Bitcoin and Ethereum's market structure is looking incredibly bullish, but will traders be able to sustain the current momentum?
The rising 20-day EMA and the RSI near the overbought zone indicate advantage to buyers. The SOL/USDT pair could rise to $27.12 where the bears may mount a strong defense. If bulls overcome this barrier, the pair may resume its climb toward $39.
On the downside, the downtrend line is the key level to watch out for. The bears will have to sink and sustain the price below the downtrend line to trap the aggressive bulls. The pair may then collapse to $15.28.The long tail on the April 12 candlestick shows that the bulls purchased the dip to the 20-day EMA . Polkadot continued its northward march and broke above the downtrend line on April 13 but the bulls are facing selling at higher levels.The DOT/USDT pair turned down from the 61.
Contrarily, if the price turns up and closes above $6.85, it may propel the price to the neckline of the inverse H&S pattern. If bulls pierce this overhead resistance, the pair may start a new uptrend.
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