The crypto market kicked off April with cautious optimism

After a volatile end to March, Bitcoin (BTC) bounced off $81,000 lows and is now hovering just below the $85K mark

The crypto market kicked off April with cautious optimism after a volatile end to March. Bitcoin (BTC) bounced off $81,000 lows and is now hovering just below the $85K mark, while Ethereum (ETH) is defending the $1,882 level despite weak momentum. Solana (SOL), meanwhile, remains locked in a tight consolidation range—caught between fading bullish interest and indecisive volume.

This follow-up builds on yesterday’s article, which captured Bitcoin’s breakdown below $82K and Cardano’s collapse on thin volume. With fresh price action on deck and key levels being tested again, April could be anything but predictable.

Bitcoin (BTC/USD): Bulls Eye $85K, But Resistance Holds Firm

Bitcoin is recovering from weekend losses and is currently trading at $84,238 after finding support near $81,285. While the bounce looks constructive, momentum is still soft, and $85,000 remains a critical psychological and technical barrier.

Key Technical Highlights:

Bitcoin price is recovering after a recent selloff.

The recent bounce found support at the Fib level and a key demand zone, setting the stage for a potential rally.

Momentum is still weak despite the price action.

The lower part of the relevant countertrend line provides some support.

Relative Strength Index (RSI) is still in the lower half of the neutral zone, indicating that bears are still in control.

Outlook

A daily close above $85,000 could open the door to $91K. However, failure to break higher may invite a fresh test of $81K and, potentially, deeper downside.

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Related: Bitcoin futures chart shows the ‘real’ story of BTC price action in March

Ethereum (ETH/USD): $1,882 Level in Focus as Bulls Try to Stabilize

Ethereum is quietly holding the $1,880 area after bouncing from strong support at $1,756. MACD shows a shallow bullish shift, but overall sentiment remains fragile, and bulls need to defend current levels with conviction.

Key Technical Highlights:

Ethereum price is hanging onto the lower part of the relevant countertrend line.

The recent bounce found support at the Fib level and a key demand zone.

Momentum is still weak despite the price action.

MACD is showing a slight bullish shift.

RSI is still in the lower half of the neutral zone, indicating that bears are still in control.

Outlook

ETH needs a move above $1,996 to reset the short-term trend. A close below $1,756 would likely accelerate bearish momentum toward the $1,600 zone.

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Related: Despite rocky start, crypto futures volume in 2024 already outpaces 2023

Solana (SOL/USD): Sideways Drift Below $130 Suggests Weak Bullish Momentum

Solana continues to chop sideways, currently trading around $128.92. The range between $127 and $139 has capped price action for the last two weeks, with no clear breakout in sight. MACD and RSI both reflect indecision.

Key Technical Highlights:

Solana price is trading in a familiar consolidation range.

The price is now testing the lower boundary of the range.

Momentum is still weak despite the recent bounce.

MACD is showing a lack of directional trend.

RSI is still in the lower half of the neutral zone, indicating that bears are still in control.

Outlook

Solana must break above $139.03 to trigger fresh bullish momentum. Until then, expect continued chop, with risks skewed to the downside on a break of $127.

Final Thoughts: Caution Still Rules—But the Charts Are Talking

After yesterday’s selloff dragged BTC below $82K and pushed Cardano to the brink, today’s mild recovery feels more like a sigh of relief than a true turnaround. Bitcoin is still flirting with resistance, Ethereum is hanging on, and Solana is, frankly, waiting for a reason to move.

April has just begun—and it’s already giving traders a reason to stay glued to the charts. Whether you’re scalping the next breakout or managing macro-driven positions, remember this: it’s not just about price—it’s about timing, levels, and conviction. Keep your stops tight, your bias neutral, and your coffee strong. The halving may be weeks away, but the volatility? That’s already here.