Bitcoin’s volatility increased on Friday, but the price remains stuck inside the large $100,000 to $111,980 range. Market participants are divided on Bitcoin’s next breakout. In a poll, crypto analyst Matthew Hyland asked whether Bitcoin would go to $94,000 or $114,000 and the results were nearly split evenly.
The social media comments on Bitcoin are also divided equally. According to crypto research platform Santiment, for every bearish comment on Bitcoin, there were just 1.03 bullish comments. The firm’s social media analysis found that Bitcoin’s sentiment from retail was the most bearish since the initial tariff reaction on April 6.
Santiment marketing director Brian Quinlivan said in a report that the retail fear was a promising sign as markets “historically move in the opposite direction of retail’s expectations.”
Institutional investor confidence also remains strong as the US-based spot Bitcoin exchange-traded funds have recorded eight consecutive days of inflows per Farside Investors’ data.
What are the vital support and resistance levels to watch out for in Bitcoin and the altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
Bitcoin rebounded off the 50-day simple moving average ($104,634) on Friday and rose above the 20-day exponential moving average ($105,590). However, the bulls could not sustain the higher levels as seen from the long wick on the candlestick.
The bears will attempt to seize control by keeping the price below the 50-day Simple Moving Average (SMA). If they manage to do that, the BTC/USDT pair could drop to the psychologically crucial level of $100,000. Buyers are expected to aggressively defend the $100,000 level because failing to do so may start a deeper correction toward $93,000.
On the upside, the bulls will have to maintain the price above the 20-day EMA to signal strength. The pair could then climb to the downtrend line. Sellers are expected to pose a solid challenge between the downtrend line and the all-time high of $111,980.
Ether price prediction
is getting squeezed between the 20-day EMA ($2,551) and the 50-day SMA ($2,466), indicating uncertainty between the buyers and sellers.
The flattish 20-day EMA and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price breaks above the 20-day EMA, the ETH/USDT pair could rise to $2,738 and later to $2,879.
Conversely, a break below the 50-day SMA opens the doors for a fall to the vital support at $2,323. Buyers are expected to defend the level with all their might because a break below $2,323 could sink the pair to $2,111.
XRP price prediction
Buyers are trying to push XRP
above the 20-day SMA ($2.20), but the bears have held their ground.
The 20-day EMA has started to turn down gradually, and the RSI is in the negative territory, indicating a slight advantage for the bears. The pair could drop to the $2 level, which is a crucial support to keep an eye on. If the $2 level cracks, the XRP/USDT pair could tumble to $1.61.
On the contrary, if the price turns up from the current level or rebounds off $2 and breaks above the 50-day SMA ($2.27), it signals the pair may extend its stay inside the range for some more time.
BNB price prediction
BNB
is getting squeezed between the 20-day EMA ($652) and the horizontal support at $634, suggesting an imminent breakout in the near term.
If the price turns up and breaks above the 20-day EMA, it signals that the BNB/USDT pair may remain inside the $634 to $693 range for a few more days. The trend will turn in favor of the bulls on a close above $693.
Contrarily, a break and close below the $634 support indicates the range-bound action has resolved in favor of the bears. That could intensify selling, pulling the pair to the solid support at $580.
Solana price prediction
Buyers have kept Solana
above the $140 support but are struggling to clear the hurdle at the 20-day EMA ($152).
A tight consolidation near the $140 support heightens the risk of a breakdown. If that happens, the SOL/USDT pair will complete a head-and-shoulders pattern. The pair may fall to $123 and subsequently to $110.
Instead, if the price turns up and breaks above the 20-day EMA, it signals that the bulls are trying to keep the pair inside the $140 to $185 range for some more time. Buyers will be back in the driver’s seat on a close above $185.
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