The cryptocurrency market continues to recover from a sharp decline. The price of Bitcoin has already risen by 15% from its last low of $75,000 and is now trading below $86,000. Even though Bitcoin ETFs lost almost $708 million last week. But Michael Saylor said that his company Strategy acquired another 3,459 BTC. The company now has 531,644 BTC on its balance sheet, which is equivalent to more than 2.5% of the total BTC supply. In addition, there was not entirely positive news. The OM token of the MANTRA project fell by more than 90% in one day. The company said that the fall was not due to problems with the project, but to the closure of long positions by traders who expected continued growth. Such a drop in prices is comparable in scale to the fall of the FTT token of the FTX crypto exchange. In addition, cryptocurrency exchanges Binance and KuCoin have temporarily suspended withdrawals due to reports of problems with their data center provider Amazon Web Services (AWS). It is possible that this news will continue to impact the cryptocurrency market as new facts emerge. What to expect from Bitcoin – let’s look further…
Bitcoin (BTC) — after its fall to $75,000, Bitcoin (BTC) formed a reversal pattern “double bottom”. Therefore, it was expected that the BTC price could rise to the $85,000 – $87,000 zone. The latest impulse movement resembles the fact that another pattern “initial diagonal” has now formed. This implies that a corrective movement of about 30% from the maximum of the figure in the form of a regular zigzag should be expected soon, and then – continued growth. The probable scenario now will be growth to $87,000, and then (or from current levels) a decline will begin, with the aim of testing the main support level of $82,000. If the price stays above this level, then the growth will continue to $92,500. The moving average MA 200 on the 1d timeframe is now near the $87,600 level. This is another factor in favor of a correction from the $87,000 area. Until Bitcoin consolidates above this level and the US and China reach an agreement on mutual trade duties, the risk of continued decline in risky asset prices remains. In the event of negative news, the Bitcoin price may return to the $75,000 and $70,000 levels, which are the interest zone for put options on the Derebit exchange. If the US and China reach an agreement, investor fears about a recession will decrease, and the Fed will be able to lower the interest rate. On such a positive note, the BTC price will be able to rise to $92,500 and even continue to grow towards $100,000 per BTC.
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Technical analysis of BTC and altcoins for 04/15/2025
Ethereum (ETH) — the situation on Ether has not changed. The ETH price continues to trade near the resistance level of $1600. If buyers fix the price above this level, then Ether will be able to rise to the next resistance of $1800 and $2100. As was said earlier, the $1500 level is key, because from the fall of $2022 to the fall of 2023, the Ether price was in accumulation and traded near it, bouncing back and forth for a long time. Therefore, while Ethereum is trading above it, this is also a positive factor for growth towards the indicated levels.
In a pair with Bitcoin, Ether has been in a downward trend for 950 days. Now in the ETH/BTC pair, Ether is trading in the strong support zone of 0.019, and the market bottom in 2019 was the level of 0.017. The RSI indicator on the daily timeframe fell into the zone of strong oversold. Therefore, as expected, a slowdown in the decline of Ether relative to Bitcoin is now observed. It is possible that a correction and growth to the level of 0.028 in the pair with Bitcoin and to the levels of $1800 and $2100 in the pair with USDT will begin soon. But while the price is below the level of $1600, we should expect accumulation, or continued decline towards $1400. Until a convergence is formed on the RSI indicator on the daily timeframe.
Ripple (XRP) — the coin is trading above the important resistance level of $2.1. The positive factor is that the price is above the moving average MA 200 on the 1D timeframe, which is now around $1.9. The resistance is the moving average MA 50 near $2.243. If Bitcoin starts a correction now, then XRP will show a decline from MA50 on the daily timeframe. To test the moving average MA200, which will act as support. If the price stays above, then the growth will continue towards $2.5. But if the price falls sharply below the moving average and consolidates below $2.1 on negative news, then the decline will accelerate.
Solana (SOL) — the price is currently holding above the support level of $128. If buyers continue to accumulate above the level, this will be a sign of an impulse move up to the level of $176. If the market starts to correct downwards, the support level will be $120. If the price holds above, the coin will continue to grow to the designated level of $176. But if sellers sharply drop the price below $120 and consolidate below the level, in this case the decline will accelerate. And it is possible that the price will once again test levels below $100.
Binance Coin (BNB) — within the forecast, the coin formed an “inverted head and shoulders” pattern. For now, the coin may begin to form an accumulation between the levels of $575 and $594, where $594 is the border level. If the price consolidates above it, then we should expect continued growth to the resistance level of $605 and then to the moving averages MA50 ($602), MA200 ($633) and MA100 ($635), in the area of which the “neck of the head and shoulders” line will pass. That is, the resistance line. From which the price will continue to decline rapidly, or continue to grow if it consolidates above it. The price may also bounce down from the $594 level.
Trump (TRUMP) — as expected, if the price of the memcoin consolidated above $8 over the weekend, it began to grow towards $9. Buyers raised the price to $8.78, after which a correction began after the impulse movement. Now the memcoin is again testing the $8 zone, which was the support before the weekend. Therefore, if buyers keep the price above it, then the growth will continue to $9 and, possibly, to the resistance at $10. But if the price falls below $8, in this case the decline will continue to $7. If negative news appears, then the memcoin may also update the last minimum.
Disclaimer: This information is the author’s opinion only and may not coincide with the opinion of other analysts. Technical market analysis is not financial advice or a call to action. Technical analysis is not an individual investment recommendation. The financial instruments or transactions mentioned may not correspond to your investment profile and investment goals/expectations. It is solely your responsibility to determine whether a financial instrument/transaction/product suits your interests, goals and risk tolerance.
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