Bitcoin (BTC) has risen roughly 1% for the week, indicating a balance between supply and demand. Analysts expect a quiet easter weekend but are divided about the next directional move in Bitcoin.

Network economist Timothy Peterson said that the US High Yield Index Effective Yield has gained over 8%. There have been 38 such instances since 2010, and Bitcoin has risen 71% of the time three months later. Bitcoin recorded a median gain of 31% and the worst loss of -16%. Based on historical data, Peterson anticipates Bitcoin to trade between $75,000 and $138,000 within 90 days.

Not everyone shares a bullish view. Bloomberg’s Senior Commodity Strategist Mike McGlone said in a post on X that Bitcoin and the S&P 500 Index may drop toward their respective 200-week simple moving average, which historically acts as a floor during major corrections. Bitcoin’s 200-week SMA is close to $46,000.

What are the critical support and resistance levels in Bitcoin? What cryptocurrencies may rally if Bitcoin breaks above its overhead resistance?

Bitcoin price analysis

Bitcoin has stayed above the 20-day exponential moving average ($83,704) for the past several days, but the bulls have failed to challenge the 200-day simple moving average ($88,098).

The failure to start a rally could put pressure on the BTC/USDT pair in the near term. If the price turns down and breaks below the 20-day EMA, it suggests that the bulls have given up. That opens the gates for a drop to $78,500 and subsequently to the vital support at $73,777.

If buyers want to prevent the downside, they will have to swiftly push the price above the 200-day SMA. That indicates the corrective phase may be over. The pair may surge to $95,000 and eventually to the psychological level of $100,000.

The pair has been trading inside a tight range between $83,000 and $86,000. Failing to break above the overhead resistance may have tempted the short-term bulls to book profits, pulling the price below the moving averages. Trading inside the range is likely to remain random and volatile.

A break and close below the range could start a downward move to $80,000 and then to $78,500. On the other hand, a break and close above $86,000 could propel the pair to $89,000.

BNB price analysis

BNB (BNB) is facing resistance at the downtrend line, but a positive sign is that the bulls have not ceded ground to the bears.

The moving averages have flattened out, and the RSI is near the midpoint, indicating a balance between supply and demand. If buyers drive the price above the downtrend line, the BNB/USDT pair could rally to $644.

Contrary to this assumption, if the price turns down sharply from the downtrend line, it signals that the bears are active at higher levels. A break below $576 could keep the pair inside the triangle for some more time.

The pair has reached the downtrend line, where the bears are expected to pose a strong challenge. The crucial support on the downside is the 50-SMA and then $576. If the price rebounds off the support, it indicates buying on dips. That increases the likelihood of a break above the downtrend line. The pair may then climb to $620.

On the contrary, a break and close below $576 signals that the buyers have given up. That could pull the price down to $566, extending the stay inside the triangle for a while longer.

Hyperliquid price analysis

Hyperliquid (HYPE) rose and closed above the $17.35 overhead resistance on April 19, but the bulls are facing selling at higher levels.

If the price turns up from $17.35, it suggests that every minor dip is being bought. That clears the path for a rally to $21 and thereafter to $25.

Alternatively, a break and close below $17.35 signals that the bears are trying to trap the aggressive bulls. The next support on the downside is the 20-day EMA ($15.32). If the price rebounds off the 20-day EMA, the bulls will again try to overcome the obstacle at $17.35.

The optimistic view will be negated in the near term if the HYPE/USDT pair turns down and breaks below the moving averages.

The pair has dropped to the breakout level of $17.35. If the price rebounds off $17.35 and rises above $18.54, it signals that the bulls have flipped the level into support. That enhances the prospects of a rally to $21.

Conversely, if the price skids below $17.35, it suggests that the bears are trying to regain control. The 50-SMA is the critical support to watch for on the downside because a break below it indicates that the bulls are losing their grip. The pair may then descend to $14.65.

Related: Bitcoin gets $90K short-term target amid warning support ‘isn’t safe’

Bittensor price analysis

Bittensor (TAO) broke above the moving averages and has reached the downtrend line, where the bears are expected to mount a strong defense.

If the price turns down from the downtrend line, the TAO/USDT pair is likely to find support at the 20-day EMA ($249). A solid bounce off the 20-day EMA improves the prospects of a rally above the downtrend line. The pair could then surge to $360.

Contrarily, if the price turns down and breaks below the 20-day EMA, it suggests that the bears remain in control. The pair may then slump to the $222 support, where the buyers are expected to step in.

The RSI has risen into the overbought zone, suggesting a short-term pullback is possible. If the price rebounds off the 20-EMA, it signals a positive sentiment. That increases the possibility of a break above the downtrend line. There is minor resistance at $313, but it is likely to be crossed.

Contrarily, a break and close below the 20-EMA indicates that the short-term buyers are booking profits. That may pull the pair to the 50-SMA.

Render price analysis

Render (RNDR) has broken out of the overhead resistance at $4.22, signaling that the bulls are attempting a comeback.

A close above the $4.22 level will complete a bullish double-bottom pattern. There is resistance at $4.83, but it is likely to be crossed. The RNDR/USDT pair could then travel toward the pattern target of $5.94.

The 20-day EMA ($3.72) is the crucial support to watch out for on the downside. A break and close below the moving averages indicates that the markets have rejected the breakout above $4.22. That could open the doors for a drop to the support at $2.50.

The pair has cleared the overhead hurdle at $4.22, indicating an advantage to buyers. However, the bears are unlikely to give up easily and will try to pull the price back below the breakout level. If the price rebounds off $4.22 with strength and rises above $4.48, it signals that the bulls have flipped the level into support. The pair may then start an up move toward $5.

Instead, if the price turns down and breaks below the moving averages, it suggests that the breakout may have been a bull trap. The pair may then drop toward the critical support at $3.60.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.