Bitcoin leads a broader crypto market rebound, surging past $96,000 after overcoming recession-related concerns triggered by weaker-than-expected U.S. GDP data. While major cryptocurrencies continue to consolidate, XRP approaches a potential breakout, Ethereum eyes resistance near $1,860, and Dogecoin struggles to maintain recent gains.
KEY HIGHLIGHTS
- Bitcoin Soars Past $96K, Shakes Off Recession Fears Quickly
- XRP Eyes Breakout Above $2.20 Amid Ripple Acquisition Buzz
- Ethereum Climbs Toward $1,860 Resistance After Recent Price Recovery
- Dogecoin Faces Resistance After Failing to Hold Above $0.180
BITCOIN – BTC Surges Past $96,000 Amid Recession Fears
Market Summary
Bitcoin (BTC) has rebounded strongly to reclaim the $96,000 level after a brief decline driven by disappointing U.S. GDP data, which showed a 0.3% contraction in Q1 versus an expected 0.4% growth. The downturn raised concerns over stagflation, but Bitcoin’s recovery signals strong bullish sentiment.
Key Drivers
- U.S. GDP miss triggers recession and stagflation concerns.
- Quick rebound from $70,000 March-April lows.
- Investor sentiment supported by prior April strength.
Technical Overview
Moving Averages
Exponential Moving Averages:
- MA 10: 93,355.19 – Bullish
- MA 20: 90,718.38 – Bullish
- MA 50: 88,401.30 – Bullish
Simple Moving Averages:
- MA 10: 94,406.01 – Bullish
- MA 20: 89,640.73 – Bullish
- MA 50: 85,907.91 – Bullish
Indicators
- RSI: 68.62 – Buy Zone, Bullish
- Stochastic Oscillator: 90.69 – Buy Zone, Neutral
Support & Resistance
- Resistance 1: 96,352.95
- Resistance 2: 101,420.45
- Support 1: 79,948.01
- Support 2: 74,880.51
Trade Suggestion
- Limit Buy: 96,281
- Take Profit: 99,550
- Stop Loss: 93,061
RIPPLE – XRP Holds Firm Above $2.20 Support
Market Summary
XRP is consolidating near $2.21, supported by the 50- and 100-day EMAs. Market optimism follows news of Ripple’s $5 billion bid to acquire Circle and easing trade tensions.
Key Drivers
- Strategic support above $2.20
- Acquisition bid for Circle boosts sentiment
- Potential breakout if descending trendline is breached
Technical Overview
Moving Averages
Exponential Moving Averages:
- MA 10: 2.2075 – Bullish
- MA 20: 2.1769 – Bullish
- MA 50: 2.2060 – Bullish
Simple Moving Averages:
- MA 10: 2.2228 – Bullish
- MA 20: 2.1587 – Bullish
- MA 50: 2.1918 – Bullish
Indicators
- RSI: 55.08 – Buy Zone, Bullish
- Stochastic Oscillator: 57.14 – Buy Zone, Neutral
Support & Resistance
- Resistance 1: 2.3417
- Resistance 2: 2.5181
- Support 1: 1.7707
- Support 2: 1.5943
Trade Suggestion
- Limit Buy: 2.20
- Take Profit: 2.36
- Stop Loss: 2.12
ETHEREUM – ETH Approaches Key Resistance Near $1,860
Market Summary
Ethereum has bounced off the $1,735 support and is trading back above $1,800. A break above $1,860 could trigger a rally toward the $1,920 resistance level.
Key Drivers
- Recovery from $1,733 low
- Resistance remains at $1,860
- Broader market strength supports upside potential
Technical Overview
Moving Averages
Exponential Moving Averages:
- MA 10: 1,778.41 – Bullish
- MA 20: 1,747.39 – Bullish
- MA 50: 1,860.10 – Bearish
Simple Moving Averages:
- MA 10: 1,796.73 – Bullish
- MA 20: 1,697.29 – Bullish
- MA 50: 1,788.59 – Bullish
Indicators
- RSI: 58.93 – Buy Zone, Bullish
- Stochastic Oscillator: 86.44 – Buy Zone, Neutral
Support & Resistance
- Resistance 1: 1,928.82
- Resistance 2: 2,063.15
- Support 1: 1,493.96
- Support 2: 1,359.63
Trade Suggestion
- Limit Buy: 1,780.3
- Take Profit: 1,953.5
- Stop Loss: 1,696.8
DOGECOIN – DOGE Faces Headwinds Below $0.180
Market Summary
Dogecoin is trading below $0.180 after a failed attempt to sustain momentum past the $0.190 mark. It currently struggles to reclaim key resistance levels as downward pressure persists.
Key Drivers
- Failed breakout above $0.190
- Immediate resistance at $0.1750
- Support building around $0.170
Technical Overview
Moving Averages
Exponential Moving Averages:
- MA 10: 0.1752 – Bullish
- MA 20: 0.1718 – Bullish
- MA 50: 0.1792 – Bullish
Simple Moving Averages:
- MA 10: 0.1788 – Bullish
- MA 20: 0.1685 – Bullish
- MA 50: 0.1689 – Bullish
Indicators
- RSI: 56.82 – Buy Zone, Bullish
- Stochastic Oscillator: 57.35 – Buy Zone, Neutral
Support & Resistance
- Resistance 1: 0.1892
- Resistance 2: 0.2041
- Support 1: 0.1408
- Support 2: 0.1259
Trade Suggestion
- Limit Buy: 0.175
- Take Profit: 0.193
- Stop Loss: 0.168
Broader Crypto Market Performance
- Bitcoin (BTC): +2.4% at 96,201
- Ethereum (ETH): +2.99% at 1,847.71
- Litecoin (LTC): +4.3% at 87.09
- Solana (SOL): +2.93% at 151.88
- Dogecoin (DOGE): +4.31% at 0.179
Key Economic Events – April 29, 2025
- (JPY) BoJ Interest Rate Decision – Forecast: 0.50%, Previous: 0.50% at 08:30
- (USD) Initial Jobless Claims – Forecast: 224K, Previous: 222K at 18:00
- (USD) ISM Manufacturing PMI (April) – Forecast: 48.0, Previous: 49.0 at 19:30