On April 20, Bitcoin halving officially took place, and the price rebounded from the intraday low, rising to $65,640 this morning (22nd). As of the time of writing, it was quoted at $65,954.
The inflow of funds into Bitcoin spot ETFs has also improved. Data shows that the ETF received a net inflow of US$30.4 million on the day before the halving, reversing five consecutive days of outflows.
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Bitcoin once rebounded and approached the 20-day exponential moving average (EMA). If there is no sharp drop at this point or even a break through the EMA, it means that Bitcoin may fluctuate between $60,775 and $73,777 for a period of time in the near future; conversely, if Bitcoin falls sharply, it may retest the support area of $59,600 to $60,775.
If Bitcoin maintains its upward trend, it may further drive up these four coins.
Binance Coin ($BNB)
Binance Coin ($BNB) has been fluctuating between $495 and $635 recently, representing a balance between supply and demand in the market.
On April 20, $BNB has risen above the 20-day EMA and the 50-day moving average, which indicates that the selling pressure is easing. $BNB A move above the $635 resistance level is likely to trigger short selling in the near term. If $BNB declines sharply from $635, the range-bound trading is likely to continue for a while.
The next move is likely to start on a breakout of $635 or below $495. If $635 is broken, $BNB could start its journey towards $692; conversely, if $BNB breaks below $495, it could drop further to $460.
Near Protocol ($NEAR)
Near Protocol ($NEAR) has been in a downward channel recently, but it has recently broken through the 20-day EMA ($6.15), which means that short-term selling pressure may ease.
NEAR will try to rebound to the resistance line, where bears may sell heavily. If the price drops sharply from the resistance line, it means that $NEAR may still fluctuate in the downward channel; on the contrary, if $NEAR breaks through the upper resistance level of the downward channel, the short-term trend will change and it may rebound to $8 first and then challenge $9.
Mantle ($MNT)
After fluctuating between the two daily moving averages for a few days, Mantle ($MNT) broke above the 20-day EMA ($1.18) on April 20, which shows that bulls are trying to take control.
$MNT has a long upper shadow on the daily chart, which means the bears have not given up yet and are trying to pull the price back below the 20-day EMA.
If $MNT falls back below the 20-day EMA, it may trap the aggressive bulls and drop back to the 50-day SMA ($1.09). A break below the 50-day SMA could lead to a further drop to the $1 support level.
On the other hand, if $MNT can sustain above the 20-day EMA, it means that the bulls are defending this level and a move to the 61.8% Fibonacci retracement level ($1.32) is likely. If it breaks above this level, the next stop could be $1.51.
Render ($RNDR)
Render ($RNDR) has been trading in a correction and consolidation phase recently, but the bulls are attempting to push the price above the downtrend line to regain control.
On the daily chart, $RNDR’s 20-day EMA ($8.9) has flattened out and the Relative Strength Index (RSI) has also risen to the midpoint, which means that bears are losing control.
If $RNDR can stay above the 20-day EMA in the near term, it may rise to the 50-day MA ($9.95) and then to $12. On the contrary, if $RNDR falls back below the 20-day EMA, it may represent a "false breakout" and may further fall to $7 and $6.
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