As Bitcoin Challenges $109,000, HYPE, BCH, LINK, and SEI Test Resistance

While Bitcoin is preparing to close the week with a strong rise, some altcoins are also testing critical resistance levels. Bulls are setting the stage for a potential rally by keeping the price above $105,000.

In recent days, Bitcoin has gained over 6%, approaching the $109,000 region, showing a strong recovery. This indicates strong buying interest at the $100,000 level. Popular analyst Rekt Capital stated on social media platform X that Bitcoin completing the week with the highest close could be the beginning of a new all-time high.

However, due to low liquidity in the market on weekends, price movements need to be assessed cautiously. It is thought that selling pressure may increase starting Monday.

Strong Buying in Bitcoin Triggers Activity in Altcoins

With the rise of Bitcoin, strong buying signals are also seen in altcoins like HYPE, BCH, LINK, and SEI. If BTC manages to stay above the $105,000 level, these altcoins may continue their upward movements by breaking the resistance levels.

Below, we examine the technical outlook of these coins and their potential support/resistance levels:

Bitcoin (BTC) Technical Analysis

BTC is stuck between the moving averages and the downward trend line. Although the price approaches the descending trend line, it has struggled to break this area so far.

The RSI is in the positive region and moving averages show an upward trend; this indicates that the bulls are in control.

If BTC breaks above this trend line, it may test the resistance levels of $110,530 and then $111,980.

A permanent breakout in this area could push the price to the levels of $150,492.

However, if the price dips below the 20-day EMA, downward momentum may gain speed and a pullback could occur to the support levels of $102,500 and then $100,000.

Hyperliquid (HYPE) Technical Outlook

HYPE indicates that short-term declines are turning into buying opportunities. Although the price fell below the 20-day EMA on Thursday, a quick recovery occurred.

If the resistance area at $39.12 is broken, the targets will be $42.50 and $45.80 respectively.

Otherwise, the price may pull back to the 20 EMA and then to the 50 SMA ($34.42). If this level is broken, $30.69 may come back into focus.

Support from the 50-SMA in the short term indicates that the bulls are effective in the market.

Bitcoin Cash (BCH) Technical Status

Although BCH is facing selling pressure at the $500 level, the bulls are resisting at this level and trying to keep the price high.

The positive trend in moving averages and the position of the RSI in the strong region create a structure favorable to the bulls.

If $500 is exceeded, the first target could be $550, followed by $625.

On the downside, the first support is at the 20-day EMA ($464) and the stronger support is at the 50-day SMA ($430). Falling below these levels may indicate a reversal of the trend in the short term.


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