Bitcoin’s recent 10% gain has analysts predicting a potential rise to $100K by year-end, backed by strong ETF inflows. Altcoins like SUI and AVAX show positive trends, while TRUMP and TAO exhibit mixed signals as they navigate resistance levels. Investors are advised to conduct their own research before making investment decisions.
In the world of cryptocurrencies, Bitcoin seems to be on an upward trajectory, having gained over 10% in the last week alone. It’s currently flirting with resistance at the $95,000 mark, and analysts are hopeful it might hit $100,000 before the year concludes. Particularly notable is the ongoing bullish trend in Bitcoin, with expectations of an additional 40% rise by year-end.
The recent surge aligns with significant inflows into US spot Bitcoin exchange-traded funds (ETFs), totalling $3.06 billion, a figure highlighted by Bloomberg ETF analyst Eric Balchunas. It’s been noted that the speed of these flows is quite remarkable, reminiscent of a motor shifting gears in record time. In a positive view, 21st Capital co-founder Sina suggests Bitcoin could potentially climb between $130,000 and $163,000 by 2025.
In terms of technical indicators, Bitcoin now faces a critical battle between buyers, known as bulls, and sellers, or bears, near that crucial $95,000 line. A close above this level could send Bitcoin soaring towards $100,000 and possibly to $107,000. Conversely, if the price dips below the 20-day exponential moving average, we might see it fall back to levels ranging from $95,000 to $73,777, which could be significant.
Shifting focus to Sui (SUI), it’s been pushing against a barrier at around $3.90 but hasn’t convincingly moved past this point yet. However, recent shallow setbacks indicate that investors aren’t rushing to sell off. If SUI can maintain above the Fibonacci retracement level of $3.14, there’s potential for a rally towards $4.25 and possibly even $5.
On the AVAX front, it has been caught in a range between $23.50 and $15.27 of late. While buyers haven’t managed to push past $23.50, the resistance doesn’t necessarily indicate weakness. If they do break above this resistance, a double-bottom pattern could emerge with a target of $31.73. Still, a slip below the moving averages could trap it in its current range a bit longer yet.
Turning to Official Trump (TRUMP), it made a notable bounce above $12.45 on April 23. Minor pullbacks suggest a resilient buy-the-dip mentality among investors. Should buyers step up again and push past $16, TRUMP could target $17.69. If a stronger retreat occurs, however, that could signal a cooling off for short-term bulls, with critical support forming between $11.56 and $12.45.
Lastly, Bittensor (TAO) seems to have shifted momentum after breaking above a downtrend line. Yet, facing resistance at $375 will be a challenge, and the 20-day EMA ($298) could be a crucial support level during any dips. If the bulls prevail and take TAO past $375, we could see a leap towards $495. Nevertheless, a drop below the key support could signal a bearish trend reversal.
As always, it’s crucial for investors to do their homework; this article doesn’t constitute any investment advice. The cryptosphere is volatile, and thorough market research is essential before diving into trading.
