This was the week’s key macro data release, and the first CPI report to reflect the impact of the US and Israel war in Iran.
Gasoline prices jumped over 21% month-on-month, the Bureau of Labor Statistics (BLS) confirmed, but overall CPI finished 0.1% lower than markets’ expectations.
“Over the last 12 months, the all items index increased 3.3 percent before seasonal adjustment,” an official news release read.
“The index for energy rose 10.9 percent in March, led by a 21.2-percent increase in the index for gasoline which accounted for nearly three quarters of the monthly all items increase.”
US CPI 12-month % change. Source: BLS
Reacting, trading resource The Kobeissi Letter noted that the gas-price CPI jump was the largest monthly gain since 1967. The energy increase, it added in a further post on X, was the largest since 2005.
With the resulting mixed picture of inflationary forces, US stocks were mostly flat at the open, while BTC price action also avoided major moves up or down.
Fed target rate probabilities (screenshot). Source: CME Group
Markets, however, had no hope for the Federal Reserve cutting interest rates — a conclusion already in place on the back of Thursday’s Personal Consumption Expenditures (PCE) index release, per data from CME Group’s FedWatch Tool.
Bitcoin traders draw the next resistance zones
Among Bitcoin market participants, there was modest reason for optimism over the short-term price outlook.
Earlier, Cointelegraph reported on a copycat signal from Bitcoin’s relative strength index (RSI) that began to echo the end of the 2022 bear market.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
Bittensor subnet developer Covenant AI said Friday that it is leaving the decentralized artificial intelligence network, accusing Bittensor of operating under a concentrated governance structure that undermines its decentralization claims.
In a Friday post on X, Covenant AI founder Sam Dare said the team could no longer build on or raise for Bittensor because its governance was not meaningfully distributed.
“It is decentralization theatre,” Dare said. “Jacob Steeves maintains effective control over the triumvirate, resists any meaningful transfer of authority, and deploys changes unilaterally whenever he chooses, without process and without consensus.”
The dispute cuts to the core of Bittensor’s decentralization pitch. Covenant AI alleged that founder Jacob Steeves, known as Const, exerts outsized influence over governance and network operations, an accusation Steeves denied.
Bittensor’s governance documents describe a transitional system in which a “Triumvirate” of Opentensor Foundation employees holds root permissions alongside a senate, rather than a fully open governance model.
Covenant AI claims subnet emissions were suspended, Bittensor founder denies allegations
Covenant AI said Steeves had taken several actions against the project in recent weeks, including suspending emissions to its subnet, restricting moderation powers in community channels and applying “direct economic pressure” through visible token sales during the dispute.
Steeves rejected the allegations, claiming that he cannot suspend subnet emissions and that he does not hold “any privilege beyond what normal TAO holders have.”
In a Friday X response, Steeves said he sold some of his “alpha holdings on his three subnets because they were not running and were on near 100% burn code,” which changed the emissions the same way “all buys and sells on Bittensor do.”
Steeves also denied stripping Covenant AI of its moderation rights, saying he only temporarily removed the team’s ability to delete posts before restoring it. He added that large token sales would have been visible onchain.
“Not large. Less than 1% of what i had invested in his teams. Visibility is impossible to avoid in my position. I reserve my right to buy and sell tokens which is what underpins the entire system of dTao,” he added.
Bittensor previously garnered mainstream attention after Nvidia CEO Jensen Huang praised the decentralized training run on Bittensor Subnet 3, calling Covenant’s milestone of pre-training the largest decentralized LLM a “remarkable technical achievement,” during the All-In Podcast on March 19.
TAO’s sales volume skyrockets ahead of Covenant AI’s departure announcement
The governance dispute also weighed on Bittensor’s (TAO) token, which was down around 18% over the previous 24 hours as of Friday morning, according to market data.
TAO/USD, 1-week chart. Source: CoinMarketCap
However, sell volume on TAO rose to its highest level since December 2024, about 24 hours before Covenant AI announced its departure. “If you think that’s a coincidence, you don’t understand the game you’re playing. This was a calculated exit and execution,” wrote crypto analyst Ardi in a Friday X post.
Cointelegraph reached out to Covenant AI and Bittensor for comment but had not received a response by publication.
The dispute raises wider concerns for projects striving for decentralization, according to David and Daniil Liberman, co-creators of the decentralized layer-1 blockchain Gonka protocol.
“Decentralized networks that want serious builders have to answer one question: can the infrastructure you build on be used against you? If the answer is yes, the decentralization is cosmetic,” they told Cointelegraph.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Bitcoin climbed to $72,000 as increasing recession odds and a weak US dollar boosted the appeal of scarce financial assets.
Rising oil prices and a wobbly truce with Iran threaten to reverse Bitcoin’s recent gains.
Bitcoin (BTC) reclaimed the $72,000 level on Thursday despite data showing rising inflation and weak economic growth in the United States. Crude oil prices jumped back to $97 after senior Iranian leaders claimed that the US and Israel had violated the ceasefire. Traders now fear that risk markets could react negatively, potentially sending Bitcoin price back below $68,000.
The inverse relationship between oil prices and risk markets became increasingly evident. Shortly after US President Donald Trump announced a ceasefire on Wednesday, the S&P 500 index futures jumped to their highest levels in 30 days, while WTI crude oil prices dropped below $100. Hence, Bitcoin traders fear that the fragile truce between the US and Iran could lead to bearish outcomes.
Fragile ceasefire with Iran and weak US economic data limit Bitcoin upside
Iranian parliamentary speaker and former Islamic Revolutionary Guard Corps (IRGC) General Mohammad Bagher Ghalibaf, who has emerged as a leading voice within the regime, said that Israel’s continued campaign in Lebanon against Hezbollah, the illegal entry of military drones in Iranian airspace and the denial of uranium enrichment violate the ceasefire negotiations, according to Yahoo Finance.
Inflation data reported by the US Bureau of Economic Analysis on Thursday likely helped to lift traders’ spirits. The core Personal Consumption Expenditures (PCE) index rose by 0.4% in February over the previous month. In parallel, the US fourth quarter gross domestic product was revised down to a 0.5% annualized rate. Overall, data points to increased recession risks.
US dollar strength index (left, green) vs. Bitcoin/USD (right, orange). Source: TradingView
Although counterintuitive, the higher odds of economic stagnation amid sticky inflation have led traders to become less risk-averse, as the US government will likely be forced to inject liquidity to support markets. Reduced confidence in the US Federal Reserve’s ability to avert a recession without causing inflation has led to a weaker US dollar, when measured against a basket of foreign currencies.
AI infrastructure and private credit risks are not an imminent concern
While the correlation between Bitcoin and the US stock market is far from perfect, traders tend to seek protection when real yields are diminished. Although Bitcoin is not widely seen as a reliable hedge against fiat debasement, a weaker US dollar tends to support demand for scarce assets.
Bitcoin/USD 30-day correlation vs. S&P 500 index. Source: TradingView
The S&P 500 index traded a mere 2% away from its all-time high on Thursday, a clear indication that investors do not fear issues in private credit markets or the surging debt cost protection for AI infrastructure companies.
Ultimately, Bitcoin seems to have merely followed investor expectations regarding the war in Iran rather than reacting to weak US macroeconomic data.
For now, recession risks favor scarce assets; hence, there is little reason to believe that inflation or job market perspectives could act as a sell-off trigger.
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
Pyth Network, a blockchain data oracle provider, is launching a platform for financial institutions to publish and monetize their market data across blockchain networks.
The Pyth Data Marketplace will initially support datasets for spot foreign currency exchange markets (FX), precious metals and crude oil swaps, while allowing publishers to retain “full control” over the data they share, according to Thursday’s announcement.
Seven new institutional data providers will publish price feeds on the marketplace at launch, the announcement said.
These include stock exchange Euronext, data provider Exchange Data International, asset manager Fidelity Investments, financial exchange OTC Markets Group, Singapore Exchange FX and the Tradeweb trading platform.
The announcement reflects how blockchain technology can democratize access to financial data, which has traditionally been controlled by a handful of service providers who charge exorbitant fees for high-quality market pricing data.
Pyth takes on incumbent data providers through blockchain tech
Pyth’s data pull model allows customers to pay for market data on demand, instead of traditional push-based oracle models that force users to pay for entire datasets, which they may or may not need.
This could reduce costs for end users, according to Douro Labs
Traditional service providers monopolize the $50 billion financial data industry, James told Cointelegraph at Consensus 2025. That is now being challenged by new emerging blockchain alternatives like Pyth and Chainlink.
“These data vendors have no competition in traditional finance, and so they have all the pricing power in the world,” he said.
Banks, hedge funds, trading firms and other financial institutions are forced to buy this financial data for “compliance” reasons, James added.
The market share of different blockchain oracle providers. Source: DeFiLlama
In August 2025, the US Department of Commerce selected Pyth and blockchain oracle provider Chainlink to publish economic data onchain.
Pyth was initially selected to publish quarterly gross domestic product (GDP) data, including five years of historical GDP figures, according to a previous announcement from the oracle provider.
However, Pyth anticipates adding support for more government economic data sets in the future.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
Relief over a US-Iran ceasefire combined with favorable readings from the Federal Reserve’s “preferred” inflation gauge, the Personal Consumption Expenditures (PCE) index.
Core PCE year-on-year came in at 3% for February. On a monthly basis, core PCE was at 0.4%, per data from the US Bureau of Economic Analysis (BEA).
US PCE data. Source: BEA
Reacting, trading resource The Kobeissi Letter noted that the impact of the US-Iran war and oil-supply squeeze were not yet reflected in PCE.
“This marks the final pre-Iran War PCE inflation datapoint,” it wrote on X.
Markets remained cautious about future Fed policy, with data from CME Group’s FedWatch Tool continuing to show no expectations of interest-rate cuts in 2026.
Fed target rate probabilities (screenshot). Source: CME Group
While Bitcoin offered no obvious reaction to the latest data, meanwhile, economist Mohamed El-Erian argued that Friday’s March Consumer Price Index (CPI) release was more important.
“While PCE inflation is widely regarded as the Fed’s favorite measure, the bigger inflation focus this week will be on tomorrow’s CPI data, as PCE covers February and not March,” he told X followers.
As Cointelegraph reported, CPI is particularly susceptible to fallout from oil-price swings.
Trader: $80,000 BTC price push “on the horizon”
BTC price action thus left traders guessing as to when and where the next move would be.
In their latest market commentary, pseudonymous trader LP leveraged liquidation clusters to give potential targets.
“On the HTF, some upside low-leverage liquidation clusters have been cleared, but sizeable liquidity still remains around 73K and above the highs near 76K. Meanwhile, liquidity is starting to build on the downside, mainly around 69K and 64K,” an X post stated.
“With price still range-bound, both sides remain in play. If the 69–68K level holds, price is likely to push higher and target the remaining upside liquidity around 73K.”
BTC/USDT order-book liquidity data. Source: LP/X
Crypto trader Michaël Van de Poppe was more optimistic, keeping the $80,000 mark in play.
“As long as Bitcoin continues to hold these ranges, there’s a strong new upwards leg on the horizon towards $80K,” he summarized on the day.
BTC/USDT one-day chart. Source: Michaël Van de Poppe
This article is produced in accordance with Cointelegraph’s Editorial Policy and is intended for informational purposes only. It does not constitute investment advice or recommendations. All investments and trades carry risk; readers are encouraged to conduct independent research before making any decisions. Cointelegraph makes no guarantees regarding the accuracy or completeness of the information presented, including forward-looking statements, and will not be liable for any loss or damage arising from reliance on this content.
A trader lost about $3 million after building a large leveraged Fartcoin position on Hyperliquid that unraveled in thin liquidity, triggering the platform’s auto-deleveraging (ADL) mechanism.
Hyperliquid data flagged by Lookonchain shows that the trader accumulated about 145 million tokens across multiple wallets before being liquidated. The liquidation redistributed gains to opposing traders, with at least two wallets seeing around $849,000 through ADL.
PeckShield said the unwind produced about $3 million in accounting losses and left Hyperliquid’s HLP vault down roughly $1.5 million over 24 hours, though Hyperliquid had not publicly confirmed those figures by publication.
The episode highlighted how ADL can crystallize gains for traders on the other side of a collapsing position, while raising fresh questions about how Hyperliquid’s liquidation and vault structure behave in low-liquidity markets.
One of the wallets that profited from the redistribution. Source: Hyperdash
PeckShield said the activity appeared structured to trigger liquidations in low-liquidity conditions, potentially pushing losses onto Hyperliquid’s liquidity pool while being offset by positions elsewhere.
Cointelegraph reached out to Hyperliquid for comments, but had not received a response before publication.
Past trades exposed similar pressure on Hyperliquid’s liquidity system
This is not the first time Hyperliquid’s liquidity system has come under pressure from large, concentrated positions.
On March 13, 2025, the platform’s Hyperliquidity Provider (HLP) vault took a roughly $4 million hit after an oversized Ether (ETH) position was unwound, triggering liquidations under thin market conditions. After the incident, the team said that losses stemmed from market dynamics rather than a protocol exploit.
A similar episode occurred later that month involving the JELLY memecoin. On March 27, 2025, a trader used multiple leveraged positions to exploit the platform’s liquidation system.
However, the final outcome remained unclear, with Arkham saying the trader withdrew about $6.26 million but may still have ended up down nearly $1 million.
On Nov. 13, 2025, a similar pattern occurred when a trader built large leveraged positions in the POPCAT market, triggering cascading liquidations that left a $5 million hole in the HLP vault. Community members said the strategy appeared designed to create and then remove liquidity to force the vault to absorb the impact.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
The US Department of Justice (DOJ) and Commodities and Futures Trading Commission (CFTC) asked a federal court to block Arizona from enforcing state gambling law against Kalshi’s event contracts, arguing that they fall under the CFTC’s exclusive authority over swaps markets.
The Wednesday filing argues that event contracts listed on federally regulated platforms such as Kalshi are swaps under the Commodity Exchange Act and therefore fall within the CFTC’s exclusive jurisdiction.
The filing says Arizona’s enforcement effort unlawfully intrudes on the CFTC’s exclusive jurisdiction over federally regulated event-contract markets.
If granted, the order would block Arizona from applying its gambling laws to prediction markets that are listed as federally regulated event contracts. An arraignment in the criminal case against Kalshi is currently scheduled for Monday.
Arizona Attorney General Kris Mayes announced charges against the companies behind Kalshi on March 17, accusing them of operating an “illegal gambling business in Arizona without a license” and offering illegal election wagering.
Kalshi co-founder and CEO, Tarek Mansour, claimed the charges were a “total overstep” and “not about gambling.”
Federal and state regulators clash over prediction markets
The dispute has become a major test of whether prediction market contracts belong under federal commodities law or state betting rules.
CFTC, DOJ court filing seeking a TRO against Arizona federal court in case against Kalshi, Case No: CV-26-01715-PHX-MTL. Source: Courtlistener
On April 2, the CFTC filed three separate lawsuits against the gaming regulators of Illinois, Connecticut and Arizona, claiming that the event contracts offered by the platforms violated state gambling laws and licensing requirements.
In those suits, the CFTC says it has exclusive jurisdiction over CFTC-registered designated contract markets that list lawful event contracts. Kalshi is the clearest example in the current litigation.
Prediction market activity has been rising since the beginning of the US and Israeli military conflict with Iran, fueling renewed insider trading allegations, after six Polymarket traders netted $1 million by accurately betting when the US would strike Iran.
In response to insider trading concerns, Democratic Party Senator Adam Schiff has introduced legislation seeking to ban prediction markets on war, death and terrorism.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy
AAVE price prediction suggests potential recovery to $98-105 by early May as oversold conditions develop, though bears maintain control below key resistance at $98.99.
While specific analyst predictions are limited for the current timeframe, historical analysis provides context for AAVE’s trajectory. Earlier projections from March 2026 identified key resistance levels around $116-137, though the token has since declined significantly from those levels.
According to on-chain data trends, AAVE has experienced substantial selling pressure, dropping over 46% from its 200-day moving average of $168.83. This suggests a prolonged bearish cycle that may be approaching oversold territory based on current technical indicators.
AAVE Technical Analysis Breakdown
AAVE’s technical picture presents a mixed but predominantly bearish outlook at the current $90.21 price level. The RSI reading of 32.24 indicates the token is approaching oversold conditions without quite reaching the extreme oversold threshold of 30, suggesting potential for a relief bounce.
The MACD histogram at 0.0000 confirms bearish momentum remains intact, with the MACD line at -5.3273 well below the signal line. This technical setup typically indicates continued downward pressure in the near term.
Aave’s position within the Bollinger Bands reveals significant insights, with the current price at 0.1660 of the band width, placing it much closer to the lower band at $85.64 than the upper band at $113.16. This positioning often precedes either a bounce from oversold levels or a breakdown below key support.
The moving average structure confirms the bearish bias, with AAVE trading below all major moving averages. The 7-day SMA at $93.48 provides immediate resistance, followed by the 20-day SMA at $99.40, which aligns closely with the identified strong resistance at $98.99.
Aave Price Targets: Bull vs Bear Case
Bullish Scenario
The Aave forecast for a bullish reversal targets the $98-105 range, contingent on breaking above the immediate resistance at $94.60. A successful breach of the strong resistance at $98.99 would signal a potential trend change, opening the path toward the 20-day moving average at $99.40.
Technical confirmation for this bullish scenario would require RSI breaking above 40 and MACD histogram turning positive. The proximity to the lower Bollinger Band at $85.64 provides tactical support for a potential bounce toward the middle band at $99.40.
Bearish Scenario
Should bears maintain control, AAVE price prediction models suggest a test of the strong support at $85.11. A breakdown below this level could trigger accelerated selling toward the lower Bollinger Band at $85.64, with potential for further decline to the $75-80 range.
Risk factors include continued broader crypto market weakness and reduced DeFi activity, which could pressure AAVE’s fundamental value proposition. The significant gap between current price and the 200-day moving average at $168.83 indicates the potential for extended consolidation at lower levels.
Should You Buy AAVE? Entry Strategy
For aggressive traders, the current oversold conditions present a tactical buying opportunity near $89-91, with a tight stop-loss below $85.11. Conservative investors should wait for confirmation above $94.60 before considering entry.
A dollar-cost averaging approach between $85-95 may prove effective given the high volatility, as indicated by the ATR of $4.95. Risk management remains crucial, with position sizing limited to 2-3% of portfolio given the uncertain technical outlook.
Conclusion
The AAVE price prediction suggests a challenging near-term environment with potential for recovery by early May. While oversold conditions may trigger a relief bounce toward $98-105, the overall technical structure remains bearish until proven otherwise above key resistance levels.
Traders should monitor the RSI for divergences and MACD for momentum shifts, as these could provide early signals of trend changes. The Aave forecast carries medium confidence given the mixed technical signals and lack of recent catalyst events.
Disclaimer: Cryptocurrency price predictions are inherently speculative and subject to high volatility. Past performance does not guarantee future results. Always conduct thorough research and consider your risk tolerance before making investment decisions.
Lido DAO (LDO) trades at $0.32 with neutral RSI at 51.01. Technical analysis suggests potential breakout to $0.36-$0.40 resistance zone within two weeks if current support holds.
Lido DAO (LDO) has captured significant attention from crypto analysts as the liquid staking protocol token consolidates around $0.32. With recent technical developments and analyst predictions pointing toward potential upside, our comprehensive LDO price prediction examines the key factors that could drive the token toward $0.36-$0.40 targets in the coming weeks.
Recent analyst coverage has been notably bullish on LDO’s technical setup. James Ding provided an updated analysis on April 8, 2026, stating: “LDO shows bullish momentum with RSI at 56.06 and price near Bollinger Band resistance. Technical analysis suggests $0.36-$0.40 targets within two weeks if current support holds.”
Rebeca Moen shared a similar outlook on April 6, 2026: “LDO trades at $0.32 with bullish momentum building. Technical analysis suggests potential breakout to $0.34-$0.36 resistance zone within two weeks if current support holds.”
Zach Anderson offered a more conservative Lido DAO forecast on April 4, 2026: “Lido DAO trades at $0.32 with neutral momentum. Technical analysis suggests potential test of $0.34 upper Bollinger Band resistance within two weeks if RSI maintains above 50.”
The consensus among these analysts points to a potential breakout above the $0.34 resistance level, with targets ranging from $0.34 to $0.40 over the next two weeks.
LDO Technical Analysis Breakdown
Current technical indicators present a mixed but increasingly bullish picture for LDO. The token trades at $0.32, experiencing a -4.22% decline in the past 24 hours but maintaining crucial support levels.
RSI Analysis: The 14-period RSI sits at 51.01, placing LDO in neutral territory with room for upward movement before reaching overbought conditions. This positioning suggests potential for continued bullish momentum without immediate selling pressure.
MACD Indicators: The MACD line at 0.0028 remains close to the signal line (0.0028), with a histogram reading of 0.0000 indicating bearish momentum in the short term. However, this tight convergence often precedes significant directional moves.
Bollinger Bands: LDO’s position at 0.62 within the Bollinger Bands (where 0 represents the lower band and 1 the upper band) shows the token trading in the upper portion of its recent range. The upper band at $0.34 serves as immediate resistance, while the lower band at $0.28 provides downside support.
Moving Average Convergence: The convergence of short-term moving averages (SMA 7: $0.32, SMA 20: $0.31, SMA 50: $0.31) around current price levels suggests a potential breakout point. However, the significant gap to the SMA 200 at $0.60 indicates LDO remains well below its longer-term average.
Lido DAO Price Targets: Bull vs Bear Case
Bullish Scenario
In the bullish case for our LDO price prediction, a break above the immediate resistance at $0.33 could trigger momentum toward the upper Bollinger Band at $0.34. Sustained movement above this level would target the analyst consensus range of $0.36-$0.40.
Key technical confirmations needed for the bullish scenario include RSI moving above 55, MACD histogram turning positive, and daily trading volume exceeding the current 24-hour average of $1.67 million. A close above $0.34 on strong volume would validate the bullish breakout scenario.
Bearish Scenario
The bearish case for this Lido DAO forecast centers on a failure to hold current support levels. A break below $0.31 could trigger selling toward the lower Bollinger Band at $0.28, with further downside targeting the strong support zone around $0.30.
Risk factors include continued MACD bearish divergence, RSI falling below 45, and overall crypto market weakness. The significant distance to the 200-day moving average at $0.60 also suggests potential for deeper corrections if broader market conditions deteriorate.
Should You Buy LDO? Entry Strategy
Based on current technical analysis, potential entry points for LDO include:
Conservative Entry: Wait for a pullback to $0.30-$0.31 support zone, offering better risk-reward ratios with stop-loss placement below $0.29.
Aggressive Entry: Current levels around $0.32 for traders confident in the bullish breakout scenario, with stop-loss below $0.30.
Breakout Entry: Above $0.34 confirmation for momentum traders, targeting the $0.36-$0.40 range with stop-loss at $0.32.
Risk management remains crucial given the 14-day ATR of $0.02, indicating significant daily volatility that could impact position sizing decisions.
Conclusion
Our comprehensive LDO price prediction suggests potential upside to the $0.36-$0.40 range over the next two weeks, supported by analyst consensus and technical indicators showing neutral-to-bullish momentum. The convergence of moving averages around current price levels creates a decision point that could determine near-term direction.
However, traders should remain cautious given the current bearish MACD histogram and recent 24-hour decline. The key level to watch remains $0.34, where a sustained breakout would validate the bullish scenario outlined by recent analyst predictions.
Disclaimer: Cryptocurrency price predictions involve significant risk and uncertainty. This analysis is for informational purposes only and should not be considered financial advice. Always conduct your own research and consider your risk tolerance before making investment decisions.
Bitcoin is showing signs of bottoming out, but some analysts say a final shakeout below $60,000 is still possible over the next few months.
Several major altcoins are showing early signs of buying, but the bulls have a lot of work to do before a trend change is signaled.
Bitcoin (BTC) rose above the $72,000 level on Tuesday following the announcement of a ceasefire agreement between the US and Iran. Although the bulls could not achieve a close above $72,000, a positive sign was that the buyers had not ceded much ground to the bears. That suggested the bulls were holding on to their positions as they anticipated the recovery to continue.
Several analysts said that BTC is showing signs of bottoming out. Crypto trader Quantum Ascend said in a post on X that BTC’s stochastic relative strength index (RSI) indicator is at the “exact same point on the daily as it was in 2022” before the price sprinted higher.
Crypto market data daily view. Source: TradingView
A slightly different view was put forth by Alphractal founder and CEO Joao Wedson, who said in a post on X that the bear trend may be ending but BTC may witness “a sharp move like a –$15K shakeout” over the next six months.
Could BTC and select major altcoins extend their relief rally? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
BTC cleared the moving averages and the $72,000 resistance on Tuesday, indicating solid buying by the bulls.
Sellers are expected to defend the $72,000 to $76,000 zone with all their might, as a close above it would complete a bullish ascending triangle pattern. If that happens, the BTC/USDT pair may skyrocket to $84,000.
The first sign of weakness will be a close below the moving averages, suggesting that the bears remain sellers on rallies. A close below the support line would invalidate the positive setup, increasing the risk of a fall to the crucial $62,500 to $60,000 support zone.
Ether price prediction
Ether (ETH) turned up from the 50-day simple moving average ($2,059) on Tuesday and surged above the $2,200 resistance.
The 20-day exponential moving average ($2,110) has started to turn up, and the RSI is in the positive territory, indicating that the path of least resistance is to the upside. There is resistance at the $2,400 level, but if the bulls overcome it, the up move may extend to $2,800.
Time is running out for the bears. They will have to swiftly yank the ETH price below the moving averages to signal a comeback. The ETH/USDT pair may fall to $1,918 and potentially to the $1,750 support.
XRP price prediction
XRP’s (XRP) bounce off the $1.27 level reached the moving averages, which is a crucial resistance to watch out for.
If buyers thrust the XRP/USDT pair above the moving average, it clears the path for a rally to the breakdown level of $1.61 and then to the downtrend line of the descending channel pattern. Sellers will attempt to halt the up move at the downtrend line, as a close above it points to a potential trend change.
On the downside, a close below the $1.27 level signals that the bears remain in control. That increases the risk of a drop to the $1.11 level and eventually to the support line of the descending channel pattern near $1.
BNB price prediction
BNB (BNB) has been consolidating between $570 and $687 for several days, indicating buying near the support and selling close to the resistance.
The flattish moving averages and the RSI near the midpoint suggest that the range-bound action may continue for a few more days. If bulls pierce the moving averages, the BNB/USDT pair may reach the $687 level, where the bears are expected to step in.
The next trending move is expected to begin on a close above the $687 resistance or below the $570 support. If the $687 level is taken out, the pair may soar to $730 and later to $790. On the other hand, a close below $570 may sink the pair to $500.
Solana price prediction
Solana (SOL) is attempting to rise above the moving averages, but the bears have held their ground.
The flattish moving averages and the RSI just below the midpoint do not give a clear advantage either to the bulls or the bears. If the SOL price rises above the moving averages, the next stop may be the $98 level. Buyers will have to secure a close above the $98 resistance to gain the upper hand.
On the downside, a break and close below the $76 support tilts the advantage in favor of the bears. That increases the risk of a drop to $67 and subsequently to $50.
Dogecoin price prediction
Dogecoin (DOGE) rose above the moving averages on Tuesday, but the recovery is facing resistance at the downtrend line.
Sellers will attempt to strengthen their position by pulling the DOGE price below the $0.09 level. If they manage to do that, the DOGE/USDT pair will complete a descending triangle pattern. The pattern target of this bearish setup is $0.06.
On the contrary, a close above the downtrend line invalidates the negative setup. That suggests the bears have given up, opening the gates for a rally to $0.11 and then to the $0.12 level.
Hyperliquid price prediction
Hyperliquid (HYPE) closed above the 20-day EMA ($37.28) on Tuesday, signaling that the correction may be over.
The bulls will attempt to push the HYPE price to the $41.59 to $43.76 zone, where the sellers are expected to mount a solid defense. If buyers clear the overhead barrier, the HYPE/USDT pair may rally to $50.
This positive view will be negated in the near term if the price turns down and breaks below the 50-day SMA ($34.80). Such a move indicates that higher levels continue to attract sellers. The pair may then tumble to the $29.42 level.
If buyers pierce the 50-day SMA, the ADA/USDT pair may reach the downtrend line of the descending channel pattern. Sellers are expected to fiercely defend the downtrend line as a close above it signals a potential trend change.
Sellers are likely to have other plans. They will attempt to aggressively defend the downtrend line and pull the ADA price below the moving averages. If they do that, the pair may extend its stay inside the channel for a few more days.
Bitcoin Cash price prediction
Buyers are attempting to sustain Bitcoin Cash (BCH) above the breakdown level of $443 but are expected to face significant resistance from the bears.
If the BCH price turns down from the moving averages and breaks below the $420 level, it signals the resumption of the downward move. That may sink the BCH/USDT pair to the $375 level.
The first sign of strength will be a close above the moving averages. That suggests the market has rejected the break below the $443 level. The pair may then rally to the $520 to $540 zone.
Chainlink price prediction
Chainlink (LINK) closed above the moving averages on Tuesday, opening the doors for a rally to the resistance of the $8 to $10 range.
Sellers are expected to defend the $10 level, keeping the LINK price inside the range for some more time.
Buyers will have to propel and maintain the price above the $10 resistance to gain the upper hand. That may drive the LINK/USDT pair to $10.94 and thereafter to the $11.61 level. On the downside, a break and close below the $8 level signals an advantage to bears. The pair risks falling to $7.15 and then to the pattern target of $6.
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