Bitcoin's (BTC) price continues to be range-spring betwixt $thirty,000 and $40,000 level for the by few days, which is not necessarily a surly sign.

Generally, later a abrupt fall, the price tends to consolidate as the nugget transfers from weaker hands to stronger easily. Afterwards the transition is complete, the asset breaks out and starts a new uptrend. Usually, the longer the cost consolidates in a range, the stronger the next trending move will be.

Bloomberg Intelligence senior article strategist Mike McGlone said on Saturday that Bitcoin'southward declining supply was a positive sign, which could act as a "bullish ace" for its motion higher "if by patterns hold."

Crypto market place data daily view. Source: Coin360

Yoni Assia, CEO of eToro, also told Cointelegraph that Bitcoin could see a sharp ascent "over the next iii to five years, every bit there are even so 5 billion people in the world that basically don't accept proficient local currency."

Related: Bitcoin price could hit $85K in months equally indicators flip bullish — report.

Therefore, investors should not be discouraged by the muted price action in the brusque term. Bitcoin'southward fundamentals remain strong and are likely to result in a new uptrend in the future.

Equally crypto markets consolidate, let'south analyze the charts of the top-5 cryptocurrencies that may outperform in the next few days.

BTC/USDT

Bitcoin turned down from the resistance line of the descending triangle on Jan. 12 and broke below the 20-day exponential moving average ($36,586). This suggests that the bears are aggressively defending the resistance line.

BTC/USDT daily nautical chart. Source: TradingView

The longer the cost stays below the 20-day EMA, the greater the chances of a driblet to the lower levels. If bears sink the toll below $34,600, the BTC/USDT pair could drop to $33,400 and then to $31,000.

A break and shut below $31,000 volition complete a descending triangle design, which has a target objective at $19,549. Notwithstanding, it is unlikely to be a straight drop to the lower levels because the bulls will endeavour to stall the pass up in the $31,000 to $28,000 support zone.

This negative view will invalidate if the price continues to move upward and rises higher up the resistance line of the triangle. Such a move could open the gates for a rise to the fifty-twenty-four hour period uncomplicated moving average ($44,709), which is over again likely to act as a strong resistance.

A break above the 50-solar day SMA will suggest that the correction could exist over and the bulls will gradually try to first a new up-motility.

BTC/USDT 4-hour nautical chart. Source: TradingView

The moving averages on the 4-hour nautical chart have been crossi each other and the relative strength index (RSI) is just above the midpoint, indicating that bulls are trying to make a improvement.

A breakout and close to a higher place the resistance line of the triangle will bespeak that need exceeds supply. If the bulls sustain the price higher up the triangle, a new upward-move could begin.

Alternatively, if the price turns down from the resistance line and breaks below $34,000, it could signal a minor advantage to the bears. That could pull the price down to the critical back up at $31,000. A bounciness off this support will advise accumulation at lower levels and that could keep the pair inside the triangle for some more fourth dimension.

AAVE/USDT

Aave is trading inside a large range between $280 and $581.67 for the past few months. The bulls have successfully defended the back up of the range on five previous occasions, hence the buyers are likely to buy the dip once again.

AAVE/USDT daily chart. Source: TradingView

If the price rebounds off the electric current level with forcefulness, it will advise that the bulls continue to accrue on dips. The buyers will and so attempt to push the price above the 20-day EMA ($344). If they succeed, the AAVE/USDT pair could rise to the 50-day SMA ($414), which may human action as a potent hurdle.

If the toll turns down from the 50-twenty-four hours SMA, the pair could consolidate between $280 and $414 for a few days. On the contrary, a break in a higher place the 50-day SMA will articulate the path for a northward march toward $581.67.

This positive view will invalidate if the price turns down from the twenty-twenty-four hours EMA and breaks below the $280 back up. That volition embolden the bears who will then try to pull the price downward to $208.09 and so to $160.

AAVE/USDT four-hour chart. Source: TradingView

The 4-hour chart shows the bears had pulled the cost below $280 but they are struggling to sustain the lower levels. However, the moving averages are sloping down and the RSI is in the negative zone, indicating advantage to the bears.

If the price turns downwardly from the electric current level and breaks below $266.68, the pair could beginning its downward journeying. This negative view will invalidate if the bulls button the price above the downtrend line. Such a move will advise the correction is over and the pair could then ascent to $500.

KSM/USDT

Kusama (KSM) has been witnessing volatile moves in the past few days. Although the bulls pushed the price in a higher place the $480 overhead resistance on June 9, they could not sustain the higher levels and the price dipped dorsum below the level on June x. This shows that bears are selling on rallies.

KSM/USDT daily chart. Source: TradingView

However, the buyers accept not allowed the price to interruption below the xx-solar day EMA ($388). This suggests that the sentiment is turning positive equally the bulls are ownership the dips to the 20-twenty-four hour period EMA.

The ascension 20-day EMA and the RSI well-nigh the midpoint indicate a minor advantage to the bulls. The buyers will now make 1 more attempt to push the cost above $480. If they succeed, the KSM/USD pair could rally to $537 and then retest the all-time high at 625.

This positive view will invalidate if the toll turns down from the electric current level or the overhead resistance and breaks beneath $360. That could pull the toll downward to $280.

KSM/USDT 4-hour nautical chart. Source: TradingView

The 4-hour chart shows the bulls are trying to defend the trendline support. However, the 20-EMA has turned downwardly and the RSI is in the negative zone, indicating the bears have the upper hand.

If the sellers sink the cost beneath $380, the pair could driblet to $342. A interruption below this support could effect in a decline to $280.

This negative view will invalidate if the bulls can push the toll higher up $429. That could attract buying, pushing the pair to $480.

ALGO/USDT

Algorand (ALGO) bounced off the trendline on June 12 and rose above the 20-24-hour interval EMA ($0.97), which suggests the bulls are buying on dips. The flattish 20-24-hour interval EMA and the RSI near the midpoint suggest the selling pressure has reduced.

ALGO/USDT daily chart. Source: TradingView

The price activity of the past few days has formed an ascending triangle blueprint, which will complete on a breakout and shut above $1.xv. If the bulls manage to sustain the price above $i.15, the ALGO/USDT pair could rally to the target objective at $1.63.

Contrary to this assumption, if the price turns downwards from $i.15, the pair may extend its stay inside the triangle for a few more days. A breakdown and close beneath the trendline will nullify the bullish view and open up the gates for a driblet to $0.80 and and so $0.67.

ALGO/USDT 4-hour chart. Source: TradingView

The 4-hour nautical chart shows the bulls are attempting to push the price to a higher place the downtrend line. If they can sustain the breakout, the pair could ascension to $1.15. A breakout and shut in a higher place this resistance could starting time a new uptrend.

Conversely, if the price turns down from the current level and breaks below the moving averages, the bears volition make ane more than attempt to sink the price below the trendline. If they succeed, it will bespeak the start of a deeper correction.

TFUEL/USDT

Theta Fuel (TFUEL) soared to a new all-time high at $0.679 on June 9 simply the bulls could non sustain the higher levels every bit seen from the long wick on the day's candlestick. That was followed by a sharp pullback to the 20-mean solar day EMA ($0.41) on June 12.

TFUEL/USDT daily chart. Source: TradingView

The stiff rebound off the 20-solar day EMA shows the sentiment is positive and traders are aggressively buying on dips. The bulls volition now try to push the cost to the all-fourth dimension high where they are likely to encounter strong resistance from the bears.

If the price turns down from the all-time high, the bears will brand one more attempt to pull the price beneath the twenty-day EMA. If they succeed, it volition suggest the start of a deeper correction.

Alternatively, if buyers propel the price above the all-time high, the TFUEL/USDT pair could resume the uptrend, with the next target objective at $0.85 and then $1.

TFUEL/USDT 4-hour chart. Source: TradingView

The 4-hour nautical chart shows the pair rebounded strongly off the $0.xl support, which suggests accumulation at lower levels. Withal, the relief rally is facing resistance just below the 61.8% Fibonacci retracement level at $0.57.

This suggests that the bears have non given up yet and are selling on rallies. If the toll dips below the xx-EMA, the bears volition try to pull the toll downwards to $0.40. If that happens, the pair may consolidate between these ii levels for a few days.

Alternatively, if the price rebounds off the 20-EMA, it will bespeak the sentiment is positive and the bulls are not waiting for a deeper fall to buy. That will increase the possibility of a break above $0.57. The pair could and so rise to retest the best high.

The views and opinions expressed hither are solely those of the writer and practice non necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk, y'all should conduct your ain research when making a determination.