Bitcoin (BTC) price pushes above $95,000, increasing the chance of a rally to $100,000

Bitcoin price pushed above $95000, increasing the chance of a rally to $100000. Institutional investor demand is back, suggesting that the bearish trend could be over.

Key Points:

* Bitcoin price pushed above $95,000, increasing the chance of a rally to $100,000.

* Institutional investor demand is back, suggesting that the bearish trend could be over.

* Select altcoins could break above their respective overhead resistance levels if Bitcoin remains strong

Bitcoin (BTC) bulls are trying to sustain the price above $95,000, but they are likely to face significant resistance from the bears. Will buyers succeed in pushing the price toward the psychologically important level of $100,000, or is a pullback around the corner? That is the big question on the traders’ minds.

A positive sign is that inflows for US spot Bitcoin exchange-traded funds have increased since April 21, per Farside Investors data. Coinbase Institutional head of strategy John D’Agostino said in a recent interview with CNBC that several institutions purchased Bitcoin in April to hedge against currency inflation and macro uncertainty as Bitcoin mirrors “the characteristics of gold.

However, some analysts doubt the sustainability of the current Bitcoin rally. One of the red flags is that the sentiment, as measured by the Crypto Fear & Greed Index, slipped from a score of 72 out of 100 on April 23 to 60 on April 25, though Bitcoin is trading close to $95,000. Select analysts expect Bitcoin to pullback toward $87,000.

Could Bitcoin sustain above $95,000, triggering buying in altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin has been trading near the $95,000 level, suggesting that the bulls are holding on to their positions as they anticipate a move higher.

The 20-day exponential moving average ($87,437) is sloping up, and the relative strength index (RSI) is near the overbought zone, signaling that the bulls are in command. A close above $95,000 could drive the BTC/USDT pair to $100,000.

Sellers will try to halt the up move at $100,000, but if the bulls do not allow the price to dip below $95,000, the prospects of a break above the overhead resistance increase. The pair may then climb to $107,000. The bears will have to yank the price below the moving averages to regain control.

Ether price prediction

Ether’s (ETH) relief rally is facing resistance at the 50-day SMA ($1,812), but a positive sign is that the bulls have not allowed the price to slip below the 20-day EMA ($1,696).

The 20-day EMA is flattish, but the RSI has jumped into the positive zone, signaling a slight advantage to the bulls. If the 50-day SMA is scaled, the ETH/USDT pair could reach the breakdown level of $2,111. The bears may pose a strong challenge at $2,111, but if the bulls overcome it, the pair could skyrocket to $2,550.

Sellers are likely to have other plans. They will try to pull the price below the 20-day EMA. If they can pull it off, the pair could tumble toward $1,537.

XRP price prediction

XRP (XRP) has been trading near the 50-day SMA ($2.18) for the past two days, indicating that the bears are fiercely defending the level.

A minor positive for the bulls is that they have not allowed the price to skid below the 20-day EMA ($2.13). The bulls will again try to propel the XRP/USDT pair to the resistance line, which is a critical level to watch out for. The pair could rally to $3 if buyers pierce the resistance line.

On the downside, a break and close below the 20-day EMA suggests that the bears remain in charge. The downside momentum could pick up on a break below $2. The pair may then plummet to $1.60.

BNB price prediction

BNB (BNB) turned down from $620 but is taking support at the moving averages. This suggests a change in sentiment from selling on rallies to buying on dips.

Buyers will try to push the price above $620. If they manage to do that, the BNB/USDT pair may rally to $644. Sellers will try to stall the up move at the $644 level, but if the bulls prevail, the pair could soar to $680.

This bullish view will be invalidated in the near term if the price turns