The cryptocurrency market remains tense amid volatility in US stock markets. Bitcoin continues to trade above $80,000 despite recent market fluctuations and changes in trade policies.
Bitcoin Price Analysis
Bitcoin's price surged above resistance levels on April 2 but later dropped sharply and broke below the 20-day exponential moving average, signaling solid selling at higher levels. If buyers can defend the $80,000 support level, it may help avert deeper declines to around $76,606.
Other Cryptocurrencies Price Analysis
Ethereum has been trading between the $1,754 support and the 20-day EMA ($1,928), with a potential test of the $1,550 level. XRP is facing pressure with the risk of breaking below the $2 support. BNB's critical levels to watch are at $575 and $559.
Outlook and Forecasts
According to analysts, Bitcoin may turn bullish if it closes above $91,000. Additionally, if it remains above $80,000, it will reflect resilience in the market. Other cryptocurrencies are under pressure, but support at key levels may help avoid deeper declines.
The cryptocurrency market remains uncertain. Analyzing current support and resistance levels will help market participants prepare for potential changes in the coming days.
