Bitcoin (BTC) failed to sustain a close above the psychological $110,000 level – a move that is believed to have triggered a wave of profit-taking from short-term traders, dragging the price back closer to $108,000. According to analyst Daan Crypto Trades, if BTC holds above $110,000, it would be a positive sign. Conversely, a break below $108,000 could deepen the current correction.
Meanwhile, some experts are still hoping for a political catalyst from the US. Specifically, President Donald Trump's Big Beautiful Bill is believed to be able to boost Bitcoin's momentum, helping this coin to conquer its historical peak. Data from Kalshi predicts that the US public debt will surpass $40,000 billion by 2025 - nearly double the $23,200 billion of 2020. In fact, past debt booms have been accompanied by strong price increases for Bitcoin. Typically, at the end of 2020, after Mr. Trump signed the COVID-19 spending package, the price of BTC increased by 38%.
While most analysts remain bullish on the medium-term outlook, a cautious view comes from Rekt Capital expert. In a recent video, he said that the current bull run could last just two to three months if Bitcoin repeats the pattern seen in 2020.
Can Bitcoin bounce from its current support level and lead altcoins to a recovery? Let’s analyze the charts of five cryptocurrencies that are sending out the strongest technical signals right now.
BTC Technical Analysis
The bulls attempted to push Bitcoin above the $110,500 resistance zone on Thursday, but the bears held firm.
BTC/USDT Daily Chart | Source: TradingView
Selling pressure has pulled the price back below the downtrend line – a negative sign. The bulls are expected to defend the moving averages area strongly. If they fail, the BTC/USDT pair could slide to $105,000, followed by the psychological support at $100,000.
Conversely, if the price bounces sharply from the moving averages, it would indicate that the bullish sentiment is taking over. In this case, the chances of a surge to the all-time high of $111,980 and then to the neckline of the inverse head and shoulders pattern around $113,500 would improve.
BTC/USDT 4-hour chart | Source: TradingView
On the 4-hour chart, the price has pulled back to the 50-period simple moving average (SMA), where the bulls are trying to halt the decline. If the price bounces from the current level and breaks the downtrend line, it will indicate buying pressure at low levels. The bulls will once again attempt to push the price above $110,500. If successful, the possibility of a further rise to $113,500 will increase.
Conversely, if the price remains below the 50-day SMA, it will be a sign of profit-taking from short-term investors. At that point, the BTC/USDT pair is at risk of falling to $105,000. This will be the support level that the bulls must defend at all costs, as a close below this level could see the price continue to slide towards $100,000.
BNB Technical Analysis
BNB bounced from the breakout zone on Wednesday and broke above the 50-day SMA at $654.
BNB/USDT Daily Chart | Source: TradingView
The bears are trying to pull the price below the moving averages, but the bulls are expected to defend this level. If the price rebounds from here and breaks above $665, the BNB/USDT pair could advance to $675. The bears may stall the upside at this level, but if the bulls gain the upper hand, the price could reach $698.
This bullish scenario would be invalidated in the short term if the price breaks below the moving average and returns within the descending channel. That would indicate that the market has rejected the breakout from the channel.
BNB/USDT 4-hour chart | Source: TradingView
On the 4-hour chart, the price has pulled back to the 50-day SMA. The 20-day EMA is flattening out and the RSI is just below the midpoint – indicating that neither side has a clear advantage.
Bulls need to push the price above $665 to gain an advantage. Then, the BNB/USDT pair could move towards $675, and then $698. Conversely, if the price breaks below the moving averages, it would indicate that bulls are weakening. Then, the price could slide to $640.
SOL Technical Analysis
The bulls’ repeated failure to clear the $159 level triggered a correction that took Solana (SOL) below the 20-day EMA ($148).
SOL/USDT Daily Chart | Source: TradingView
The flat 20-day EMA and the RSI just below the midpoint indicate a balance between supply and demand. The bulls will regain the upper hand if they can push the SOL/USDT pair above $159, opening the way for a rally to $168, then $185.
Conversely, if it closes below the 20-day SMA, it would indicate that bears have gained the upper hand. The price could then fall sharply towards the crucial support level of $140 – a price zone that bulls need to defend fiercely, as a break could send the SOL/USDT pair plunging to $126.
SOL/USDT 4-hour chart | Source: TradingView
On the 4-hour chart, the failure of the bulls to defend the 50-day SMA is a negative sign. The price could slide to $145, which is a key level to watch. If the price bounces sharply from $145, it will indicate buying pressure at the lows. The bulls will then attempt to push the price back to $159. A close above $159 would complete an inverse head and shoulders pattern with a target of $192.
Conversely, if the price breaks below $145, the pair could plunge to $137. The bulls are expected to defend the $137 level strongly as a break could see the price continue to fall towards $130.
LINK Technical Analysis
Chainlink (LINK) rose above the 20-day EMA ($13.32) on Wednesday, but the bulls could not clear the 50-day SMA ($14.09) on Thursday. This suggests that bears are still active at higher levels.
LINK/USDT Daily Chart | Source: TradingView
The LINK/USDT pair could drop to $12.73, which is a key level to watch. If the price bounces sharply from this level, the bulls will once again attempt to push the pair above the 50-day SMA. If successful, the price could surge to $15.66 and then $18.
Conversely, if the decline continues and the price breaks below $12.73, it would indicate that bears are trying to gain control of the market. A break and close below $12.73 could drag the price down to $11.
LINK/USDT 4-hour chart | Source: TradingView
The pair’s failure to sustain above the resistance line suggests that bears are trying to trap early buyers. The price could fall to $12.73, where bulls are expected to establish a strong defense. If the price bounces from this level, bulls will once again attempt to push the price above $14.10. If successful, the price could continue to rise to $15.77.
Conversely, if the price breaks and closes below $12.73, selling pressure could intensify, sending the price plunging to $11.50.
AAVE Technical Analysis
Aave (AAVE) is currently facing resistance at $286, but a positive sign is that the bulls have not let the price fall below the moving averages.
AAVE/USDT Daily Chart | Source: TradingView
The moving averages are trending up, indicating that the advantage is still with the bulls. However, the RSI is approaching the neutral zone, indicating that the bullish momentum is weakening. If the price bounces sharply from the averages, the bulls will try to push the AAVE/USDT pair above $286. If successful, the price could bounce to $325.
However, this positive view will be invalidated if the price continues to weaken and breaks below the moving averages. That would mean that the bulls have given up the initiative. The price could then drop to $240, or even $220.
AAVE/USDT 4-hour chart | Source: TradingView
The correction from $286 shows that bears are defending this area aggressively. If the price bounces from the rising trendline and breaks above the 20-EMA in the 4-hour chart, it will indicate strong buying at lower levels. The bulls will again try to push the price above $286. If successful, the price could continue to rise to $295, followed by $310.
Conversely, if the price breaks the uptrend line, it would indicate that the bulls are losing control. The price could fall to $248 – an important support zone to watch. If the $248 level is broken, the price is at risk of falling to $220.
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