Bitcoin must flip $80,000 as altcoins face resistance

Bitcoin rose above $78,000 following an 11.87% gain in April. Market technicians say selling pressure could appear between the True Market Mean at $78,000 and the short-term holder cost basis near $79,000. Turning $80,000 into support would allow a move toward $84,000, traders say.

U.S. spot bitcoin exchange-traded funds recorded $1.97 billion of inflows in April, according to SoSoValue data. CryptoQuant warned that the April advance was driven mainly by futures activity while spot demand contracted, writing that ‘the market’s marginal buyer was speculative, not fundamental’ and noting a similar setup preceded a downturn in 2022.

Technical indicators show bitcoin rose from the 20-day exponential moving average, near $75,814, indicating buying on recent dips. Immediate resistance is near $79,500; a sustained break above that level would provide a route to $84,000. If bitcoin falls below the 20-day EMA, the next support levels are the 50-day simple moving average at about $72,362 and a lower trendline.

Ether is holding near its 50-day simple moving average of roughly $2,207. The 20-day EMA has flattened and the relative strength index is close to neutral. If ether drops below the 50-day SMA, traders will watch the channel’s lower support. Remaining above the 20-day EMA would leave room for a move to $2,465 and the channel’s upper resistance.

XRP is trading in a $1.27 to $1.61 range. The 20-day EMA around $1.39 has started to tilt down and the RSI sits near the midpoint. A close above $1.61 would indicate a trend change; failure to reclaim the moving averages could send XRP back toward $1.27.

BNB slipped below its moving averages but buyers have defended lower levels. A recovery above the averages could target $654 and then $687. A break below $610 would likely push price toward $570. Solana is testing support at $82.65; a loss of that level could see $76 and, if breached, $67. A move above the moving averages could keep SOL trading between $82.65 and $90.73, with a close above $90.73 opening a retest of $98.

Dogecoin avoided a drop below $0.10 and is positioned to test $0.12; a rally above $0.12 would point to $0.14 and $0.16. Hyperliquid slipped under its 50-day SMA near $39.84 but produced a long lower wick that shows buying interest; bulls are working to lift price above the 20-day EMA near $40.85 toward a $43.76–$45.77 resistance zone and then $50. Failure to hold $38.70 could trigger declines to $37.77 and $34.45.

Cardano is trading near its moving averages and could push above its downtrend line; a move higher would target $0.32 and $0.37, while a drop below $0.22 would invalidate the near-term bullish case. Bitcoin Cash is defending $443 and may clear the 50-day SMA around $453 on the way to $486 and then $520 if buying continues. Monero bounced from the 20-day EMA near $366; a sustained breakout above $406 could reach $500, while failure to hold could keep XMR between $302 and $406.

Overall market direction in the short term depends on whether bitcoin can flip $80,000 into support and whether spot demand increases to match futures-driven flows. CryptoQuant’s note about speculative marginal buyers highlights a risk that flows could change if speculative interest recedes.