The restrained trading of Bitcoin BTC $30,679 could potentially conclude soon, signifying an impending upswing. On the other hand, LTC, XMR, AAVE, and MKR are already showcasing robust growth.

Bitcoin, despite its confined trading in recent times, has managed an impressive 84% upswing in 2023. This remarkable resurgence has amplified interest in several altcoins, which have significantly appreciated from their annual lows.

As we kickstart the latter half of the year, a burning question for investors is whether this rally will endure. Historical data from CoinGlass indicates that only thrice since 2013 has July closed on a negative note, the most significant drop being 9.69% in 2014. This offers a slight bias towards bullish trends.

Considerable optimism around the US Securities and Exchange Commission possibly approving one or more applications for a Bitcoin spot exchange-traded fund fueled the latest surge in Bitcoin and altcoins. Any unfavorable news in this regard could flip the market sentiment to bearish, triggering a drastic sell-off.

Presently, Bitcoin and a selection of altcoins display a robust stance. Let’s delve into the price analysis of the top 5 cryptocurrencies that may sustain their upward trajectory in the coming days.

Bitcoin Price Analysis

Bitcoin is currently trading near a formidable overhead resistance of $31,000. The apparent lack of hurry among bulls to cash in their profits indicates expectations of further growth. The increasing 20-day exponential moving average ($29,278) and a positive territory relative strength index (RSI) suggest the likely path forward is an upward trend.

Litecoin Price Analysis

Litecoin LTC $112.18 recently broke free from the confinements of the descending channel and the overhead resistance of $106, indicating an uptrend revival. If the price successfully maintains a level above $106, the odds of the rally continuing increase. The LTC/USDT pair may then scale towards the resistance zone of $134-$144.

Monero Price Analysis

Monero XMR $168 ascended and closed above the downtrend line on June 23, negating the formation of a descending triangle pattern. After a substantial rally, the price has been fluctuating between $171 and $160. This consolidation phase is a positive sign as it denotes that the bulls are anticipating a further upward trend.

Aave Price Analysis

Aave AAVE $70.21 has been consistently trading within a descending channel pattern. However, the price rebounded from the channel’s resistance line, and the bulls halted the correction at the 20-day EMA ($61.69). This signals a change in market sentiment from selling on highs to buying on lows.

Maker Price Analysis

Maker MKR $907 is on the verge of initiating an upward trend. Bullish investors capitalized on the dip to the moving averages between June 24 and 28, indicating a demand surge at lower levels. However, the rally is facing resistance at higher levels. The crucial level to watch is the 20-EMA, as a break below it may shift the advantage to the bears.