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Bitcoin is approaching a key technical phase, with price action moving toward levels that could determine the next trend. Recent data shows the asset nearing a multi-month resistance trend line, while market attention is increasingly focused on the 200-day moving average in the $83,000–$84,000 range.
This level is being monitored as a more reliable indicator of confirmation than the trend line itself, especially after April delivered stronger-than-expected performance despite earlier projections of continued downside.
On the daily chart, Bitcoin continues to test the upper boundary of a descending structure that has formed since the prior highs. Although a break above this trend line would mark an initial step, Dan Gambardello, a crypto analyst, argues that a long-term move above the 200-day moving average would carry greater weight in confirming a broader reversal.
Bitcoin is moments away from a macro breakout.
— Dan Gambardello (@dangambardello) May 4, 2026
But the trend line isn't the level that matters.
The 200-day is.
Watch $83–84K. That's where bulls earn confirmation.
Very similar story with altcoins like ETH, SUI, and ADA. pic.twitter.com/0LOryGL5LZ
At the same time, Bitcoin has remained above its shorter-term moving averages, including the 20- and 50-day levels. This shift corresponds to a stronger short-term structure, yet resistance remains intact at higher levels.
If the asset fails to break through, price could rotate back toward the middle of the channel, with the possibility of support forming near $73,000–$74,000, where the 50-day moving average aligns with previous consolidation zones.
Ethereum Tracks Similar Pattern With Key Resistance Ahead
Ethereum is showing a closely aligned structure, pushing toward a resistance trend line while forming a series of higher lows. The next upside level is near $3,400, though this target depends on a confirmed breakout above current resistance.
Momentum has strengthened compared to earlier phases, particularly as Ethereum has held support across short-term moving averages. However, confirmation of a broader shift remains dependent on higher-level timeframes.
On the weekly chart, as highlighted by Dan Gambardello, the asset is now testing the 20-week moving average around $2,300–$2,400, a level that has historically separated bearish conditions from stronger upward trends. Until this level is reclaimed with consistent closes, the structure remains transitional.
Altcoins Remain Compressed as Key Levels Near
Across the altcoin market, ongoing consolidation continues to define price action, with compression visible in multiple assets, including Cardano and Sui. For Sui, immediate resistance is located near $1, while a high level sits at the 20-week moving average around $1.09–$1.10.
Similarly, Cardano is approaching its own resistance zone, with $0.26 acting as a short-term threshold and $0.29 marking the 20-week moving average. These levels are being tracked as possible confirmation points rather than early breakout signals.
Related: Bitcoin Eyes $90K in May as Recovery Holds Above Key Support