Bitcoin (BTC) is forming a Doji candle on the weekly chart – a typical sign of a tug-of-war between the bulls and the bears. While the short-term trend remains uncertain, analysts maintain a positive outlook on the price prospects for 2025, with expectations that Bitcoin could rise to the range of $140,000 to $270,000.
One factor supporting market sentiment is that geopolitical tensions between Israel and Iran have not triggered a wave of panic selling. According to data from Farside Investors, Bitcoin spot ETF funds in the U.S. attracted a net inflow of $86.3 million on Thursday and $301.7 million on Friday, bringing the total inflow for the week to an impressive $1.37 billion.
Notably, even though BTC's price is accumulating just below its historical peak, none of the 30 ‘bull market peak’ indicators monitored by CoinGlass are signaling a sell. On the platform X, renowned trader Cas Abbe revealed that quantitative models are currently predicting a target price in this cycle ranging from $135,000 to $230,000.
So, can Bitcoin conquer the $110,500 level and pull up altcoins? If that scenario occurs, here are the cryptocurrencies showing clear strength on the chart.
Technical analysis of BTC
Bitcoin has found support at the 50-day simple moving average (SMA) at $103,604 on Friday, but the bulls are struggling to push the price above the 20-day exponential moving average (EMA) at $106,028. This indicates that buying interest at higher price levels is still weak.
The 20-day EMA is flat and the relative strength index (RSI) is fluctuating around the neutral level, indicating that neither buyers nor sellers have the upper hand. If buyers can push the price above the 20-day EMA, the BTC/USDT pair could rise to the resistance zone of $110,530 – $111,980. The bears are expected to defend this region vigorously, but if the bulls take control, the price could soar to $130,000.
On the flip side, if the price breaks below the 50-day SMA, the important psychological level of $100,000 may be challenged. If this level is breached, the downward momentum could pull the price down to around $93,000.
On the 4-hour chart, the bears are trying to thwart the recovery right at the 20 EMA. If the price sharply reverses and breaks below the $104,000 mark, the short-term advantage will tilt towards the bears. At that point, the price could slide to $102,664, and then continue towards the $100,000 mark – where strong buying is expected.
Conversely, if the bulls push the price above the 50-day SMA, the trend could reverse, with the next target being the $110,530 area.
Technical analysis of HYPE
The bulls are struggling to keep Hyperliquid (HYPE) above the $42.50 mark, indicating that the bears are actively operating at higher price levels.
The 20-day EMA ($36.96) trending upwards indicates that the advantage is leaning towards the bulls, but negative divergence on the RSI suggests that the upward momentum is showing signs of slowing down. If the price breaks and closes above $44, the divergence signal will be invalidated, opening up the opportunity for a rally to $50.
However, if the price reverses and breaks below the 20-day EMA, it could signal profit-taking pressure from the bulls, leading to a deep correction to $32.50, or even $30.50.
Currently, the correction is getting support at the 50 SMA on the 4-hour chart, indicating that lower prices are still attracting buying interest. If the price breaks above the 20 EMA, the HYPE/USDT pair could rise to $42.78 and then to $44. The upward trend will be reinforced if the price breaks above $44.
Conversely, if the price breaks below the 50-day SMA and closes beneath this level, it will be a sign that the bulls have given up, potentially leading to a wave of selling and pushing the price back to the uptrend line. This will be an important short-term support – if this line is breached, the price could plummet to $30.50.
Technical analysis of BCH
Bitcoin Cash (BCH) bounced off the 50-day SMA ($403) on Friday; however, the bulls are facing strong resistance at the $462 level.
The upward-sloping moving average along with the RSI positioned above the neutral zone indicates that the primary trend remains upward. If buyers can overcome the $462 resistance zone, the BCH/USDT pair may target the $500 mark.
On the other hand, the 50-day SMA is an important support area to watch. If this level is breached, the price could drop to $375. This will be the area where the bulls attempt to prevent a deeper decline. If successful, the price could enter a consolidation phase in the range of $375 to $462.
Currently, the price has approached the $462 resistance level – where the bears are expected to increase pressure. If buyers can keep the price above $450, the likelihood of breaking through the $462 resistance will increase. At that point, BCH could accelerate towards $500.
Conversely, if the price is strongly rejected from the $500 level, it could reverse back to the moving averages. If the price bounces back from there, the bulls will try to push above $462 again. However, the short-term trend will lean towards the bears if the price breaks below the 50-period SMA.
Technical analysis of AAVE
Aave (AAVE) broke above the resistance level of $285 on Tuesday, but the bulls could not maintain higher prices.
The price has sharply reversed from the $325 mark on Wednesday and has now retreated to the 20-day exponential moving average (EMA) at $269. If the price strongly rebounds from the 20-day EMA, the bulls will attempt to drive the AAVE/USDT pair above the $325 mark. If successful, this pair could soar to the $380 region.
Conversely, if the price breaks below the 20-day EMA, AAVE may fall back to the uptrend line. The bulls are expected to defend this trend line vigorously. If the price reverses from the trend line and breaks above the 20-day EMA, the bulls will once again target the $325 mark.
On the 4-hour time frame, the 20-period EMA is trending downwards and the RSI has fallen into negative territory, indicating that the bears are in control. AAVE currently has support at $261, but if this level is breached, the price may continue to plunge towards the uptrend line.
The first positive signal will be when the price breaks and closes above the 20 EMA. This could open up the opportunity to rise to $291 and then $309. However, the area from $309 to $325 is expected to be where the bears will defend vigorously.
Technical analysis of OKB
OKB has been trading in a descending parallel channel for several days. The bulls attempted to push the price above the downtrend channel on Wednesday, but the bears held their ground.
A slight advantage for the bulls is that they have not let the price fall below the support level of $49, indicating that buying interest still appears whenever the price corrects. If the bulls push the price above the moving averages, the OKB/USDT pair may advance to the upper resistance level. Continuously testing a resistance level often weakens it. If the bulls break through this resistance, OKB could surge to $56 and then $60.
However, this positive scenario will be invalidated in the short term if the price reverses and breaks below the support level of $49. At that point, the currency pair may continue to be trapped in the descending parallel channel for a few more days.
The bulls are trying to initiate a rebound, but the bears are defending at the 20-period EMA on the 4-hour chart. If the price reverses and breaks below the $51 mark, it indicates that the bears are still in control of the market. At that point, OKB could plunge to the $49 threshold.
Conversely, if the price breaks above the moving averages, it signals that the bears are gradually losing control. At that point, the probability of the price rising to the resistance level will be higher — this will be a level to watch closely. If the price breaks through the resistance, it could signal a trend reversal.
