Bitcoin and several altcoins are trading in a tight range during the weekend, suggesting that investors are undecided about the next directional move.
In addition, the European Central Bank is expected to raise rates for the first time since 2011, according to a Reuters source.
Bitcoin broke below the psychological support at $40,000 on April 22 but the bears have not been able to build upon this advantage.
If bears sink and sustain the price below $39,000, the BTC/USDT pair could drop to the support line of the ascending channel.
The downsloping 20-EMA and the RSI in the negative territory suggest the path of least resistance is to the downside.
If the price breaks below $39,177, the pair could slide to $38,536.
Conversely, if bulls thrust the price above the 50-day SMA , the bullish momentum could pick up and the DOT/USDT pair may rally to the overhead resistance at $23.
Conversely, if the price turns up from the current level and rises above the downtrend line, it may invalidate the bearish setup.
The XMR/USDT pair could first drop to the 20-day EMA which is likely to act as a strong support.
The pair has dropped below the 50-SMA, indicating profit-booking by short-term traders.
If the price turns up from the current level, the bulls will attempt to push the pair above $18.44.
Although the rising 20-EMA indicates advantage to buyers, the RSI has formed a negative divergence suggesting that the positive momentum may be weakening.
The 20-day EMA are turning up gradually and the relative strength index is in the positive territory, suggesting that bulls have the upper hand.
Contrary to this assumption, if the price turns down from the 200-day SMA, it will suggest that the bears have not yet given up and they continue to sell on rallies.
The moving averages on the 4-hour chart have turned up and the RSI is in the positive territory, indicating that bulls have the upper hand.
Contrary to this assumption, if the price turns down from the current level, the bears will attempt to pull the pair below the 20-EMA.