Here is the paraphrased version of the article:
Key takeaways:
- For Bitcoin to keep climbing toward $84,000, it must turn the $80,000 mark into a support level.
- Several leading altcoins are seeing buyers step in at lower prices, but they need to break through overhead resistance before a fresh upward move can begin.
Bitcoin (BTC) has pushed past $78,000, building on its 11.87% April surge, according to CoinGlass data. The April recovery was fueled by strong demand in US spot BTC exchange-traded funds, which recorded $1.97 billion in inflows, per SoSoValue data.
The rally is likely to face selling pressure in the range between the True Market Mean at $78,000 and the Short-Term Holder (STH) cost basis at $79,000. Analysts are keeping a close eye on the $80,000 level, which needs to flip into support to confirm that buyers are still in charge.
Daily crypto market overview. Source: TradingView
CryptoQuant is skeptical that BTC’s rally can continue much further. In a recent report, the analytics firm noted that BTC’s April climb was driven primarily by futures traders, while spot demand actually shrank. This implies “the market’s marginal buyer was speculative rather than fundamental.” CryptoQuant cautioned in an X post that the same pattern had “preceded the next downturn” in 2022.
Can BTC and the major altcoins push past their overhead resistance levels? Let’s examine the charts of the top 10 cryptocurrencies to find out.
Bitcoin price outlook
BTC bounced off the 20-day exponential moving average ($75,814) on Thursday, signaling that buyers are stepping in on pullbacks.
BTC/USDT daily chart. Source: Cointelegraph/TradingView
The relief rally is expected to meet selling pressure at $79,500, but if buyers break through the overhead resistance, the uptrend should pick up steam, and the BTC/USDT pair could rally to $84,000.
The 20-day EMA is the key level to watch on the downside. If the BTC price reverses lower from the current level or the overhead resistance and drops below the 20-day EMA, it could trigger a deeper pullback toward the 50-day simple moving average ($72,362) and then the support line.
Ether price outlook
Ether (ETH) is holding support near the 50-day SMA ($2,207), suggesting that buyers are treating dips as opportunities to accumulate.
ETH/USDT daily chart. Source: Cointelegraph/TradingView
The flattening 20-day EMA and the relative strength index (RSI) hovering just above the midpoint point to fading momentum. If the ETH price turns lower and breaks below the 50-day SMA, the next likely target is the support line.
On the other hand, if the price stays above the 20-day EMA, buyers will try to push the ETH/USDT pair toward
The XRP/USDT pair dropped from the resistance of the ascending channel at $2,465 and has pulled back. The next significant directional move is anticipated to begin once the price closes either above the resistance level or below the support level. Until that breakout occurs, the pair is expected to continue trading within the channel.
XRP price prediction
XRP (XRP) continues to trade within the $1.27 to $1.61 range, reflecting a pattern where traders are buying during dips and selling during rallies.
XRP/USDT daily chart. Source: Cointelegraph/TradingView
The 20-day EMA ($1.39) has begun to slope downward, and the RSI sits near its midpoint, giving sellers a slight edge. If XRP stays below the moving averages, the chances of a decline toward the $1.27 support grow stronger.
However, buyers may have a different strategy. They will try to push the price back above the moving averages. Should they succeed, the XRP/USDT pair could rally toward the descending channel’s downtrend line and then to the $1.61 resistance. A trend reversal would be confirmed on a close above the $1.61 mark.
BNB price prediction
BNB (BNB) slipped below the moving averages on Tuesday, but sellers were unable to capitalize on this move. This suggests there is decent demand at lower price levels.
BNB/USDT daily chart. Source: Cointelegraph/TradingView
Bulls are now working to push BNB back above the moving averages. If they manage this, the BNB/USDT pair could climb toward $654 and subsequently to the $687 overhead resistance.
Conversely, if the price turns lower and breaks beneath $610, it would indicate that sellers are still in command. The pair could then fall toward the $570 support level, where buyers are likely to step in.
Solana price prediction
Buyers are trying to hold Solana (SOL) above the $82.65 level, but sellers continue to apply downward pressure.
SOL/USDT daily chart. Source: Cointelegraph/TradingView
If the $82.65 level gives way, the SOL/USDT pair could slide toward $76. Buyers are expected to fiercely defend the $76 level, as a close beneath it could trigger the next wave of decline toward $67.
On the flip side, if SOL rises above the moving averages, it would suggest that the pair may consolidate within the $82.65 to $90.73 range for a while longer. A close above $90.73 would pave the way for a retest of the $98 overhead resistance.
Dogecoin price prediction
Dogecoin (DOGE) is displaying strength, as buyers managed to prevent the pullback from falling below the $0.10 level on Thursday.
Here’s the rewritten version:
DOGE/USDT daily chart. Source: Cointelegraph/TradingView
This setup raises the chances of an upward move toward the $0.12 resistance level above, where sellers are likely to put up a fierce fight. Should the price drop sharply and fall beneath the moving averages, it would indicate that the DOGE/USDT pair could continue trading within the $0.09 to $0.12 range for some additional time.
On the other hand, if buyers manage to break through the $0.12 barrier, it would signal that the pair may have found its bottom in the short term. The DOGE price could then climb to $0.14 and eventually reach $0.16.
Hyperliquid price prediction
Hyperliquid (HYPE) slipped below the 50-day SMA ($39.84) on Thursday, but the long lower wick on the candlestick indicates that buyers stepped in at cheaper prices.
HYPE/USDT daily chart. Source: Cointelegraph/TradingView
Bulls are working to drive the HYPE price above the 20-day EMA ($40.85). If successful, the HYPE/USDT pair could advance toward the $43.76-$45.77 resistance zone overhead. A decisive close above this zone would open the door for a push toward $50.
Going against this outlook, if the price reverses downward and drops below $38.70, it would suggest that sellers are offloading on every bounce. This could trigger a steeper decline to $37.77 and then further down to $34.45.
Related: Did Dogecoin bottom first? DOGE price poised for 20% gains as whales return
Cardano price prediction
Cardano (ADA) has been holding steady near the moving averages, showing that buyers have maintained their momentum.
ADA/USDT daily chart. Source: Cointelegraph/TradingView
This strengthens the case for a breakout above the downtrend line. If that materializes, the ADA/USDT pair could jump to $0.32 and subsequently to $0.37, hinting at a possible shift in the short-term trend.
This optimistic scenario would be negated in the near term if the ADA price plunges and drops below $0.22. Such a breakdown would imply that the pair could stay trapped within the descending channel for several more days.
Bitcoin Cash price prediction
Bitcoin Cash (BCH) rebounded from $443 once more, showing that buyers are vigorously protecting this support level.
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Daily BCH/USDT chart. Source: Cointelegraph/TradingView
Slight resistance sits at the 50-day SMA ($453), but this level will probably be surpassed. The BCH/USDT pair could then climb toward $486, where bears are likely to increase selling pressure. Still, if bulls push through that hurdle, the pair might advance to $520.
If instead BCH drops sharply from $486 and falls below the moving averages, it would signal that bears continue to sell on strength. In that case, the pair may trade sideways between $419 and $486 for a while.
Monero price prediction
Monero (XMR) rebounded from the 20-day EMA ($366) on Wednesday, reflecting a bullish tone.
Daily XMR/USDT chart. Source: Cointelegraph/TradingView
The rising 20-day EMA and RSI in positive territory point to an upward bias. Should buyers lift and hold XMR above the $406 resistance zone, the rally could extend toward the $500 level.
On the flip side, if price retreats sharply from overhead resistance and dips below the moving averages, the XMR/USDT pair may consolidate between $302 and $406 for some time.
