``` Bitcoin price stability creates lucrative setups in TON, XMR, MNT and QNT - Coin Postman
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Bitcoin price stability creates lucrative setups in TON, XMR, MNT and QNT


Summary:

– Bitcoin’s velocity has declined to a 3-year low, which may be viewed as positive or negative depending on the perspective.

– JPMorgan analysts believe Bitcoin’s downtrend could be ending, based on the declining open interest in Bitcoin futures contracts.

– Several altcoins show signs of strength and may offer short-term trading opportunities.

Bitcoin price analysis:

  • Bitcoin is currently in a range-bound action, with the next directional move unclear.
  • The downsloping 20-day exponential moving average and oversold RSI indicate bears are in command.
  • If buyers push the price above the 20-day EMA, a possible rally to the 50-day simple moving average may occur.
  • If bears pull the price below $24,800, a downtrend to $20,000 is possible.

Toncoin price analysis:

  • Toncoin is forming an inverse head and shoulders pattern.
  • If buyers break and close above $1.53, a new uptrend towards $1.91 could start.
  • Bears will try to guard the $1.53 level and pull the price below the moving averages.

Monero price analysis:

  • Monero shows support at the uptrend line and a potential rebound.
  • A climb to the 20-day EMA and 50-day SMA is possible, but bears continue to sell on rallies.
  • A break below the uptrend line could result in a slide to $125 and $115.

Mantle price analysis:

  • Mantle has been in a strong downtrend since July 20.
  • An outside-day candlestick pattern suggests a relief rally is possible.
  • A rise to the 20-day EMA and the 38.2% Fibonacci retracement level could occur.
  • A turn down from the 20-day EMA may result in a retest of support at $0.41.

Quant price analysis:

  • Quant rebounded off strong support at $95 and rose above the moving averages.
  • A push to the downtrend line could indicate a change in sentiment from selling on rallies to buying on dips.
  • A rally to $120 is possible if the price breaks above the downtrend line.
  • A break below the moving averages may result in a slide to the support at $95.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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