Bitcoin (BTC) is retesting the $95,000 breakout level after giving back some weekend gains, as of May 3, 2024. Buyers need to hold this level to maintain bullish momentum.
According to Bitcoin network economist Timothy Peterson, Bitcoin could reach $135,000 within 100 days if the CBOE Volatility Index drops below 18, interest rates fall, and June and July perform well. Cryptocurrency markets may experience volatility as traders await the Federal Reserve's upcoming interest rate decision next week.
Bitcoin broke above $95,000 on May 1 but failed to sustain momentum, falling from $97,895 on May 2. The 20-day exponential moving average ($92,106) and positive RSI suggest buyers have an edge.
Hyperliquid (HYPE) faces resistance at $21.50, with the 20-day EMA at $18.48. A close above $21.50 could lead to $25, then $27.50.
Aave (AAVE) turned up from moving averages on April 30, indicating positive sentiment. Bulls aim for $196, with potential targets at $220 and $240 if resistance is broken.
Render (RNDR) faced resistance at $4.87 on May 2 and has reached the 20-day EMA ($4.31). A bounce off $4.31 increases the chance of breaking $4.87, potentially reaching $6.20.
Fetch.ai (FET) turned down from $0.84 resistance and reached the 20-day EMA ($0.65). A strong rebound could push FET to $0.84, potentially rising to $1.09.
This article is based on our author's analysis of materials taken from Cointelegraph.