Bitcoin (BTC) staged a sharp recovery from a low of $74,500 on April 7, rebounding to trade around $78,000 after panic-selling triggered by a U.S. stock market downturn. The Fear & Greed Index for U.S. equities plunged to just 4/100, signaling extreme fear — often a precursor to a reversal.
Despite the bounce, BTC faces strong resistance and may struggle to break above key levels without bullish confirmation. A move above the resistance trendline could push BTC to $89,000–$95,000, while a drop below $73,777 could send it tumbling to $67,000.
Altcoins Mirror Market Stress
Ethereum ($ETH ) remains under pressure, hovering near $1,550 after breaching key support at $1,754. Bulls must reclaim the 20-day EMA at $1,853 to halt the slide.
$XRP broke down from a head-and-shoulders pattern, dipping below $1.77. Unless it reclaims $2.20, a deeper drop to $1.27 remains likely.
BNB found support at $520 but faces stiff resistance at $597. A fall below $500 opens the door to $460.
Solana ($SOL ) rebounded from $95, but unless bulls reclaim the $110–$120 zone, the risk of a plunge to $80 remains.
Dogecoin (DOGE) bounced off $0.14, but weakness persists unless it clears $0.17. A break below $0.14 could push it to $0.10.
Cardano (ADA) is struggling below $0.58, with a potential breakdown to $0.40 if $0.50 support fails.
UNUS SED LEO (LEO) broke below its ascending triangle pattern, invalidating the bullish setup. A fall to $8.30 is possible if $8.84 support cracks.
Macro Backdrop Still Unfavorable
The S&P 500 (SPX) is showing signs of capitulation, with the index finding temporary support near 4,884 but remaining under selling pressure. Meanwhile, the U.S. Dollar Index (DXY) bounced from key support at 101, but its overall trend remains weak.
With macro uncertainty and volatility still high, traders are advised to stay cautious and avoid excessive leverage until clear bullish momentum returns.
