Source: Cointelegraph Original: "{title}"
Bitcoin bulls are attempting to stage a rebound, but ongoing sell-offs at higher price levels continue to suppress every attack on the range highs. Veteran trader Peter Brandt posted on X that Bitcoin has broken out of a bear wedge pattern, with a target price of $65,635.
According to Nic Puckrin, founder of Coin Bureau, the current macroeconomic environment and concerns over a prolonged trade war have raised the likelihood of a recession occurring in 2025 to 40%. Puckrin stated that a recession and the current macroeconomic uncertainty could put pressure on high-risk assets like Bitcoin.
Daily view of cryptocurrency market data. Source: Coin360
However, not everyone is pessimistic about Bitcoin's short-term outlook. Analyst Stockmoney Lizards posted on X that Bitcoin's short-term bottom may be between $82,000 and $80,000. The analyst expects Bitcoin to start reversing next week.
If Bitcoin begins to recover, some altcoins may rise. Let's take a look at several major cryptocurrencies that show bullish trends in their charts.
Bitcoin Price Analysis
Bitcoin's failure to break through the resistance line may have triggered selling from traders. Bears will attempt to pull the price toward the critical $80,000 support level.
BTC/USDT Daily Chart. Source: Cointelegraph/TradingView
The 20-day exponential moving average (EMA) ($85,253) is flattening, and the relative strength index (RSI) is just below the midpoint, slightly favoring the bears. If the $80,000 support level breaks, the BTC/USDT trading pair could plummet to $76,606.
On the other hand, if the price rebounds from the current level or $80,000, it would help break the resistance line and improve the prospects for a rebound. If this occurs, it would indicate that the correction phase may be over. The trading pair could rebound to $95,000 and then further rise to $100,000.
BTC/USDT 4-Hour Chart. Source: Cointelegraph/TradingView
On the 4-hour chart, the 20-day EMA has turned downward, and the RSI is in the negative range, indicating that bears are in control. If the price drops from the current level, the trading pair may slide to $80,000 and then further down to $78,000.
Buyers need to push the price higher and maintain it above the 20-EMA to show strength. If successful, the trading pair could rise to the resistance line, which is a key resistance level. Bullish momentum is expected to begin after breaking above $89,000.
Toncoin Price Analysis
(TON rebounded from the moving average on March 30, indicating a positive market sentiment.)
TON/USDT Daily Chart. Source: Cointelegraph/TradingView
The rising 20-day EMA ($3.58) and the RSI in the positive range indicate that buyers are in control. Bulls will attempt to solidify their position by pushing the price above $4.14. If successful, the TON/USDT trading pair may begin a new upward trend, targeting $5, and potentially rising to $5.65 thereafter.
Sellers need to pull the price below the $3.30 support level to regain control. This move would indicate that bears are still selling during the rebound. The price could plummet to $2.81 and eventually drop to $2.64.
TON/USDT 4-Hour Chart. Source: Cointelegraph/TradingView
The trading pair has rebounded from the ascending trend line, indicating that bulls view the pullback as a buying opportunity. The trading pair may reach the upper resistance level of $4.14, where bears are expected to intervene. However, if buyers break through this resistance, the price may begin the next round of upward movement, targeting $5. If bears push the price down and maintain it below the ascending trend line, they will regain control. At that point, the trading pair may drop to $3.28.
Cronos (CRO) broke above the moving average on March 24, signaling that the downtrend may have ended.
CRO/USDT Daily Chart. Source: Cointelegraph/TradingView
The CRO/USDT trading pair faces selling pressure near $0.12, but a positive sign for bulls is that buyers have not allowed the price to stay below the $0.10 support level. This indicates that buyers are working to form higher lows. If bulls push the price above $0.12, the trading pair may head towards $0.14.
However, bears may have other plans. They will attempt to push the price below the moving average and trap aggressive bulls.
CRO/USDT 4-Hour Chart. Source: Cointelegraph/TradingView
The trading pair is consolidating between $0.10 and $0.12, indicating a divergence between bulls and bears. The 20-day EMA is gradually rising, and the RSI is slightly above the midpoint, giving bulls a slight advantage. If the price breaks and closes above $0.11, the likelihood of breaking $0.12 will significantly increase.
If bears push the price below the 50-day simple moving average (SMA) and maintain that level, they will regain control. This could pull the trading pair down to $0.08.
MNT has failed to break above the 50-day SMA ($0.84) in recent days, but a positive sign is that bulls are working to keep the price above the 20-day EMA ($0.80).
MNT/USDT Daily Chart. Source: Cointelegraph/TradingView
If the price rebounds from the 20-day EMA and momentum is strong, it will suggest a shift in market sentiment from "selling on the rebound" to "buying on the dip." This would increase the likelihood of breaking above the 50-day SMA. If successful, the MNT/USDT trading pair may rise to $0.94 and then to $1.06.
Conversely, if the price continues to decline and falls below $0.77, the short-term advantage will shift to the bears. At that point, the trading pair may drop to $0.72, delaying the start of the upward movement.
MNT/USDT 4-Hour Chart. Source: Cointelegraph/TradingView
The 4-hour chart shows that the price is facing strong resistance at $0.85. The trading pair may pull back to $0.77, which is a key support level. If the price rebounds from $0.77, it will indicate that bulls are buying on the dip. This could lead the trading pair to oscillate between $0.77 and $0.85 for a while. If it breaks and closes above $0.85, it may push the price up to $0.95.
Bears will need to pull the price below $0.77 to gain the upper hand. At that point, the trading pair may drop to $0.69.
RNDR has been in a strong downtrend for the past few weeks, but bulls pushed the price above the 50-day SMA ($3.77) on March 25, indicating demand at lower price levels.
RNDR/USDT Daily Chart. Source: Cointelegraph/TradingView
Bears have pulled the price down to the 20-day EMA ($3.57), which is an important support level to watch. If the price rebounds from the 20-day EMA and shows strong upward movement, bulls will attempt to push the RNDR/USDT trading pair up to $5, and then potentially to $6.20.
If the price continues to decline and closes below $3.05, this positive outlook will be invalidated in the short term. This indicates aggressive selling at higher levels. The trading pair may drop to $2.83 and further down to $2.52.
RNDR/USDT 4-Hour Chart. Source: Cointelegraph/TradingView
The 20-day EMA has turned downward, and on the 4-hour chart, the RSI is in the negative range, indicating that bears are in control. If the price breaks and closes below the ascending trend line, it will further strengthen the bears' position, pulling the trading pair down to $3.
The first sign of strength will be a break and close above the moving average. This will open the door for a rebound to $4. If the trading pair closes above $4.20, completing a bullish head and shoulders pattern, the upward momentum may accelerate.
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This article does not contain investment opinions or advice. Every investment and trading decision carries risks, and readers should conduct their own research before making decisions.
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