Bitcoin Bulls Push Price Above $87,000 Amidst Impending US Trade Tariffs
Bitcoin (BTC) bulls have driven the price above the $87,000 level, even as US trade tariffs are set to take effect on April 2. While Bitcoin may experience volatility in the near term, analysts remain optimistic about its long-term prospects.
According analyst Zack Wainwright, Bitcoin is currently in an acceleration phase, which “can conclude with a sharp, dramatic rally” if history repeats itself. If that occurs, Wainwright expects $110,000 to be the starting base of the next leg of the uptrend. > [Bitcoin Price Phases: Navigating Bitcoin’s Volatility Trends](https://www.fidelitydigitalassets.com/research-and-insights/bitcoin-price-phases-navigating-bitcoins-volatility-trends?utm_source=chatgpt.com)
BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes stated in a post that if the Federal Reserve pivots to quantitative easing, then Bitcoin could rally to $250,000 by year-end.
Could in select altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin Price Analysis
Bitcoin has risen close to the resistance line, where sellers are expected to pose a solid challenge.
The flattening 20-day exponential moving average ($85,152) and the relative strength index (RSI) just above the midpoint signal that bears are losing their grip. This improves the prospects of a rally above the resistance line. If that happens, the BTC/USDT pair could climb to $95,000 and eventually to $100,000.
Alternatively, the price turns down sharply from the resistance line and breaks below $81,000, it will suggest that bears are back in control. The pair may then tumble to $76,606.
Ether Price Analysis
Ether (ETH) rebounded off the $1,754 support on March 31, signaling that bulls are attempting to form a double-bottom pattern.
Bears will try to stall the relief rally at the 20-day EMA ($1,965). If the price turns down from the 20-day EMA, the possibility of a break below $1,754 increases. The ETH/USDT pair may then collapse to $1,550.
Conversely, a break and close above the 20-day EMA opens the doors for a rise to the breakdown level of $2,111. If buyers pierce this resistance, the pair will complete a double-bottom pattern, initiating a rally to the target objective of $2,468.
XRP Price Analysis
XRP’s (XRP) weak bounce off the crucial $2 support suggests a lack of aggressive buying by bulls at current levels.
This heightens the risk of a break below $2. If that happens, the XRP/USDT pair will complete a bearish head-and-shoulders pattern. This negative setup could start a downward move to $1.27. There is support at $1.77, but it is likely to be broken.
On ($2.39) suggests solid buying at lower levels. The pair may then rally to the resistance line, where bears are expected to mount a strong defense. A break and close above the resistance line signals a potential trend change.
BNB Price Analysis
BNB’s (BNB) recovery attempt stalled at the moving averages on April 1, indicating that bears are selling on rallies.
Bears will try to strengthen their position by pulling the price below $587. If they succeed, the BNB/USDT pair could descend to the 50% Fibonacci retracement level of $575 and later to the 61.8% retracement of $559. The deeper the pullback, the greater the time needed for the pair to recover.
A break above the moving averages is the first sign that selling pressure has reduced. The pair may rally to $644 and then to $686, which is likely to attract sellers.
Solana Price Analysis
Solana (SOL) is getting squeezed between the 20-day EMA ($132) and the $120 support, signaling a possible range expansion in the short term.
If the price breaks and closes above the 20-day EMA, it suggests that buyers have overpowered sellers. The SOL/USDT pair may rise to the 50-day SMA ($145) and, after that, to $180.
This positive view will be invalidated in the near term if the price turns down from the moving averages and breaks below $120. That could pull the price to $110, where buyers are expected to step in.
Dogecoin Price Analysis
Dogecoin (DOGE) remains pinned below the 20-day EMA ($0.17), indicating that bears continue to sell on minor rallies.
The first sign of strength will be a break and close above the 20-day EMA. The DOGE/USDT pair may climb to $0.21, which could