Bitcoin price cools going into Fed rate hike week, HYPE, AAVE, RNDR, FET still look bullish

Key points: Bitcoin’s positive sentiment should remain intact if BTC price stays above the 20-day EMA near $92,000. Several altcoins show bullish chart patterns in the 4-hour and 1-day timeframes. Bitcoin ( BTC ) has given back some of the gains over the weekend, and the price has pulled back to the breakout level of $95,000. Buyers will have to successfully hold the $95,000 level to keep the bullish momentum intact. Bitcoin network economist Timothy Peterson said in a post on X that Bitcoin could surge to a new all-time high and reach a target of $135,000 in the next 100 days if certain conditions are met. Peterson believes a drop in the CBOE Volatility Index below 18 could trigger a “risk-on environment” favoring Bitcoin. The other crucial points needed for the Bitcoin rally are a fall in interest rates and a solid performance in the above-average performing months of June and July. Crypto market data daily view. Source: Coin360 The cryptocurrency markets may remain volatile in the near term as traders await the Federal Reserve’s upcoming interest rate decision next week . Although the CME Group’s FedWatch Tool projects a low probability of a rate cut on May 7, markets may make a decisive move after the event. Could Bitcoin hold the retest of the $95,000 level? If it does, let’s study the charts of the cryptocurrencies that may move higher in the near term. Bitcoin price prediction Bitcoin broke above the $95,000 resistance on May 1, but the bulls failed to sustain the momentum. The price turned down from $97,895 on May 2 and has reached the breakout level of $95,000. BTC/USDT daily chart. Source: Cointelegraph/TradingView The upsloping 20-day exponential moving average ($92,106) and the relative strength index (RSI) in the positive territory indicate that buyers have the edge. If the price rebounds off the zone between $95,000 and the 20-day EMA, the bulls will make one more attempt to push the BTC/USDT pair to $100,000. Contrarily, a break and close below the 20-day EMA suggests that the rally above $95,000 may have been a bull trap. That heightens the risk of a drop to the 50-day simple moving average ($86,682). BTC/USDT 4-hour chart. Source: Cointelegraph/TradingView The moving averages have flattened out, and the RSI has dropped near the midpoint on the 4-hour chart, suggesting a weakening momentum. If the price drops below $95,000, the pair could descend to $92,800 and then to $91,660. A break below $91,660 clears the path for a fall to $86,000. Buyers will have to drive and sustain the price above $97,895 to regain control. The pair could climb to $100,000 and later to $107,000. Hyperliquid price prediction Hyperliquid ( HYPE ) is facing resistance at $21.50, but a positive sign is that the bulls have not ceded much ground to the bears. HYPE/USDT daily chart. Source: Cointelegraph/TradingView The upsloping 20-day EMA ($18.48) and the RSI near the overbought zone suggest the path of least resistance is to the upside. A close above $21.50 could start the next leg of the up move to $25 and then to $27.50. The first sign of weakness will be a break and close below the 20-day EMA, suggesting profit booking by the short-term bulls. The HYPE/USDT pair could then fall to $17.35, which is likely to act as solid support. HYPE/USDT 4-hour chart. Source: Cointelegraph/TradingView The bears are defending the $21.50 level, but the bulls have not allowed the price to slip below the 20-EMA on the 4-hour chart. A solid bounce off the 20-EMA could challenge the overhead hurdle. If the $21.50 level is scaled, the pair could soar toward $25. Instead, if the price breaks the 20-EMA, select short-term buyers may be tempted to book profits. That could sink the pair to the 50-SMA, which is a critical support to keep an eye on. If the level cracks, the pair may descend to $17.35. AAVE price prediction Aave ( AAVE ) turned up from the moving averages on April 30, indicating that the sentiment has turned positive and traders are buying on dips. AAVE/USDT daily chart. Source: Cointelegraph/TradingView The bulls will try to push the price to the $196 level, where the bears are expected to sell aggressively. If the price turns down from $196 but finds support at the 20-day EMA, the likelihood of a break above the overhead resistance increases. The AAVE/USDT pair could then travel to $220 and later to $240. If bears want to prevent the upside, they will have to swiftly pull the price below the moving averages. If they can pull it off, the pair may collapse to $130. AAVE/USDT 4-hour chart. Source: Cointelegraph/TradingView The pair is facing selling near $180, but a positive sign is that the bulls have maintained the price above the moving averages. If the price turns up from the moving averages and breaks above $180, the pair could accelerate toward $196. There is minor resistance at $190, but it is likely to be crossed. Contrary to this assumption, if the price turns down and breaks below the 50-SMA, it suggests that the bulls are booking profits. That may pull the price down to $155 and subsequently to $150. Related: Ethereum nears key Bitcoin price level that last time sparked 450% gains Render price prediction Buyers tried to push Render ( RNDR ) above the $4.87 resistance on May 2, but the bears held their ground. RNDR/USDT daily chart. Source: Cointelegraph/TradingView The price has reached the 20-day EMA ($4.31), where the bulls are likely to mount a strong defense. If the price bounces off the 20-day EMA, it increases the possibility of a break above $4.87. If that happens, the RNDR/USDT pair could pick up momentum and climb to $6.20. This positive view will be negated in the near term if the price continues to slide and breaks below the $4.22 support. That opens the doors for a fall to the 50-day SMA ($3.80) and, after that, to $3.55. RNDR/USDT 4-hour chart. Source: Cointelegraph/TradingView Sellers have pulled the price to the $4.22 support, which is an important support to watch out for. If the price rebounds off $4.22 with strength, it signals a possible range formation in the near term. The pair may swing between $4.22 and $4.87 for some time. A break and close above $4.87 indicates the resumption of the up move toward $5.52. On the contrary, if the price continues lower and breaks below $4.22, it suggests that the bears are attempting a comeback. The pair may decline to $3.88. Fetch.ai price prediction Fetch.ai ( FET ) turned down from the $0.84 overhead resistance and has reached the 20-day EMA ($0.65). FET/USDT daily chart. Source: Cointelegraph/TradingView The bulls will try to arrest the pullback at the 20-day EMA. If the price rebounds off the 20-day EMA with force, the FET/USDT pair could reach the $0.84 level. A break and close above $0.84 opens the doors for a possible rise to $1.09. Sellers are likely to have other plans. They will try to pull the price below the 20-day EMA. If they manage to do that, the pair could fall to the 50-day SMA ($0.54), where the buyers are expected to step in. FET/USDT 4-hour chart. Source: Cointelegraph/TradingView The pair has reached the crucial support at $0.67. If the price rebounds off $0.67, the bears will try to halt the relief rally at the moving averages. If the price turns down from the moving averages and breaks below $0.67, it suggests that the bulls have given up. That could drag the pair down to $0.60. Alternatively, a break above the moving averages signals demand at lower levels. That suggests a possible range formation between $0.67 and $0.80. The uptrend could resume on a close above $0.80. 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.