Bitcoin price cools going into Fed rate hike week, HYPE, AAVE, RNDR, FET still look bullish
Key points:Bitcoin’s positive sentiment should remain intact if BTC price stays above the 20-day EMA near $92,000.Several altcoins show bullish chart patterns in the 4-hour and 1-day timeframes.Bitcoin (https://cointelegraph.com/bitcoin-price
) turned down from the $0.84 overhead resistance and has reached the 20-day EMA ($0.65).
FET/USDT daily chart. Source: Cointelegraph/TradingViewThe bulls will try to arrest the pullback at the 20-day EMA. If the price rebounds off the 20-day EMA with force, the FET/USDT pair could reach the $0.84 level. A break and close above $0.84 opens the doors for a possible rise to $1.09.Sellers are likely to have other plans. They will try to pull the price below the 20-day EMA. If they manage to do that, the pair could fall to the 50-day SMA ($0.54), where the buyers are expected to step in.
FET/USDT 4-hour chart. Source: Cointelegraph/TradingViewThe pair has reached the crucial support at $0.67. If the price rebounds off $0.67, the bears will try to halt the relief rally at the moving averages. If the price turns down from the moving averages and breaks below $0.67, it suggests that the bulls have given up. That could drag the pair down to $0.60.Alternatively, a break above the moving averages signals demand at lower levels. That suggests a possible range formation between $0.67 and $0.80. The uptrend could resume on a close above $0.80.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.
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2025-05-05 01:05:52Bitcoin price cools going into Fed rate hike week, HYPE, AAVE, RNDR, FET still look bullish