Several economies effectually the globe are lifting lockdown restrictions that have been in place for the by few weeks. This will enable businesses to gradually get back on rail and investors are also closely watching the various coronavirus vaccines that are in developmental stages. Whatsoever positive news on this forepart is probable to boost sentiment.

As the globe is affluent with liquidity, any improvement in sentiment could drive traders into risky assets in order to generate strong returns to make up for this year'southward losses. Bitcoin (BTC) has done exceedingly well during the crisis, which is likely to attract the attention of institutional players.

Even if a fraction of the massive liquidity in the system flows into cryptocurrencies, it is likely to result in a new bull run in the crypto sector.

Daily cryptocurrency market performance. Source: Coin360

Daily cryptocurrency market place performance. Source: Coin360

On the other manus, if the vaccine trials prove unsuccessful and the earth is hit past a second wave of coronavirus, the United States Federal Reserve is likely to keep printing money. In a recent interview, the Federal Reserve Chairman Jerome Powell said that the Fed could expand its lending programs for "as long as we need to."

If this happens, investors will look for new opportunities to safeguard their purchasing power and generate yields. This is too likely to benefit Bitcoin, the top-ranked cryptocurrency on CoinMarketCap. Under both circumstances, the cryptocurrency is likely to be the beneficiary.

Robert Kiyosaki, author of the book Rich Dad, Poor Dad has reiterated his bullish view on gold, silver and BTC. For Bitcoin, he has a target objective of $75,000 in three years.

BTC/USD

Bitcoin (BTC) is in an uptrend. Hence, the sentiment is to buy the dips and the breakouts. However, the bulls are finding it difficult to break in a higher place the psychological resistance at $10,000.

BTC–USD daily chart. Source: Tradingview

BTC–USD daily nautical chart. Source: Tradingview

Twice, the price has reversed direction from the $10,000 levels. If the bears again succeed in defending this level, and then a drop to the 20-solar day exponential moving average ($9,025) is possible.

With both moving averages sloping up and the relative force index above lx levels, the bulls accept the upper hand. Therefore, a rebound off the 20-day EMA tin offer a ownership opportunity to the traders.

If the bulls propel the BTC/USD pair above $10,000, a rally to the resistance line of the symmetrical triangle close to $10,600 is possible. Higher up this level, the momentum is likely to selection up and a sustained uptrend is likely.

The first sign of weakness will be a drib below the twenty-twenty-four hour period EMA and the bears will proceeds strength if they can sink the pair beneath the uptrend line.

ETH/USD

Ether (ETH) bankrupt above the downtrend line on May 17, which presented a ownership opportunity to the traders as suggested in the previous assay. Currently, the bears are defending the midpoint of the ascending aqueduct.

ETH–USD daily chart. Source: Tradingview​​​​​​​

ETH–USD daily chart. Source: Tradingview

If the bulls tin drive the second-ranked cryptocurrency on CoinMarketCap above $220, a motion to $227.097 and and then to the resistance line of the channel at $245 is possible. A breakout of the channel will be a huge positive, as information technology tin result in a rally to $288.599.

Conversely, if the ETH/USD pair turns down from the electric current levels and breaks beneath the support line of the channel, a drop to $176.103 is likely. Below this level, the trend is likely to favor the bears.

XRP/USD

XRP has been struggling to climb to a higher place the $0.20570 resistance for the past few days. This suggests that the bears are defending this level aggressively. Today, though the price rose to an intraday high of $0.208, the bulls have not been able to sustain the higher levels.

XRP–USD daily chart. Source: Tradingview​​​​​​​

XRP–USD daily chart. Source: Tradingview

This suggests that the bulls are likely to observe it difficult to break above the zone betwixt $0.20570 and the downtrend line.

If the 3rd-ranked cryptocurrency on CoinMarketCap turns down from the current levels, it can drop to the fifty-day simple moving boilerplate ($0.197) and if this level also cracks, a retest of $0.17372 will be on the cards.

Yet, if the bulls can push the XRP/USD pair above the downtrend line, a rally to $0.23612 is possible. A breakout of this level volition be a huge positive and can issue in a move to the long-term downtrend line close to $0.27.

BCH/USD

Bitcoin Cash (BCH) has roughly been trading inside a tight range of $230–$250 for the past few days. This suggests that both the bulls and the bears are not placing any large directional bets.

BCH–USD daily chart. Source: Tradingview​​​​​​​

BCH–USD daily chart. Source: Tradingview

A break in a higher place $250 will suggest a modest advantage to the bulls. Above this level, a rally to $280.47 is possible. The 5th-ranked cryptocurrency on CoinMarketCap has turned downwardly from this level thrice earlier, hence, the bears volition again mount a strong defense force at $280.47.

Alternatively, if the BCH/USD pair turns down from the current levels and plunges below $230, a drop to $200 is likely. As this level has held on three previous occasions, it can offer a buying opportunity.

BSV/USD

Bitcoin SV (BSV) continues to merchandise inside the $170–$227 range. Although the bulls have pushed the toll above the twenty-day EMA ($195), they accept not been able to scale the downtrend line.

BSV–USD daily chart. Source: Tradingview​​​​​​​

BSV–USD daily chart. Source: Tradingview

This suggests that the bears are aggressively defending the downtrend line. Even if the bulls push the 6th-ranked cryptocurrency on CoinMarketCap above the downtrend line, they are once again likely to face strong resistance at $227. The momentum is likely to pick upwards if the price sustains above $227.

If the BSV/USD pair turns down from the current levels, a drop to $170 is possible. The trend will turn in favor of the bears on a pause below $170. Trading inside the range will go along to exist volatile and difficult to predict.

LTC/USD

Litecoin (LTC) has climbed above the 20-twenty-four hours EMA ($44.3) only is facing resistance at the downtrend line. The flat moving averages and the RSI shut to fifty levels suggests a residual between bulls and bears.

LTC–USD daily chart. Source: Tradingview​​​​​​​

LTC–USD daily chart. Source: Tradingview

If the seventh-ranked cryptocurrency on CoinMarketCap can climb in a higher place the downtrend line, a move to $50.7864 is possible. The bears are likely to defend this level aggressively. If the cost turns down from this resistance, the range-spring activity is probable to continue for a few more days.

Conversely, if the bulls can drive the LTC/USD pair above $52.2803, a new uptrend is probable. The first target objective is $64.

All the same, if the price turns down from the current levels, the bears volition attempt to sink the pair to $39.

BNB/USD

Binance Coin (BNB) has gradually moved up to the downtrend line where it is facing resistance. This suggests a lack of urgency amidst the bulls to purchase at these levels as they are not confident of the rally continuing.

BNB–USD daily chart. Source: Tradingview​​​​​​​

BNB–USD daily nautical chart. Source: Tradingview

The eigth-ranked crypto-asset on CoinMarketCap is currently range-bound between $xviii.1377–$13.65.

Above the downtrend line, a retest of $18.1377 is possible. On the other paw, if the BNB/USD pair turns downwardly from the current levels, a drop to the 50-day SMA ($15.v) is likely.

EOS/USD

Although EOS broke to a higher place the downtrend line, it is struggling to pick upwardly momentum. This suggests a lack of demand at higher levels. Both moving averages are flat and the RSI is close to the midpoint, which suggests a residual between demand and supply.

EOS–USD daily chart. Source: Tradingview​​​​​​​

EOS–USD daily nautical chart. Source: Tradingview

If the ninth-ranked cryptocurrency on CoinMarketCap turns downwardly from the electric current levels or the overhead resistance of $2.8319 and plummets below the critical support at $2.3314, the bearish head and shoulders pattern volition complete.

This setup has a target objective of $1.5524, which will tilt the advantage in favor of the bears. All the same, unless the EOS/USD pair breaks below $2.3314, the H&Southward pattern will not complete. Therefore, traders should non jump the gun and become negative.

If the bulls tin push the toll above $two.

8319, a move to the $three.1104–$3.1802 resistance zone is possible. A breakout of this zone will invalidate the bearish setup, which will be a huge positive.

XTZ/USD

Although the bears broke below the support line of the ascending aqueduct on May 15, they could not sustain the breakup. This suggests demand at lower levels. On May 16, Tezos (XTZ) rallied above the xx-day EMA, which was a adept ownership opportunity as suggested in the previous analysis.

XTZ–USD daily chart. Source: Tradingview​​​​​​​

XTZ–USD daily chart. Source: Tradingview

The first target objective is a move to the downtrend line where the bears might once again mount a stiff resistance. Traders tin book partial profits if the bulls struggle to push the price higher up the downtrend line.

However, if the bulls tin drive the 10th-ranked cryptocurrency on CoinMarketCap above the downtrend line, a rally to the $3.07369–$3.2712 resistance zone is possible.

This bullish view will be invalidated if the XTZ/USD pair turns down and breaks below the aqueduct. The trend is likely to turn negative on a pause below $2.24.

XLM/USD

Stellar Lumens (XLM) broke in a higher place the downtrend line on May 17 but could not sustain the college levels. Today, the bulls are again attempting to sustain the price above the downtrend line. If successful, a rally to $0.076994 is possible.

XLM–USD daily chart. Source: Tradingview​​​​​​​

XLM–USD daily chart. Source: Tradingview

Conversely, if the bulls fail to sustain the 11th-ranked cryptocurrency on CoinMarketCap above the downtrend line, the bears will attempt to sink the toll beneath the twenty-mean solar day EMA ($0.0675).

If successful, a drop to the uptrend line is likely. This is an of import support because if information technology cracks a retest of $0.060 will be on the cards.

The views and opinions expressed hither are solely those of the author and do not necessarily reverberate the views of Cointelegraph. Every investment and trading motility involves risk. You should conduct your own research when making a decision.

Market information is provided by HitBTC exchange.