Bitcoin (BTC) supporters are making efforts to push for a recovery, but strong selling pressure at higher levels continues to hinder all attempts to break through the resistance zone. Veteran trader Peter Brandt stated on X that Bitcoin has broken the descending wedge pattern, increasing the risk of a correction down to $65,635.
According to Nic Puckrin, founder of Coin Bureau, the current macroeconomic context along with concerns about a prolonged trade war have increased the probability of an economic recession occurring in 2025 to 40%. He noted that the recession and macroeconomic instability could put significant pressure on risk assets such as cryptocurrencies.
However, not all analysts have a bearish outlook on Bitcoin in the short term. Stockmoney Lizards stated on X that Bitcoin may have formed a local bottom in the $82,000–$80,000 range and predicts a reversal to occur soon next week.
If Bitcoin starts to recover, some altcoins may also benefit and rise in price. Let's analyze the charts of the top cryptocurrencies that are signaling a bullish trend.
Technical analysis of BTC
Bitcoin's failure to surpass the resistance level may have triggered selling from traders. The bears will attempt to pull the price back to the important support area at $80,000.
The 20-day exponential moving average (EMA) at $85,253 is moving sideways, and the relative strength index (RSI) is just below the average, giving a slight advantage to the bears. If the support level of $80,000 is broken, the BTC/USDT pair could drop to $76,606.
Conversely, if the price rebounds from the current level or $80,000, this will increase the likelihood of breaking through the resistance level. If this scenario occurs, it could mark the end of the correction phase. The BTC/USDT pair could rise to $95,000 and even reach $100,000.
On the 4-hour chart, the 20-day EMA has started to decline, and the RSI is in the negative zone, indicating that the bears are in control. If the price continues to decline, this currency pair could slide down to $80,000, even $78,000.
The bulls will need to push the price above the 20-day EMA to show strength. At that point, the price could rise to the resistance level, which will be an important level to watch. Bullish momentum could start when Bitcoin breaks above $89,000.
Technical analysis of TON
Toncoin (TON) rebounded from the moving averages on March 30, indicating positive sentiment in the market.
The 20-day EMA is sloping upwards ($3.58) and the RSI in the positive zone is giving an advantage to the bulls. Buyers will try to consolidate their position by pushing the price above the $4.14 threshold. If successful, the TON/USDT pair could start a new bullish rally to $5 and even $5.65.
Conversely, the bears will need to pull the price below the support level of $3.3 to take control. If this happens, it will confirm that the bears continue to sell as the price rises. At that point, this currency pair could drop to $2.81 and then $2.64.
The TON/USDT pair has turned away from the uptrend line, indicating that bulls are taking advantage of price dips as buying opportunities. The price may head towards the resistance level of $4.14, where the bears are expected to intervene. However, if the bulls surpass this resistance level, the currency pair may enter the next bullish phase towards $5.
If the bears regain control by pulling the price below the uptrend line and maintaining it there, the TON/USDT pair could drop to $3.28.
Technical analysis of CRO
Cronos (CRO) broke above the moving averages on March 24, signaling that the downtrend may have ended.
The CRO/USDT pair is facing selling pressure near $0.12, but a positive sign for the bulls is that they are not allowing the price to stay below the support level of $0.10. This indicates that buyers are trying to form a higher bottom. If the bulls push the price above $0.12, this currency pair could rise to $0.14.
However, the bears may have a different strategy. They will try to pull the price below the moving averages to trap optimistic investors.
This currency pair has been stuck in the price range of $0.10 to $0.12, indicating hesitation between bulls and bears. The 20-day EMA is gradually sloping upwards, and the RSI is just above the average, giving a slight advantage to the bulls. If the price breaks out and closes above $0.11, there is a high chance of a price increase exceeding $0.12.
The bears will regain control if they pull the price below the 50-day simple moving average (SMA). If this happens, the CRO/USDT pair could drop to $0.08.
Technical analysis of MNT
Mantle (MNT) price has failed to surpass the 50-day simple moving average (SMA) at $0.84 in recent days. However, a positive sign is that the bulls are trying to keep the price above the 20-day exponential moving average (EMA) at $0.80.
If the price strongly rebounds from the 20-day EMA, it will indicate that market sentiment has shifted from selling on price increases to buying on price dips. This increases the likelihood that the price could break through the SMA 50-day resistance. If this scenario occurs, the MNT/USDT pair could rise to $0.94 and then to $1.06.
On the contrary, if the price continues to decline and breaks below the support level of $0.77, the short-term advantage will tilt towards the bears. At that point, this currency pair could fall to $0.72, delaying the bullish trend.
On the 4-hour chart, the MNT/USDT pair is facing strong resistance at $0.85. If the price drops to $0.77, this will be an important support level to watch. If the price rebounds from $0.77, it will show that the bulls are still actively buying as the price declines. This scenario could keep the price fluctuating in the range of $0.77 – $0.85 for some time. A breakout and close above $0.85 could push the price up to $0.95.
Conversely, the bears need to pull the price below $0.77 to take control. If this happens, the currency pair may continue to decline to $0.69.
Technical analysis of RNDR
Render (RNDR) price has been in a strong downtrend for several weeks, but the bulls pushed the price above the 50-day SMA ($3.77) on March 25, indicating buying demand at lower price levels.
However, the bears have pulled the price down to the 20-day EMA ($3.57), an important level to watch. If the price rebounds strongly from the 20-day EMA, the bulls may try to push the RNDR/USDT pair up to $5 and then to $6.20.
This positive outlook will be invalidated in the short term if the price continues to decline and closes below $3.05. That would signal that the bears are acting strongly at higher price levels. At that point, the currency pair could drop to $2.83 and even $2.52.
On the 4-hour chart, the 20-day EMA has turned downwards, and the RSI is in the negative zone, indicating that the bears are in control. If the price breaks and closes below the uptrend line, it will further strengthen the bears, pulling the price down to $3.
The first sign of recovery will be a breakout and a close above the moving averages. If this happens, the RNDR/USDT pair could bounce up to $4. The bullish momentum may strengthen after the price surpasses $4.20, completing an inverted head and shoulders pattern – a significant bullish signal.
$BTC
