A synchronized rebound brought by Ethereum, Cardano and Solana
Bitcoin trades at $71,722, up 4.07% over 24 hours, after touching $68,917 the day before. The movement extends the momentum already observed on April 7 (+4.46%), bringing the price to its highest level since mid-March, when it briefly flirted with $74,884.
Altcoins clearly amplify this dynamic. Ethereum displays the strongest progression of the panel with +6.7%, to $2,255, after a seven-day streak during which ETH regularly outperformed BTC – the weekly correlation remaining high but with a beta clearly higher than 1. Cardano progresses by 6.47% to $0.26, while Solana gained 5.67% to $84.60.
This collective rebound follows an episode of marked weakness between the end of March and the beginning of April: Bitcoin had fallen by almost 12% between its peak of March 16 ($74,884) and its trough of March 29 ($66,010). The current recovery erases a significant part of this decline, but the price remains significantly below its 200-day moving average, located at $88,937.
Technical indicators still in the neutral zone despite the acceleration
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Despite the magnitude of the movement, momentum indicators do not signal overheating. Bitcoin’s RSI stands at 59.25, up sharply from the 28.11 recorded on March 30 – a level which then reflected a pronounced oversold – but still far from the bullish excess zone. Ethereum displays an RSI of 60.83, consistent with an ongoing recovery without a runaway signal.
On the altcoin side, the RSI of Solana (51.42), Ripple (51.56) and Binance Coin (49.67) gravitate around neutrality, which explains the technical sell signals issued on these three assets whose prices remain below their respective 50-day moving averages. Solana, at $84.60, is thus evolving just below its 50MA at $85.46, a threshold whose crossing could modify the short-term reading.
On the macro level, the VIX, most recently raised to 23.87, fell slightly by 2.73% – a level of equity volatility which remains above the historical average.
Bitcoin is approaching its technical resistance identified at $76,000, a level which will constitute a decisive test for the rest of the movement.
