Key points:
– Buyers aggressively bought the dip in Bitcoin, indicating positive sentiment and raising the possibility of a rally to $84,000.
– Several major altcoins have pulled back to support levels, showing bears are selling on rallies.
Bitcoin (BTC) corrected over the weekend but found buyers at lower levels, signaling constructive sentiment. According to SoSoValue, US spot Bitcoin exchange-traded funds recorded $996 million in inflows last week, the best weekly performance since early January.
Geopolitical risk remains a potential headwind: the recovery could be threatened if the US and Iran do not secure a deal before the current two-week ceasefire ends or if it is not extended. Mosaic Asset Company warned that renewed hostilities could unwind recent bullish action.
Despite short-term uncertainty, Michael Saylor’s Strategy added 34,164 BTC between April 13 and April 19 for $2.54 billion, per an SEC 8-K filing, bringing its total holdings to 815,061 BTC acquired for $61.56 billion.
S&P 500 Index
The S&P 500 rallied to a new all-time high of 7,147 last Friday. The sharp advance pushed the RSI into overbought territory, suggesting a risk of short-term consolidation or pullback. Initial support lies at the breakout level of 7,002, then the 20-day EMA near 6,828. A rebound off the 20-day EMA would keep the uptrend intact; sellers need to push the index below the moving averages to signal a comeback.
US Dollar Index (DXY)
The US Dollar turned down from the 20-day EMA (98.73) on April 13 and dropped to 97.74. The index is attempting a relief rally but is likely to encounter resistance at the 20-day EMA. A renewed decline from that level raises the chance of a break below 97.74 toward 96.21. DXY is expected to remain range-bound between 95.55 and 100.54 until a decisive close outside that band sets the next trend.
Bitcoin price outlook
BTC bounced off the 20-day EMA (~$72,832), suggesting buyers view dips as buying opportunities. Bears are likely to defend the $76,000–$78,333 zone; a rejection there followed by a break below the moving averages would imply the breakout failed. Conversely, a break and close above that overhead zone would resume the uptrend, possibly driving BTC toward $84,000 and a longer-term pattern target near $92,000.
Ether (ETH)
Buyers tried to push ETH above $2,415 but failed, leading to a pullback to the 20-day EMA (~$2,252). Bulls must defend the 20-day EMA and secure a close above $2,415 to resume the relief rally toward $2,800. If sellers push ETH below the moving averages, the pair could remain confined to $1,916–$2,415 for some time.
BNB
BNB is oscillating between $570 and $687, reflecting a balance between supply and demand. Flat moving averages and a neutral RSI leave no clear edge. A break above $650 could see $687 tested; a break below the 20-day EMA may send BNB toward $570. A decisive trend requires a close above $687 or below $570.
XRP
XRP has consolidated between $1.27 support and $1.61 resistance. Neutral indicators suggest more range-bound action ahead. A close above the downtrend line would hint at a trend change and could push XRP toward $2. A break and close below $1.27 would put bears back in control, with support at $1.11 and further downside toward the descending channel’s support line possible.
Solana (SOL)
SOL slipped below its moving averages on Sunday, showing higher levels are attracting sellers. With flat averages and RSI near the midpoint, range-bound trading may continue. If SOL stays below the moving averages, bears could aim for the $76 support. Bulls need a move above $90 to open a path to $98, and a close above $98 would suggest a sustained recovery toward $117.
Dogecoin (DOGE)
DOGE turned down from the $0.10 psychological level and moved toward the moving averages. Neutral indicators offer no clear advantage. A break below the moving averages could test $0.09 and open the way to $0.08 and $0.06. To show strength, DOGE must reclaim and hold above $0.10, which could target $0.12 where selling pressure may reappear.
Hyperliquid (HYPE)
HYPE fell back below the breakout level of $43.76 after several days above it. Bulls are trying to halt the pullback at the 20-day EMA (~$41.03), but sustained selling could send HYPE to the 50-day SMA (~$38.09) and then toward $34.45. A bounce off the 20-day EMA would encourage buyers to push HYPE above $45.77 and potentially toward the $50–$51.43 zone.
Cardano (ADA)
ADA rose above its 50-day SMA (~$0.26) on Friday but could not hold gains and fell below $0.25. Sellers may try to drive ADA below $0.23; failure there could resume declines to $0.22 and the descending channel’s support line. A break above the downtrend line would indicate a possible short-term trend change and could lift ADA toward $0.32 and then $0.37.
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