Bulls Aim To Regain Control Of Bitcoin, Altcoins: Are Charts Bullish?

Bitcoin (BTC) continues to face significant resistance at the $72,000 level, but the bulls have kept up the pressure. Trader Daan Crypto Trades said in a post on X that BTC will have to cross and stay above the $72,000 resistance area to “test the $80Ks again.”

Markets tend to hate uncertainty, but BTC’s resilience since the start of the US and Israel-Iran war shows that traders are not keen to sell at lower levels. CryptoQuant analyst Darkfost said in a post on X that March has mostly recorded BTC outflows from crypto exchanges. Although the demand is not sufficient to start a new uptrend, it does signal accumulation by investors.

One of the reasons for accumulation could be that investors believe BTC is in value territory. Capriole Investments founder Charles Edwards said in a post on X that BTC is in deep value when the BTC Yardstick metric is considered. In February, the Yardstick numbers fell below the 2022 bear market low reading.

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

Bitcoin price prediction

BTC continues to trade inside a bullish ascending triangle pattern, a sign that buyers are attempting a comeback.

The flattish 20-day exponential moving average ($70,303) and the relative strength index (RSI) near the midpoint do not give a clear advantage either to the bulls or the bears. Buyers will have to drive and maintain the BTC price above the $74,508 resistance to complete the ascending triangle. If they manage to do that, the BTC/USDT pair may rally to $84,000.

This positive view will be negated in the near term if the price turns down and breaks below the support line. That signals the bulls have given up. The pair may then plummet to the $62,500 to $60,000 support zone.

Ether price prediction

Ether (ETH) bounced off the 50-day simple moving average ($2,042) on Monday, indicating a positive sentiment.

The flattish 20-day EMA ($2,121) and the RSI near the midpoint suggest a balance between supply and demand. Buyers will have to push the price above the $2,400 level to indicate the start of a new up move. The ETH/USDT pair may rally to $2,600 and later to $3,050.

Instead, if the ETH price turns down and breaks below the 50-day SMA, it signals that the market has rejected the break above the $2,111 level. That may pull the pair to $1,900 and subsequently to the $1,750 level.

BNB price prediction

Buyers are attempting to maintain BNB (BNB) above the 20-day EMA ($643), but the bears are posing a strong challenge.

The flattish 20-day EMA and the RSI just below the midpoint suggest that the BNB/USDT pair may remain inside the $570 to $687 range for a few more days. The longer the price remains inside a range, the stronger the eventual breakout from it.

If buyers drive the BNB price above $687, the pair may surge to $730 and later to $790. Contrarily, if the price turns down and breaks below $600, it suggests that the bears have a slight edge. The pair may then slump to $570.

XRP price prediction

Sellers are attempting to maintain XRP (XRP) below the moving averages, but the bulls continue to exert pressure.

If the XRP price breaks and sustains above the moving averages, the rally may reach the breakdown level of $1.61 and then to the downtrend line. Sellers are expected to fiercely defend the downtrend line, as a close above it signals a potential trend change.

On the other hand, if the price turns down and breaks below $1.27, it suggests that the bears remain in control. The XRP/USDT pair may then slump to the support line of the channel, where buyers are expected to step in.

Solana price prediction

Solana (SOL) has been trading between the 50-day SMA ($86) and the overhead resistance of $95 for the past few days.

The gradually upsloping 20-day EMA ($89) and the RSI just above the midpoint suggest a slight edge to the buyers. If bulls clear the overhead barrier at $95, the SOL/USDT pair may soar to $117.

On the downside, sellers will have to pull the SOL price below the 50-day SMA to get back into the game. If they do that, the pair may slump toward the bottom of the $76 to $95 range. A solid bounce off the $76 level may extend the stay inside the range for some more time.

Dogecoin price prediction

Dogecoin (DOGE) bounced off the $0.09 support on Monday, but the bulls are struggling to push the price above the moving averages.

If the DOGE price turns down sharply from the moving averages, the possibility of a break below the $0.09 level increases. The DOGE/USDT pair may then tumble to the next support at $0.06.

Alternatively, a close above the moving averages shows solid buying at the $0.09 level. The pair may then rise to $0.10 and later to $0.12, which is expected to pose a substantial challenge for the bulls.

Hyperliquid price prediction

Hyperliquid (HYPE) rebounded off the breakout level of $36.77 on Tuesday, indicating that the bulls are attempting to flip the level into support.

The upsloping moving averages and the RSI in the positive territory indicate that the bulls have the upper hand. If buyers drive the HYPE price above the $43.77 level, the next stop is likely to be $50.

This positive view will be invalidated in the near term if the price turns down and breaks below the $36.77 level. That suggests the market has rejected the breakout. The HYPE/USDT pair may then tumble to the 50-day SMA ($33.16).

Related: Here’s what happened in crypto today

Cardano price prediction

Cardano (ADA) remains stuck inside the descending channel pattern, but the bulls are attempting to form a base near $0.25.

A close above the moving averages opens the doors for a rally to the downtrend line. Sellers are expected to aggressively defend the downtrend line as a close above it signals a potential trend change. The ADA/USDT pair may ascend to $0.39 and thereafter to $0.44.

Conversely, if the ADA price turns down sharply from the downtrend line and breaks below the moving averages, it shows that the bears remain sellers on rallies. That increases the likelihood of a decline below the $0.25 level. The pair may then plunge toward the support line.

Bitcoin Cash price prediction

Bitcoin Cash (BCH) closed above the 20-day EMA ($470) on Monday, but the bulls are struggling to push the price to the 50-day SMA ($492). 

That shows the bears are active at higher levels. The sellers will attempt to strengthen their position by pulling the BCH price below the 20-day EMA. If they can pull it off, the BCH/USDT pair may drop to the $443 level. This is a critical level for the bulls to defend, as a close below $443 will complete a bearish head-and-shoulders pattern. The next support on the downside is at $375.

On the upside, if buyers thrust the price above the 50-day SMA, it suggests the start of a stronger relief rally to $520.

Chainlink price prediction

Chainlink (LINK) has been gradually rising inside an ascending channel pattern, indicating a series of higher lows in the short term.

The bulls will attempt to push the LINK price to the resistance line of the channel, where the bears are expected to mount a strong defense. If the price turns down sharply from the resistance line, the LINK/USDT pair may remain inside the channel for a few more days.

However, if buyers propel the price above the resistance line, it signals the start of a stronger recovery. The $11.61 level may act as an obstacle, but if the bulls overcome it, the rally may reach the $14.98 level.