Connect with us
DAPA Banner

Crypto World

Bitcoin Price Faces $75,000 Barrier, Eyes $85,000 Target

Published

on

Bitcoin Price Faces $75,000 Barrier, Eyes $85,000 Target

TLDR

  • Bitcoin climbed to $76,100 but failed to close above the $75,000 resistance level.
  • The asset ended the session at $74,164 after sellers defended the key supply zone.
  • Bitcoin rebounded 15.8% from $65,692 earlier this month before pulling back.
  • The $72,000 level continues to act as short-term support for the current range.
  • The 50-day moving average at $69,680 could provide support if the price declines.

Bitcoin price faced renewed selling pressure near $75,000 after another failed breakout attempt. The asset reached $76,100 on Tuesday but closed below resistance. Despite the pullback, technical indicators still show room for further upside.

Bitcoin Price Tests $75,000 Resistance Again

Bitcoin (BTC) climbed to $76,100 on Tuesday, marking its highest level since early February. However, sellers pushed the price down before the daily close. The asset ended the session at $74,164 after failing to hold above $75,000.

Earlier this month, Bitcoin rebounded from $65,692 and gained 15.8% to reach the recent peak. It has since retained about 8.45% of that advance. On March 17, Bitcoin also touched $76,000 but fell back to $73,920 after facing strong supply.

The repeated rejection at $75,000 confirms the level as firm resistance. Sellers continue to defend the zone, which limits upward movement. Bitcoin trades at $74,036 at the time of writing.

The price also encountered the 100-day simple moving average near the resistance zone. This moving average stands at $94,935 and adds technical pressure. As a result, bulls failed to secure a daily close above the barrier.

Advertisement

Failure to break resistance increases the risk of a decline toward $68,000 and $65,000. The 50-day moving average at $69,680 could provide support if the price drops. Market structure remains dependent on holding key levels.

Bitcoin Price Holds $72,000 Support as Indicators Stay Positive

Bitcoin price continues to hold the $72,000 micro support level identified by analyst Michael van de Poppe. He stated, “Holding $72,000 opens the path toward a new breakout.” The level now acts as a short-term foundation.

Van de Poppe projected a move toward $80,000 to $85,000 if Bitcoin closes above $75,000 with strong volume. He said the move could occur before the end of April. Such a rally would return Bitcoin to levels last seen in late January.

The daily Relative Strength Index stands at 60.74, which signals room before overbought conditions above 75. The reading reflects steady momentum without extreme conditions. Buyers still maintain control under current levels.

The Moving Average Convergence Divergence also supports bullish momentum. The MACD line reads 1,201.91 and remains above the signal line at 590.84. Green histogram bars continue to expand on the daily chart.

Advertisement

Bitcoin must secure a decisive close above $75,000 to confirm renewed upward momentum. Until then, the price remains within a defined range. Current data shows Bitcoin trading at $74,036.

Source link

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Crypto World

Bitcoin Trend Reversal May Confirm If BTC Closes Above $76K

Published

on

Bitcoin Trend Reversal May Confirm If BTC Closes Above $76K

Key points:

  • Bitcoin’s shallow pullback from the $76,000 resistance suggests that buyers are holding onto their positions, expecting the recovery to continue.

  • Select major altcoins are showing strength and are expected to break above their overhead resistance levels.

Bitcoin (BTC) pulled back after crossing the $76,000 level on Tuesday, but a positive sign is that bulls have not let the price dip below $73,500. That suggests the bulls are holding their positions as they expect the overhead resistance to be broken.

Another encouraging indication for the bulls is that BTC’s move toward $76,000 has been supported by $411.5 million in inflows into US spot BTC exchange-traded funds on Tuesday, according to SoSoValue data. That pushes the total net flows for 2026 into the positive territory at roughly $245 million.

Crypto market data daily view. Source: TradingView

While some analysts believe the bottom has been reached at $60,000, others remain skeptical. They anticipate BTC to collapse below $60,000 to as low as $50,000 before finally bottoming out.

Trend reversals could be tricky, but traders should be nimble when they spot one. Maintaining a negative view when the charts are screaming bullish is a recipe for disaster. 

Advertisement

Could BTC and select major altcoins break above their overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC turned up from the 20-day exponential moving average ($71,116) on Monday and reached the $76,000 resistance on Tuesday.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

Sellers are expected to protect the $76,000 level with all their might, as a close above it will complete a bullish ascending triangle pattern. That clears the path for a rally to the $84,000 level.

Conversely, any pullback is expected to find support at the 20-day EMA. If the BTC price rebounds off the 20-day EMA with force, it suggests a positive sentiment. That enhances the prospects of a break above the $76,000 resistance. Sellers will be back in control on a close below the support line of the triangle.

Ether price prediction

Ether (ETH) is facing resistance at $2,415, but a positive sign is that the bulls have not ceded much ground to the bears.

Advertisement
ETH/USDT daily chart. Source: Cointelegraph/TradingView

The prospects of a break above the $2,415 level increase if the ETH price turns up from the current level or the 20-day EMA ($2,198). The ETH/USDT pair may then surge to $2,800 and then to $3,050.

Sellers have an uphill task ahead of them. They will have to quickly pull the price below the moving averages to weaken the bullish momentum. The pair may then decline to the $1,916 support.

XRP price prediction

Buyers are struggling to drive XRP (XRP) above the 50-day simple moving average ($1.37), indicating that the bears are active at higher levels.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

If the price turns down and dips below the 20-day EMA ($1.35), it may signal that the XRP/USDT pair consolidates between the 50-day SMA and $1.27 support for a few days. A break and close below the $1.27 level tilts the advantage in favor of the bears. 

Contrarily, a close above the 50-day SMA signals the start of a sustained recovery toward the downtrend line of the descending channel pattern. Buyers will be back in the driver’s seat on a close above the downtrend line.

BNB price prediction

BNB (BNB) reached the 50-day SMA ($626) on Tuesday, where the bears are posing a strong challenge. 

Advertisement
BNB/USDT daily chart. Source: Cointelegraph/TradingView

If bulls do not give up much ground from the current level, the possibility of a break above the 50-day SMA increases. The BNB/USDT pair may then rally to the $687 overhead resistance. Buyers will have to overcome the $687 barrier to clear the path for a rally to $730, then to $790.

On the downside, a close below the $570 support signals that the bears have seized control. The pair may then start the next leg of the downtrend toward $500.

Solana price prediction

Solana’s (SOL) failure to rise above the 50-day SMA ($85) suggests that the bears are fiercely guarding the level.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The flattish moving averages and the relative strength index (RSI) near the midpoint do not provide a clear advantage to either the bulls or the bears. That suggests the SOL/USDT pair may continue consolidating within the $76 to $98 range for a while.

The next trending move is expected to begin on a close above $98 or below $76. If the SOL price turns down and breaks below $76, it indicates an advantage to bears. The pair may then drop to $67. On the upside, a close above $98 opens the doors for a rally to $117.

Dogecoin price prediction

Dogecoin (DOGE) broke above the moving averages on Tuesday, but the long wick on the candlestick shows selling on rallies.

Advertisement
DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the price dips below the moving averages, the bears will attempt to sink the DOGE/USDT pair below the $0.09 support. If they succeed, the DOGE price may resume its downtrend toward $0.08 and then $0.06.

Instead, if the price moves above the 20-day EMA ($0.09) and breaks above $0.10, it suggests the bears are losing their grip. The pair may then rally to $0.11 and eventually to $0.12.

Hyperliquid price prediction

Hyperliquid (HYPE) is witnessing a tough battle between the bulls and the bears at the breakout level of $43.76.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

If the HYPE price rallies from the current level and breaks above $45.30, it suggests that the bulls have turned the $43.76 level into support. That increases the likelihood of a move to the $50 level.

Contrary to this assumption, if the price turns down and breaks below the 20-day EMA ($40), it suggests that the break above the $43.76 level may have been a bull trap. The HYPE/USDT pair may then plunge to the 50-day SMA ($36.77).

Related: Tom Lee says ‘mini crypto winter’ is over, sees Ether above $60K

Advertisement

Cardano price prediction

Cardano (ADA) has been swinging between the 50-day SMA ($0.26) and the $0.23 support for the past few days.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($0.25) has started to turn down gradually, and the RSI is in the negative zone, signaling a slight edge to the bears. If the price turns down and breaks below $0.23, the ADA/USDT pair may plummet toward the support line of the descending channel pattern. There is support at $0.22, but it is likely to be broken.

Buyers will have to propel the ADA price above the downtrend line to signal a potential trend change. The pair may then climb toward $0.36.

Bitcoin Cash price prediction

Buyers attempted to push Bitcoin Cash (BCH) above the 20-day EMA ($444), but the bears held their ground.

BCH/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will strive to strengthen their position by driving the BCH price below $419. If they manage to do that, the BCH/USDT pair may start a downward move toward the $375 level.

This bearish view will be negated in the short term if buyers drive the price above the moving averages. The pair may then rise to the $486 level, where the bears are again likely to pose a strong challenge. 

Advertisement

Chainlink price prediction

Chainlink (LINK) has been trading near the moving averages for the past few days, signaling a balance between supply and demand.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

The flattish moving averages and the RSI just above the midpoint suggest that the LINK/USDT pair may remain inside the $8 to $10 range for some more time.

The first sign of strength will be a break and close above the $10 resistance. That opens the doors for a rally to $10.94 and later to $11.61. Sellers are expected to defend the $11.61 level, as a close above it indicates that the bulls are back in the game. The bears will have to yank the LINK price below the $8 level to gain the upper hand.