In a recent CNBC poll of a group of portfolio managers and equity strategists, only 6% of respondents expect Bitcoin (BTC) to reach $60.000 in 2021. A large portion, 44% of respondents, predict that Bitcoin will remain under $30.000 this year. Of the remainder, 25% expect the recovery to reach $45.000 and the remaining 25% predict a move to $55.000.
This suggests that the feeling remains negative. However, recent Chinese crackdowns on crypto miners or regulatory actions have failed to trigger the next stage of Bitcoin's downtrend. This indicates that smart money isn't panicking, but fishing at the bottom of the well.
Analyst Willy Woo recently said in an interview on What Bitcoin Did podcast that long-term holders who sold their Bitcoin earlier this year are slowly piling up to lower levels. Woo added that network data suggests Bitcoin is in recovery.
According to sources at The Street media, billionaire Steven Cohen's hedge fund Point72 Asset Management is looking for a “chief of cryptography” to break into the cryptography industry. This suggests that institutional investors are viewing the current decline as an entry opportunity.
With crypto markets in a state of recovery, let's study the charts of the top five cryptocurrencies that stand a good chance of leading the relief rally.
In this article, we will discuss:
BTC / USDT
Bitcoin has been consolidating in the $31.000 to $42.451,67 range in the past few days. After bears failed to sustain the price below the range support on June 22nd and June 26th, bulls are currently attempting a rebound.

Bulls pushed the price above the 20-day exponential moving average ($34.993) and will now try to lift the price above the 50-day simple moving average ($36.597). Positive divergence in Relative Strength Index indicates that bullish momentum may be increasing.
If buyers push the price above the 50-day SMA, the BTC/USDT pair could rise to the resistance zone at $41.330 to $42.451,67. Bears will likely defend this zone aggressively. If the price drops from this resistance, the pair may extend its limited action for a few more days.
Contrary to this assumption, if the price drops from the 50-day SMA and breaks below $32.700, the bears will try again to sink the pair below $31.000. If they are successful, the next stop could be the $28.000 critical support.

The 4-hour chart shows the formation of an ascending triangle pattern that will complete in a breakout and close above $36.670. If the bulls manage to do that, the pair could move up to $41.000 and then to the default target of $44.535.
Conversely, if the price falls from the current level or $36.670, the bears will try to sink the pair below the triangle trendline. If that happens, the bullish setting will be nullified and this could result in a drop to $32.700 and then to $31.000.
ETH/USDT
Ether (ETH) broke above the 20-day EMA ($2,193) on June 30, but the bulls failed to sustain the higher levels. The bears pulled the price below the 20-day EMA on July 1st and tried to trap the aggressive bulls.

However, the strong rebound of $2.018,50 on July 2nd suggests sentiment has turned positive and traders are piling on declines. Bulls pushed the price back above the 20-day EMA on July 3rd.
The 20-day EMA has stabilized and the RSI is trying to rise above 52, indicating that momentum is turning positive. The ETH/USDT pair may rally towards the downtrend line, where bears may try to halt the upward movement.
But if momentum continues and bulls push the price above the downtrend line, the pair could rise to $2.990,05. This positive view will be invalidated if the pair exits the 50-day SMA ($2.437) and breaks the $2.000 support.

The 4-hour chart shows a reverse head and shoulders pattern that completed in a breakout and closed above $2.280. This optimistic configuration aims to reach $2.860. The rising moving averages and the RSI near the overbought zone suggest that buyers are in control.
Contrary to this assumption, if the pair drops below $2.280, it would suggest that bears haven't given up yet and are trying to trap aggressive bulls. A break below $2.000 could shift the advantage back in favor of the bears. The pair could then retest critical support at $1.728,74.
UNI/USDT
O Uniswap (UNI) rebounded from $13 on June 22 and rose above the 20-day EMA ($19,50) for the first time since June 4, which is a positive sign. The 20-day EMA stabilized and the RSI rose to the midpoint, indicating that sellers are losing control.

The UNI/USDT pair may now rally towards the 50-day SMA ($22,99), where bears are again likely to mount stiff resistance. However, if bulls can halt the next dip in the 20-day EMA, it would suggest a shift in sentiment from selling higher to buying lower.
This will increase the prospects for a break above the 50-day SMA. If that happens, the pair could start its journey into air resistance at $30. Conversely, if the price drops and breaks below $16,93, the bears could pull the pair back to $13.

The moving averages have completed a bullish cross and the RSI is close to overbought territory, implying that bulls have the short-term advantage. If buyers raise the price above general resistance at $21, the pair could gain momentum and rise to $25 and then to $27.
On the other hand, if the price drops below 20-EMA, the next big support to watch on the downside is $17. A break below will suggest that traders continue to sell at higher levels. The pair could then drop to $15.
ICP/USDT
After a massive drop from $497,19 to $28,31, Internet Computer (ICP) is trying to build a fund. The 20-day EMA ($53) is stabilizing and the RSI is trying to recover from deeply oversold levels, indicating that selling pressure is easing.

If bulls push the price above $60, the ICP/USDT pair will complete a 1-2-3 lower formation. The pair could then rise to $72,61. Thereafter, if bulls arrest the next dip above the 20-day EMA, it will suggest that a new uptrend has started.
Contrary to this assumption, if the price falls from the current level and falls below $41,44, the bears will try to sink the pair to an all-time low of $28,31. A break below this support could extend the downtrend.

The moving averages have completed a bullish cross and the RSI is in the positive territory on the 4-hour chart, suggesting that bulls are back in the game. However, bears are unlikely to give up easily and are defending $52.
If the price drops from its current level but rebounds from moving averages, it will suggest accumulating at lower levels. Bulls will try again to push the price above $52 and then $60.
If successful, the pair may start a new uptrend. Contrary to this assumption, if the price drops below $40, the pair could retest the all-time low.
AAVE/USDT
The Aave broke above the downtrend line on the 29th of June, indicating that the negative momentum was fading. The bears tried to stall the recovery at the 20-day EMA ($252) but failed to sink the price below the downtrend line. This suggests buying at lower levels.

Bulls pushed the price above the 20-day EMA on July 3rd, indicating a possible shift in the trend. Bears may try to turn previous $280 support into resistance, but if bulls don't allow the price to fall below $215,62, the possibility of a break above the overload resistance is high.
This will open the door for a rally to the 50-day SMA ($321) and then $400. The 20-day EMA flattening and the RSI near the midpoint signal that bulls are trying to make a rally. This positive view will be invalidated if the AAVE/USDT pair falls from its current level and falls below $215,62. This could result in a retest of the June 22 low of $170,10.

The 4-hour chart shows a rounded bottom formation that will complete in a breakout and close above the overhead resistance at $280. This reversal setup has a target of $389,90, but it may not be an easy ride higher. , as the bears will try to stagnate the rally at $340.
Both moving averages have appeared and the RSI is in positive territory, indicating an advantage for bulls. If the price drops from its current level but rebounds from moving averages, it would suggest that sentiment has turned positive and buyers are piling up on declines. That assumption will be invalidated on a break and will close below $215,62.