Bitcoin price recovery sets base for TON, AVAX, NEAR, OKB to rally

Sun, 23 Mar 2025 17:58:11 +0000
Markets

Bitcoin (BTC) bulls are trying to make a comeback by maintaining the price above the 200-day simple moving average ($84,899) over the weekend. Bitget Research chief analyst Ryan Lee told Cointelegraph that Bitcoin needs to close above $85,000 this week to signal strength and “prevent a drop to $76,000.” Lee added that a close above $87,000 would give a clearer bullish confirmation.

Tariff wars have rocked both traditional markets and the cryptocurrency markets in the past few days. Nansen research analyst Nicolai Sondergaard believes the markets may remain under pressure until April 2. While speaking on Cointelegraph’s Chainreaction daily X show, Sondergaard said that if the tariffs get dropped, it could act as “the biggest driver at this moment.”

Crypto market data daily view. Source: Coin360

Although analysts remain bullish for the long term, some expect a short-term decline. Analyzing previous bear market declines, market analyst and author Timothy Peterson said in a post on X that the current bear market should only last for 90 days. The analyst anticipates a fall in the “next 30 days followed by a 20-40% rally sometime after April 15th.”

If Bitcoin starts a sustained recovery, several altcoins could follow suit. What are the top cryptocurrencies that look strong on the charts?

*Bitcoin price analysis*

Bitcoin is struggling to rise and sustain above the 20-day exponential moving average ($85,246), but a positive sign is that the bulls have not ceded much ground to the bears.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

That increases the possibility of a break above the 20-day EMA. If that happens, the BTC/USDT pair could rise to the 50-day SMA ($90,469) and thereafter to $95,000.

Conversely, if the price turns down from the 20-day EMA and breaks below $81,000, it suggests that the bulls have given up. That could sink the pair to $80,000 and subsequently to $76,606. Buyers are expected to defend the $76,606 level because a break below it may deepen the correction. There is strong support at $73,777, but if the level falls, the next stop could be $67,000.

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

Both moving averages are flattish, but the relative strength index (RSI) has risen into the positive zone. That suggests the bullish momentum is picking up. The first sign of strength will be a close above $87,500. That could open the gates for a rise to $92,500 and later to $95,000.

The advantage will tilt in favor of the bears on a break and close below $80,000. That could sink the pair to solid support at $76,606.

*Toncoin price analysis*

Toncoin (TON) turned down from the $4 level on March 20, but the bulls have held the price above the moving averages.

TON/USDT daily chart. Source: Cointelegraph/TradingView

The moving averages are on the verge of a bullish crossover, and the RSI has jumped into the positive zone. That improves the prospects of a break above $4. If that happens, the TON/USDT pair could surge to $5.

This positive view will be invalidated in the near term if the price turns down and breaks below the 20-day EMA ($3.39). That could pull the pair to $2.81 and then to the solid support at $2.73.

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

The pair is taking support at the 20-EMA on the 4-hour chart, signaling that the bulls are buying the dips. However, the bears are unlikely to give up easily. They will fiercely defend the $3.80 to $4 overhead zone. Sellers will be back in command on a break and close below $3.28. That could start a fall toward $2.90.

On the upside, a break and close above $4 signals an advantage to the buyers. There is minor resistance at $4.14, but it is likely to be crossed. The pair may run toward $4.67.

*Avalanche price analysis*

Avalanche (AVAX) has been in a strong downtrend, but the positive divergence on the RSI suggests that the bearish momentum may be weakening.

AVAX/USDT daily chart. Source: Cointelegraph/TradingView

The AVAX/USDT pair has been clinging to the 20-day EMA ($19.76), increasing the likelihood of a breakout. If that happens, the pair could climb to the 50-day SMA ($22.41) and subsequently to the $25.12 to $27.23 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 the $15.27 support. That could extend the decline to $11.

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

The pair has been trading inside a narrow range between $20.10 and $18.12 on the 4-hour chart. The 20-EMA is trying to move up, and the RSI is in the positive territory, giving a slight advantage to the bulls. If the price breaks above $20.10, the pair may ascend to $21.20 and then to $22.50.

Alternatively, if the price turns down and breaks below $18.12, it suggests that the bears are trying to retain control. The pair may slump to $16.95 and eventually to $15.27.

*Related: **Why is Bitcoin price stuck?*

*Near Protocol price analysis*

Near Protocol (NEAR) has been in a strong downtrend, but it is showing early signs of starting a reversal.

NEAR/USDT daily chart. Source: Cointelegraph/TradingView

The positive divergence on the RSI suggests that the bears are losing their grip. A break and close above the 50-day SMA ($3.05) could strengthen the bulls, opening the gates for a rally to $3.65. Sellers are expected to aggressively defend the $3.65 level, but if the bulls prevail, the NEAR/USDT pair may rise to $5.

Contrarily, if the price turns down and breaks below $2.48, it suggests that the bears remain in control. The pair could then drop to the solid support at $2.14.

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

The 4-hour chart has been trading above the 20-EMA, indicating that the bulls are holding on to their positions as they anticipate another leg higher. A break above $2.83 could start a move toward $3.25. Sellers are expected to defend the $3.25 level, but if the bulls pierce the resistance, the next stop could be $3.65.

This optimistic view will be negated in the near term if the price turns down and breaks below the moving averages. The pair may decline to $2.48 and, after that, to $2.34.

*OKB price analysis*

OKB (OKB) has been trading inside a descending channel pattern, indicating buying near the support line and selling close to the resistance line.

OKB/USDT daily chart. Source: Cointelegraph/TradingView

The OKB/USDT pair picked up momentum after breaking out of the 20-day EMA ($48.39) on March 14. The pair is facing selling near $$54, 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 ($47.56), it signals that the bears remain active at higher levels. The pair may then tumble to $45.

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

Sellers are trying to pull the price below the 50-SMA on the 4-hour chart. If they succeed, it could weaken the bullish momentum. There is support at $48, but if the level breaks down, the pair could drop to $45.

Instead, a solid bounce off the 50-SMA suggests that the sentiment remains positive and bulls are buying on dips. The up move could resume above $54, opening the doors for a rally to the resistance line.

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.