Bitcoin (BTC) has surged over 7% this week, signaling strong accumulation at lower price levels and reigniting optimism across the crypto market. According to Arthur Hayes, co-founder of BitMEX, a looming crisis in the U.S. bond market could trigger further policy responses—potentially pushing Bitcoin into a "one-way upward move." As macroeconomic uncertainty grows, investors are increasingly viewing BTC as a hedge against financial instability.
On-chain data from Glassnode highlights a robust support zone forming around $79,000, where approximately 40,000 BTC are currently held. This level is being closely watched by traders as a key floor. John Bollinger, creator of the Bollinger Bands indicator, echoed this sentiment on X (formerly Twitter), suggesting Bitcoin may be forming a “classic Bollinger Band W-bottom”—a bullish reversal pattern that, if confirmed, could pave the way for new highs.
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Market participants are also tracking the U.S. Dollar Index (DXY), which is trading below the 100 mark. A weaker dollar often correlates with stronger crypto performance, as digital assets become more attractive in times of fiat devaluation. With inflation data cooling and economic indicators showing strain, the stage may be set for a broader risk-on rally—starting with Bitcoin and potentially spilling over into select altcoins.
Bitcoin Price Analysis: Bulls Aim for $95K
On April 12, Bitcoin broke and closed above a key resistance line, marking a potential end to its correction phase. This breakout suggests that buying pressure is returning.
The 20-day Exponential Moving Average (EMA) at $82,885 has become a critical battleground. Bears may attempt to push prices below this level to regain control, which could lead to a drop toward $78,500. However, if buyers defend the 20-EMA successfully, it would signal a shift from “selling rallies” to “buying dips”—a classic bullish transition.
Currently, the 20-EMA is turning upward, and the Relative Strength Index (RSI) sits in positive territory, indicating bullish momentum. A successful retest of resistance-turned-support could propel BTC toward $89,000, with subsequent targets at $92,000 and $95,000.
A drop below the 20-EMA would invalidate the bullish outlook in the short term and could trigger further downside toward $78,500. But so long as that support holds, the path of least resistance remains upward.
HYPE Price Analysis: Momentum Building Above Key Averages
HYPE (formerly known as Hyperliquid) broke above its 50-day Simple Moving Average (SMA) at $15.14 on April 11 and briefly tested resistance at $17.35 two days later.
With the 20-day EMA now rising at $13.84 and RSI climbing to 56, buyers are in control. If bulls overcome resistance at $17.35, the HYPE/USDT pair could rally toward $21 and eventually $25.
However, if price drops below the 20-EMA, the short-term outlook turns bearish. A breakdown could send HYPE down to $12—a level likely to attract renewed buying interest.
The 4-hour chart shows HYPE holding near the 20-EMA, a crucial near-term support. A strong bounce from this level would confirm “buy-the-dip” sentiment and increase the chances of reclaiming $17.35. Success there could open the path to $21.
Conversely, failure to hold above the 20-EMA may allow bears to push price back toward the 50-SMA.
ONDO Price Analysis: Bullish Reversal in Progress?
ONDO has broken out of a descending trendline, suggesting weakening bearish pressure.
Resistance looms near $0.96, but support sits at the declining 20-day EMA ($0.83). A bounce from this level could see bulls attempt another push above $0.96. A confirmed breakout could accelerate momentum toward $1.20.
Bearish scenarios remain possible. If sellers push price below the 20-EMA, ONDO could fall to $0.79 and later $0.68.
The 4-hour chart reveals resistance between $0.93 and $0.96. Buyers must keep price above the 20-EMA to maintain control. A strong rebound from this average increases the odds of breaking above $0.96—potentially targeting $1.05 before advancing to $1.20.
A failure to hold above the 20-EMA would signal weakening demand and could lead to consolidation near the 50-SMA.
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RNDR Price Analysis: Double Bottom Formation on Horizon
RNDR recently tested resistance at $4.22—a level expected to see strong selling pressure.
The moving averages are forming a bullish crossover, and RSI has entered positive territory—favorable conditions for buyers. A breakout above $4.22 would confirm a double bottom pattern, with a measured target near $5.94.
Minor resistance lies around $5, but if momentum holds, it’s likely to be surpassed.
On the 4-hour chart, RNDR faces immediate resistance at $4.06–$4.22. Dips are likely supported by the 20-EMA. A strong bounce from this level would boost confidence in an eventual breakout.
If price sustains above $4.22, it could mark the start of a new uptrend targeting $4.60–$5. RNDR may then extend gains toward its pattern target.
Conversely, a breakdown and close below the 20-EMA would suggest bulls are losing grip—potentially leading to consolidation around the 50-SMA.
KAS Price Analysis: Bullish Setup Takes Shape
KAS broke above its 50-day SMA ($0.07) on April 12—signaling diminishing selling pressure.
The 20-day EMA has turned upward, and RSI has entered positive territory, indicating that upward momentum is building. A move above $0.08 would complete a double bottom pattern, with a projected target of $0.12.
On the downside, failure to hold above $0.07 could invalidate the bullish setup and trap KAS in a range between $0.05 and $0.08.
The 4-hour chart shows KAS pulling back from $0.08 but likely finding support at the 20-EMA. A rebound from this level could push price back toward the top of the range—where $0.08 remains a key resistance.
A decisive breakout above this level could spark a new uptrend toward $0.09 and beyond.
Frequently Asked Questions (FAQ)
Q: Is Bitcoin’s current rally driven by fundamentals or speculation?
A: The rally appears supported by both technical strength and macroeconomic factors—such as dollar weakness and bond market concerns—suggesting a mix of speculative and fundamental drivers.
Q: Which altcoins show the strongest breakout potential after Bitcoin’s move?
A: ONDO, RNDR, and KAS all show promising technical setups with rising volume and improving momentum—making them top contenders for follow-on rallies.
Q: What should traders watch for confirmation of sustained bullish momentum?
A: Key levels include BTC holding above $82,885 (20-EMA), altcoins clearing resistance with strong volume, and sustained RSI readings above 55.
Q: Can HYPE sustain its breakout above the 50-day SMA?
A: Yes—if it maintains support at the 20-EMA and breaks past $17.35 with conviction.
Q: What risks could derail the current crypto rally?
A: A sudden strengthening of the U.S. dollar, hawkish Fed commentary, or macroeconomic shocks could trigger profit-taking and short-term corrections.
Q: How important is volume in confirming these breakouts?
A: Critical—rising volume on up moves confirms genuine buying interest; low-volume rallies are more prone to reversals.
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While no investment advice is offered here, the current market structure suggests growing confidence in digital assets amid macroeconomic uncertainty. Bitcoin’s resilience sets a positive tone—and altcoins like ONDO, RNDR, and KAS may be well-positioned to benefit if momentum continues.
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