By Chris Hollingworth 
Bitcoin’s 7-day volatility has hit its lowest level in 563 days, suggesting an imminent range expansion. The cryptocurrency has been consolidating near the $95,000 mark, with experts predicting a breakout above this key resistance level that could propel it to $100,000 and beyond. While the likelihood of an upward rally is high, traders are advised to exercise caution as a short-term pullback is also a possibility.
K33 Research’s head of research, Vetle Lunde, highlighted the 563-day low volatility of Bitcoin in a recent analysis. Historically, low volatility periods are often followed by significant range expansions, though the direction of the breakout remains uncertain. The current tight consolidation below a crucial resistance level enhances the chances of a bullish breakout, with many analysts anticipating an upward move in the near future.
Despite the optimistic outlook for Bitcoin, traders should remain vigilant as short-term profit-taking by buyers could trigger a temporary pullback in price. The potential breakout above $95,000 raises questions about the cryptocurrency’s future trajectory and how altcoins are positioned to react to these developments.
Bitcoin’s price action has been testing the $95,000 barrier, with buyers showing resilience against bearish pressure. The upward trend indicated by the 20-day exponential moving average and the relative strength index (RSI) in positive territory suggests a bullish bias. A decisive move above $95,000 could propel Bitcoin towards the psychological resistance at $100,000, with the possibility of further gains towards $107,000. On the downside, a retreat to the 20-day EMA may offer support, but a breach could see Bitcoin retesting the 50-day simple moving average.
Ether (ETH) is currently finding support at moving averages, although the lack of a strong bullish momentum is evident. A breakout above $1,858 could signal renewed strength, potentially driving Ether towards $2,111 and beyond. Conversely, a downturn below the moving averages may indicate a consolidation phase, with the price fluctuating between $2,111 and $1,368 for the time being.
XRP (XRP) faced resistance recently and slipped below moving averages, signaling bearish control. A continuation of the downward trend could see XRP testing crucial support at $2 and potentially dropping to $1.61. On the upside, piercing the resistance line would suggest a trend reversal, paving the way for a rally towards $3.
BNB (BNB) experienced a dip below moving averages, hinting at weakening bullish momentum. Buyers need to reclaim ground above the moving averages to maintain control, with a breakout above $620 opening the door for a rally towards $644. Overcoming the $644 resistance level could set the stage for further gains in the BNB/USDT pair.
