Bitcoin (BTC) pierces $95,000 resistance, but the bulls are struggling to sustain the higher levels

Bitcoin (BTC) pierced the $95,000 resistance on April 28, but the bulls are struggling to sustain the higher levels.

The S&P 500 Index made a strong comeback last week and rose above the 20-day exponential moving average of 5,415. The index could reach the 50-day simple moving average of 5,623, which is likely to act as a minor hurdle. If buyers overcome it, the recovery could extend to 5,800. Sellers are expected to mount a strong defense at the 5,800 level.

Time is running out for the bears. If they want to make a comeback, they will have to swiftly pull the price back below the 20-day EMA. If they do that, the index could descend to 5,300 and then to 5,119.

The US Dollar Index plunged below the 99 level on April 21, but the bears could not maintain the lower levels. However, a minor positive in favor of the bears is that they have not allowed the price to rise above the 100.27 overhead resistance. That suggests demand dries up at higher levels. The downsloping moving averages and the relative strength index in the negative zone indicate that the bears have an edge. If the price skids below 99, the index may retest the 97.92 level.

The bulls will have to push and maintain the price above the 20-day EMA of 100.76 to indicate that the selling pressure is reducing. The index may then surge toward the 50-day SMA of 103.43.

Bitcoin continues to face stiff resistance at $95,000, but the close proximity to the crucial level increases the possibility of a breakout. The converging 20-day EMA and the RSI in the overbought zone suggest that the bulls are in control. A close above $95,000 could open the gates for a rally to $100,000. Sellers are expected to vigorously defend the $100,000 level, but on the way down, buyers will try to arrest the decline at $95,000.

This optimistic view will be invalidated in the near term if the price turns down and plunges below the 20-day EMA. That could sink the BTC/USDT pair to the 50-day SMA of $85,085.

Ether closed above the 50-day SMA of $1,792 on April 26, but the bulls could not sustain the momentum. The 20-day EMA of $1,719 is the vital support to watch out for. If the price bounces off the 20-day EMA with strength, the bulls will try to push the ETH/USDT pair toward the breakdown level of $2,111. Sellers are expected to defend the $2,111 level with all their might because a break above it may catapult the pair to $2,550.

On the downside, a break and close below the 20-day EMA suggests that the bears remain in control. The ETH/USDT pair may then descend to $1,537.

XRP turned up from the 20-day EMA of $2.15 on April 27, signaling a positive sentiment. The price could reach the resistance line, which is a crucial level to watch out for. A break and close above the resistance line indicates a potential trend change. The pair could then rally to $3.

On the contrary, if the price turns down sharply from the resistance line and breaks below the moving averages, it suggests that the bears are aggressively defending the level. That could keep the pair stuck between the resistance line and $2 for a few more days.

Buyers have managed to keep BNB above the moving averages but are struggling to start a strong rebound. The flattish 20-day EMA and the RSI just above the midpoint do not give a clear advantage either to the bulls or the bears. Buyers will have to push the price above $620 to gain the upper hand. That could open the doors for a rally to $644 and subsequently to $680.

Alternatively, a break and close below the moving averages will strengthen the bears. The BNB/USDT pair may drop to $576 and then to $566, where the buyers are expected to step in.

Solana is facing resistance in the $148 to $153 zone, but a positive sign is that the bulls have not given up much ground. The converging 20-day EMA and the RSI in the positive territory indicate the path of least resistance is to the upside. A break and close above $153 clears the path for a rally to $180.

Sellers will have to