Bitcoin staged a strong rebound and is now hovering near the $78,000 level after a dramatic sell-off over the weekend. The drop below the psychological $80K mark came right after US stock futures opened sharply lower on April 6, dragging BTC to a new year-to-date low of $74,508 on April 7. But that dip was met with aggressive buying as bulls stepped in to defend the zone. The wider macro environment remains bearish, with the US stock market’s Fear & Greed Index plunging to just 4 out of 100 a level that usually signals capitulation.

This kind of panic often sets the stage for a bottom, where weaker hands exit and strong hands start loading up. A fast recovery could follow, but given the high volatility, it’s smart to stay cautious and avoid going heavy on leverage right now.

Bitcoin has broken out above its resistance line as of April 12, and the bulls managed to defend that level during the retest on April 13. This move shows the selling pressure is cooling off, with the 20-day EMA now flattening and the RSI hovering near neutral territory. BTC/USDT looks set to test the $89,000 zone next, which will likely act as a tough ceiling. If the price gets rejected sharply from that level and dips back below the 20-day EMA, it could signal a range-bound phase, with BTC chopping between $89,000 and $73,777 for a while. For the bears to regain control, they’ll need to force the price back below the 20-day EMA quickly. If that happens, BTC might slide down to $78,500 and then retest the major support around $73,777.

Ether is struggling to break through the 20-day EMA near $1,722, as shown by the long upper wick on the April 14 candle—indicating selling pressure at that level. If ETH drops below $1,546, there’s a good chance it will head back to test key support at $1,368. That’s a must-hold zone for the bulls because a break below could open the door to a deeper drop toward $1,150. On the flip side, if buyers manage to push the price above the 20-day EMA, it would be a sign that the bears are starting to lose control.

ETH may then push past the 50-day SMA around $1,955 and aim for the stronger resistance zone at $2,111.

Lastly please check out the advancement’s happening in the cryptocurrency world

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