Bitcoin Price Surge: $100K Target Ignites Bullish Hopes for SUI, AVAX, TRUMP, TAO

The cryptocurrency market is buzzing! Following a significant rebound this week, the Bitcoin price is showing strong potential, with analysts eyeing the crucial $100,000 mark. This positive momentum in the leading cryptocurrency often sets the stage for broader market movements, and attention is now turning to several altcoins that appear poised to follow Bitcoin’s lead. If Bitcoin can sustain its upward trajectory, tokens like SUI, AVAX, TRUMP, and TAO could see substantial gains.

Understanding the Bitcoin Price Momentum

Bitcoin has experienced a solid comeback, booking over 10% gains in the past week. This surge is backed by strong buying activity, notably from US spot Bitcoin exchange-traded funds (ETFs), which saw significant inflows totaling billions. This institutional interest signals robust demand and contributes to the bullish sentiment currently dominating the market.

Technical indicators for Bitcoin price remain favorable as we head into a new week. Analysts are optimistic about Bitcoin’s future, with projections ranging from a 40% gain by the year’s end to much higher targets:

• Some models project Bitcoin reaching between $130,000 and $163,000 by the end of 2025.
• More aggressive targets place Bitcoin potentially above $200,000 in Q4 of this year.

The key question is whether Bitcoin can overcome current resistance levels to unlock these higher targets.

Bitcoin Price Prediction: Analyzing the Charts

The battle between buyers and sellers is currently centered around the $95,000 level for Bitcoin.

On the daily chart, indicators like the upward-sloping 20-day exponential moving average ($88,619) and the relative strength index (RSI) near the overbought zone suggest buyers are in control. A decisive close above $95,000 is expected to pave the way towards $100,000 and potentially $107,000. The zone between $107,000 and $109,588 is likely to see strong selling pressure.

The 20-day EMA is a critical support level in the near term. A break below it could bring the larger trading range between $95,000 and $73,777 back into focus.

Looking at the 4-hour chart, sellers are actively defending $95,000 but are struggling to push the price significantly lower. If the price bounces off the 20-EMA on this timeframe, it increases the probability of a break above $95,000, targeting $100,000. Conversely, if the price drops below the 20-EMA, a decline towards the 50-simple moving average is possible, which acts as another key support.

Altcoin Price Prediction: Tokens to Watch

As Bitcoin gains strength, several altcoins are showing promising technical setups, suggesting they could be next in line for significant moves.

SUI Price: Potential for a Breakout?

Sui (SUI) has faced resistance near $3.90, but the recent shallow pullback indicates buyers are holding their positions. If the price remains above the 38.2% Fibonacci retracement level at $3.14, buyers are likely to attempt pushing the SUI price above $3.90 again. A successful breakout could send SUI towards $4.25 and potentially $5.

However, a drop below $3.14 could signal a deeper correction towards the 50% retracement level at $2.94. The zone between $2.94 and the 20-day EMA ($2.69) is expected to be a strong support area.

The 4-hour chart shows SUI finding support at the 20-EMA, but sellers are present at higher levels. Buyers need to break above the $3.81 to $3.90 resistance zone to maintain the advantage and target $4.25.

AVAX Price: Setting Up for a Move?

Avalanche (AVAX) has been trading within a range between $15.27 and $23.50. While buyers haven’t decisively broken above $23.50, their ability to hold ground suggests a potential breakout is brewing. A break above $23.50 would complete a double-bottom pattern, setting a target objective of $31.73 for the AVAX price.

This bullish outlook would be invalidated in the near term if the price turns down and breaks below the moving averages, which could see AVAX remain range-bound.

On the 4-hour chart, AVAX is consolidating between $21.60 and $23.10, indicating buyers are anticipating a move higher. A push above $23.10 could see AVAX target $25, likely overcoming the $23.50 resistance. Conversely, a drop below $21.60 suggests weakening sentiment, potentially leading to a decline towards $19.50.

TRUMP Token Trajectory: Bullish Continuation?

The Official Trump (TRUMP) token saw a breakout above $12.45 and successfully retested this level as support. Despite facing selling pressure near $16, minor dips are being bought, indicating continued interest. A push above $16 could see the TRUMP price target $17.69, then potentially $19.60 and even $22.40 if momentum holds.

A deeper pullback would suggest short-term profit-taking. The zone between $11.56 and $12.45 is expected to provide solid support. A rebound from this area could see TRUMP trade between $11.56 and $16. A break below the 20-day EMA ($10.73) could accelerate selling.

The 4-hour chart shows TRUMP finding support at the 20-EMA after pulling back from $16. Buyers aim to push above $16 to resume the uptrend. A break below the 20-EMA would suggest weakening bullish momentum, potentially leading to a drop towards $14 and then $12.

TAO Price: Reclaiming Momentum?

Bittensor (TAO) broke above its downtrend line on April 20, signaling a potential shift in sentiment. While facing resistance at $375, the current pullback is expected to find support at the 20-day EMA ($298). A strong bounce from the 20-day EMA would suggest buyers are accumulating on dips.

Buyers will then attempt to push the TAO price above $375. Success here could open the path towards $495. Conversely, a failure to hold the downtrend line after the breakout would indicate market rejection, risking a fall to $222.

The 4-hour chart shows TAO finding support at the 20-EMA during its pullback. Buyers will try to push above $375 to target $425. However, sellers will attempt to push the price below the 20-EMA, potentially leading to a drop towards the 50-SMA and the downtrend line.

Summary: A Market at a Crossroads

Bitcoin’s strong performance has injected optimism back into the crypto market. While facing resistance at $95,000, the underlying sentiment remains bullish, supported by ETF inflows and positive technical indicators targeting $100K and beyond. This momentum is creating potential opportunities in select altcoins like SUI, AVAX, TRUMP, and TAO, which show promising technical setups.

However, markets are dynamic, and key support levels must hold for these bullish scenarios to play out. Traders and investors should closely monitor these levels and conduct their own thorough research before making any decisions. The potential for significant moves exists, but managing risk is crucial in this volatile environment.

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.