Bitcoin (BTC) is displaying early indications of a bullish turnaround as it bounces off the $80,00 support

With a notable increase in volume and a robust bounce off the $80,00 support, Bitcoin is displaying early indications of a bullish turnaround. Bitcoin has increased

Bitcoin is showing early signs of a bullish turnaround with a notable increase in volume and a robust bounce off the $82,000 support.

What Happened: Bitcoin has risen to $84,469 with a 2.34% intraday gain. The price action suggests that there may be building momentum for a wider reversal, but there is still a crucial level that needs to be broken.

The increase in trading volume is the most significant signal of the day, not just the price movement. The volume of Bitcoin has been steadily decreasing over the last few days, suggesting waning interest. However, a noticeable volume spike on the most recent candle indicates fresh buying pressure and perhaps the beginning of accumulation.

Bitcoin is currently facing resistance at the 200-day EMA (black line), a historically significant threshold that usually determines whether the cryptocurrency is in a long-term uptrend or downtrend. A clean breakout above this level, ideally accompanied by sustained volume strength, could signal the beginning of a new bullish cycle.

Further optimism is provided by the RSI's behavior, which is increasing but not yet overbought, currently at 47.3. As a result, Bitcoin has plenty of room to rise without encountering any sudden exhaustion.

To confirm a bullish reversal, Bitcoin needs to break above the 200 EMA and the next major resistance cluster, which is located between $88,000 and $89,000 and is defined by the 50 and 100 EMAs. If that happens, the door could open for a continuation toward $95,000 and beyond.

Why XRP Might Need It: While a drop below a psychological threshold like $2 might initially seem bearish, XRP's recent activity suggests otherwise.

The asset made a swift recovery after touching the historically significant 200-day EMA, indicating that a possible bullish reversal is imminent. It is an indication of a bullish reversal of the descending wedge pattern that XRP has been forming over the last few weeks. The price briefly dipped below the $2 mark on March 30, reaching as low as $2.06.

At press time, XRP was trading at $2.18 after buyers intervened, exerting strong pressure close to the 200 EMA, which resulted in a 4-point, or 38 percent, robust recovery intraday. The 200 EMA, a strong support in previous correction phases, usually signals the end of local downtrends and the beginning of fresh bullish waves.

If past trends are any indication, this most recent 200 EMA touch may serve as the basis for a fresh upward trend, especially if volume increases in tandem with the bounce.

The RSI (Relative Strength Index) has also risen above 43, indicating increasing bullish momentum and avoiding oversold territory. The 50-day EMA ($2.31) and the upper edge of the descending wedge ($2.50) are the next resistance areas to watch if XRP continues to rise.

In brief, traders may have been concerned when XRP fell below $2, but the recovery at the 200 EMA presents a more positive picture. The possibility of a long-term recovery increases as long as XRP stays above this crucial moving average, which could open the way for a breakout of the months-long decline. The next few days will be crucial to determine if this bounce has any real legs.

Ethereum's Forgotten Goal:

Ethereum is retesting the psychologically significant $2,000 level, but even with today’s 3.38% price increase, it is lagging other major assets like Bitcoin and XRP, both of which have shown more decisive signs of bullish momentum.

After recovering from recent lows, Ethereum is currently trading at around $2,015, but the chart clearly shows that ETH is still bounded by a larger downward trend.

In contrast to Bitcoin, which is pressing against its 200 EMA and seems poised for a bullish breakout, and XRP, which recovered well from the $2 support level, Ethereum is still struggling to reclaim key resistance levels.

The moving averages, particularly the 50 and 100 EMAs, continue to slope downward, indicating that bears are still in control of the long-term trend.

ETH is now approaching the next major resistance cluster, located between $2,225 and $2,255, which will be crucial for determining the next stage of the trend. If bulls fail to push through that point, Ethereum may drop back into the $1,800 range, rendering its $2,000 milestone a temporary high.

Compared to BTC and XRP, which have entered neutral or slightly bullish zones, Ethereum's RSI, currently at 41, is lower and still in bearish territory.

This lack of performance and the lower RSI values highlight the relative weakness and