Bitcoin (BTC) has finally pushed above the $17,000 mark after rallying to $17,375 on Jan. 12. with both the bulls and the bears considering the Consumer Price Index (CPI) due on Jan. 12. If the print reveals that inflation is cooling off, threat assets may rally, however a negative surprise could attract strong selling.While some believe that a macro bottom might be forming in Bitcoin, others remain doubtful. They draw a parallel between the current bearish market and the dot-com bubble burst. The United States Federal Reserve stopped raising rates in May 2000 but the Nasdaq did not bad for two more years. If the very same circumstance plays out with cryptocurrencies, then the next bull run might not begin in a hurry. Crypto market information everyday view. Source: Coin360 However, one favorable for the future of the

crypto industry is that legacy financing business continue to show interest in the space. Laser

Digital co-founder and CEO Jez Mohideen believes that the arrival of standard companies could help control the cryptocurrency sector.Do the charts indicate a rally in Bitcoin? What are the other altcoins that are showing a positive chart structure? Let’s find out.BTC/ USDT Bitcoin has actually been trading above the moving averages since Jan. 4. This is the very first sign that the selling pressure could be decreasing. The price reached the overhead resistance at$17,061 on Jan. 6 however the bulls might not rise this level. This shows that the bears have actually not given up yet. BTC/USDT day-to-day chart.

Source: TradingView A small positive in favor of the bulls is that they have not allowed the BTC/USDT set to topple below the moving averages. If the rate consolidates in between the moving averages and $17,061 for some time, the prospects of a break above the overhead resistance might improve. If bulls kick the cost above$17,061, the5 cryptocurrencies that could benefit from a positive CPI report
pair could rise toward $18,388. Alternatively, if the price rejects and drops below the moving averages, it will suggest that the set might remain stuck between$17,061 and $16,256 for a few more days. BTC/USDT 4-hour chart. Source: TradingView The 4-hour chart reveals that bears are safeguarding the

$17,061 level however they have actually not been successful in pulling the rate below the 20-exponential moving average. This suggests that buyers are not rushing to the exit as they anticipate a break above the overhead resistance.The slowly upsloping 20-EMA and the relative strength index(RSI)in the favorable territory indicate that buyers have a small edge. A break above$17,061 could indicate the start of a brand-new up-move in thenear term.If bears want to regain control, they will need to sink the price below the 50-simple moving average. The set could then decrease to $16,600 and remain inside the variety for a while longer.SOL/ USDT Solana( SOL)has been a substantial underperformer in the past numerous months however the price action of the past couple of days increases the likelihood of a possible relief rally.

It is prematurely to anticipate whether the expected relocation is a dead feline bounce or the start of a continual healing. However, the setup might be of interest to short-term traders. SOL/USDT everyday chart. Source: TradingView The SOL/USDT set has actually rallied greatly from the Dec. 29 low of $8.

Purchasers propelled the cost above the 50-day SMA($12.75)on Jan. 3 and have actually managed to sustain the

set above this level since then. This suggests that the bulls are trying to turn the moving averages into support.If the rate breaks above the overhead resistance at$15, the set might accelerate toward$ 19. This level may once again serve as a barrier but if crossed, the rally might encompass the 50%Fibonacci retracement level of $23.40. The bulls may lose their grip if the rate refuses and moves listed below the moving averages. Such a relocation will indicate that bears are active at higher levels. SOL/USDT 4-hour chart. Source: TradingView The 4-hour chart reveals that the price pulled back to the 20-EMA however the bulls bought this dip. This suggests a modification in belief from offering on rallies to buying on dips. The bulls will try to extend the up-move by driving the rate above

the $14.24 to$15 resistance zone.On the other hand, the bears will try to pull the rate listed below the 20-EMA. If they can pull it off, the pair might drop to the 50-SMA. This level might behave as an assistance but if bears sink the cost listed below it, the decrease might reach$11. XMR/USDT Monero(XMR )broke out of the falling wedge pattern on Jan. 5 and purchasers have actually handled to sustain the cost above the breakout level for three days. This indicates a possible pattern modification. XMR/USDT day-to-day chart. Source: TradingView The moving averages have actually turned up and the RSI is in the positive territory, indicating that buyers have the upper hand. There is a minor resistance at$162 and then once again at$167 but both these levels are likely to be crossed. The XMR/USDT pair could afterwards reach the overhead resistance at $174.

This level may function as a significant obstacle but if bulls manage to overcome it, the pair might skyrocket to$200. Contrary to this presumption, if the rate refuses and plummets listed below the moving averages, it will suggest that the breakout from the

wedge might

have actually beena bull trap. The downward momentum might detect a break listed below$138. Cast your vote now! XMR/USDT 4-hour chart. Source:

TradingView The 4-hour chart shows that the bears are trying to form a short-term double-top pattern near $160. Sellers have pulled the cost below the 20-EMA, which opens the doors for a possible drop to the 50-SMA

. The bulls may fiercely protect the moving averages due to the fact that a break listed below it could tilt the benefit in favor of the bears.If the price turns up from the present level, it will recommend that lower levels are drawing in buyers. The set might then when again rise to the overhead resistance at $160. If this resistance is scaled, the up-move could resume.Related: Digital Currency Group under investigation by U.S. authorities: Report LDO/USDT Lido DAO(LDO )broke out of

5 cryptocurrencies that could benefit from a positive CPI report
the drop line on Jan. 1
5 cryptocurrencies that could benefit from a positive CPI report
and made a sharp move higher. This recommends

the downtrend might have ended. LDO/USDT daily chart. Source: TradingView The moving averages have actually finished a bullish crossover, showing that buyers have the upper hand but the overbought levels on the RSI point to a short-term correction or consolidation.If purchasers do not quit much ground from the present level, the LDO/USDT pair could reach the overhead resistance at $1.85. This level may once again serve as a strong barrier however if bulls conquer it

, the pair might reach$2.30. The very first indication of weakness will be a break below the 20-day EMA(

$1.21). Such a relocation will suggest that bears are selling on rallies. LDO/USDT 4-hour chart. Source: TradingView The 4-hour chart shows that the pair has actually started an uptrend. The upsloping moving averages and the RSI in the overbought zone suggest that

bulls stay in control. There is a minor resistance at$1.71 but if that is crossed, the rally could reach$ 1.85. The 20-EMA has served as a strong support throughout pullbacks, thus this stays an important level to watch on in the near term. If this assistance cracks, the set might move to the 50-SMA. AAVE/USDT Buyers effectively defended the psychological support near$ 50 and are trying to form a double bottom pattern.

This is the factor for picking Aave (AAVE ). AAVE/USDT everyday chart. Source: TradingView The bounce off the strong assistance at$50 has reached the 50-day SMA(

$58). Both moving averages have actually flattened out and the RSI has actually delved into the positive territory, indicating advantage to buyers.If bulls thrust the cost above the 50-day SMA, the AAVE/USDT pair could rally to the downtrend line and afterwards to $67. A break and close above this level will complete a double bottom which has a pattern target of$ 84. This bullish view will be

revoked if the rate declines and plummets listed below the crucial support at$ 50. AAVE/USDT 4-hour chart. Source: TradingView The bulls are trying to press and sustain the price above the immediate overhead resistance near $58. If they handle to do that,the set could rally to the5 cryptocurrencies that could benefit from a positive CPI report

downtrend line. This level might serve as a strong

difficulty however en route down, if bulls turn the$58 level into assistance, it might increase the likelihood of a break above the drop line.The first support to view on the drawback is the 20-EMA

. If this level gives way, the set could move to $54. This is an important level for the bulls to protect if they want to keep the short-term momentum in their favor.The views, thoughts and viewpoints expressed here are the authors’alone and do not necessarily show or represent the views and viewpoints of Pandoraland. This article does not contain investment suggestions or suggestions. Every5 cryptocurrencies that could benefit from a positive CPI report

investment and trading relocation involves risk, and readers must conduct their own research study when making a decision.