The rebound off the $3.90 support in Polkadot (DOT) lacks strength, which shows that the bulls are in no hurry to buy at the current levels because they may not be confident that the correction has ended.
If the price turns down from the 20-day EMA ($4.41), the bears will make one more attempt to sink the DOT/USD pair below $3.90. If they succeed, a drop to $3.5321 and then to $2.782 is possible.
However, if the bulls can push the price above the 20-day EMA, the pair could move to $4.6112 and above it to $5.5899.
Another possibility is that the bulls buy on dips to $3.90 and the bears defend the resistance at $4.6112. Currently, all options are open, hence, traders may wait for a trending move to start before placing large bets.
Chainlink (LINK) is attempting a relief rally from $8.7975 but the rebound lacks strength, which shows low conviction among the buyers to accumulate at current levels.
If the momentum does not pick up, the LINK/USD pair might again turn down from the 20-day EMA ($10.13). Such a move will suggest that bears continue to sell on minor rallies.
The sellers will then try to sink the price below $8.7975 and if that happens, a retest of $6.90 will be on the cards.
A breakout of the 20-day EMA will be the first sign that the bears might be losing their grip and a break above the downtrend line could signal a possible change in trend.
The bulls are defending the $0.144743 support but the rebound from the current levels could again face stiff resistance at the 20-day EMA ($0.153) and then at the downtrend line. If Crypto.com Coin (CRO) turns down from either level, the bears will again try to sink the price below $0.144743.
A breakdown and close (UTC time) below $0.144743 will complete a descending triangle pattern that has a target objective of $0.10607. The downsloping moving averages and the RSI in the negative territory suggest that bears have the upper hand.
Contrary to this assumption, if the bulls can propel the CRO/USD pair above the resistance line of the triangle and the 50-day SMA ($0.160), the uptrend could resume. The first target objective is $0.171541 and above it $0.191101.
Litecoin (LTC) has again reached the 20-day EMA ($46.66) where it is facing stiff resistance from the bears. However, the positive thing is that unlike the previous occasions on Oct. 1 and 2, the altcoin has not witnessed a sell-off.
If the LTC/USD pair does not lose ground, the possibility of a move to the downtrend line increases. The bears may try to stall the relief rally at the downtrend line but if the bulls can push the price above it, the pair could move up to $51.
The 20-day EMA is flattening out and the RSI has risen above 46, which suggests that the selling pressure has reduced.
Contrary to the bullish assumption, if the pair again turns down from the current levels or the downtrend line, the bears will try to sink the price below $41.6298. If they succeed, the pair could drop to the critical support at $39.
Cardano (ADA) is currently facing resistance at the downtrend line but the positive thing is that the bulls are attempting to sustain the price above the 20-day EMA ($0.095). If they succeed, the possibility of a breakout of the 50-day SMA ($0.103) increases.
The 20-day EMA has flattened out and the RSI has risen to the 50 level, which suggests that the bears are losing their grip.
The ADA/USD pair has also formed an inverse head and shoulders pattern that will complete on a breakout and close above the neckline. This bullish setup has a target objective of $0.1331.
This positive view will be invalidated if the pair turns down from the current levels and breaks below the $0.0898–$0.0855 support zone.