Bitcoin is at a decisive stage, attempting to breach the 200-day moving average. Analysts assess the current situation and share future forecasts.
Bitcoin’s Position
Bitcoin struggles to break above the 200-day simple moving average ($84,000), but a positive sign is that bulls have not ceded much ground to the bears. Bitget Research chief analyst, Ryan Lee, told Cointelegraph that Bitcoin needs to close the week above $81,000 to signal resilience. However, if the price falls below $76,000, selling pressure could increase. Markus Thielen from 10x Research pointed out market indecision. Meanwhile, Timothy Peterson believes a new all-time high is possible before June.
BNB Outlook
BNB began a recovery from $507, encountering resistance at the 50-day SMA ($621). The critical support to watch is the 20-day EMA ($595). If the price rebounds from this level, it suggests buying on minor dips. However, a drop below the 20-day EMA could trigger further selling, pulling the price down to $550.
Other Cryptocurrencies: TON, GT, ATOM
Toncoin surged from $2.35 to the 50-day SMA. Support at the 20-day EMA could drive further gains towards $4 or even $5. Gate Token displays a symmetrical triangle indicating indecision. A break above this level could indicate further growth. Cosmos has broken above the 20-day EMA, reducing selling pressure and opening potential growth to $6.50.
Analysts continue to watch key levels of various cryptocurrencies. The market awaits confirmation of growth to determine future directions. Investors should remain cautious while observing market changes.
