Analysts were quick to point out that while this week's dramatic breakout is a good indication, a long-term recovery hinges on Wall Street's performance. Will bears catch the bulls and drive the price lower, or will Bitcoin and other major cryptocurrencies are able to continue rising? To find out, let's examine the top-10 cryptocurrency charts in this article from <a href="http://builder.news" alt="Builder.news" title="Builder.news" target="_blank" rel="" class="">Builder.news</a>.&nbsp;<h2>BTC/USDT</h2>On July 20, Bitcoin crossed above the 50-day SMA ($22,966) and the overhead resistance at $23,363. This suggests a possible shift in the trend. However, there’s a slight bear down to $23,163 on indicating that the recent breakout may have been a bull trap.The positive trend could intensify if buyers keep the price over $23,363 and the BTC/USDT pair could rise to the pattern target of $28,171. Short-term traders may gain profits at this level. The bears will need to drive the stock below the 20-day EMA in order to disprove this optimistic outlook.<img src="https://cdn.builder.news/news/11ed09a81ce72112a8e6023f659fee92.jpg" alt="BTC chart" title="BTC chart (Source: Tradingview.com)" width="600" height="338" class="lykafe0"><h2>ETH/USDT</h2>The recovery of Ethereum (ETH) has come extremely close to the resistance at $1,700. On July 19, the bears attempted to lower the price, but the bulls held their ground. This shows that traders are not actively locking up profits as they wait for a move higher.The ETH/USDT pair may increase to the psychological level of $2,000 and subsequently to $2,200 if buyers push the price beyond $1,700. In contrast to this presumption, the bears will attempt to push the price toward $1,280 if it declines from $1,700 and breaches $1,493.<img src="https://cdn.builder.news/news/11ed09a81ce75839a8e6023f659fee92.jpg" alt="ETH" title="ETH chart (Source: Tradingview.com)" width="600" height="338" class="lykafe1"><h2>BNB/USDT</h2>BNB crossed the 20-day EMA ($238) on July 14 and the 50-day EMA ($247) on July 16, respectively. On July 17, the bears attempted to push the price back below the 50-day SMA, but the bulls resisted. The BNB/USDT pair resumed its up-move on July 19 and despite facing a slight bear on 20th, it retained its bull till 22.&nbsp;This raises the possibility of a downtrend line breakout. In that case, the price for the pair might increase to $300 and subsequently to $350.In contrast to this presumption, a decline in price and a break below the moving averages would indicate that traders are still selling on rallies and that sentiment is still pessimistic.&nbsp;<img src="https://cdn.builder.news/news/11ed09a81ce75ce3a8e6023f659fee92.jpg" alt="BNB" title="BNB chart (Source: Tradingview.com)" width="600" height="338" class="lykafe2"><h2>XRP/USDT</h2>If the XRP/USDT pair bounces back off the moving averages, it will indicate that traders are now buying on dips and that sentiment has turned bullish. The price will subsequently be pushed to $0.45 in another attempt by the bulls to overcome the overhead barrier. This level may once more prompt aggressive selling by the bears.If the price falls below the moving averages, the optimistic outlook may become short-lived invalid. In such a case, the pair may once more fall below the crucial support level of $0.30.<img src="https://cdn.builder.news/news/11ed09a81ce7618da8e6023f659fee92.jpg" alt="XRP" title="XRP chart (Source: Tradingview.com)" width="600" height="338" class="lykafe3"><h2>ADA/USDT</h2>On July 19, the bears attempted to prevent Cardano's (ADA) recovery from reaching the 50-day SMA ($0.50), but the bulls drove the price over the overhead barrier by buying the fall to the 20-day EMA ($0.47).&nbsp;The price seems to stay stable at around 0.49 these days. It is a possibility that it will remain stuck between the $0.44 to $0.55 range for a few days.<img src="https://cdn.builder.news/news/11ed09a81ce765bda8e6023f659fee92.jpg" alt="ADA" title="ADA chart (Source: Tradingview.com)" width="600" height="338" class="lykafe4"><h2>SOL/USDT</h2>The lengthy wick on the candlestick dated July 19 indicates that Solana's (SOL) comeback is encountering resistance. This implies that bears are still selling at greater levels.The chances of a break above the overhead barrier will increase if bulls do not give the bears much ground. A rise to $60 may be feasible if there is a break and a close above $48.Contrary to what is assumed, the SOL/USDT pair may drop to the moving averages if the price reverses abruptly from its current position. To win, the bears will need to push the pair below the support line.<img src="https://cdn.builder.news/news/11ed09a81ce7698aa8e6023f659fee92.jpg" alt="SOL" title="SOL chart (Source: Tradingview.com)" width="600" height="338" class="lykafe5"><h2>DOGE/USDT</h2>On July 19, Dogecoin (DOGE) broke and closed above the 50-day SMA ($0.07), however as can be seen by the lengthy wick on the July 20 candlestick, the rise is encountering resistance above $0.08.The bulls will attempt to break through the overhead barrier at $0.08 and push the DOGE/USDT pair toward $0.10 if the price bounces off the 20-day EMA ($0.06).Alternatively, the pair might fall to $0.06 if the price breaks below the moving averages. If the pair bounces off of this level, it may trade sideways for a few days between $0.06 and $0.08.<img src="https://cdn.builder.news/news/11ed09a81ce76dd0a8e6023f659fee92.jpg" alt="DOGE" title="DOGE chart (Source: Tradingview.com)" width="600" height="338" class="lykafe6"><h2>DOT/USDT</h2>On July 18, Polkadot's (DOT) recovery surpassed the 50-day SMA ($7.73), but the bulls are having trouble breaking through this resistance. This indicates that the bears are actively protecting this level.It will imply that dips are being bought if the price declines from the current level but rises off the 20-day EMA. After that, the bulls will work to raise the price to $10.If the price declines and breaks below the 20-day EMA, this optimistic outlook may become short-lived. The important support level at $6.36 would then be reached by the DOT/USDT pair.<img src="https://cdn.builder.news/news/11ed09a81ce771d9a8e6023f659fee92.jpg" alt="DOT" title="DOT chart (Source: Tradingview.com)" width="600" height="338" class="lykafe7"><h2>MATIC/USDT</h2>The recent uptrend in Polygon (MATIC) drove the RSI well into the overbought region, suggesting that the rally may have reached an overbought condition sooner than expected.&nbsp;If the price bounces back off the 20-day EMA, it means that bulls are now buying on dips and that the attitude has become positive. After that, the bulls will try to raise the price above $1. In the event that they are successful, the MATIC/USDT pair may advance toward the overhead barrier of $1.20.On the other hand, a break and closure below the 20-day EMA could tip the balance in the bears' favor.<img src="https://cdn.builder.news/news/11ed09a81ce77a81a8e6023f659fee92.jpg" alt="MATIC" title="MATIC chart (Source: Tradingview.com)" width="600" height="338" class="lykafe8"><h2>AVAX/USDT</h2>On July 18, Avalanche (AVAX) broke out of the ascending triangle formation, signaling the beginning of a fresh uptrend. Bears, on the other hand, are selling at higher levels and will attempt to push the price to the breakout level at $21.35, as evidenced by the extended wick on the candlesticks from July 19 and 20.If the price moves back to $21.35, it will imply that bulls have turned the level into support. That can bring back the upward trend toward the $29 pattern target.This optimistic viewpoint can be rendered worthless if the price declines and falls below $21.35. A move like that would imply that bears keep selling throughout rallies. After then, the pair could fall to the support line.<img src="https://cdn.builder.news/news/11ed09a81ce77ef8a8e6023f659fee92.jpg" alt="AVAX" title="AVAX chart (Source: Tradingview.com)" width="600" height="338" class="lykafe9">&gt;&gt;&gt; For more comprehensive information inside the crypto world, check <a href="https://www.builder.news/category/crypto-insights">Crypto Insights</a> from Builder.news

Early indications of a trend reversal are still visible in the market structure of BTC and the majority of altcoins.

Market Analysis: Top 10 cryptocurrencies to watch next week (25 - 31 Jul)