Bitcoin (BTC) price rallied close to the $95000 resistance level

Bitcoin (BTC) price rallied close to the $95000 resistance level on April 23 as the cryptocurrency finds support from rising spot BTC ETF inflows

Bitcoin (BTC) price rallied to nearly touch the $95,000 resistance level on April 23 as the cryptocurrency found support from rising spot BTC ETF inflows and positive macroeconomic news in the United States.

According to Farside Investors, the funds recorded net inflows of $381.3 million on April 21 and $912.7 million on April 22.

Analysts from Standard Chartered and Intellectia AI said that institutional demand for Bitcoin ETFs and BTC’s use as a hedge against macroeconomic risk could propel the price to $200,000 in 2025.

However, not everyone is as bullish on the current rally. 10x Research pointed out that the stablecoin minting indicator, often used to gauge leveraged trading activity, was yet to return to high-activity levels, which could be a concern for the sustainability of the Bitcoin rally.

Could Bitcoin break above the $95,000 mark, pulling altcoins higher? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

Bitcoin formed a Doji candlestick pattern on April 23, indicating indecision between the bulls and the bears near the $95,000 overhead resistance.

The 20-day exponential moving average ($85,773) has started to turn up, and the relative strength index (RSI) is near the overbought zone, suggesting that the path of least resistance is to the upside. If buyers do not cede much ground to the bears, it enhances the prospects of a rally above $95,000. The BTC/USDT pair may then skyrocket to $100,000 and subsequently to $107,000.

This positive view will be invalidated in the near term if the price turns down sharply from $95,000 and plunges below the moving averages.

Ether price prediction

Ether (ETH) turned up sharply on April 22 and rose above the 20-day EMA ($1,676). Buyers will try to retain the advantage by pushing the price above the 50-day SMA ($1,830) on April 23.

If they succeed, the ETH/USDT pair could jump to the breakdown level of $2,111. Sellers will try to stall the recovery at $2,111, but if the bulls prevail, the pair could soar to $2,550. Such a move suggests that the corrective phase may be over.

Conversely, if the price turns down sharply from $2,111, it indicates that the bears are active at higher levels. That could keep the pair range-bound between $2,111 and $1,368 for a while longer.

XRP price prediction

XRP (XRP) rose above the 50-day SMA ($2.20), but the long wick on the candlestick shows selling at higher levels.

The bears are expected to defend the resistance line with all their might because a break and close above it signals a potential trend change. The XRP/USDT pair could then attempt a rally to $3.

On the contrary, if the price turns down and breaks below the moving averages, it signals that bears remain in command. The pair may then retest the $2 support, which is likely to attract buyers.

BNB price prediction

BNB (BNB) broke out of the downtrend line on April 21, but higher levels are attracting solid selling by the bears.

The BNB/USDT pair could drop to the moving averages, an important near-term support to watch out for. If the price rebounds off the moving averages with strength, the prospects of a rally to $644 and thereafter to $680 increase.

Alternatively, a break and close below the moving averages indicates that the breakout above the downtrend line may have been a bull trap. The pair then risks falling to $566.

Solana price prediction

Solana (SOL) rebounded off the 20-day EMA ($133) on April 22 and is attempting to climb above the overhead resistance at $153 on April 23.

The 20-day EMA is sloping up, and the RSI is in the positive territory, indicating an advantage to buyers. A close above $153 clears the path for a rally to $180. Such a move brings the large $110 to $260 range into play.

Time is running out for the bears. If they want to make a comeback, they will have to swiftly pull the price below the moving averages. If they do that, the SOL/USDT pair could plunge to the $120 to $110 support zone.

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