Bitcoin has recently staged a strong rebound, driven by institutional buying that is pushing it close to its all-time high. If it breaks through key resistance levels, it could potentially surge beyond $111,000 or even higher. At the same time, altcoins like HYPE, BCH, and LINK are also showing active performance, with some poised to extend their gains after bouncing from support levels. However, factors such as market liquidity and short-selling pressure remain areas of concern, introducing uncertainty into the short-term trajectory.
Market Context and Bitcoin’s Momentum
Recent developments, including a ceasefire between Iran and Israel and new peaks in U.S. stock markets, have contributed to a favorable environment for Bitcoin. Sustained institutional inflows reached a new high last week, suggesting the potential for a fresh upward trend that could see Bitcoin set new records.
Last week, Bitcoin climbed over 6%, indicating strong buyer interest around the $100,000 mark. Bulls are currently working to maintain prices above $108,000 to solidify their advantage.
It’s important to note, however, that weekend trading often comes with lower liquidity, so any breakout should be interpreted cautiously. Sellers are likely to re-enter the market at the start of the week, attempting to contain prices within the $100,000 to $111,980 range.
Bitcoin’s strength has sparked buying interest in several altcoins that have rebounded from their respective support zones. Should Bitcoin achieve a new high, select altcoins may attempt to break through their overhead resistance and continue their recovery.
Analyzing Key Cryptocurrencies
Bitcoin Price Analysis
Bitcoin has been trading between its moving averages and a descending trendline. Buyers have attempted to push the price above this trendline, but sellers have held their ground.
The moving averages are gradually sloping upward, and the Relative Strength Index (RSI) is in positive territory, suggesting a slight edge for the bulls. A successful break above the descending trendline could propel the BTC/USDT pair toward $110,530, with a further rally to $111,980 possible.
Sellers are expected to mount a strong defense in the zone between the descending trendline and the neckline of an inverse head and shoulders pattern. If buyers manage to overcome this barrier, the pair could soar toward $150,492.
A reversal from the trendline followed by a drop below the moving averages would invalidate this bullish outlook in the near term. Such a move could open the door for a decline to $102,500, and potentially to $100,000.
On the 4-hour chart, the pair rebounded from the 20-day exponential moving average (EMA), but buyers failed to overcome resistance at the descending trendline. A further decline below the 20-EMA would signal weakening bullish control, possibly leading to a drop toward the 50-day simple moving average (SMA). A break below the 50-SMA could accelerate selling pressure, pushing the pair toward $100,000.
On the upside, buyers must push and sustain the price above the descending trendline to signal strength.
HYPE Price Evaluation
Hyperliquid (HYPE) dipped below the 20-day EMA ($37.14) on Thursday, but sellers could not sustain the lower levels—indicating buying interest on minor dips.
Buyers pushed the price back above the 20-day EMA on Saturday. Resistance is seen at $39.12; a break above this level could see the HYPE/USDT pair rally toward $42.50. Significant resistance is anticipated between $42.50 and $45.80.
Conversely, a drop below the 20-day EMA would suggest renewed selling pressure at higher levels. The pair could then decline to the 50-day SMA ($34.42), with a break below this level potentially leading to a fall toward $30.69.
On the 4-hour chart, the pair found support at the 50-SMA, and buyers are attempting to push the price above the nearby resistance at $39.12. A successful breakout could lead to a rise to $41, and then to $42.50.
Support levels on the downside include the 20-EMA and the 50-SMA. A break below these moving averages would signal a weakening bullish momentum, possibly leading to a decline toward $33.25 and then to the strong support at $30.69.
BCH Market Outlook
Bitcoin Cash faced selling pressure near the $500 level, but a positive sign is that buyers did not concede much ground to sellers.
Rising moving averages and an RSI in positive territory indicate that bulls are in control. This improves the chances of a break above $500. If that happens, the BCH/USDT pair could rally toward $550. Sellers may try to stall the advance at $550, but if buyers prevail, the pair could reach $625.
On the downside, the first support is at the 20-day EMA ($464), followed by the 50-day SMA ($430). A break below the 50-SMA would signal that sellers are back in command.
On the 4-hour chart, buyers are trying to sustain the price above the 20-EMA. A successful hold could lead to another attempt to break the $500 resistance. Momentum may pick up above $511.
If the price drops and sustains below the 20-EMA, it would indicate profit-taking by bulls. This could lead to a decline toward the 50-SMA, where buyers might step in again.
Chainlink Price Projection
Chainlink has held above the 20-day EMA ($13.27) over the past few days, indicating that buyers are maintaining pressure.
If the price breaks and sustains above the 20-day EMA, the LINK/USDT pair could rise toward the 50-day SMA ($14.43). Sellers are likely to defend this level vigorously, as a break above it could signal a potential trend change. The pair might then climb toward $18.
Conversely, a sharp decline from the current level or the 50-SMA would indicate that sellers are active at higher levels. A break below $12.73 could keep the pair inside a descending channel for some time.
On the 4-hour chart, buyers are attempting to push the price to the resistance line, but sellers are actively defending the $13.50 level. A drop below the 20-EMA would suggest a lack of demand at higher prices, possibly leading to a decline toward the 50-SMA.
A strong rebound from the 20-EMA would indicate bullish sentiment. The pair could then rise to the resistance line, a key level to watch. A break above it could open the way for a move toward $15.50.
Sei Price Potential
Sei gained momentum after breaking above the 50-day SMA ($0.21) on Monday and clearing the $0.29 resistance on Tuesday.
Buyers, however, could not sustain the higher levels, and the price fell back below $0.29 on Wednesday. A positive sign for the bulls is that they pushed the price back above $0.29. The 20-day EMA ($0.23) has started to turn up, and the RSI is in positive territory, suggesting that the path of least resistance is to the upside. The SEI/USDT pair could rise to $0.35 and then to $0.43.
This optimistic view would be invalidated in the short term if the price drops and breaks below the 20-day EMA. That could pull the pair down to $0.19 and then to $0.15.
On the 4-hour chart, both moving averages are sloping upward, and the RSI is in positive territory, favoring the buyers. If the price sustains above $0.30, the pair could advance to $0.33.
Sellers will try to pull the price below the 20-EMA. If they succeed, the pair could drop to $0.27 and then to the 50-SMA. Buyers are expected to defend the 50-SMA aggressively because a deeper correction could delay the recovery.
Frequently Asked Questions
What does a new Bitcoin high mean for altcoins?
A new high in Bitcoin often boosts overall market sentiment, which can benefit altcoins. Investors frequently rotate profits from Bitcoin into altcoins, potentially kickstarting a broader market rally. However, this isn’t guaranteed—each altcoin’s fundamentals and market dynamics also play crucial roles.
How can I identify a true altcoin season?
An altcoin season typically occurs when altcoins consistently outperform Bitcoin over a sustained period. You can monitor the market using tools like the Altcoin Season Index, which measures whether a significant number of altcoins are outperforming Bitcoin. 👉 Explore more strategies for tracking market cycles
What are key resistance levels in crypto trading?
Resistance levels are price points where selling pressure has historically been strong. Identifying these helps traders make informed decisions. Common methods include using moving averages, trendlines, and previous price highs. Breaking through resistance often signals continued upward momentum.
Why is institutional buying important for Bitcoin?
Institutional involvement brings large-scale capital, increased liquidity, and greater market stability. It also enhances credibility, attracting more investors. Significant institutional inflows can drive sustained price increases and reduce volatility.
How do geopolitical events affect cryptocurrency prices?
Events like conflicts or treaties can influence investor sentiment, leading to increased volatility. Cryptocurrencies sometimes act as hedges against traditional market risks, but their reaction can vary based on the event’s nature and market conditions.
What should I consider before investing in altcoins?
Research the project’s fundamentals, team, use case, and market position. Understand the tokenomics and check community engagement. Always assess market trends and be aware of the risks involved. 👉 Get advanced methods for evaluating crypto assets