Potential Bitcoin bottom seen at $80K, indicating potential for TON, CRO, MNT, and RENDER to increase rally

Bitcoin (BTC) bulls are attempting to initiate a recovery, but selling pressure at higher levels continues to thwart each push towards the range highs. Veteran trader Peter Brandt indicated in a post on X that Bitcoin has broken down from a bear wedge pattern, setting a target objective of $65,635.

The current macroeconomic landscape and concerns about a prolonged trade war have led Coin Bureau founder Nic Puckrin to suggest a 40% chance of a recession in 2025. Puckrin stated that a potential recession and ongoing macroeconomic uncertainty could impact risky assets such as cryptocurrencies.

Crypto market data daily view. Source: Coin360

However, not everyone shares a bearish outlook on Bitcoin in the short term. Analyst Stockmoney Lizards mentioned in a post on X that Bitcoin’s local bottom could fall between $82,000 and $80,000, with expectations of a reversal in the upcoming week.

If Bitcoin embarks on a recovery, select altcoins may experience an uptrend. Let’s examine the charts of leading cryptocurrencies displaying a bullish setup.

Bitcoin price analysis

Bitcoin’s inability to surpass the resistance line may prompt selling activity from traders. Bears may aim to push the price towards the critical $80,000 support level.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day exponential moving average ($85,253) remains flat, while the relative strength index (RSI) sits below the midpoint, giving bears a slight edge. A breach of the $80,000 support could lead the BTC/USDT pair to fall to $76,606.

Conversely, an upward movement from the current level or $80,000 enhances the likelihood of a rally above the resistance line, signaling the end of the corrective phase. This could propel the pair towards $95,000 and then $100,000.

BTC/USDT 4-hour chart. Source: Cointelegraph/TradingView

On the 4-hour chart, the 20-EMA is sloping downwards, while the RSI indicates bearish momentum. A price drop from the current level could lead the pair to $80,000 and eventually to $78,000.

Buyers must push and maintain the price above the 20-EMA to signal strength. If achieved, the pair may rise towards the critical resistance line, with a potential bullish momentum upon breaching $89,000.

Toncoin price analysis

Toncoin (TON) bounced off the moving averages on March 30, demonstrating a positive sentiment.

TON/USDT daily chart. Source: Cointelegraph/TradingView

The upward-sloping 20-day EMA ($3.58) and the RSI in the positive zone favor buyers. Bulls aim to push the price above $4.14, potentially initiating a new uptrend towards $5 and subsequently $5.65.

However, sellers may attempt to pull the price below the $3.3 support level to maintain control. Such a move would indicate bearish sentiment, possibly causing the pair to drop to $2.81 and then $2.64.

TON/USDT 4-hour chart. Source: Cointelegraph/TradingView

The pair’s bounce from the uptrend line suggests bullish sentiment, with potential resistance at $4.14. A breakthrough at this level could lead to further upside towards $5. Buyers must maintain the price above the uptrend line to counter bearish pressure, potentially dropping the pair to $3.28.

Cronos price analysis

Cronos (CRO) broke above the moving averages on March 24, indicating a possible end to the downtrend.

CRO/USDT daily chart. Source: Cointelegraph/TradingView

The CRO/USDT pair faces resistance near $0.12, with buyers defending the $0.10 support level. A breach above $0.12 could lead to a rally towards $0.14.

Sellers might seek to push the price below the moving averages to assert control and prompt a drop in the pair’s value.

CRO/USDT 4-hour chart. Source: Cointelegraph/TradingView

The range-bound movement between $0.10 and $0.12 on the 4-hour chart indicates indecision between buyers and sellers. A break and close above $0.11 could pave the way for a rally above $0.12.

Sellers may regain control if the price dips below the 50-SMA, potentially leading to a drop towards $0.08.

Related: Is XRP price around $2 an opportunity or the bull market’s end? Analysts weigh in

Mantle price analysis

Mantle (MNT) struggled to surpass the 50-day SMA ($0.84) recently, but bullish sentiment remains as buyers defend the 20-day EMA ($0.80).

MNT/USDT daily chart. Source: Cointelegraph/TradingView

A strong rebound from the 20-day EMA could suggest a shift from selling on rallies to buying on dips, potentially leading to a break above the 50-day SMA. In such a scenario, the MNT/USDT pair may rise towards $0.94 and then $1.06.

Conversely, a continued decline and breach below $0.77 could favor bears in the short term, delaying upward movement and potentially dropping the pair to $0.72.

MNT/USDT 4-hour chart. Source: Cointelegraph/TradingView

The 4-hour chart shows resistance at $0.85, with potential support at $0.77. Buyers must maintain the price above $0.77 to signal strength, potentially leading to a range-bound movement between $0.77 and $0.85. A breakthrough above $0.85 could pave the way towards $0.95.

Sellers may regain control if the price dips below $0.77, potentially leading to a drop towards $0.69.

Render price analysis

Render (RNDR) has been in a downtrend for weeks, but bulls managed to push the price above the 50-day SMA ($3.77) on March 25, indicating demand at lower levels.

RNDR/USDT daily chart. Source: Cointelegraph/TradingView

The price has retraced to the 20-day EMA ($3.57), a crucial level to watch. A strong rebound at this level could propel the RNDR/USDT pair towards $5 and potentially $6.20.

If the price continues to decline and falls below $3.05, it could signal selling pressure at higher levels, potentially leading to a drop to $2.52.

RNDR/USDT 4-hour chart. Source: Cointelegraph/TradingView

The 4-hour chart indicates seller advantage, with the price below the uptrend line. A breakthrough below this line could further strengthen bearish sentiment, potentially leading to a drop to $3.

A bullish scenario would involve a breakthrough and close above the moving averages, potentially triggering a rally towards $4. The momentum could increase upon surpassing $4.20, completing a bullish head-and-shoulders pattern.

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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