Bitcoin (BTC) is attempting to break above the psychologically critical level at $50,000 and close the year on a strong note. The up-move in Bitcoin has led to a sharp recovery in the value of the Crypto Fear & Greed Index from 27 to 45 within a day, signaling improving sentiment.

BlockFi co-founder Flori Marquez said in a recent interview that new talent, regulatory clarity and higher crypto prices could lead to a feeling of FOMO, boosting crypto adoption in 2022. Marquez added that the “majority of Blockfi’s clients–when they receive a BTC reward, they’re not selling that for cash.”

Daily cryptocurrency market performance. Source: Coin360

In another positive news that could boost crypto adoption further, popular internet browser Opera announced an integration with Polygon (MATIC), expected to go live in the first quarter of 2022. Millions of Opera users, first on the Android platform, and then on other devices, will get access to Polygon’s ecosystem.

Could Bitcoin and the major altcoins extend their recovery in the last few days of the year? Let’s study the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin dipped below the 200-day simple moving average ($47,259) on Dec. 17 but the bears could not build upon their advantage and extend the decline further. This shows that selling dried up at lower levels.

BTC/USDT daily chart. Source: TradingView

The bulls pushed the price back above the 200-day SMA on Dec. 21 but the recovery is facing resistance at the 20-day exponential moving average ($49,517). This indicates that bears have not yet given up…


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