Bulls Pursue $50K to Drive IMX, KAS, TIA, and STX Rally

Risky assets have been performing well recently, with the S&P 500 Index and Bitcoin both seeing gains. Bitcoin’s rise has led to positive sentiment, but there may be resistance ahead. Altcoins are also starting to show movement. Let’s take a look at the charts of the top 5 cryptocurrencies that may outperform in the near future.

Bitcoin has reached a strong resistance level at $48,970, where bulls and bears are likely to battle it out. The upward trend suggests that the path of least resistance is to the upside. If the price breaks above $48,970, it could accelerate towards $52,000 and potentially even $60,000. If the price turns down sharply, it may consolidate between $44,700 and $48,970. A break below the 20-day exponential moving average (EMA) would weaken the short-term trend.

Immutable (IMX) broke above the $2.60 resistance, indicating a continuation of the uptrend. There may be resistance at $2.85. If the price turns down and falls below $2.60, it could indicate weakening momentum. The next support level is the 20-day EMA at $2.24. If the bulls hold their ground and the price breaks above $2.85, the pair could climb to $3 and even $3.50. A break below the 20-EMA would invalidate the bullish view.

Kaspa (KAS) successfully defended the $0.10 support level and picked up momentum after breaking above the moving averages. Sellers may pose a challenge at the stiff resistance near $0.15. If the support level holds, there is a possibility of a break above $0.15. The next minor resistance is at $0.16, and if that is surpassed, the pair could reach $0.20. A break below $0.13 could keep the pair range-bound between $0.10 and $0.15 for a while.

Celestia (TIA) has been in an uptrend, but is facing resistance at $20.40. The moving averages and RSI suggest that buyers remain in control. If the bulls hold their ground, there is potential for a rally above $20.40, with the next target at $25. A break below the 20-day EMA would tilt the short-term trend in favor of the bears, with a potential drop to $15.60.

Stacks has risen above the $1.78 resistance, indicating strong demand at lower levels. The 20-day EMA is turning up and the RSI is nearing the overbought zone, suggesting that the bulls are in command. The next hurdle is at $2.06, and if that is overcome, the pair could surge to $3. On the downside, the 20-day EMA serves as an important support level. If it holds, the pair is expected to resume its uptrend, but a break below could lead to a drop to $1.45.

These top 5 cryptocurrencies are showing potential for further gains, but resistance levels and the behavior of key indicators should be closely monitored.