A rise in BTC price to $35,000 could open the door for ETH, APT, QNT, and RUNE to rise.

Hopes of the U.S. Securities and Exchange Commission approving a spot Bitcoin ( BTC ) exchange-traded fund helped boost Bitcoin prices by 27% in October. This improved market sentiment and attracted aggressive buying from cryptocurrency investors.

Eric Balchunas, senior ETF analyst at Bloomberg, posted on X (formerly Twitter) that the ProShares Bitcoin Strategy ETF (BITO), the first futures ETF to receive regulatory approval in the United States in 2021, had its second-largest trading week at $1.7 billion. Similarly, Grayscale Bitcoin Trust (GBTC) saw $800 million in trading volume. The sharp rise in the volume of existing instruments suggests that a spot Bitcoin ETF could see huge trading volumes after it is listed.

When leaders start to perform, it often lifts the entire sector. This can be seen in the strong performance of altcoins, which have risen sharply from multi-year lows.

However, after the initial rally, some altcoins will struggle to sustain the up move while a few will lead the market higher. It is best to stick with the leaders as they are most likely to outperform in the next crypto bull run phase.

Let’s take a look at the charts of the top 5 cryptocurrencies that are likely to extend their gains in the coming days.

Bitcoin Price Analysis

On October 24, Bitcoin retreated from $35,280, indicating that higher levels are attracting selling among traders. On October 27, the bears attempted to start a deeper correction, but the long tail on the candlestick showed strong buying at lower levels.

Although the rising moving averages are a positive for buyers, the overbought levels on the relative strength index (RSI) suggest that the BTC/USDT pair might spend more time in consolidation.

The important levels to watch out for on the downside are $32,400 and then $31,000. Sellers must pull the price below this area to wrest control.

Conversely, if the price turns up from the current levels and breaks out of $35,280, it will indicate that bulls are back in command. The pair could subsequently surge towards the next target of $40,000.

The 20-day EMA is gradually flattening out, which shows that the bulls are losing control in the short term. This could keep the pair range-bound between $35,280 and $33,200 for a while. If the bears sink the price below $33,200, the pair can drop to $32,400.

Conversely, if the price rises and rebounds above $35,280, it will suggest that the current consolidation is a continuation pattern. The pair could then surge towards $40,000.

Ethereum Price Analysis

Ethereum ( ETH ) climbed above the $1,746 resistance on October 23 and reached $1,865 on October 26. This level attracted selling by the short-term traders, pulling the price back towards the breakout level of $1,746.

The bulls have managed to hold on to the retest of $1,746, suggesting that this level could act as a new bottom. The rising 20-day EMA ($1,693) and the RSI close to the overbought zone suggest that bulls are in command. Buyers will then strive to push the price above $1,865. If they succeed, the ETH/USDT pair could surge to $2,000.

If the bears want to arrest the up move, they will have to sink the price sharply and sustain it below $1,746. This could open the doors for a drop to the 20-day EMA.

The 20-EMA on the 4-hour chart is flattening out and the RSI is close to the midpoint, which suggests range-bound trading in the near term. The pair might continue to trade between $1,746 and $1,865 for a while.

If the bulls push the price above $1,812, the possibility of a rally to the overhead resistance at $1,865 increases. On the other hand, if the price sustains below the 20 EMA, the bears will try to sink the pair below $1,746. If that happens, the short-term trend will turn bearish.

Aptos (APT) Price Analysis

Aptos (APT) has risen sharply in the past few days, indicating that the bulls are attempting a comeback.

APT/USDT daily chart. Source: TradingView

The APT/USDT pair saw profit booking near $7, but a small positive is that the bulls did not give up much ground. This shows that every minor dip is bought. The bulls will once again try to overcome the $7 barrier. If they succeed in doing that, the pair could start its march towards $8.

Conversely, if the price turns down from $7, it will suggest that bears are still active at higher levels. The pair might then spend more time in a tight range between $7 and $6.20. A break below this support could signal the start of a deeper correction.

APT/USDT 4-hour chart. Source: TradingView

The pair has been finding support at the 20-day EMA, but the negative divergence on the RSI suggests that the bullish momentum might be slowing down. If the price breaks out and sustains below the 20-EMA, it will signal the start of a deeper correction towards the 50-EMA.

This remains a critical level to watch on the downside because if it cracks, the pair could drop to $5.80. On the upside, the bulls must push the price above $7.02 to signal the start of the next phase of recovery.