Bitcoin and altcoins got the green light for the new week!

Although Bitcoin completed the past week with a decline, the price's recovery from the week's low of $61,000 gave hope for the continuation of the bull market.

Buying action during declines revealed that investors expect rises in the future. CryptoQuant CEO Ki Young Ju expects inflows to spot Bitcoin exchange traded funds (ETF) to increase if Bitcoin approaches support levels. Young Ju said the cost of new whales buying Bitcoin ETFs was $56,000. The CEO predicts that purchases will increase if the price of Bitcoin reaches 56 thousand dollars.

Another positive sign that could support Bitcoin's price is that outflows from the Grayscale Bitcoin Trust (GBTC) are slowing down. Outflows from GBTC fell to just $170 million on March 22, according to data from Fairside Investors. This shows that selling pressure may be decreasing. If Bitcoin finishes March above $61,130, it would be the first bullish streak in seven months. Could Bitcoin's recovery trigger buying in certain altcoins? Let's look at the top 5 cryptocurrencies that look strong on the charts.

Bitcoin (BTC) analizi

Bitcoin has been trading around the 20-day moving average ($65,364) for the past few days. This development indicates a battle for supremacy between bulls and bears. The 20-day EMA is gradually advancing and the relative strength index (RSI) is near the midpoint, indicating a balance between supply and demand. The BTC/USDT pair could fluctuate between $60,775 and $69,000 in the near term.

If the price stays below the 20-day EMA, the support zone between the 50-day simple moving average ($58,438) and $60,775 could come under pressure. If this zone is broken, the decline could deepen towards $54.298. On the upside, a break and close above $69,000 could open the doors for a retest of $73,777. If this resistance scales, BTC could rise to $80,000.

Dogecoin (DOGE) analysis

Dogecoin (DOGE) has been fluctuating between $0.12 and $0.19 for the last few days. The bulls broke the $0.16 barrier on March 24, opening the doors for a rise to 0.19.

The 20-day EMA ($0.15) has started to rise and the RSI is in the positive zone, indicating that the bulls are attempting a comeback. A breakout and a close above $0.19 could lead to the start of the journey towards $0.23 and then $0.30.

If the price declines sharply from $0.19, more attention will need to be paid to the bears. DOGE may decline towards the solid support at $0.12. The bears will need to sink the price below the 50-day SMA ($0.12) to show that the uptrend may end.

The 4-hour chart shows bulls buying dips up to the 20-EMA, indicating positive sentiment. Buyers will try to move the price towards the $0.19 resistance, where the bears can mount a strong defense again. If the bulls fail to cede ground to the bears at $0.19, the chances of a rally above $0.20 increase. The first sign of weakness will be a breakout and close below the 20-EMA. This could open the doors for a drop to $0.1.

Toncoin (TON) analysis

Toncoin (TON) broke above the $4.60 resistance on March 23, indicating the start of the next leg of the uptrend.

Rising moving averages and the RSI in the overbought zone indicate that buyers are in control. It is observed that there was a sale at par on 23 and 24 March. However, if the bulls manage to hold the current level, TON could extend the rally to $5.64.

If the bears want to stem the rise, they will need to push the price below $4.60 and sustain it. This could encourage short-term traders to book profits, pushing the pair towards the 20-day EMA ($3.79).

The 4-hour chart shows that the bears aggressively defended the $5 resistance but failed to sink the pair below the 20-EMA. This is a positive sign because traders may be adding to their positions as they anticipate another rise.

The first support on the downside is the 20-EMA. A break below this support will indicate that short-term traders may be booking profits. This could push the price towards the 50-SMA and then towards $3.50.

Stacks (STX) analizi

The bulls pushed Stacks above the $3.40 resistance on March 20, indicating that the uptrend remains intact.

Both moving averages are upward sloping and the RSI is close to the overbought zone, indicating that the bulls have an advantage. If buyers hold the price above $3.40, the uptrend will gain momentum and the STX/USDT pair could rise as high as $4.29.

Contrary to this assumption, if the price turns down and breaks below $3.40, it would indicate that the markets are rejecting higher levels. The pair could decline as low as the 20-day EMA ($3.07). A bounce from this level would indicate that the uptrend remains intact, but a break below the 20-day EMA could sink the pair to the 50-day SMA ($2.65).

The 4-hour chart shows bulls buying dips up to the 20-EMA, indicating that sentiment remains positive. A minor resistance lies at $3.75, but if this level is breached, the pair could reach $4.

The important support to watch on the downside is the 20-EMA. If this level gives way, it will indicate that the bulls are rushing for the exit. The pair could then drop to $3.22. A break below this support could accelerate selling and sink the pair below the 50-SMA.

Fantom (FTM) analysis

It appears that Fantom made a significant profit on March 22. The selling accelerated on March 23 and the bears are trying to push the price below $1.02.

If they succeed, the FTM/USDT pair could drop as low as the 20-day EMA ($0.89). This remains the key short-term level to watch out for. If the price rebounds strongly from the 20-day EMA, it will indicate that lower levels continue to attract buyers. The pair may then retest the 1.23 level. A break above this could pave the way for a rise to $1.50 and eventually $2.

This optimistic view will be negatively impacted in the near term if the price drops sharply and breaks below the 20-day EMA. This could push the price towards the next important support at $0.72.

The bears pulled the price below the 20-EMA on the 4-hour chart, but it is a positive sign that the bulls did not allow the 50-SMA to be challenged. Buyers are trying to push the price back above the 20-EMA. If they manage to do this, the pair could rise to $1.12 and then to $1.16.

Alternatively, if the price turns down from overhead resistance and breaks below the 50-SMA, it will indicate that the bears are aggressively selling higher. The pair could then start a downside move towards $0.80.