Bitcoin's week in review
The S&P 500 Index had a positive week, while gold experienced a massive run-up. However, Bitcoin's performance was not as lucky, ending the week down more than 3%. This has kept crypto investors away from altcoins, maintaining Bitcoin's market dominance near the 50% mark. Market observers are closely watching Bitcoin and its potential to sustain a price above $25,000, which could signal a bullish move and spur buying in select altcoins.
Bitcoin price analysis
Bitcoin has been trading in a tight consolidation between the moving averages, indicating indecision in the market. This usually precedes a range expansion. If buyers push the price above the 20-day exponential moving average, the BTC/USDT pair could rise further. On the other hand, a drop below the 50-day simple moving average could signal bearish dominance. The pair's recovery is currently facing resistance at the 20-EMA on the 4-hour chart, but the bulls are holding their ground.
Solana price analysis
Solana has been locked in a battle between the bulls and bears near the 20-day EMA. If the bulls manage to break through the minor resistance at $22.50, the SOL/USDT pair could rise to the neckline of an inverse head and shoulders pattern. A breakout above this resistance would complete the bullish setup. However, a drop below the 50-day SMA could negate this view.
Lido DAO price analysis
Lido DAO has been trading near the moving averages, suggesting a weakening grip by the bears. The flattened moving averages and positive RSI indicate a potential comeback by the bulls. If the immediate resistance at $1.73 is breached, the LDO/USDT pair could climb further. However, a drop below the moving averages would suggest bearish control.
Internet Computer price analysis
Internet Computer has been consolidating within a tight range for several days. The positive RSI divergence suggests reducing selling pressure. If the ICP/USDT pair breaks above the overhead resistance at $3.35, it could signal a trend change and lead to further upside targets. However, a turn down from $3.35 would indicate a continuation of the range-bound trading.
VeChain price analysis
VeChain has been trading within a descending triangle, but the price has been clinging to the downtrend line, which is a positive sign. The flattened moving averages and near-midpoint RSI suggest a reduction in bearish pressure. Buyers will attempt to break above the downtrend line and invalidate the negative setup. Alternatively, a turn down from the current level would indicate continued bearish defense at the downtrend line.
