Bulls in the Bitcoin (BTC) market are making efforts to return by holding the price above the 200-day simple moving average ($84,899) throughout the weekend. Ryan Lee, the chief analyst at Bitget Research, informed Cointelegraph that for Bitcoin to demonstrate strength and avoid a dip to $76,000, it must close above $85,000 this week. Lee emphasized that a close above $87,000 would provide a more distinct bullish signal.
Recent tariff wars have impacted both traditional and cryptocurrency markets in the past few days. Nansen research analyst Nicolai Sondergaard suggested to Cointelegraph’s Chainreaction daily X show that the markets might stay under pressure until April 2. He noted that if tariffs are lifted, it could be “the biggest driver at this moment.”
Daily view of crypto market data. Source: Coin360
While analysts are optimistic about the long-term outlook, some foresee a short-term downturn. Market analyst and author Timothy Peterson analyzed past bear market trends, revealing in a post on X that the current bear market may only last 90 days. He expects a decline in the “next 30 days followed by a 20-40% rally after April 15th.”
If Bitcoin begins a sustained recovery, various altcoins may follow suit. Which cryptocurrencies show strength on the charts?
Bitcoin Price Analysis
Bitcoin is facing challenges in rising and maintaining its position above the 20-day exponential moving average ($85,246), but a positive sign is that the bulls haven’t significantly retreated against the bears.
BTC/USDT daily chart. Source: Cointelegraph/TradingView
This increases the likelihood of a breakout above the 20-day EMA. If successful, the BTC/USDT pair could rise to the 50-day SMA ($90,469) and then to $95,000.
On the other hand, if the price drops from the 20-day EMA and falls below $81,000, it indicates a loss of bullish momentum, potentially triggering a decline to $80,000 and subsequently $76,606. Buyers are expected to defend the $76,606 level since a breakdown could lead to a deeper correction. There is robust support at $73,777, but if breached, the next level could be $67,000.
BTC/USDT 4-hour chart. Source: Cointelegraph/TradingView
Both moving averages are relatively flat, but the relative strength index (RSI) has climbed into positive territory, indicating increasing bullish momentum. A close above $87,500 would be the first sign of strength, potentially paving the way for a rise to $92,500 and eventually $95,000.
The advantage would shift to the bears if there were a break and close below $80,000, which could pull the pair down to solid support at $76,606.
Toncoin Price Analysis
Toncoin (TON) retreated from the $4 level on March 20, but bulls have managed to keep the price above the moving averages.
TON/USDT daily chart. Source: Cointelegraph/TradingView
The moving averages are nearing a bullish crossover, and the RSI has entered the positive zone, enhancing the chances for a breakout above $4. If achieved, the TON/USDT pair could surge to $5.
This optimistic outlook could be invalidated if the price declines and breaks below the 20-day EMA ($3.39), which could drag the pair to $2.81 and then a solid support level at $2.73.
TON/USDT 4-hour chart. Source: Cointelegraph/TradingView
The pair is finding support at the 20-EMA on the 4-hour chart, suggesting that bulls are purchasing the dips. However, bears are expected to resist vigorously, defending the overhead zone of $3.80 to $4. If the price breaks and closes below $3.28, sellers may regain control, resulting in a drop to $2.90.
On the upside, a breakout and close above $4 would signal a buyer advantage. There is minor resistance at $4.14, but this is likely to be surpassed, leading the pair towards $4.67.
Avalanche Price Analysis
Avalanche (AVAX) has been experiencing a pronounced downtrend, but positive divergence on the RSI suggests the bearish momentum may be losing strength.
AVAX/USDT daily chart. Source: Cointelegraph/TradingView
The AVAX/USDT pair has been hovering around the 20-day EMA ($19.76), raising the prospects for a breakout. If this occurs, the pair may rise to the 50-day SMA ($22.41) and eventually reach the $25.12 to $27.23 resistance zone, indicating a potential end to the downtrend.
Conversely, if the price retreats from the 20-day EMA and falls below the $15.27 support, it could trigger a further decline to $11.
AVAX/USDT 4-hour chart. Source: Cointelegraph/TradingView
The pair has been consolidating within a narrow range between $20.10 and $18.12 on the 4-hour chart. The 20-EMA is attempting to rise, and the RSI remains in positive territory, providing a slight advantage to bulls. If the price breaks above $20.10, the pair may advance to $21.20 and then to $22.50.
Alternatively, if the price declines and breaks below $18.12, it would suggest that bears are reasserting control, which could lead to a drop to $16.95 and eventually $15.27.
Related: Why is Bitcoin’s price stagnant?
Near Protocol Price Analysis
Near Protocol (NEAR) has been in a strong downtrend but is beginning to show early signs of a reversal.
NEAR/USDT daily chart. Source: Cointelegraph/TradingView
The positive divergence on the RSI indicates that bears may be losing their control. A break and close above the 50-day SMA ($3.05) could bolster the bulls, paving the way for a rally to $3.65. Sellers are anticipated to defend the $3.65 level aggressively, but if buyers prevail, the NEAR/USDT pair could reach $5.
In contrast, if the price declines and drops below $2.48, it would suggest that bears still hold sway in the market, leading the pair to a solid support area at $2.14.
NEAR/USDT 4-hour chart. Source: Cointelegraph/TradingView
The 4-hour chart shows that the pair is trading above the 20-EMA, indicating that bulls remain in positions, looking forward to another upward movement. A break above $2.83 could initiate a rise towards $3.25. Sellers are expected to defend the $3.25 level, but a breakthrough by bulls could lead to the next target of $3.65.
This positive outlook will be challenged if the price falls and breaks below the moving averages. The pair may then decline to $2.48, followed by $2.34.
OKB Price Analysis
OKB (OKB) has been trading within a descending channel pattern, showcasing buying near the support line and selling near the resistance line.
OKB/USDT daily chart. Source: Cointelegraph/TradingView
After breaking out of the 20-day EMA ($48.39) on March 14, the OKB/USDT pair gained momentum. Currently, it is encountering selling pressure near $54, potentially dragging the price back down to the 20-day EMA. A shallow pullback suggests that bulls are maintaining their positions, enhancing the potential for a rally towards the resistance line.
Contrarily, if the price continues to decline and breaks below the 50-day SMA ($47.56), it would indicate that bears remain active at elevated levels. The pair could then fall to $45.
OKB/USDT 4-hour chart. Source: Cointelegraph/TradingView
Sellers are attempting to push the price below the 50-SMA on the 4-hour chart. A successful attempt may weaken bullish momentum. There is support at $48, but if this level breaks, the pair could drop to $45.
On the other hand, a robust rebound off the 50-SMA implies that sentiment remains positive, indicating bulls are buying on dips. A sustained uptrend could start above $54, unlocking the potential for a rally to the resistance line.
This article does not provide investment advice or recommendations. Every investment and trading move entails risk, and readers are encouraged to conduct their own research before making decisions.
