Bitcoin Bulls Aim to Regain Momentum Above 200-Day SMA

Bitcoin (BTC) bulls are attempting to regain momentum by maintaining the price above the 200-day simple moving average. According to Bitget Research chief analyst, Bitcoin needs to close above a certain threshold this week to signal strength and prevent a potential drop. The analyst also noted that a close above another threshold would provide a clearer bullish confirmation.

Recent tariff wars have impacted both traditional and cryptocurrency markets. Analysts believe that the markets may remain under pressure until a specific date. If the tariffs are dropped, it could act as a significant driver for the market. Analysts remain bullish for the long term, but some expect a short-term decline. According to an analyst, the current bear market should only last for 90 days, with an anticipated fall in the next 30 days followed by a rally sometime after a specific date.

If Bitcoin starts a sustained recovery, several altcoins could follow suit. Toncoin (TON) turned down from a certain level but the bulls have held the price above the moving averages. The moving averages are on the verge of a bullish crossover, and the RSI has jumped into the positive zone, improving the prospects of a break above a certain level. If that happens, the TON/USDT pair could surge to another level. This positive view will be invalidated in the near term if the price turns down and breaks below the 20-day EMA.

Avalanche (AVAX) has been in a strong downtrend, but the positive divergence on the RSI suggests that the bearish momentum may be weakening. The AVAX/USDT pair has been clinging to the 20-day EMA, increasing the likelihood of a breakout. If that happens, the pair could climb to the 50-day SMA and subsequently to a resistance zone. Such a move suggests that the downtrend could be ending. On the other hand, the downtrend may resume if the price turns down from the 20-day EMA and breaks below a support level.

Near Protocol (NEAR) has been in a strong downtrend, but it is showing early signs of starting a reversal. The positive divergence on the RSI suggests that the bears are losing their grip. A break and close above the 50-day SMA could strengthen the bulls, opening the gates for a rally to another level. Sellers are expected to aggressively defend this level, but if the bulls prevail, the NEAR/USDT pair may rise to another level. Contrarily, if the price turns down and breaks below a certain level, it suggests that the bears remain in control. The pair could then drop to a solid support level.

OKB (OKB) has been trading inside a descending channel pattern, indicating buying near the support line and selling close to the resistance line. The OKB/USDT pair picked up momentum after breaking out of the 20-day EMA. The pair is facing selling near a certain level, which could pull the price down to the 20-day EMA. A shallow pullback suggests that the bulls are not rushing to the exit, increasing the possibility of a rally to the resistance line. Contrary to this assumption, if the price continues lower and breaks below the 50-day SMA, it signals that the bears remain active at higher levels. The pair may then tumble to another level.