Bitcoin, Altcoins Split in Strength: Are New Highs Next?

Key Points:-

Bitcoin will need to break the $80,000 level to its support to continue its move towards $84,000. Several major altcoins are finding buyers at the lower levels, but will need to overcome overhead resistance to initiate a new move.

Bitcoin (BTC) raised over $78,000. Extending on the 11.87% rally In April, according to CoinGlass data. The recovery in April was supported by strong buying in US spot BTC exchange-traded funds. 1.97 billion dollars in revenueAccording to SoSoValue data.

The lineup is expected to trade between the real market average of $78,000 and the short-term holding (STH) price of $79,000. They are analysts. It will closely monitor the $80,000 levelA reversal to support is needed to ensure bulls are contained.

Daily View of Crypto Market Data. Source: Trading view

CryptoQuant does not believe that the BTC rally can be extended further. In a recent report, a crypto analytics firm said this. In the month of April, the movement of BTC was triggered Primarily by futures traders, spot demand contracts are offered. This suggests that “the market margin buyer was speculative, not fundamental.” CryptoQuant warned in an X-post that the actual setup was “down the next leg” in 2022.

Can BTC and major altcoins break above their resistance levels? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC recovered from the 20-day moving average ($75,814) on Thursday, which indicates buying on the dips.

BTC/USDT Daily Chart. Source: Cointelegraph/Trading view

The support rally is expected to wait for selling pressure at $79,500, but if buyers pierce the resistance above, the maximum speed will increase, and the BTC / USDT pair may increase to $84,000.

The 20-day EMA is a crucial support to watch out for on the downside. If BTC price breaks below the current level or above resistance and breaks below the 20-day EMA, it may begin a deep correction towards the 50-day simple moving average ($72,362) and then the support line.

Ether price prediction

ether (ETH) is finding support near the 50-day SMA ($2,207), which indicates that the bulls see it as a buying opportunity.

ETH/USDT Daily Chart. Source: Cointelegraph/TradingView

The flat 20-day EMA and Relative Strength Index (RSI) suggest momentum above the midpoint is weak. If the price of ETH breaks below the 50-day SMA, the next stop may be the support line.

Instead, if the price continues above the 20-day EMA, the bulls will try to drive the ETH/USDT pair to $2,465 and then to the upper channel resistance. The next trend move is expected to start either above the resistance line or close below the support line. Until then, the pair may remain in the channel.

XRP price prediction

XRP (XRP) remains stuck in the $1.27 to $1.61 range, indicating buying on dips and selling on rallies.

XRP/USDT Daily Chart. Source: Cointelegraph/TradingView

The 20-day EMA ($1.39) has started to slowly decline, and the RSI is close to its midpoint, indicating a slight edge to the bears. If the price of XRP continues below the moving averages, the possibility of a drop to the $1.27 support increases.

Buyers may have other plans. They try to keep the price above the moving averages. If they succeed, the XRP/USDT pair may rally to the descending line of the descending channel pattern, then to the $1.61 resistance. A trend reversal above the $1.61 level would be signaled in the near term.

BNB price prediction

BNBBNB) slipped below the moving average on Tuesday, but the bears were unable to build on their gains. This indicates the need for low levels.

BNB/USDT Daily Chart. Source: Cointelegraph/TradingView

The bulls are trying to push the price of BNB above the moving averages. If they manage to do that, the BNB/USDT pair could rise above resistance at $654 and then $687.

On the other hand, if the price breaks below $610, it shows that the sellers are in control. The pair is likely to fall to the $570 support, where buyers are expected to enter.

Solana price forecast

Buyers are trying to protect Solana (SOL) above the $82.65 level, but the bears will continue the pressure.

SOL/USDT Daily Chart. Source: Cointelegraph/TradingView

If the $82.65 level is broken, the SOL/USDT pair may drop to $76. Buyers are expected to defend the $76 level with all their might, because a close proximity to the bottom may start the next downward journey to $67.

On the contrary, if the price of SOL rises above the moving averages, it suggests that the pair may remain in the range of $82.65 to $90.73 for some time. The $98 upside resistance above $90.73 opens the door to a retest.

Dogecoin price prediction

Dogecoin (Doug) is showing strength, as bulls prevented it from falling below the $0.10 level on Thursday.

DOGE/USDT Daily Chart. Source: Cointelegraph/TradingView

That adds resistance above $0.12 with a rally expected to mount strong resistance. If the price turns sharply lower and breaks below the moving averages, it suggests that the DOGE/USDT pair may remain in the $0.09 to $0.12 range for some time.

Alternatively, if the buyers overcome the barrier of $0.12, it suggests that the pair may be down in the near term. The price of DOGE may rise to $0.14 and later to $0.16.

High Liquidity Price Prediction

high fluid (Hype) fell below the 50-day SMA ($39.84) on Thursday, but the long tail on the candlestick indicates buying at lower levels.

HYPE/USDT Daily Chart. Source: Cointelegraph/TradingView

The bulls are trying to push the HYPE price above the 20-day EMA ($40.85). If they manage to do that, the HYPE/USDT pair could rally to the upper resistance zone of $43.76-$45.77. A close above the zone clears the way for a rally to $50.

Contrary to this assumption, if the price declines and breaks below $38.70, it indicates that the bears will sell in rallies. That could initiate a deep pullback to $37.77 and $34.45.

Related: Was Dogecoin down first? The price of DOGE is set for a 20% gain when the whales return.

Cardano price prediction

Cardano (ADA) is attached to the moving averages, which indicates that the bulls have continued the pressure.

ADA/USDT Daily Chart. Source: Cointelegraph/TradingView

This improves the break-even point above the lower line. If that happens, the ADA/USDT pair could rise to $0.32 and later to $0.37, indicating a possible short-term trend reversal.

If the price of ADA declines significantly and breaks below $0.22, this bullish view will become invalid in the near term. Such a move suggests that the pair may remain in a descending channel for a few days.

Bitcoin Cash price prediction

Bitcoin Cash (B.C.H) rebounded to $443, indicating that the bulls are aggressively defending the level.

BCH/USDT Daily Chart. Source: Cointelegraph/TradingView

There is minor resistance at the 50-day SMA ($453), but it may be crossed. The BCH/USDT pair may rise to $486, at which point bears are expected to sell heavily. However, if buyers overcome the barrier, the pair could rally to $520.

Contrary to this assumption, if the price of BCH falls significantly below $486 and breaks below the moving average, it suggests that bears will continue to sell in rallies. That would keep the pair between $419 and $486 for the time being.

Monero price prediction

Monero (XMR) rose above the 20-day EMA ($366) on Wednesday, indicating positive sentiment.

XMR/USDT Daily Chart. Source: Cointelegraph/TradingView

The upward 20-day EMA and RSI indicate that the path is up with minimal resistance in positive territory. If buyers push and hold the price of XMR above the $406 resistance, the rally could reach the $500 level.

Conversely, if the price breaks well below the overhead resistance and breaks below the moving average, it suggests that the XMR/USDT pair may remain in the range between $302 and $406 for some time.