- Bitcoin’s RSI at 48.55 signals weak momentum; a move above 50 may push BTC toward $90K, while failure risks a drop below $80K.
- Ethereum trades below $1,944 resistance; a reclaim could lead to $2,100, while a drop below $1,788 may trigger losses to $1,600.
- Solana’s $125 support is critical; a break below may lead to $110, while a breakout past $139 could signal recovery toward $160.
The crypto market has seen a modest recovery at the start of April, with slight increases in market cap and trading volume. The global crypto market cap is at $2.73 trillion, a 0.13% rise over the past day. Total trading volume in the last 24 hours is $78.15 billion, a 1.66% increase.
DeFi trading volume accounts for $5.51 billion, making up 7.05% of the total market volume. Stablecoins contribute, with $73.88 billion in trading volume, a 94.54% of total activity. Bitcoin dominance has increased by 0.45% over the last day, now at 61.83%.
Bitcoin Faces Resistance Near $90,000
Bitcoin is trading at $84,991.77, a decline of 0.19%. The price traded between $83,914.70 and $85,434.39 within the last 24 hours. Despite this, technical indicators suggest mixed market sentiment.
The RSI is at 48.55, with its moving average at 47.31. This places it below the neutral 50 level, indicating weak momentum but not yet in oversold levels. The MACD line is at 197.37, while the signal line is in negative territory at -866.82.
The histogram at -1,064.18 indicates nearing bearish momentum, though a bullish reversal may emerge if the MACD line crosses above the signal line. Bitcoin is in a downtrend after surpassing $100,000 in early 2025, forming lower highs and lower lows.
Support is near $80,000, with resistance at $90,000 to $95,000. If the RSI surpasses 50 and MACD turns positive, BTC could move toward $90,000. However, failure to hold current levels might push it below $80,000.
Ethereum Struggles Below Key Levels
Ethereum is trading at $1,876.54, a 1.49% decline in the past 24 hours. Technical indicators show weak momentum and ongoing volatility. Bollinger Bands show Ethereum trading below its middle band at $1,944.16.
It recently bounced off the lower band at $1,788.41, suggesting potential support. The Market Value to Realized Value (MVRV) Z-Score is at 22.81, far from historical overvaluation levels but also not in deep undervaluation territory.
Ethereum remains in a downtrend, having dropped from over $4,000 to below $2,000. Support is at $1,800, while resistance is at $1,944 and $2,099. If ETH reclaims $1,944, gains toward $2,100 may follow. However, if it falls below $1,788, a decline toward $1,700 to $1,600 is possible.
Solana Faces Support at $125
Solana reached a high of $292 in mid-January 2025 before seeing a sharp correction, dropping to $125 by April. Trading volume spiked substantially at the peak, indicating strong market activity during that period.
Solana’s 50-day moving average crossed below the 200-day moving average in early February, forming a death cross, a bearish momentum signal. The MA200, previously a support level, has now turned into resistance.
Current support is at $125, which has been tested multiple times. Resistance is at $134 and $139, aligning with the MA50 and MA200. The ongoing downtrend, together with low volume, indicates weak buying pressure.
If SOL falls below $125, further declines toward $110 to $115 could follow. A breakout above $139 might signal recovery, with potential upside toward $160. Consolidation between $125 and $139 is likely unless market volume increases.
