Bitcoin (BTC) is struggling to sustain any price level during the current pullback, indicating a lack of demand at higher levels. Does this mean the uptrend is over and institutional investors are abandoning crypto markets?
No! It’s the opposite. Glassnode’s weekly newsletter pointed out that the Grayscale Bitcoin Trust (GBTC) premium is rising, suggesting that institutional investors are accumulating at lower levels.
The GBTC is not alone, another popular vehicle for institutional investors, the Canadian Purpose Bitcoin exchange-traded fund has also witnessed strong capital inflows. According to Glassnode analysts, this shows "the first signs of renewed institutional interest."

Another metric that could be signaling a possible bottom in Bitcoin is its dominance graph, which looks like the beginning of 2017. If Bitcoin's dominance follows a similar trajectory to 2017, this will indicate that Bitcoin is still some distance away from its peak and altcoin season still has room to run.
Now that the monthly options and futures maturity have passed, investors are probably wondering if Bitcoin could start a strong recovery next week and which altcoins will recover if that happens.
Let's look at 5 cryptocurrencies that could initiate trending moves this week.
In this article, we will discuss:
BTC / USDT
Bitcoin's brief breakout failed to break the 200-day simple moving average ($41.014) barrier on May 26 and May 27, indicating that bears are aggressively defending that level. The 20-day descending exponential moving average ($41.327) and the Relative Strength Index (RSI) near the oversold zone suggest that bears are in control.

If the BTC/USDT pair breaks the $33.000 support, the next stop could be the $30.000 to $28.000 support zone. If this zone also gives way, the pair could witness a panic selling and a drop to $20.000 is possible.
The longer the price remains below the 200-day SMA, the more difficult it will become for bulls to start the next leg of the bullish trend.
However, if the price rises from the current level and rises above the 200-day SMA, it will suggest a strong buy at lower levels. This could pave the way for a possible rise to the 61,8% Fibonacci retracement level at $ 48.231.

The 4-hour chart shows the formation of a symmetrical triangle, which generally acts as a continuation pattern. If bears sink the price below the triangle, the pair could drop to $30.000 and then to the default target of $20.316.
On the other hand, the configuration can act as a reversal pattern if bulls push and hold the price above the triangle's resistance line. Such a move will suggest that the bearish trend is over and that the pair could move up to the target target at $ 51.951.
MATIC/USDT
Polygon (MATIC) rebounded from today's 20-day EMA ($1,58) indicating that bulls are buying lower for this support. The rising 20-day EMA and the RSI in the positive territory indicate that the path of least resistance is upward.

However, the MATIC / USDT pair formed a symmetrical triangular pattern, indicating indecision between bulls and bears. If the bulls push the price above the triangle's resistance line, the pair could rise to $ 2,70 and then start their journey to the standard target at $ 4,20.
Contrary to this assumption, if the price falls from the triangle's resistance line, the pair could extend its stay within the triangle. A break and close below the triangle will signal weakness and could result in a drop to $0,80.

The 4-hour chart shows the rebound from relief is facing resistance at the downtrendline. If the bears sink the price below the $ 1,51 support, the pair will complete a bearish head and shoulders pattern that could result in a fall to $ 0,68.
On the other hand, if buyers push the price above the downtrend line, bullish momentum could increase and the pair could challenge $2,43 resistance. A break above that level could result in a rally to $2,70.
EOS/USDT
EOS attempted a recovery, which failed at the 38,2% Fibonacci retracement level at $ 7,89 on May 27. However, the positive sign is that bulls have not allowed the price to fall below the $5,60 support. This indicates that traders are not waiting for a deeper drop to buy.

If bulls manage to push and close the price above the 20-day EMA ($6,95), it would suggest that supply exceeds demand. This could open the door for a rally to the 50% retracement level at $9,23 and then to the 61,8% retracement level at $10,57.
That bullish view will be invalidated if the bears stop on the next attempt to pull back on the 20-day EMA or $7,89. Such a move will increase the possibility of a break below $5,60. If that happens, the EOS/USDT pair could drop to the 200-day SMA ($4,52) and then to $3,57.

The 4-hour chart shows that bulls are defending the $5,60 support, indicating that selling pressure has eased. The stable 20-EMA and the RSI just below the midpoint suggest a balance between supply and demand.
If bulls push the price above $6,81, the pair could rise to the 200-SMA and then to $8,69. A break and close above that resistance will signal the bulls are back in the game. Alternatively, if bears sink the price below the $5,60 to $5 support zone, the pair could drop to $3,57.
XMR/USDT
The bears' repeated attempts to sink Monero (XMR) below the 200-day SMA ($ 222) have failed in the past few days. This suggests that bulls are piling up at current levels.

Buyers tried to push the price above the 20-day EMA ($294) on May 29, but the long fuse in the candlestick shows strong selling at higher levels. However, it is likely that bulls will again try to break the barrier in the 20-day EMA.
If they succeed, the XMR/USDT pair could initiate a rally of relief that could reach the 61,8% Fibonacci retracement level at $368,45. This level can act as strong resistance because traders who bought at higher levels can close their positions.
This positive view will be nullified if the price falls and falls below the 200-day SMA. In that case, the pair could drop to $175 and then to $124,69.

The 4-hour chart shows a symmetrical triangle formation, indicating indecision between the bulls and bears about the next directional move. The flattish 20-EMA and the RSI near the midpoint also suggest a balance between supply and demand.
This advantage will tend in favor of bulls if they can push and sustain the price above the triangle. The price could rise to the 200-SMA, which could act as a strong resistance.
Conversely, if the price falls and breaks below the triangle, the pair could drop to $175 and then to $124,69.
AAVE/USDT
AAVE is trying to rebound from strong support at $280. This level has not broken since Jan 26, so bulls will likely defend aggressively. The 200-day SMA ($290) just above the level is an added bonus.

However, the fall of the 20-day EMA ($398) and the RSI below 43 suggest that the short-term bias favors the bears. Sellers will try to prevent any recovery from 20-day EMA relief. If successful, the AAVE / USDT pair may correct again to $ 280.
A break and a close below this support could initiate a downtrend and the decline could extend to $160. On the other hand, if bulls raise the price above the 20-day EMA, the pair could rise to $489, which will likely act as a strong resistance.

The 4-hour chart shows that bulls have bought the fall to $280. The 20-EMA is flattening out, indicating that selling pressure is easing. If buyers push and hold the price above the downtrend line, the pair could rise to $418. A break and close above this resistance could result in a rally to $480.
This positive view will be invalidated if the price falls from the 20-EMA or the downtrend line and falls below $ 280. If that happens, the bears will try to pull the price below the May 23 low by $ 208,09 and start the downtrend.