ETH, UNI, FIL and GRT turn into bulls as Bitcoin price hovers above $51K.

After a strong run for two weeks, Bitcoin (BTC) is taking a breather near the $52,000 level. The bears are trying to start a correction, but the bulls have no sense of regret. Strong equity markets, the upcoming halving and strong entry into the space of Bitcoin exchange-traded funds could limit any downside.

Analysts closely monitor flows into spot Bitcoin ETFs to determine the next directional movement in Bitcoin. According to BitMEX research data, the flow of Greyscale Bitcoin Trust was only $44 million on February 24, the lowest since January 11.

As Bitcoin continues to stay above $50,000, crypto sentiment remains positive. As Bitcoin strengthens, short-term traders may look for trading opportunities in altcoins that are showing strength.

Can Bitcoin continue to rise after a while? Will altcoins follow Bitcoin higher? Let's take a look at the top 5 cryptocurrencies that look strong on the charts.

Bitcoin price analysis

Bitcoin has been finding support near $50,500 and resistance near $53,000, indicating consolidation in a tight range. This is a positive sign, which shows that the bulls are not going too fast to the exit.

A rising moving average and relative strength index (RSI) near the overbought zone suggest that the bulls are dominant. A break and close above $53,000 could open the doors for a rally to $60,000.

Time is running out for the bears. If they want to defend the rally, they need to quickly pull the price below $48,970. If they do that, the BTC/USDT pair could fall to the 50-day simple moving average ($45,542).

The moving averages on the 4-hour chart are flat, and the RSI is just above the midpoint, indicating a slight advantage for the bulls. If the price stays above the 50-SMA, the pair may rise to $53,000. This level can be used as a strong resistance, but if crossed, the pair can rally to $55,000 and then to $60,000.

Conversely, if the price falls below $53,000, the pair could remain range-bound for some time. A slide below $50,500 could sink the pair to $48,970. This is critical short-term support for us to watch as a break below will tilt the advantage to the bears.

Ether price analysis

Ether (ETH) has been in a strong uptrend for the past several days. The bears tried to stop the upward move near $3,000, but a shallow correction suggests the bulls are not willing to relent.

An uptrending 20-day moving average ($2,784) and an RSI in the oversold zone indicate that the bulls are in command. Above $3,000 may start the next leg of the rise. The ETH/USDT pair may rise first to $3,300 and then to $3,650.

On the downside, the first support is $2,850, and then the 20-day EMA. A break below the 20-day EMA suggests that the bulls may take profits in a hurry. The pair may fall towards $2,717 and eventually towards the 50-day SMA ($2,527).

The pair is facing resistance near $3,000, but a positive sign is that the bulls have not allowed the price to drop below the 50-SMA. The 20-EMA has started to turn up, and the RSI is in positive territory, indicating that the path of least resistance is up. If the price stays above $3,000, the pair could continue to rise.

The first sign of weakness is a break and close below the 50-SMA. If buyers fail to defend this level, the pair may drop to $2,850 and then to $2,717.

Uniswap price analysis

Uniswap (UNI) rose above $7.79 on February 23, indicating that the bulls are in control.

A long wick on February 24 shows a strong profit margin around $12.85. That has initiated a correction, which may find support at the 50% Fibonacci retracement level at $9.91. If the price changes from the current level, the bulls will try to push the UNI/USDT pair to $11.63 and later to $12.85. A break above $12.85 could clear a rally to $17.

Conversely, if the price falls below $9.91, the next stop would probably be the 61.8% Fibonacci retracement level of $9.21. Overall, a break below the 61.8% retracement level indicates potential upside.

The bulls are trying to keep the pair above the 20-EMA on the 4-hour chart. If the price changes from the current level, it may again face strong resistance at $11.63. If buyers don't give much space above $11.63, it increases the chance of a rally to $12.85.

Conversely, if the price continues lower and breaks below the 20-EMA, it indicates that the bears are trying to recover. The pair can dip to $9.21 and then to the 50-SMA. The deeper the fall, the longer the time required for the start of the next upswing.

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Filecoin price analysis

The bulls have not been able to push and hold Filecoin (FIL) above the $8.12 resistance over the past few days, but they continue to push.

The bulls are trying to clear the upper zone between $8.12 and $8.57 on February 25. If they succeed, it marks the start of the climb again. The FIL/USDT pair may reach $10 resistance, the bears are expected to mount a formidable resistance.

Contrary to this assumption, if the price declines and breaks below $7.70, it shows that the bears will strongly defend the upper zone. That could start a decline towards the 20-day EMA ($6.74), which could act as strong support.

The pair has rebounded from the 20-EMA, indicating that sentiment remains positive and traders are seeing the dips as a buying opportunity. If buyers keep the price above the key barrier at $8.57, the pair could accelerate to $9.

As the rising moving averages support the bulls, the RSI is showing signs of a negative divergence. This indicates that the momentum may be weakening. To signal the beginning of a correction for the 50-SMA, the sellers must sink below the 20-EMA and hold the price.

Graph value analysis

Graph (GRT) broke above the overhead resistance above $0.23 on February 18, indicating a resumption of the uptrend.

The bears are trying to stop the move above around $0.30, but the positive sign is that the bulls are not letting the price drop below $0.23. This indicates dips are being bought.

If the price stays above $0.30, the GRT/USDT pair may rise to $0.37. The risk of upward movement is from an overbought level on the RSI, which indicates that it may be corrected or strengthened in the near future. If the price slips below the 20-day EMA ($0.22), the trend is bearish.

The 4-hour chart shows that the pair is taking support at the 20-EMA dips. Although this is a positive sign, the RSI has formed a negative divergence, which indicates that the positive momentum is weakening. If the price continues lower and breaks below the 20-EMA, selling may be triggered, and the pair may drop to $0.23.

Conversely, if the price rises from the current level or from the 20-EMA, it indicates that the uptrend remains intact. The bulls will try to overcome the barrier at $0.30 and start the next leg of the rally.

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.