By Chris Hollingworth 
Bitcoin (BTC) has surged above the $87,000 level despite the looming US trade tariffs set for April 2. While short-term volatility may persist, analysts remain optimistic about Bitcoin’s long-term prospects.
Fidelity analyst Zack Wainwright views Bitcoin as currently being in an acceleration phase, potentially leading to a significant rally if historical patterns repeat. Wainwright predicts that $110,000 could mark the starting point for the next upward movement.
BitMEX co-founder and Maelstrom chief investment officer Arthur Hayes has suggested that a shift by the Federal Reserve towards quantitative easing could propel Bitcoin to $250,000 by the end of the year.
Analyzing the possibility of Bitcoin breaking through the $89,000 resistance level and igniting a rally in select altcoins, let’s delve into the charts of the top 10 cryptocurrencies.
### Bitcoin Price Analysis
Bitcoin has approached the resistance line, where sellers are anticipated to present a formidable challenge. The flattening 20-day exponential moving average ($85,152) and the relative strength index (RSI) slightly above the midpoint indicate weakening bearish momentum. This scenario enhances the likelihood of a rally above the resistance line, potentially propelling the BTC/USDT pair towards $95,000 and subsequently $100,000. Conversely, a sharp downturn from the resistance line and a breach below $81,000 would signal a resurgence of bearish control, potentially leading the pair to tumble to $76,606.
### Ether Price Analysis
Ether (ETH) bounced off the $1,754 support on March 31, suggesting a potential formation of a double-bottom pattern by the bulls. The 20-day EMA ($1,965) may act as a barrier to the relief rally, with a downturn from this level increasing the chances of a drop below $1,574. Alternatively, a breakthrough and close above the 20-day EMA could pave the way for a rise towards the breakdown level of $2,111. Subsequent breach of this resistance could complete a double-bottom pattern, initiating a rally towards the target objective of $2,468.
### XRP Price Analysis
XRP’s weak rebound from the crucial $2 support reflects a lack of aggressive buying interest at current levels. This raises the risk of a potential break below $2, completing a bearish head-and-shoulders pattern and potentially driving the XRP/USDT pair towards $1.27. While $1.77 may offer support, a breach is likely. On the upside, a breakthrough and close above the 50-day SMA ($2.39) could signal robust buying at lower levels, potentially leading to a rally towards the resistance line, where strong selling pressure is expected.
### BNB Price Analysis
BNB’s recovery attempt faltered at the moving averages on April 1, indicating bearish selling pressure during rallies. A potential move below $587 could drive the BNB/USDT pair towards the 50% Fibonacci retracement level of $575 and subsequently to the 61.8% retracement of $559. An upward move above the moving averages would suggest reduced selling pressure, potentially pushing the pair towards $644 and $686, where sellers may emerge.
### Solana Price Analysis
Solana (SOL) finds itself squeezed between the 20-day EMA ($132) and the $120 support, hinting at a possible range expansion in the short term. A breakout above the 20-day EMA could signify buyer dominance, potentially leading to a sustained upward move.
Keep an eye on these key levels and indicators to gauge the potential price movements in the cryptocurrency market.
**Disclaimer: This analysis is for informational purposes only and should not be construed as investment advice. Cryptocurrency prices are highly volatile and subject to market risks.**
