Bitcoin tops $78k, eyes $84k; major altcoins hit resistance

Bitcoin rose above $78,333 and traded near $79,000 after recovering from about $60,000 earlier in the recovery. The 20-day exponential moving average stood near $73,758 and the 50-day simple moving average near $70,934. Models cited by market analysts indicate a price held above $78,333 would increase the probability of a move to $84,000, while a drop below the 20-day EMA could lead to a decline toward the 50-day SMA.

CryptoQuant analyst CW8900 posted on X that the platform’s adjusted Net Unrealized Profit/Loss has turned positive and described the profile as the start of a larger rally. A CryptoQuant contributor cautioned that the Bitcoin Bull Score Index had briefly reached neutral in March 2022 before falling again, advising traders to remain watchful. Market intelligence firm Decode posted that BTC appeared positioned for a short squeeze.

Ether rebounded from the 20-day EMA at about $2,273 and faced resistance near $2,465. Analysts noted upsloping moving averages and a positive relative strength index; a clear move above $2,465 would open a path to $2,800, while a close below the 20-day EMA could push ETH toward its 50-day SMA near $2,157.

XRP rose off its moving averages and approached the downtrend line of a descending channel. Traders expect selling pressure at that line; a decisive break and hold above it could lift XRP toward $2. A rejection there would likely keep the token inside the channel.

BNB moved above $649 and tested $687. Market participants identified $687 as a key resistance, with sustained trading above that level targeting about $790. A sharp reversal that breaches the moving averages would likely extend range-bound trading roughly between $687 and $570.

Solana traded close to its short-term moving averages and needed to clear $91 to challenge $98 and, if that level is passed, $117. Dogecoin rebounded from its moving averages and could test the $0.10 level, with the next overhead target near $0.12; downside pressure would increase if DOGE falls back below $0.09.

Hyperliquid bounced off its 50-day SMA at $38.41. A flattening 20-day EMA and a neutral RSI pointed to a higher chance of range trading; a move above $45.77 would indicate trend resumption, while $34.45 sat as nearby support. Cardano reached a resistance zone around its 50-day SMA near $0.26 and a downtrend line; a sustained break could lift ADA to $0.32 and $0.37, while a failure could send it below $0.22.

Bitcoin Cash cleared its 50-day SMA near $454 and approached $486; a breakout could send BCH to about $520, while a reversal would likely keep the token range-bound. Monero closed above $382 but sellers were testing gains; a sustained hold above $382 could target roughly $462, while a close below would likely draw the price back toward the moving averages.

Market participants highlighted short-term EMAs and overhead resistance levels as key to whether the recent relief rally broadens across the market or stalls. Analysts noted that decisive closes below short-term EMAs for Bitcoin and major altcoins would weaken bullish setups and raise the risk of renewed downward pressure.