Bitcoin (BTC) staged a strong recovery this week, with technical charts indicating bullish potential for altcoins like HYPE, ONDO, RNDR, and KAS.
Market Overview
- Bitcoin surged 7%+ this week, demonstrating solid buy-side support at lower levels.
- Arthur Hayes (BitMEX co-founder) suggested on X that the US bond market crisis could trigger policy responses, potentially propelling BTC into a "melt-up" scenario.
- Glassnode data reveals 40,000 BTC accumulated near the $79,000 support level.
- A weakening DXY Index (below 100) may further bolster Bitcoin's upward trajectory.
BTC Price Analysis
Daily Chart (BTC/USDT):
- Breakout above resistance on April 12 signaled a potential end to the correction phase.
Key levels:
- Support: $78,500 (strong buy zone)
- Resistance: $89,000 → $95,000 (next targets if 20-day EMA holds).
4-Hour Chart:
- Rising 20-day EMA and positive RSI favor bulls.
- A close above $89,000** could accelerate momentum toward **$92K–$95K.
Altcoins with Bullish Potential
1. Hyperliquid (HYPE)
Key Levels:
- Support: $12 (strong demand zone)
- Resistance: $17.35 → $21 → $25 (bullish targets).
Technical Indicators: - RSI at 56 suggests buyer dominance.
- Break above $17.35 may trigger a 20%+ rally.
👉 Why HYPE is gaining traction among traders
2. Ondo (ONDO)
Key Levels:
- Breakout from descending trendline indicates bullish reversal.
- Resistance: $0.96 → $1.20 (upside potential).
Watch For: - Holding 20-day EMA ($0.83) for continuation.
3. Render (RNDR)
Key Levels:
- Double Bottom pattern in play if $4.22 breaks.
- Targets: $5 → $5.94.
4-Hour Chart: - 20-day EMA acts as pivotal support for uptrend.
4. Kaspa (KAS)
Key Levels:
- 50-day SMA crossover signals reduced selling pressure.
- Break above **$0.08** could confirm **double bottom** ($0.12 target).
👉 Kaspa’s unique consensus mechanism explained
FAQ Section
Q: Why is Bitcoin rebounding despite macroeconomic worries?
A: Institutional accumulation (per Glassnode) and a weaker DXY Index are key drivers.
Q: Which altcoin has the strongest technical setup?
A: RNDR’s double bottom pattern offers high-reward potential if $4.22 breaks.
Q: How does the DXY Index affect crypto?
A: A weaker DXY often correlates with stronger BTC performance, as investors seek inflation hedges.
Conclusion
While Bitcoin leads the charge, altcoins like HYPE, ONDO, RNDR, and KAS show compelling technical setups. Traders should monitor key support/resistance levels and broader market sentiment for confirmation.
Disclaimer: Not financial advice. Cryptocurrency trading involves risks.