Bitcoin ended April on a strong note, breaking above the $78,000 mark and delivering a monthly gain close to 12%. Market focus has quickly shifted to $84,000 — analysts say if buyers can solidify $80,000 as support and clear the $79,500 resistance, that level becomes the next logical target.
Is $84,000 Next? Futures Rally Raises Caution
CryptoQuant's latest report throws cold water on the enthusiasm: the uptrend has been primarily driven by futures investors, while spot market demand is waning. The firm recalls a similar pattern in 2022, when a surge in futures trading paired with declining spot buying preceded a market correction. Without renewed spot interest, the rally may lack a sustainable foundation.
On the technical front, Bitcoin faces near-term resistance around $79,500. A breakout could send prices toward $84,000. Conversely, a slip below the 20-day moving average at $75,814 may trigger a pullback to $72,362.
Altcoins: Ethereum Holds $2,207, XRP Stuck in a Range
Ethereum found support at its 50-day SMA ($2,207), but momentum indicators show weakness — the 20-day MA is flat and the RSI sits in neutral territory. A breakdown below the 50-day MA could open lower levels; on the upside, $2,465 is the next target.
XRP has been trading in a tight band between $1.27 and $1.61. The 20-day MA ($1.39) is sloping downward, and the neutral RSI gives sellers a slight edge. A drop below $1.27 would force bulls to regroup; reclaiming the averages could trigger a rally toward $1.61.
Binance Coin slipped below its moving averages, but sellers failed to capitalize fully. If buyers recapture the averages, resistance at $654 and $687 come into focus.
Solana is trying to hold above $82.65 amid significant selling pressure. A break below could lead to $76 and $67, while consolidation above $82.65 sets the stage for a test of $90.73, and a clear move beyond that opens the door to $98.
Dogecoin Holds $0.10, BCH and XMR Stage Strong Bounces
Dogecoin bulls are defending the $0.10 level aggressively. Staying above this threshold could propel the price toward $0.12, $0.14, and possibly $0.16. A dip below the moving averages would likely result in a consolidation range between $0.09 and $0.12.
Bitcoin Cash rebounded sharply from $443, with the $453 resistance likely a minor hurdle. A break above that could fuel a rally to $486 and $520. However, a strong rejection at $486 might lead to an extended sideways phase.
Monero turned positive again with support at the 20-day MA ($366). Bullish RSI readings and upward-sloping moving averages suggest a clear path for gains. Sustained moves above $406 could drive Monero toward $500; otherwise, consolidation between $302 and $406 remains likely.
Hyperliquid fell below its 50-day MA ($39.84), but buyers stepped in at lower levels. Recapturing the 20-day MA ($40.85) would bring targets of $43.76 and $45.77 into play. A drop below $38.70 again could lead to further declines to $37.77 and $34.45.
Cardano is clinging to its moving averages, signaling a possible near-term trend reversal. A breakout above its descending trendline would pave the way to $0.32 and then $0.37. Otherwise, the token may continue to move sideways within its channel.