Bitcoin bottom ‘likely’ at $80K, opening door for TON, CRO, MNT and RENDER to rally

Sun, 30 Mar 2025 19:05:48 +0000
Markets

Bitcoin (BTC) bulls are trying to start a recovery but selling at higher levels continues to disarm each attack of the range highs. Veteran trader Peter Brandt said in a post on X that Bitcoin has broken down from a bear wedge pattern, giving it a target objective of $65,635.

The current macroeconomic environment and the fears of a prolonged trade war have created a 40% possibility of a recession in 2025, according to Coin Bureau founder Nic Puckrin. Puckrin said that a recession and the current macroeconomic uncertainty could put pressure on risky assets such as cryptocurrencies.

Crypto market data daily view. Source: Coin360

However, not everyone is bearish on Bitcoin in the near term. Analyst Stockmoney Lizards said in a post on X that Bitcoin’s local bottom could be between $82,000 and $80,000. The analyst anticipates Bitcoin to make a reversal next week.

If Bitcoin starts a recovery, select altcoins are likely to move higher. Let’s look at the charts of the top cryptocurrencies that are showing a bullish setup.

*Bitcoin price analysis*

Bitcoin’s failure to rise above the resistance line may have tempted selling by traders. The bears will try to pull the price toward the critical $80,000 support.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The 20-day exponential moving average ($85,253) is flattish, and the relative strength index (RSI) is just below the midpoint, giving a slight advantage to the bears. If the $80,000 support cracks, the BTC/USDT pair could plunge to $76,606.

On the other hand, if the price turns up from the current level or $80,000, it improves the prospects of a rally above the resistance line. If that happens, it suggests an end of the corrective phase. The pair could rally to $95,000 and then to $100,000.

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

The 20-EMA has turned down on the 4-hour chart, and the RSI is in the negative territory, signaling that bears are in control. If the price turns down from the current level, the pair could slide to $80,000 and then to $78,000.

Buyers will have to drive and maintain the price above the 20-EMA to signal strength. The pair may then rise to the resistance line, which is a critical resistance to watch out for. The bullish momentum is expected to begin on a break above $89,000.

*Toncoin price analysis*

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

TON/USDT daily chart. Source: Cointelegraph/TradingView

The upsloping 20-day EMA ($3.58) and the RSI in the positive zone indicate advantage to buyers. The bulls will try to strengthen their position by pushing the price above $4.14. If they can pull it off, the TON/USDT pair may start a new upmove to $5 and, after that, to $5.65.

Sellers will have to yank the price below the $3.3 support to seize control. Such a move signals that bears remain sellers on rallies. The pair could plummet to $2.81 and eventually to $2.64.

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

The pair turned up from the uptrend line, indicating that the bulls are viewing the dips as a buying opportunity. The pair could reach the overhead resistance of $4.14, where the bears are expected to step in. However, if buyers pierce the resistance, the pair could start the next leg of the upmove toward $5.

The bears will be back in the driver’s seat if they sink and sustain the price below the uptrend line. The pair may then drop to $3.28.

*Cronos price analysis*

Cronos (CRO) broke out of the moving averages on March 24, signaling that the downtrend could have ended.

CRO/USDT daily chart. Source: Cointelegraph/TradingView

The CRO/USDT pair is facing selling near $0.12, but a positive sign in favor of the bulls is that they have not allowed the price to sustain below the $0.10 support. This suggests that buyers are trying to form a higher low. If the bulls shove the price above $0.12, the pair could rally toward $0.14.

Sellers are likely to have other plans. They will try to sink the price below the moving averages and trap the aggressive bulls.

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

The pair has been range-bound between $0.10 and $0.12, indicating indecision between the bulls and the bears. The 20-EMA is sloping up gradually, and the RSI is just above the midpoint, giving a slight edge to the bulls. A break and close above $0.11 increases the likelihood of a rally above $0.12.

Sellers will be back in the driver’s seat if they sink and maintain the price below the 50-SMA. That could pull the pair down to $0.08.

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

*Mantle price analysis*

Mantle (MNT) failed to rise above the 50-day SMA ($0.84) in the past few days, but a positive sign is that the bulls are trying to hold the price above the 20-day EMA ($0.80).

MNT/USDT daily chart. Source: Cointelegraph/TradingView

If the price rebounds off the 20-day EMA with strength, it will suggest a change in sentiment from selling on rallies to buying on dips. That improves the prospects of a break above the 50-day SMA. If that happens, the MNT/USDT pair could ascend to $0.94 and later to $1.06.

Contrary to this assumption, if the price continues lower and breaks below $0.77, it will tilt the short-term advantage in favor of the bears. The pair may then tumble to $0.72, delaying the start of the up move.

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

The 4-hour chart is facing stiff resistance at $0.85. The pair may dip to $0.77, which is a critical support to watch out for. If the price rebounds off $0.77, it will signal that the bulls are buying on dips. That could keep the pair stuck between $0.77 and $0.85 for some time. A break and close above $0.85 could push the pair toward $0.95.

Sellers will have to pull the price below $0.77 to gain the upper hand. The pair could then drop toward $0.69.

*Render price analysis*

Render (RNDR) has been in a strong downtrend for several weeks, but the bulls pushed the price above the 50-day SMA ($3.77) on March 25, signaling demand at lower levels.

RNDR/USDT daily chart. Source: Cointelegraph/TradingView

The bears have pulled the price to the 20-day EMA ($3.57), which is an important level to watch out for. If the price rebounds off the 20-day EMA with force, the bulls will try to propel the RNDR/USDT pair to $5 and later to $6.20.

This positive view will be invalidated in the near term if the price continues lower and closes below $3.05. That signals aggressive selling at higher levels. The pair may slump to $2.83 and subsequently to $2.52.

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

The 20-EMA has turned down, and the RSI is in the negative territory on the 4-hour chart, indicating an advantage to sellers. A break and close below the uptrend line will further strengthen the bears, pulling the pair to $3.

The first sign of strength will be a break and close above the moving averages. That could open the doors for a rally to $4. The up move could accelerate after the pair closes above $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.