ETH, UNI, FIL, and GRT experience bullish surge while Bitcoin maintains price above $51K.

Bitcoin (BTC) is taking a pause near the $52,000 level after a strong two-week run. While the bears are attempting to initiate a correction, the bulls remain resilient. Factors such as robust equity markets, an upcoming halving, and significant inflows into spot Bitcoin exchange-traded funds are likely to limit any downside.
Analysts are closely monitoring the inflows into spot Bitcoin ETFs to determine the next direction for Bitcoin. Recent data from BitMEX Research shows that outflows from Grayscale Bitcoin Trust were at their lowest level since January 11, amounting to just $44 million on February 24.
The overall sentiment in the crypto market remains positive as Bitcoin continues to hold above $50,000. As Bitcoin consolidates, short-term traders may find trading opportunities in altcoins that are showing strength.
The question remains: Will Bitcoin resume its upward trend after a brief pause? And will altcoins follow suit? Let’s take a look at the top 5 cryptocurrencies that appear strong on the charts.
Bitcoin Price Analysis
Bitcoin has found support around $50,500 and resistance near $53,000, indicating a consolidation within a narrow range. This is a positive sign, suggesting that the bulls are not rushing to exit.
The rising moving averages and the relative strength index (RSI) near the overbought zone indicate that the bulls have the upper hand. If the price breaks and closes above $53,000, it could pave the way for a rally towards $60,000.
Time is running out for the bears. To prevent a rally, they must quickly push the price below the breakout level of $48,970. If they succeed, the BTC/USDT pair could drop to the 50-day simple moving average at $45,542.
On the 4-hour chart, the moving averages are flat, and the RSI is slightly above the midpoint, giving a slight advantage to the bulls. If the price stays above the 50-SMA, the pair could rise to $53,000. This level is expected to provide strong resistance, but if it is breached, the pair could rally to $55,000 and then $60,000.
Conversely, if the price turns down from $53,000, the pair may continue to trade within a range. A drop below $50,500 could push the pair towards $48,970. This level is crucial support to watch, as a break below it would favor the bears.
Ether Price Analysis
Ether (ETH) has been on a strong uptrend in recent days. While the bears attempted to halt the upward move near $3,000, the shallow correction suggests that the bulls are not backing down.
The upward-sloping 20-day exponential moving average ($2,784) and the overbought RSI indicate that the bulls are in control. A close above $3,000 could initiate the next leg of the uptrend, with the ETH/USDT pair potentially rising to $3,300 and then $3,650.
The initial support on the downside is at $2,850, followed by the 20-day EMA. A drop below the 20-day EMA would suggest that the bulls may be taking profits, potentially causing the pair to tumble to $2,717 and eventually to the 50-day SMA at $2,527.
On the 4-hour chart, the pair is facing resistance near $3,000, but the bulls have managed to keep the price above the 50-SMA. The 20-EMA is beginning to turn up, and the RSI is in positive territory, indicating that the path of least resistance is to the upside. If the price remains above $3,000, the pair could resume its uptrend.
The first sign of weakness would be a break and close below the 50-SMA. If buyers fail to defend this level, the pair could drop to $2,850 and then $2,717.
Uniswap Price Analysis
Uniswap (UNI) surged above the resistance level of $7.79 on February 23, indicating that the bulls have taken control.
The long wick on the February 24 candlestick shows profit booking near $12.85, leading to a correction. The price is likely to find support at the 50% Fibonacci retracement level of $9.91. If it bounces back from this level, the bulls will attempt to push the UNI/USDT pair to $11.63 and later to $12.85. A break above $12.85 could pave the way for a rally to $17.
However, if the price falls below $9.91, the next support level would be the 61.8% Fibonacci retracement level at $9.21. A break below this level would suggest that the uptrend may be over.
On the 4-hour chart, the bulls are trying to hold the pair above the 20-EMA. If the price rebounds from the current level, it is likely to face strong resistance at $11.63. If buyers manage to hold the price above $11.63, it would increase the chances of a rally to $12.85.
On the other hand, if the price continues to decline and breaks below the 20-EMA, it would indicate a comeback by the bears. The pair could then drop to $9.21 and later to the 50-SMA. The deeper the fall, the longer it may take for the next leg of the uptrend to begin.
Filecoin Price Analysis
The bulls have been unable to push and sustain Filecoin (FIL) above the $8.12 resistance in recent days, but they have kept up the pressure.
The bulls are once again attempting to clear the overhead zone between $8.12 and $8.57 on February 25. If they succeed, it would signal the resumption of the uptrend, with the FIL/USDT pair potentially reaching the $10 resistance level, where the bears are expected to put up a strong defense.
However, if the price turns down and falls below $7.70, it would indicate that the bears are fiercely defending the overhead zone. This could lead to a decline towards the 20-day EMA at $6.74, a level that is likely to provide strong support.
On the 4-hour chart, the pair bounced off the 20-EMA, indicating that sentiment remains positive and traders are viewing the dips as buying opportunities. If buyers can keep the price above the resistance barrier at $8.57, the pair could accelerate towards $9.
While the rising moving averages favor the bulls, the RSI is showing signs of forming a negative divergence, suggesting that bullish momentum may be weakening. To signal the start of a correction towards the 50-SMA, sellers would need to push and sustain the price below the 20-EMA.
The Graph Price Analysis
The Graph (GRT) broke above the overhead resistance level of $0.23 on February 18, indicating a resumption of the uptrend.
The bears are attempting to halt the upward move near $0.30, but a positive sign is that the bulls have not allowed the price to drop below the breakout level of $0.23. This suggests that dips are being bought.
If the price remains above $0.30, the GRT/USDT pair could surge towards $0.37. However, the overbought level on the RSI indicates a possible correction or consolidation in the near term. The bearish scenario would come into play if the price falls below the 20-day EMA at $0.22.
On the 4-hour chart, the pair is finding support at the 20-EMA during dips. While this is a positive sign, the RSI has formed a negative divergence, indicating that bullish momentum may be weakening. If the price continues to decline and breaks below the 20-EMA, selling pressure could increase, leading the pair to drop to $0.23.
On the other hand, if the price turns up from the current level or the 20-EMA, it would signal that the uptrend remains intact. The bulls would then attempt to overcome the barrier at $0.30 and start the next leg of the uptrend.
Disclaimer: This article does not provide investment advice or recommendations. Trading and investing in cryptocurrencies involves risk, and readers should conduct their own research and analysis before making any investment decisions.