Bitcoin (BTC) is moving farther away from the crucial $90,000 mark, indicating that buying dries up at higher levels. Market participants seem nervous about the fresh round of US trade tariffs and the renewed inflation pressure as US Personal Consumption Expenditures data came in hotter-than-expected.

Traders are divided about Bitcoin’s price trajectory in 2025. Analyzing data from the prediction markets platform Polymarket, X user Ashwin highlighted that Bitcoin’s most bearish target for 2025 is $59,040, and the most bullish is $138,617.

Crypto market data daily view. Source: Coin360

Although the near-term remains uncertain, Real Vision chief crypto analyst Jamie Coutts remains bullish on Bitcoin. Coutts told Cointelegraph that Bitcoin could hit a new all-time high above $109,000 before the end of the second quarter. He added that a lack of clarity on the US tariffs and recession concerns are unlikely to derail the potential Bitcoin rally.

What are the important support levels to watch out for in Bitcoin and the major altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin turned down from the resistance line and broke below the 20-day exponential moving average ($85,765) on March 28.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The bears will try to pull the price below the immediate support at $83,000. If they do that, the BTC/USDT pair could slide to $81,000 and later to $80,000. Buyers are expected to fiercely defend the zone between $76,606 and $80,000.

The bulls will have to push and maintain the price above the resistance line to signal that the correction may be ending. A close above the 50-day simple moving average ($89,346) could propel the pair to $95,000 and eventually to the psychological resistance at $100,000.

Ether price analysis

Ether (ETH) turned down from the breakdown level of $2,111 and broke below the 20-day EMA ($2,032), indicating that the bears remain in control.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will try to sink the ETH/USDT pair to the $1,800 to $1,754 support zone. Buyers are expected to vigorously defend the zone because a break below it could resume the downtrend. The next stop on the downside could be $1,550.

Buyers will have to push and sustain the price above $2,111 to signal that the bearish momentum is weakening. The 50-day SMA ($2,293) may act as a hurdle on the upside, but if taken out, the pair could rally to $2,550.

XRP price analysis

XRP (XRP) turned down and broke below the moving averages on March 26, indicating that the bears remain sellers on every minor rise.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

The bears will try to sink the price to the vital support at $2. Buyers are expected to defend the level with all their might because a break below $2 will complete a bearish head-and-shoulders pattern. The XRP/USDT pair may then plunge to $1.27.

On the contrary, a strong bounce off the $2 support could keep the pair stuck inside the triangle for a while longer. The bulls will be back in the driver’s seat on a break and close above the resistance line.

BNB price analysis

BNB (BNB) has been trading between the moving averages and the $644 resistance for the past few days.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA ($618) and the RSI in the positive territory signal a slight advantage to buyers. If the price rebounds off the moving averages with strength, it improves the prospects of a break above $644. The BNB/USDT pair could then surge to $686.

Contrary to this assumption, if the price continues lower and breaks below the moving averages, it indicates that the bulls have given up. The pair may descend to the 38.2% Fibonacci retracement level of $591.

Solana price analysis

Solana (SOL) broke below the 20-day EMA ($136) on March 28, suggesting a lack of demand from the bulls.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

Sellers will try to sink the price to the $120 to $110 support zone. Buyers are expected to defend the support zone aggressively because a break and close below it could resume the downtrend toward $80.

The 50-day SMA ($153) is the critical overhead resistance to watch out for. Buyers will have to kick the price above the 50-day SMA to indicate that the SOL/USDT pair may have formed a floor at $110. The pair could then jump to $180.

Dogecoin price analysis

Dogecoin (DOGE) turned down from the 50-day SMA ($0.21) on March 26, indicating that the sentiment remains negative.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

The flattish 20-day EMA ($0.18) and the RSI just below the midpoint suggest a range-bound action in the near term. The DOGE/USDT pair could swing between $0.14 and the 50-day SMA for some time.

If the price turns up from the current level and breaks above the 50-day SMA, it will signal that the bulls are trying to form a higher low. That increases the possibility of a break above the 50-day SMA. The pair may ascend to $0.24 and later to $0.29.

Cardano price analysis

Cardano’s (ADA) failure to sustain above the 50-day SMA ($0.75) may have attracted profit booking by short-term buyers.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The ADA/USDT pair could slip to the uptrend line, where the buyers are expected to step in. If the price rebounds off the uptrend line, the bulls will again attempt to drive the pair above the 50-day SMA. If they succeed, the pair may rise to $0.84 and then to $1.02.

Contrarily, a break and close below the uptrend line suggests that the bears have overpowered the bulls. The pair may drop to the $0.58 to $0.50 support zone, which is likely to attract buyers.

Related: XRP price may drop another 40% as Trump tariffs spook risk traders

Toncoin price analysis

Toncoin (TON) turned up from the 20-day EMA ($3.54) on March 26 and reached the overhead resistance of $4.14 on March 27.

TON/USD daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA and the RSI in the positive territory indicate advantage to buyers. If the price turns up from the current level or the 20-day EMA, it increases the likelihood of a break above $4.14. That opens the doors for a rise to $5.

This positive view will be invalidated in the near term if the price breaks below the moving averages. There is minor support at $3.32, but if the level cracks, the TON/USDT pair could slide to $2.81.

Chainlink price analysis

Chainlink (LINK) turned down from the 50-day SMA ($15.96) on March 28 and broke below the 20-day EMA ($14.76), indicating that bears are selling on rallies.

LINK/USDT daily chart. Source: Cointelegraph/TradingView

If the price sustains below the 20-day EMA, the bears will try to strengthen their position by pulling the LINK/USDT pair toward the support line. A break and close below the support line could sink the pair to $10.

Buyers are likely to have other plans. They will try to quickly arrest the decline and push the price above the 50-day SMA. If they manage to do that, the pair could climb to $17.70 and subsequently to the resistance line.

Avalanche price analysis

Avalanche (AVAX) failed to sustain above the 50-day SMA ($21.93), signaling that the bears are active at higher levels.

AVAX/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day EMA ($20.51) is the critical support to watch out for. If the price closes below the 20-day EMA, the AVAX/USDT pair could skid to $18. Buyers are expected to defend the $18 level, but if the bears prevail, the pair could retest the critical support at $15.27.

The first sign of strength will be a break and close above the 50-day SMA. That suggests solid buying at lower levels. The pair may then attempt a rally to the $25.12 to $27.23 overhead resistance zone.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

A portion of the Ethereum community is pressuring the Ethereum Foundation to make decisions that may “break the entire social fabric” of the smart contract network by restricting Ethereum’s layer-2 (L2) networks, Polygon co-founder Sandeep Nailwal said.

Speaking during a March 28 episode of Cointelegraph’s Chain Reaction show on X, the Polygon founder said that he has only seen this type of pressure and anti-L2 rhetoric during the current market cycle amid suppressed price action for Ether (ETH).

“Everybody understands that if Ethereum doesn’t survive, the layer-2s won’t survive,” Nailwal said, adding:

“The Ethereum community should not pressure the developers enough — I should not be able to pressure the developers enough — for price movements and all that, they may end up making a decision that completely breaks the social fabric of Ethereum.”

The Polygon co-founder praised Vitalik Buterin’s leadership and his more active role in the Ethereum Foundation, saying he has been the biggest force in keeping Ethereum’s ecosystem cohesive.

Nailwal characterized Buterin as the “DNA” of the network that has attracted many talented developers over the years who are building layers on top of the Ethereum base layer.

The total value secured across Ethereum’s scaling solutions. Source: L2Beat

Related: Getting crypto out of the ‘AOL era’ — Sandeep Nailwal

Settlement layers vs execution layers

According to Nailwal, the layer-1 vs layer-2 dichotomy is the wrong way to think about blockchain networks.

The Polygon founder defined only two settlement layers in all of crypto, Bitcoin and Ethereum, with all other crypto networks being execution layers.

In the future, almost every application will have its own blockchain to avoid paying gas fees and will post final transactions to one of these settlement layers, Nailwal said.

Ethereum’s base layer will benefit from this explosion of execution layers, accruing value from these final settlements and promoting the long-term growth of the ecosystem, which will one day be seamlessly interoperable.

Ethereum base layer fees drop following the Dencun upgrade. Source: The Tie Terminal

Critics of Ethereum’s execution layers say that the scaling networks are currently cannibalizing the base layer, which culminated in a 99% drop in Ethereum L1 revenue by September 2024.

Nailwal concluded that due to these differences between settlement and execution layers, no other crypto network is real competition for Ethereum except the Bitcoin network.

However, the only way the Bitcoin network could be a threat to Ethereum is if it adopted more advanced scripting options that give it reliable, smart contract functionality like Ethereum, Nailwal said.

Magazine: Ethereum L2s will be interoperable ‘within months’: Complete guide

After a positive start to the week, Bitcoin price reverted to negative returns after BTC (BTC) dropped 3.5% to an intraday low of $84,120 on March 28. The price rejection occurred at the cusp of the descending trendline (black) and the upper range of the ascending channel pattern.

Bitcoin 1-day chart. Source: Cointelegraph/TradingView

On the daily chart, BTC is currently below the 200-day exponential moving average (EMA) again, and a potential close below the key indicator might trigger further downside.

Global liquidity expansion could help Bitcoin price

Recent analysis from macroeconomic market analyst Capital Flows pointed out that Bitcoin could correct to the $72,000-$75,000 region if liquidity conditions remain unchanged. 

Macro liquidity refers to the total capital available in the financial system that can easily flow into risk-on assets like equities and crypto but is influenced by factors like interest rates, US Federal Reserve policies and market conditions.

According to Capital Flows, Bitcoin is exhibiting a “greater convergence” with traditional risk assets, but it remains at the periphery of the risk curve. This implies that for capital to flow back into BTC, investors’ mindset must shift from focusing on less risky assets, such as bonds, to riskier assets like BTC or low-quality banks in the Russell index. The researcher said, 

“Broadly speaking right now, the macro liquidity backdrop is neutral. Rates have come down marginally, but the carry trade continues to create risk for assets.”

On the contrary, other analysts have pointed out that the rise of the Global M2 money supply could potentially trigger a BTC rally. The Global Liquidity chart, which monitors M2 growth from major central banks, has historically formed a correlation with Bitcoin’s price movements.

Bitcoin and Global M2 Money supply correlation. Source: X.com

Colin Talks Crypto, a crypto commentator, said that the predictive correlation between M2 supply and BTC indicates a BTC rally around May 1, which might last two months.

However, the key difference between macro liquidity and global M2 growth is that while M2 measures total money supply, macro liquidity highlights the ease at which capital can flow into risk assets. For context, even if the M2 money supply rises, macro liquidity might remain the same if the money is allocated to low-risk assets. In light of that, Capital Flows said, 

“The quantity of money in the system isn’t expanding like it used to.”

Related: Why is Bitcoin price down today?

Bitcoin fills sub-$85K CME gap

Bitcoin’s recent rally created a CME gap between $84,435 and $85,000. The CME Bitcoin futures gap indicates the difference between the closing price of BTC CME futures on Friday and the opening price on Sunday evening. The gaps get filled most of the time, and traders approach these levels from the point of resistance or support, depending on the market structure. 

Bitcoin CME gap chart. Source: Cointelegraph/TradingView

As illustrated in the chart, BTC price filled the CME gap before its daily close on March 28, which can lead to a short-term bounce. The CME gap is also aligned with a retest of the lower range of the ongoing ascending channel pattern, as mentioned earlier. 

However, crypto trader HTL-NL pointed out the possibility of a long-term correction below, forming new lows in 2025. The trader showed immediate support at $76,700, which might be a minor retest region before prices drop below $74,000. 

Likewise, Crypto Chase, a technical analyst, noted that it is a “do or die” situation for Bitcoin. In an X post, the trader said, 

“Either holds this FVG / 2 weeks ago high at 8527,0 or it fails, and I’ll look for a short on retest targeting build up liq near 80K.”

Bitcoin 1-day analysis by Crypto Chase. Source: X.com

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.