BTC is facing resistance at the 200-day simple moving average ($84,000), but a promising sign is that bulls are holding their ground against the bears. According to Bitget Research chief analyst Ryan Lee, Bitcoin must secure a weekly close above $81,000 to demonstrate resilience. However, if the price drops below $76,000, selling pressure could intensify.
Markus Thielen, head crypto researcher at 10x Research, shared a cautious view. He told Cointelegraph that Bitcoin’s chart shows uncertainty rather than clear bullish growth. Thielen is unsure if Bitcoin will see a strong price recovery right now.
However, Bitcoin network economist Timothy Peterson has a different view. In an X post, Peterson said that April and October are the two months that generate a large portion of Bitcoin’s annual performance. That suggests Bitcoin could rise to a “new all-time high before June.”
Can Bitcoin break above short-term resistance? If it does, which other top cryptocurrencies might rise soon?
Bitcoin price analysis
The downsloping 20-day exponential moving average ($86,188) suggests that bears are in command, but the positive divergence on the relative strength index (RSI) indicates that the selling pressure is reducing.
If the price turns down from the current level, the BTC/USDT pair could drop to $80,000 and then to $76,606.
Contrarily, if the price turns up and breaks above the 20-day EMA, it will signal that the markets have rejected the breakdown below the 200-day SMA. The pair could rally to the 50-day SMA ($93,033) and, after that, to $100,000. Buyers may find it difficult to surpass the psychological barrier at $100,000.
The 20-EMA on the 4-hour chart is flattening out, and the RSI is just above the midpoint, indicating a balance between supply and demand. Buyers will have to drive the pair above the resistance line to gain the upper hand. The pair may climb to $92,810 and then to $95,000.
The downside support is at $80,000 and next at $78,000. If the supports crack, the possibility of a drop below $76,606 increases.
BNB price analysis
BNB
BNB$628.09 started a recovery from $507 on March 11, which is facing selling at the 50-day SMA ($621).
The 20-day EMA ($595) is an important support level to keep an eye on. If the price bounces off this level, it means buyers are stepping in during small dips. This increases the chances of breaking above the 50-day SMA, which could push the BNB/USDT pair up to $686.
Contrary to this assumption, if the price turns down and breaks below the 20-day EMA, it will indicate that the bears are fiercely defending the 50-day SMA. The pair may tumble to $550.
The 20-EMA has turned up on the 4-hour chart, and the RSI is in the positive zone, indicating a bullish sentiment. There is resistance at $632, but if buyers overcome it, the pair could jump to $680.
This optimistic view will be negated in the near term if the price turns down and breaks below the 20-EMA. The pair may dip to the 50-SMA, which is again likely to attract buyers. A break below the 50-SMA will tilt the advantage in favor of the bears.
Toncoin price analysis
TON rose sharply from $2.35 on March 11 and reached the 50-day SMA ($3.64) on March 16.
The correction from the 50-day SMA is expected to find support at the 20-day EMA ($3.15). If that happens, it will signal a change in sentiment from selling on rallies to buying on dips. That increases the possibility of a rally above the 50-day SMA. The TON/USDT pair could climb to $4 and later to $5.
Contrarily, a break and close below the 20-day EMA suggests that the bears remain active at higher levels. The pair may then drop toward $2.50.
The 4-hour chart shows the up move is facing selling at the $3.60 level, but buyers are expected to defend the 20-EMA on declines. If the price turns up sharply from the 20-EMA, the bulls will try to propel the price above $4.15. If they manage to do that, the pair could jump toward $4.67.
Conversely, if the price turns down and breaks below the 20-EMA, it will signal that the bears remain active at higher levels. The pair may drop to the 50-SMA and subsequently to $2.50.
Gate Token price analysis
Gate Token (GT) has formed a symmetrical triangle pattern, indicating indecision between the bulls and the bears.
The 20-day EMA ($21.06) is flattening out, and the RSI has risen to the midpoint, indicating that the selling pressure is reducing. If buyers drive the price above the triangle, it will signal the resumption of the upmove. The GT/USDT pair could climb to $24 and eventually to $26.
If the price continues lower and closes below the 20-day EMA, it will signal that the pair may remain inside the triangle for a while. The bears will be back in command on a break below the triangle.
The 4-hour chart shows that the bears are finding it difficult to maintain the price below the 20-EMA. That suggests demand at lower levels. Buyers will try to strengthen their position by pushing the price above the resistance line. If they do that, the pair could rally toward $24.
Instead, if the price turns down and breaks below the 50-SMA, it will signal that the bullish momentum is weakening. The pair may descend to $19 and eventually to the support line.
Cosmos price analysis
ATOM broke above the 20-day EMA ($4.31) on March 15, indicating that the selling pressure is reducing.
The RSI has formed a positive divergence, suggesting that the bearish momentum is weakening. The 50-day SMA ($4.73) could act as resistance but is likely to be crossed. A close above $5.15 could open the doors for a rally to $6.50.
The 20-day EMA is the crucial support to watch out for on the downside. If this support gives way, it will signal that the bears remain sellers on rallies. That could sink the ATOM/USDT pair to $3.50.
The price is pulling back and may drop to the 20-EMA. If it bounces back from there, it means buyers are stepping in, increasing the chances of a rise above $5.15. If that happens, the price could climb to $5.50 and then $6.50.
However, if the price falls below the 20-EMA, this outlook will change. In that case, it may drop further to the 50-SMA and then down to $3.80.
Source: Cointelegraph
