Bitcoin surged to $97,000 on Friday, moving closer to the critical $100,000 threshold amid renewed optimism over US-China trade relations. The positive sentiment extended across the broader cryptocurrency market, lifting Ethereum, Ripple (XRP), and Solana. Despite the gains, momentum appears to be moderating, with signs of exhaustion in recent rallies.

KEY HIGHLIGHTS 

• Bitcoin Gains Momentum Amid US-China Trade Optimism and Risk Appetite
• Ethereum Approaches Key Resistance as Bullish Breakout Looks Possible
• XRP Consolidates Near Support with Signs of Upward Momentum Building
• Solana Holds Strong, Eyes Breakout After Sustained Buying Interest

Bitcoin (BTC)

Price Action: Climbs to $97,000 amid Trade Optimism

Bitcoin rose sharply on Friday as risk appetite improved following China’s openness to trade discussions with the United States. The rally aligned with broader gains in risk-on assets, including equities and cryptocurrencies.

China’s commerce ministry’s willingness to negotiate prompted renewed buying in Bitcoin, driving it close to the $100K mark. However, broader momentum in the market remains cautious, reflecting a slowdown in April’s late rally.

Technical Overview

Moving Averages

Exponential Moving Averages (EMA):

• MA 10: 94,047.05 – Positive Crossover – Bullish
• MA 20: 91,335.00 – Positive Crossover – Bullish
• MA 50: 88,746.89 – Positive Crossover – Bullish

Simple Moving Averages (SMA):

• MA 10: 94,791.54 – Positive Crossover – Bullish
• MA 20: 90,233.22 – Positive Crossover – Bullish
• MA 50: 86,229.76 – Positive Crossover – Bullish

Indicators

• RSI: 69.93 – Buy Zone – Bullish
• Stochastic Oscillator: 91.59 – Buy Zone – Neutral

Key Levels

• Resistance: R1: 96,352.95 | R2: 101,420.45
• Support: S1: 79,948.01 | S2: 74,880.51

Overall Sentiment: Bullish
Market Direction: Buy

Trade Suggestion:

• Limit Buy: 93,865
• Take Profit: 99,500
• Stop Loss: 91,080

Ethereum (ETH)

Price Outlook: Approaching Critical Resistance at $1,861

Ethereum remains in a consolidation range between $1,700 and $1,861. A confirmed close above the $1,861 level could trigger a breakout toward the psychological $2,000 resistance.

Technical Overview

Moving Averages

Exponential Moving Averages (EMA):

• MA 10: 1,786.05 – Positive Crossover – Bullish
• MA 20: 1,754.26 – Positive Crossover – Bullish
• MA 50: 1,858.49 – Negative Crossover – Bearish

Simple Moving Averages (SMA):

• MA 10: 1,802.81 – Positive Crossover – Bullish
• MA 20: 1,706.02 – Positive Crossover – Bullish
• MA 50: 1,787.65 – Positive Crossover – Bullish

Indicators

• RSI: 57.02 – Buy Zone – Bullish
• Stochastic Oscillator: 85.54 – Buy Zone – Neutral

Key Levels

• Resistance: R1: 1,928.82 | R2: 2,063.15
• Support: S1: 1,493.96 | S2: 1,359.63

Overall Sentiment: Neutral
Market Direction: Buy

Trade Suggestion:

• Limit Buy: 1,774.50
• Take Profit: 1,928.00
• Stop Loss: 1,706.50

Ripple (XRP)

Price Holding at $2.20 Support, Recovery Possible

Ripple is trading near the $2.20 support zone after retesting the 50-day EMA. This level has held steady, and a potential recovery could push XRP toward $2.50 and possibly $3.00. A breakdown below $2.20 may invite further declines.

Technical Overview

Moving Averages

Exponential Moving Averages (EMA):

• MA 10: 2.2050 – Positive Crossover – Bullish
• MA 20: 2.1783 – Positive Crossover – Bullish
• MA 50: 2.2054 – Positive Crossover – Bullish

Simple Moving Averages (SMA):

• MA 10: 2.2205 – Negative Crossover – Bearish
• MA 20: 2.1602 – Positive Crossover – Bullish
• MA 50: 2.1905 – Positive Crossover – Bullish

Indicators

• RSI: 53.45 – Buy Zone – Bullish
• Stochastic Oscillator: 51.94 – Buy Zone – Neutral

Key Levels

• Resistance: R1: 2.3417 | R2: 2.5181
• Support: S1: 1.7707 | S2: 1.5943

Overall Sentiment: Bullish
Market Direction: Buy

Trade Suggestion:

• Limit Buy: 2.16
• Take Profit: 2.36
• Stop Loss: 2.07

Solana (SOL)

Price Consolidation Above $150, Potential Upside Ahead

Solana bounced from the $140 support zone and briefly surged above $150 before consolidating. A break above the $154 resistance level could signal continued bullish momentum.

Technical Overview

Moving Averages

Exponential Moving Averages (EMA):

• MA 10: 142.00 – Positive Crossover – Bullish
• MA 20: 132.30 – Positive Crossover – Bullish
• MA 50: 156.69 – Negative Crossover – Bearish

Simple Moving Averages (SMA):

• MA 10: 142.63 – Positive Crossover – Bullish
• MA 20: 140.75 – Positive Crossover – Bullish
• MA 50: 151.85 – Negative Crossover – Bearish

Indicators

• RSI: 61.36 – Buy Zone – Bullish
• Stochastic Oscillator: 19.90 – Sell Zone – Neutral

Key Levels

• Resistance: R1: 153.60 | R2: 164.15
• Support: S1: 144.30 | S2: 135.00

Overall Sentiment: Bullish
Market Direction: Buy

Trade Suggestion:

• Limit Buy: 144.94
• Take Profit: 157.55
• Stop Loss: 139.38

Elsewhere in the Crypto Market

• Bitcoin: +0.33% at 96,885
• Ethereum: -0.49% at 1,829.68
• Litecoin: -1.49% at 88.53
• Solana: -0.25% at 149.96
• Dogecoin: -0.10% at 0.180

Key Economic Events & Data Releases – April 29, 2025

• EUR CPI (YoY) (April)
• Forecast: 2.1%
• Previous: 2.2%
• Time: 04:30
• USD Average Hourly Earnings (MoM) (April)
• Forecast: 0.3%
• Previous: 0.3%
• Time: 18:00
• USD Nonfarm Payrolls (April)
• Forecast: 133K
• Previous: 228K
• Time: 18:00
• USD Unemployment Rate (April)
• Forecast: 4.2%
• Previous: 4.2%
• Time: 18:00