are taking profits. The next support is at the 50-SMA. A break below this support could push the price higher towards $61,200.

XRP price analysis

XRP (XRP) formed an ascending triangle pattern, which ended above $0.64.

If that happens, the XRP/USDT pair may start rallying towards $0.74. This step proved to be a critical obstacle for many months; So, the bears try to defend again. However, if the bulls win, the pair could rise to the $0.90 pattern target.

Conversely, if the price drops significantly from the current level and breaks below $0.64, it suggests that the breakout may be a bull trap. The pair may decline towards the 20-day EMA ($0.58).

The 4-hour chart shows that the bulls have pierced the resistance of $0.64, which indicates strong buying at higher levels. If the price holds above $0.64, the pair may start moving towards $0.74.

Meanwhile, the bears may have other plans. They will try to push the price back below $0.64 and trap aggressive bulls. The pair may descend towards the 20-EMA. Buyers should avoid this phase if they want to keep the momentum going.

Bittensor value analysis

Bittensor (TAO) rallied and closed above $530 resistance 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 it to close below the strong support at $530. If the price continues higher and breaks above $600, it indicates the resumption of the uptrend. The TAO/USDT pair may reach $640 and then $720.

Alternatively, if the price breaks below $530, the next support is at $489. Rulers are expected to aggressively defend this zone. The bears will return to play if the pair enters below the 20-day EMA.

The bulls are strongly defending the $489 to $535 zone, which indicates buying on the dips. If the price holds above $563, the pair could retest the $600 level. This is an important defense for the bears to maintain because a break above it could initiate the next leg of the uptrend.

On the contrary, if the price decreases and breaks below $489, it suggests that a deep correction should begin. The pair will drop to $450 and then $400. The deeper the fall, the longer it takes to move up.

RELATED: XRP Leads Crypto Weekend Gains As Open Demand Grows

THORChain price analysis

THORChain (RUNE) rallied and closed above $5 on September 26, signaling the start of a new uptrend.

Upward moving averages and RSI near the overbought zone suggest that buyers are dominant. A slight retracement to the $5 breakout level cannot be ruled out. If the price recovers strongly to $5, it improves the possibility of a rally above $6. The RUNE/USDT pair may rise to $7.

Bears need to drag the price below the 20-day EMA ($4.66) if they want to protect the upside. Such a move suggests that the cut may be a bull trap. The pair may slide towards the 50-day SMA ($4.11).

The pair has returned to the 20-EMA on the 4-hour chart. If this support is broken, the correction could be towards the $5 level. Buyers are expected to aggressively defend the $5 support.

On the other hand, if the price declines and breaks below $5, it suggests that the bulls will take profits in a hurry. That could initiate a deep correction to the next critical support at $4.40.

Sei price analysis

Sei (SEI) rose above resistance at $0.43 on September 24, indicating that the bulls are trying to bounce back.

The 20-day EMA ($0.38) has started to come up, and the RSI is in the overbought zone, indicating gains for buyers. If the retracement of $0.43 continues, it will indicate that the bulls have reversed the level to support. This increases the possibility of continuing the upward movement. The SEI/USDT pair may rise to $0.60 and then to $0.70.

Conversely, if the $0.43 support is breached, the pair may descend towards the 20-day EMA. For the bears to regain control, the price must sink below the 20-day EMA and hold.

The pair has retested the $0.43 support, indicating that the sentiment has turned positive, and traders are buying dips. If the price holds above $0.46, the bulls will try to retest the breakeven resistance at $0.50. A break and close above this level suggests a resumption of an upward move.

If the price declines and breaks below the 50-SMA, this optimism is worthless in the near term. The pair can drop to $ 0.36, the buyers are expected to enter.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.