Bitcoin holds steady near $95K as traders await key U.S. economic data, with broader crypto markets showing mixed signals. While Ethereum eyes a breakout above $1,861, XRP and Chainlink navigate crucial support and resistance levels that could define their next moves.

KEY HIGHLIGHTS 

• Bitcoin Holds Steady Near $95K Before U.S. Data
• Ethereum Eyes Breakout Above $1,861 Resistance Level
• XRP Retests $2.20 Support After Recent Breakout
• Chainlink Consolidates Near $15 With Bullish Signals

BITCOIN: Holds Steady at $95K as Rally Pauses Ahead of Key U.S. Economic Data

Market Summary

Bitcoin edged slightly higher on Wednesday, stabilizing near recent highs. The recent bullish rally, driven by institutional accumulation—especially from Strategy—and optimism surrounding regulatory developments, has momentarily paused.

Factors contributing to this consolidation include:

• Anticipation of critical U.S. economic data
• Lingering concerns over trade tariffs
• Rising demand for Bitcoin ETFs

Investors are watching closely for upcoming economic releases, including GDP and inflation figures, which are likely to influence Bitcoin’s next move.

Technical Overview

Moving Averages

• Exponential Moving Averages (EMA):
• MA 10: 92,919.99 – Bullish
• MA 20: 90,243.04 – Bullish
• MA 50: 88,124.51 – Bullish
• Simple Moving Averages (SMA):
• MA 10: 93,642.20 – Bullish
• MA 20: 89,051.93 – Bullish
• MA 50: 85,679.17 – Bullish

Indicators

• RSI: 67.08 – Buy Zone (Bullish)
• Stochastic Oscillator: 91.68 – Buy Zone (Neutral)

Key Levels

• Resistance: R1 – 92,792.63 | R2 – 97,475.46
• Support: S1 – 77,632.94 | S2 – 72,950.11

Market Sentiment & Trade Idea

• Overall Sentiment: Bullish
• Direction: Buy
• Trade Suggestion:
• Entry (Limit Buy): 93,032
• Take Profit: 97,000
• Stop Loss: 91,031

ETHEREUM: Approaches Key Resistance at $1,861

Market Summary

Ethereum has been consolidating after a significant gain of nearly 15% earlier this week. The asset is testing the $1,861 resistance, and a strong close above this level may trigger a bullish continuation toward $2,000. On the flip side, a break below $1,700 could open the door to further downside.

Technical Overview

Moving Averages

• Exponential:
• MA 10: 1,765.65 – Bullish
• MA 20: 1,738.23 – Bullish
• MA 50: 1,861.18 – Bearish
• Simple:
• MA 10: 1,771.38 – Bullish
• MA 20: 1,683.95 – Bullish
• MA 50: 1,790.11 – Bullish

Indicators

• RSI: 55.96 – Buy Zone (Bullish)
• Stochastic Oscillator: 83.17 – Buy Zone (Neutral)

Key Levels

• Resistance: R1 – 2,343.13 | R2 – 2,528.84
• Support: S1 – 1,741.92 | S2 – 1,556.21

Market Sentiment & Trade Idea

• Overall Sentiment: Bullish
• Direction: Buy
• Trade Suggestion:
• Entry (Limit Buy): 1,744.5
• Take Profit: 1,915.0
• Stop Loss: 1,674.6

RIPPLE (XRP): Closes Above $2.23 Resistance, Eyeing Further Gains

Market Summary

XRP broke through the $2.23 resistance and is now retesting support at $2.20. If this level holds, upside momentum may resume, targeting the $2.50 mark and potentially $3.00. Failure to maintain above $2.20 could lead to a pullback to $1.96.

Technical Overview

Moving Averages

• Exponential:
• MA 10: 2.2083 – Bullish
• MA 20: 2.1745 – Bullish
• MA 50: 2.2064 – Bullish
• Simple:
• MA 10: 2.2117 – Bullish
• MA 20: 2.1500 – Bullish
• MA 50: 2.1927 – Bullish

Indicators

• RSI: 55.20 – Buy Zone (Bullish)
• Stochastic Oscillator: 67.34 – Buy Zone (Neutral)

Key Levels

• Resistance: R1 – 2.7609 | R2 – 3.0230
• Support: S1 – 1.9121 | S2 – 1.6500

Market Sentiment & Trade Idea

• Overall Sentiment: Bullish
• Direction: Buy
• Trade Suggestion:
• Entry (Limit Buy): 2.20
• Take Profit: 2.36
• Stop Loss: 2.13

CHAINLINK (LINK): Market Consolidates Near $15 Amid Conflicting Signals

Market Summary

Chainlink is trading steadily around $14.65, holding within an ascending channel. A breakout above the $15.30 resistance could set the stage for a move toward $17. However, a breakdown below $14 could accelerate selling pressure.

Technical Overview

Moving Averages

• Exponential:
• MA 10: 14.4259 – Bullish
• MA 20: 13.9889 – Bullish
• MA 50: 14.2257 – Bullish
• Simple:
• MA 10: 14.5936 – Bullish
• MA 20: 13.6438 – Bullish
• MA 50: 13.6090 – Bullish

Indicators

• RSI: 57.28 – Buy Zone (Bullish)
• Stochastic Oscillator: 81.34 – Buy Zone (Neutral)

Key Levels

• Resistance: R1 – 16.5642 | R2 – 17.9287
• Support: S1 – 12.1467 | S2 – 10.7822

Market Sentiment & Trade Idea

• Overall Sentiment: Bullish
• Direction: Buy
• Trade Suggestion:
• Entry (Limit Buy): 14.07
• Take Profit: 15.36
• Stop Loss: 13.46

Broader Crypto Market Summary

Key Economic Data Releases Today

• Australia (AUD):
• CPI YoY (Q1): Forecast 2.3% | Previous 2.4% (07:00)
• China (CNY):
• Manufacturing PMI (Apr): Forecast 49.7 | Previous 50.5 (07:00)
• Germany (EUR):
• GDP QoQ (Q1): Forecast 0.2% | Previous -0.2% (13:00)
• CPI MoM (Apr): Forecast 0.3% | Previous 0.3% (17:30)
• United States (USD):
• ADP Nonfarm Employment Change (Apr): Forecast 114K | Previous 155K (17:45)
• GDP QoQ (Q1): Forecast 0.2% | Previous 2.4% (18:00)
• Core PCE Price Index YoY (Mar): Forecast 2.6% | Previous 2.8% (19:30)