With the total market capitalization of cryptocurrencies popping up 2% on Monday afternoon, individual cryptos have started to move closer to “greed” mode. That’s the assessment of the fear and greed index posted by Coinmarketcap. As a result, it’s quite possible that both established and up-and-coming virtual currencies can swing higher on the momentum.

Fundamentally, it appears that the fat cats on Wall Street have taken a significant liking toward cryptos. According to investment firm CoinShares, institutional investors continue to pour money into digital assets, accounting for $125 million worth of inflows over the past week. With BlackRock (NYSE:BLK) applying for a crypto-based exchange-traded fund, interest in the space skyrocketed.

Again, it must be emphasized that cryptos may flourish over the next several sessions. If you’re a speculative day trader, this juncture may be a bullish opportunity. However, for conservative buy-and-hold types, it’s a tricky narrative. Recently, the equities sector responded well to better-than-expected inflation figures. However, prices remain high compared to historical norms. Also, unemployment ticked higher while households wrestled with a record $17 trillion-plus debt load. How are retail investors supposed to keep bidding up cryptos? Keep that question in mind as we examine the below cryptos.

Bitcoin (BTC-USD)

Sparking significant interest in cryptos, Bitcoin (BTC-USD) – which previously went rangebound after breaching the $30,000 level – found renewed momentum, with the price on Monday afternoon crossing above 31K. Per Coinmarketcap, BTC gained nearly 2% in the trailing 24 hours from the time of writing. Over the last seven days, the benchmark of all virtual currencies clocked in a 3%-plus performance.

On a “fundamental” note, though, it will be interesting to see how much support the latest rally will attract. Around June 20 when Bitcoin started to swing conspicuously higher, rising volume levels confirmed the optimistic sentiment. In retrospect, it wasn’t that surprising that BTC crossed above the 30K line. However, since June 21, Bitcoin’s volume level has steadily begun to fade. At the moment, volume is not confirming the ongoing rally as it’s significantly lower than the volume level posted on the June 30 session.

As a swing trade, I can see BTC rising over the next several days. However, conservative investors may want to wait for the volume to pick up before making consequential moves.

Ethereum (ETH-USD)

Interestingly, those that want to speculate on major cryptos may have a better opportunity with Ethereum (ETH-USD). It’s possible that ETH may be printing a cup-and-handle formation. If so, traders could be looking at a robust near-term profitable setup.

First, the trough of the cup materialized around mid-June. Prominently, ETH’s 200-day moving average provided support back then. From there, Ethereum rallied sharply, eventually breaking above its 50 DMA on June 21. At the “close” of that session, ETH traded hands for $1,890. Following the June 21 session, the coin entered a consolidation pattern. However, during the consolidation, ETH did not really fall below its 50 DMA. The last point is significant because, with the present rally in cryptos, Ethereum appears poised to run higher. It wouldn’t be surprising if it did because it would simply follow the implications of the cup-and-handle pattern. However, the volume trend remains pensive compared to earlier months this year. So, be prudent if you’re a conservative participant in cryptos.

Tether (USDT-USD)

As a stablecoin or class of virtual currencies pegged to a hard currency, Tether (USDT-USD) doesn’t carry the profit/loss paradigm that undergirds most other cryptos. Instead, Tether and its ilk provide a mechanism to “freeze” dollar-denominated wealth into a crypto format. For example, Tether enables Bitcoin holders to sell their BTC but in USDT units. That way, they can immediately convert back into BTC if another opportunity arises.

Also, if you’re a frequent trader of cryptos, it’s just more convenient to hold stablecoins rather than fiat currencies. Because of the cumbersome conversion process involved with turning fiat into blockchain assets, it may be difficult to react immediately to trading setups. Still, going the stablecoin route isn’t without its risks. Though Tether commands significant clout because of its long-established presence, an aura of mystery surrounds the underlying enterprise. Without a transparent audit, investors don’t really know for sure if USDT is backed by anything.

Given the regional banking crisis, the mixing of fiat and blockchain assets can potentially spark serious problems. So, as always, buyer beware.

BNB (BNB-USD)

On paper, BNB (BNB-USD) – the virtual currency associated with the now-troubled Binance exchange – appears to have benefitted from the sentiment boost lifting cryptos. Over the trailing one-week period, BNB gained 5% of market value. However, in the past 24 hours, the coin only gained less than 1%. Looking at its chart, BNB may face frustrating challenges.

Early last month, the U.S. Securities and Exchange Commission (SEC) filed charges against Binance, in part for operating unregistered exchanges and misrepresenting trading controls. Aside from the ugly legal matter, the matter raised doubts about the sustainability of blockchain-related enterprises. Not surprisingly, then, folks took a dim view regarding BNB.

It’s evident in the charts because the underlying coin trades conspicuously below its 50 and 200 DMAs. Also, it has a long way to go before establishing credibility. During the Binance fallout, divesting volume spiked sharply, signifying massive net outflows. Therefore, it’s probably best to adopt a conservative outlook on BNB.

Cardano (ADA-USD)

Another alternative crypto or altcoin that incurs a challenging technical framework, Cardano (ADA-USD) benefited percentage-wise from the broader rally in cryptos. Over the past seven days, ADA gained over 6% of market value. Further, in the trailing 24 hours, it managed to swing up almost 2.5%. However, the bigger picture remains a vexing proposition.

As with BNB above, Cardano suffered badly in early June. Further, as ADA made its way down to the depths, selling volume spiked, thus confirming the bearishness. Unfortunately, the same cannot be said about bullish volume confirming the most recent rally. Sure, volume did pop up as ADA delivered sizable percentage gains. But the move wasn’t what I would label remarkable.

In addition, ADA finds itself below its 50 and 200 DMA; also, the nearer-term running average sits below the longer-term average, signifying persistent pessimism. On the contrarian side, I suppose you can make the argument that ADA is oversold. However, it’s also possible that investors are giving up on the coin. I’d be super careful here.

Dogecoin (DOGE-USD)

Ever the loveable meme coin, Dogecoin (DOGE-USD) continues to defy logic – according to its many critics – and attracts legions of fans. To be sure, DOGE only gained less than half a percent over the past 24 hours. However, in the trailing seven days, DOGE swung up nearly 7%. So, it’s definitely benefitted from the rising institutional demand for cryptos.

Now, from a cursory glance at the charts, Dogecoin seems to run on the riskier side of things. For example, DOGE trades hands right at its 50 DMA. Also, this near-term moving average sits beneath its 200 DMA. Again, this setup doesn’t exactly spark the greatest of confidence. However, Dogecoin also appears to have hit a bottom at around the 6-cent line. It also turns out that this level corresponds with longer-term support that helped steady the waters in late 2022. Thus, it’s possible that DOGE can bounce higher from here.

Is that enough reason to bet on Dogecoin? It’s a risk-reward setup that only you can answer for yourself. However, as far as altcoins go, DOGE does seem interesting for bulls right now.

Solana (SOL-USD)

For those that enjoy a good boxing match, Solana (SOL-USD) could be enticing. Over the past 24 hours, SOL lost more than 2% of its market value, which is odd. Most other cryptos within the top 10 most valuable blockchain assets are up in the last 24. However, over the trailing one-week period, Solana gained over 18%. That’s quite a stunning performance, outpaced only by one other virtual currency at the time of writing.

However, in the bigger picture, SOL has a massive fight on its hands. As one of the cryptos that suffered a severe loss of value in early June, Solana – once a favorite among blockchain advocates for its potential ability to usurp Ethereum’s utilitarian value – incurred a credibility crisis. It has since bounced back from its June lows. But sitting at just over $19, the real work begins.

Currently, SOL is sandwiched between its 200 DMA at the top and 50 DMA at the bottom. Technical support lies at $20, meaning that Solana really needs to pick up the pace. If the bulls ultimately win out, SOL could easily see a skyrocketing. However, if the bears take control, a retest of its June lows would not be out of the question. Bottom line: don’t trade Solana if you suffer from high blood pressure.

On the date of publication, Josh Enomoto held a LONG position in BTC, ETH, and USDT. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.