Bitcoin rallies above $95,000 as bullish catalysts trigger heightened trading activity, sparking fresh interest among institutional investors. The resurgence in prices suggests a potential shift in marketplace dynamics, enhancing optimism
Key points: Bitcoin price pushed above $95,000, increasing the chance of a rally to $100,000. Institutional investor demand is back, suggesting that the bearish trend could be over. Select altcoins could break above their respective overhead resistance levels if Bitcoin remains strong Bitcoin ( BTC ) bulls are trying to sustain the price above $95,000, but they are likely to face significant resistance from the bears. Will buyers succeed in pushing the price toward the psychologically important level of $100,000, or is a pullback around the corner? That is the big question on the traders’ minds. A positive sign is that inflows for US spot Bitcoin exchange-traded funds have increased since April 21, per Farside Investors data. Coinbase Institutional head of strategy John D’Agostino said in a recent interview with CNBC that several institutions purchased Bitcoin in April to hedge against currency inflation and macro uncertainty as Bitcoin mirrors “the characteristics of gold. Crypto market data daily view. Source: Coin360 However, some analysts doubt the sustainability of the current Bitcoin rally. One of the red flags is that the sentiment , as measured by the Crypto Fear & Greed Index, slipped from a score of 72 out of 100 on April 23 to 60 on April 25, though Bitcoin is trading close to $95,000. Select analysts expect Bitcoin to pullback toward $87,000 . Could Bitcoin sustain above $95,000, triggering buying in altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin price prediction Bitcoin has been trading near the $95,000 level, suggesting that the bulls are holding on to their positions as they anticipate a move higher. BTC/USDT daily chart. Source: Cointelegraph/TradingView The 20-day exponential moving average ($87,437) is sloping up, and the relative strength index (RSI) is near the overbought zone, signaling that the bulls are in command. A close above $95,000 could drive the BTC/USDT pair to $100,000. Sellers will try to halt the up move at $100,000, but if the bulls do not allow the price to dip below $95,000, the prospects of a break above the overhead resistance increase. The pair may then climb to $107,000. The bears will have to yank the price below the moving averages to regain control. Ether price prediction Ether’s ( ETH ) relief rally is facing resistance at the 50-day SMA ($1,812), but a positive sign is that the bulls have not allowed the price to dip below the 20-day EMA ($1,696). ETH/USDT daily chart. Source: Cointelegraph/TradingView The 20-day EMA is flattish, but the RSI has jumped into the positive zone, signaling a slight advantage to the bulls. If the 50-day SMA is scaled, the ETH/USDT pair could reach the breakdown level of $2,111. The bears may pose a strong challenge at $2,111, but if the bulls overcome it, the pair could skyrocket to $2,550. Sellers are likely to have other plans. They will try to pull the price below the 20-day EMA. If they can pull it off, the pair could tumble toward $1,537. XRP price prediction XRP ( XRP ) has been trading near the 50-day SMA ($2.18) for the past two days, indicating that the bears are fiercely defending the level. XRP/USDT daily chart. Source: Cointelegraph/TradingView A minor positive for the bulls is that they have not allowed the price to skid below the 20-day EMA ($2.13). The bulls will again try to propel the XRP/USDT pair to the resistance line, which is a critical level to watch out for. The pair could rally to $3 if buyers pierce the resistance line. On the downside, a break and close below the 20-day EMA suggests that the bears remain in charge. The downside momentum could pick up on a break below $2. The pair may then plummet to $1.60. BNB price prediction BNB ( BNB ) turned down from $620 but is taking support at the moving averages. This suggests a change in sentiment from selling on rallies to buying on dips. BNB/USDT daily chart. Source: Cointelegraph/TradingView Buyers will try to push the price above $620. If they manage to do that, the BNB/USDT pair may rally to $644. Sellers will try to stall the up move at the $644 level, but if the bulls prevail, the pair could soar to $680. This bullish view will be invalidated in the near term if the price turns down and breaks below the moving averages. That could sink the pair to $566, indicating that the markets have rejected the breakout above the downtrend line. Solana price prediction Solana ( SOL ) is struggling to stay above the $153 level, indicating that the bears are active at higher levels. SOL/USDT daily chart. Source: Cointelegraph/TradingView The upsloping 20-day EMA ($136) and the RSI in the positive zone indicate that the bulls are in control. If buyers push and maintain the price above $153, the SOL/USDT pair could jump to $180. The moving averages are the crucial support on the downside. A break and close below the 50-day SMA ($129) suggests that the pair could consolidate between $153 and $110 for a few days. Dogecoin price prediction Dogecoin ( DOGE ) bounced off the 20-day EMA ($0.16) on April 24, indicating that the bulls are buying on dips. DOGE/USDT daily chart. Source: Cointelegraph/TradingView The DOGE/USDT pair could reach $0.21, which is a crucial resistance to watch out for. If buyers pierce the $0.21 level, the pair will complete a double-bottom pattern. This bullish setup has a target objective of $0.28. Contrarily, if the price turns down and breaks below the moving averages, the pair may remain range-bound between $0.21 and $0.14 for a while. The advantage will tilt in favor of the bears on a break below the $0.14 support. Cardano price prediction Cardano ( ADA ) closed above the 50-day SMA ($0.68) on April 23, signaling that the bears are losing their grip. ADA/USDT daily chart. Source: Cointelegraph/TradingView The 20-day EMA ($0.65) has started to turn up, and the RSI is in the positive zone, suggesting that the path of least resistance is to the upside. The ADA/USDT pair could rally to $0.83, where the bears may step in. Any pullback is expected to find support at the 20-day EMA. If the price rebounds off the 20-day EMA, it signals a bullish sentiment. Sellers will have to drag the price below the 20-day EMA to sink the pair to $0.58. Related: SUI's 73% weekly price gains top crypto market — New price record in reach? Sui price prediction Sui ( SUI ) picked up momentum after buyers pushed the price above the moving averages on April 22. SUI/USDT daily chart. Source: Cointelegraph/TradingView The rally of the past few days has pushed the RSI into the overbought territory, suggesting a minor consolidation or correction in the next few days. Any pullback is expected to find support in the zone between the 38.2% Fibonacci retracement level of $3.14 and the 50% retracement of $2.94. A shallow pullback increases the possibility of a rally to $4.25 and then to $5. Sellers will be back in the driver’s seat if they pull the SUI/USDT pair below $2.86. Chainlink price prediction Chainlink ( LINK ) has started a recovery, which is expected to face strong selling at the overhead resistance of $16. LINK/USDT daily chart. Source: Cointelegraph/TradingView If the price turns down from $16, it is expected to find support at the 20-day EMA ($13.53). A solid bounce off the 20-day EMA increases the likelihood of a break above $16. The LINK/USDT pair may then climb to the resistance line of the descending channel pattern. A break above the channel signals a potential trend change. Sellers will have to tug the price below the moving averages to regain control. The pair may then drop to $11.89 and eventually to the support line. Avalanche price prediction Avalanche ( AVAX ) is facing resistance at the overhead resistance of $23.50, but a positive sign is that the bulls have not ceded much ground to the bears. AVAX/USDT daily chart. Source: Cointelegraph/TradingView The 20-day EMA ($20.22) has started to turn up, and the RSI is in the positive territory, indicating that buyers have the edge. If the price breaks and closes above $23.50, the AVAX/USDT pair will complete a double-bottom pattern. That could open the doors for a rally to the pattern target of $31.73. Alternatively, if the price turns down and breaks below the moving averages, the pair could remain stuck inside the $23.50 to $15.27 range for a few days. This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
For those tracking the global financial landscape, especially the interplay between traditional markets and digital assets, shifts in major currency forecasts are significant. A notable development recently came from UBS, a major global financial institution, which has expressed a more bullish stance on the Canadian Dollar . This change in perspective is primarily attributed to an easing of previously looming tariff impact threats, suggesting a potentially brighter CAD forecast ahead. Understanding the forces that shape currency values is key, whether you’re trading forex or simply observing the broader economic environment that influences all asset classes, including cryptocurrencies. UBS’s updated view on the Loonie (as the Canadian Dollar is often called) provides valuable insight into how macro factors like trade policy can directly influence currency strength. What’s Driving the Positive UBS Forecast for the Canadian Dollar? UBS’s revised outlook isn’t arbitrary. It stems from a careful analysis of evolving trade dynamics, particularly concerning the relationship between Canada and its major trading partners, most notably the United States. Here’s a breakdown of the core reasons behind their more optimistic UBS forecast : Easing Tariff Tensions: The primary driver is the perceived reduction in the risk of new, significant tariffs being imposed on Canadian goods, particularly by the U.S. Past threats related to various sectors created uncertainty and weighed on the CAD. A de-escalation of these tensions removes a key overhang. Improved Economic Stability: Reduced trade friction typically supports economic stability and growth prospects for export-reliant economies like Canada. This improved outlook makes the Canadian Dollar a more attractive currency. Commodity Price Support: As a major commodity exporter, the CAD is often influenced by global commodity prices, especially oil. While not the sole factor, a stable or improving global economic picture, partly enabled by reduced trade wars, can indirectly support commodity demand and prices, offering a tailwind for the CAD. Monetary Policy Expectations: While not the focus of this specific UBS update regarding tariffs, evolving expectations around the Bank of Canada’s monetary policy also play a role in the overall CAD forecast . However, the tariff narrative is currently a significant external factor influencing the outlook. These factors collectively paint a picture of reduced external risk for the Canadian economy, leading UBS to upgrade its assessment of the Canadian Dollar ‘s potential performance. How Does Easing Tariff Impact Influence the CAD Forecast? Tariffs act like taxes on imported goods. When countries impose tariffs on each other, it can disrupt supply chains, increase costs for businesses and consumers, and reduce overall trade volume. For an export-oriented economy like Canada, access to key markets without punitive tariffs is crucial for economic health. The threat of tariffs creates uncertainty, which can deter investment and negatively impact a country’s currency value as investors become wary of potential economic headwinds. Conversely, when these threats subside, it removes a layer of risk premium that was previously priced into the currency. Consider the direct effects of a reduced tariff impact : Increased Export Certainty: Canadian exporters face fewer potential barriers and costs when selling to key markets, supporting export volumes and revenues. Improved Business Confidence: Businesses are more likely to invest and expand when the trade environment is stable and predictable. Attracting Foreign Investment: A stable economic and trade environment makes Canada a more appealing destination for foreign capital, increasing demand for the Canadian Dollar . This positive feedback loop contributes to a stronger economic outlook, which in turn supports the currency’s value. This is a core reason behind the more positive UBS forecast . What Does This Mean for the Forex Outlook and Beyond? For participants in the forex market, a bullish CAD forecast from a major institution like UBS is a significant signal. It suggests potential for CAD appreciation against other currencies, particularly those less exposed to or benefiting from similar de-escalations, or those facing their own economic challenges. While this specific update focuses on the Canadian Dollar and the tariff impact , it highlights a broader principle: global macro events profoundly influence currency markets. Traders often use such institutional forecasts as one piece of their analysis puzzle when formulating their trading strategies. For those whose primary interest is in cryptocurrencies, understanding the traditional forex outlook is still valuable. Major currency movements can impact global liquidity, investor sentiment, and the flow of capital across different asset classes. For example, a stronger CAD might reflect global risk appetite or specific regional economic health, factors that can indirectly ripple into the crypto market. Here are some potential implications: CAD Cross Pairs: Traders might look at CAD pairs like CAD/JPY, CAD/CHF, or even USD/CAD (where CAD strength would mean a falling pair) for trading opportunities based on the improved UBS forecast . Economic Barometer: The CAD is often seen as a proxy for global growth sentiment due to Canada’s commodity exports. Its strength, partly driven by reduced trade risks, could signal broader optimism. Portfolio Context: Investors with diversified portfolios holding both traditional assets and cryptocurrencies should be aware of how currency fluctuations can affect the overall value of their holdings, especially if they hold assets denominated in different currencies. The improved CAD forecast is a specific example of how macroeconomic factors translate into currency market expectations. It underscores the need for market participants to stay informed about global economic and political developments. Are There Still Risks to the CAD Forecast? While the immediate outlook from UBS is more positive due to easing tariff concerns, no currency forecast is without risk. Several factors could still impact the Canadian Dollar : Re-emergence of Trade Tensions: Geopolitical shifts or changes in trade policy direction could potentially reignite tariff threats. Global Economic Slowdown: A significant downturn in the global economy would likely reduce demand for commodities, negatively impacting the CAD regardless of tariff issues. Domestic Factors: Inflation trends, Bank of Canada policy decisions, housing market dynamics, and political stability within Canada all play a role in the currency’s performance. Commodity Price Volatility: Sharp declines in key commodity prices, like oil, could weaken the CAD. Therefore, while the UBS forecast is currently bullish, it’s essential to consider the full spectrum of potential influences on the Canadian Dollar and the broader forex outlook . Conclusion: A Brighter Horizon for the Canadian Dollar? UBS’s shift to a more bullish stance on the Canadian Dollar , driven by the easing of tariff impact fears, marks a significant positive signal for the currency. This development highlights the critical link between international trade policy and currency valuation. A reduced risk of trade barriers improves Canada’s economic stability outlook, making the CAD more attractive to investors and supporting a positive CAD forecast . For those interested in the broader financial markets, including the dynamic world of cryptocurrencies, understanding these traditional market movements provides essential context. While the UBS forecast focuses on the CAD, it serves as a reminder that macroeconomic factors and geopolitical events are powerful forces shaping asset values globally. Keeping an eye on the evolving forex outlook , especially for major currencies like the Canadian Dollar , remains a valuable part of navigating the complex financial landscape. To learn more about the latest Forex market trends, explore our article on key developments shaping the Canadian Dollar and other major currencies.
Metaplanet plans to reach 10,000 Bitcoin by 2025. The company has successfully acquired 5,000 Bitcoin in total. Continue Reading: Metaplanet Moves Closer to 10,000 Bitcoin Milestone The post Metaplanet Moves Closer to 10,000 Bitcoin Milestone appeared first on COINTURK NEWS .
Here's the next possible scenarios for SUI's breakout rally.
XRP is gearing up for a surge to $120, according to popular crypto analyst EGRAG CRYPTO. Taking to social media platform X, the analyst shared a fresh chart detailing a bullish outlook for XRP, suggesting that the cryptocurrency is retracing a path similar to its explosive 2017 rally. This time, however, the trajectory could be even more dramatic, as the chart accompanying his post outlines a long-term Elliott Wave formation that points first to $27 and eventually to a staggering $120 price tag. Echoes of 2017: XRP Retracing Cycle That Took Price To All-Time High The 2017 bull cycle is one of the most iconic periods in XRP’s history. It was during this phase that the price of XRP rallied from under $0.01 to an all-time high of $3.84, driven by a broader crypto market bubble, exchange listings, and speculation surrounding Ripple’s adoption among financial institutions. Related Reading: XRP Outflows Cross $300 Million In April, Why The Price Could Crash Further The rally followed a classic Elliott Wave impulse structure, with five distinct waves characterized by short consolidations before each major leg upward. By early 2018, the bubble had popped, and XRP, like the rest of the crypto market, entered into a prolonged bear phase. EGRAG CRYPTO’s post implies that XRP is now following a similar pattern to the one in 2017. Particularly, the analyst noted that XRP is currently in the process of forming its second wave, which is a retracement of the bullish impulse Wave 1. This impulse Wave 1 is characterized by XRP’s surge to $3.4 between Q4 2024 and January 2025. Wave 2, on the other hand, is characterized by the price correction since January, which has sent the XRP price back to trading around $2. Now, the next step is for wave 3 to begin formation. Based on traditional Elliott Wave ratios, this wave tends to extend aggressively, often measuring 161.8% of Wave 1. According to EGRAG, XRP’s price is expected to end Wave 3 above double digits sometime in summer 2025. It is at this point that the analyst predicted a top out around $27, nearly ten times its current trading price. Following that, his outlook anticipates a lengthy Wave 4 correction lasting several years, setting the stage for a final Wave 5 extension that could see XRP break into triple digits. The $120 Long-Term Target In his projection, the $27 level will mark the completion of Wave 3, followed by a Wave 4 correction that could potentially span three years. This correction would be brutal and cause the XRP price to reach a bottom around $5.50. Related Reading: XRP Price In April: The Lows, The Highs, And Final Blast-Off After this consolidation phase, the ensuing Wave 5 formation will catapult XRP to new highs again and go on the same measured move as Wave 1 or 61.8% of Wave 1 + Wave 3. If this plays out as EGRAG expects, XRP would break into triple-digit territory and ultimately peak around $120. At the time of writing, XRP is trading at $2.19, up by 2% in the past 24 hours. Reaching the $27 and $120 price targets would translate to 1,132% and 5,380% increases, respectively, from the current price. Featured image from Adobe Stock, chart from Tradingview.com
Ark Invest unveils a bold new prediction, forecasting Bitcoin could soar to $2.4 million by 2030, a statement that has sparked significant interest in the crypto market. The latest report
Ark Invest sees a path for Bitcoin to reach $2.4 million per coin by 2030. Here's why Cathie Wood's firm thinks it could surge so high.
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