Key points:
-
Bitcoin booked a 10% gain in the past week and technical
indicators remain bullish going into a new week. -
Analysts expect Bitcoin to gain an additional 40% by the end of
the year -
Select altcoins are showing a positive bias on improving crypto
sentiment.
Bitcoin (BTC) rose more than 10% this week as
buyers made a strong comeback, pushing the price to the overhead
resistance at $95,000. Although buyers are struggling to clear the
overhead hurdle, a positive sign is that they have not given up
much ground to the bears.
The sharp up move is backed by solid buying in the US spot
Bitcoin exchange-traded funds (ETFs), which witnessed
inflows of $3.06
billion, according to Farside Investors data. Bloomberg ETF
analyst Eric Balchunas said in a post on X that it was really
notable to see “HOW FAST the flows can go from 1st gear to 5th
gear.”
Coin360
After Bitcoin’s recovery, 21st Capital co-founder Sina said in a
post on X that Bitcoin reclaimed the power-law price. Sina’s
Bitcoin Quantile Model projects Bitcoin to reach
between $130,000 and $163,000 before the end of 2025. Anonymous
Bitcoin analyst apsk32 had an even bigger target of more than
$200,000 for Bitcoin in Q4 of this year.
Could Bitcoin maintain its momentum and rise above the overhead
resistance? Let’s study the charts of the cryptocurrencies that
look strong in the near term.
Bitcoin price prediction
Bitcoin has been witnessing a tough battle between the bulls and
the bears near the crucial $95,000 level.
daily chart. Source: Cointelegraph/TradingView
The upsloping 20-day exponential moving average ($88,619) and
the relative strength index (RSI) near the overbought zone indicate
that bulls are in command. A close above $95,000 could propel the
BTC/USDT pair to $100,000 and eventually to $107,000. Sellers are
expected to aggressively defend the zone between $107,000 and
$109,588.
The 20-day EMA is the critical near-term support to watch out
for because a break below it brings the large $95,000 to $73,777
range into play.
4-hour chart. Source: Cointelegraph/TradingView
The 4-hour chart shows the bears are fiercely defending the
$95,000 level but are struggling to sink the pair below the 20-EMA.
If the price rebounds off the 20-EMA, it enhances the prospects of
a break above $95,000. The pair could then surge to $100,000.
Instead, if the price maintains below the 20-EMA, the pair could
tumble to the 50-simple moving average. This is an important level
for the bulls to defend because a break below it could pull the
pair to $86,000.
Sui price prediction
Sui (SUI) has been facing resistance
near $3.90, but the shallow pullback suggests that the bulls are in
no hurry to dump their positions.
daily chart. Source: Cointelegraph/TradingView
If the price stays above the 38.2% Fibonacci retracement level
of $3.14, the bulls will make another attempt to shove the SUI/USDT
pair above $3.90. If they can pull it off, the pair may skyrocket
to $4.25 and then to $5.
Contrary to this assumption, if the price turns down and breaks
below $3.14, it signals the start of a deeper correction toward the
50% retracement level of $2.94. Buyers are expected to fiercely
defend the zone between $2.94 and the 20-day EMA ($2.69).
4-hour chart. Source: Cointelegraph/TradingView
The 4-hour chart shows that the pair is finding support at the
20-EMA, but the sellers are active at higher levels. The bears will
again attempt to sink the pair below the 20-EMA. If they succeed,
the pair could slump to $3.14.
Buyers will have to swiftly push the price above the $3.81 to
$3.90 overhead resistance zone if they want to retain the
advantage. If they do that, the pair could start the next leg of
the up move to $4.25.
Avalanche price prediction
Avalanche (AVAX) has been
range-bound between $23.50 and $15.27 for the past few days. In a
range, traders usually buy near the support and sell close to the
resistance.
daily chart. Source: Cointelegraph/TradingView
Although buyers have failed to push the price above $23.50, a
positive sign is that they have not ceded much ground to the bears.
That increases the likelihood of a break above $23.50. If that
happens, the AVAX/USDT pair will complete a double-bottom pattern,
which has a target objective of $31.73.
This optimistic view will be negated in the near term if the
price turns down and breaks below the moving averages. The pair may
then remain stuck inside the range for a few more days.
4-hour chart. Source: Cointelegraph/TradingView
The pair has been consolidating in a narrow range between $21.60
and $23.10 for some time. That suggests the bulls are holding on to
their positions as they anticipate another leg higher. If buyers
propel the price above $23.10, the pair could surge to $25. There
is resistance at $23.50, but it is likely to be crossed.
Alternatively, a drop below $21.60 signals that the bulls have
given up. That may pull the price down to $19.50.
Related: Bitcoin trades at ‘40% discount’ as spot BTC ETF
buying soars to $3B in one week
Official Trump price prediction
Official Trump (TRUMP) surged above the $12.45 resistance on
April 23 and held the retest of the breakout level on April 24.
daily chart. Source: Cointelegraph/TradingView
A rally above $16 is attracting sellers, but a shallow pullback
suggests that every minor dip is being purchased. If buyers drive
the price above $16, the TRUMP/USDT pair may reach $17.69, where
the bears are expected to mount a strong defense. However, if
buyers bulldoze their way through, the pair could skyrocket to
$19.60 and then to $22.40.
Conversely, a deeper pullback suggests that the short-term bulls
are booking profits. The zone between $11.56 and $12.45 is expected
to act as a solid support. If the price rebounds off the
support zone, the pair may swing between $11.56 and $16 for some
time. Selling could accelerate if the pair breaks below the 20-day
EMA ($10.73).
4-hour chart. Source: Cointelegraph/TradingView
The pair turned down from $16 but is finding support near the
20-EMA on the 4-hour chart. That suggests the bulls are active at
lower levels. Buyers will try to push the price above the $16
overhead resistance, starting the next leg of the uptrend.
Contrarily, a break and close below the 20-EMA suggests that the
bullish momentum has weakened. The pair may then slump to $14 and
later to the solid support near $12. Sellers will be back in the
driver’s seat on a drop below $11.50.
Bittensor price prediction
Bittensor (TAO) broke and closed
above the downtrend line on April 20, suggesting that the bears are
losing their grip.
daily chart. Source: Cointelegraph/TradingView
The up move is facing resistance at $375, but the pullback is
expected to find support at the 20-day EMA ($298). A solid bounce
off the 20-day EMA signals a change in sentiment from selling on
rallies to buying on dips. The bulls will then attempt to drive the
TAO/USDT pair above $375. If they succeed, the next stop may be
$495.
Contrary to this assumption, if the price turns down and breaks
below the downtrend line, it will indicate that the markets have
rejected the breakout. The pair then risks falling to $222.
4-hour chart. Source: Cointelegraph/TradingView
The pullback is finding support at the 20-EMA on the 4-hour
chart. Buyers will try to resume the up move by pushing the price
above the $375 resistance. If they manage to do that, the pair
could reach $425.
Sellers are likely to have other plans. They will try to sink
the price below the 20-EMA, opening the doors for a drop to the
50-SMA and later to the downtrend line. A break below the downtrend
line tilts the advantage in favor of the bears.
This article does not
contain investment advice or recommendations. Every investment and
trading move involves risk, and readers should conduct their own
research when making a decision.
The post Bitcoin price chart looks set for $100K, SUI, AVAX,
TRUMP and TAO expected to follow appeared first on CoinTelegraph.
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