The key point is:
BitcoinBTC( ) is pinned under the $109,588 breakout level, indicating the bears fiercely defend the level. Bitfinex analyst said that after Bitcoin has reached a record high, profit-taking is common. It was also noted that the report stated: mild retracement or consolidation would be healthy It is important to lay the groundwork for the next level.
Glassnode also held a similar opinion. According to its latest report by the company, relative strength (RSI), the indicator has weakened. suggesting easing momentumThis could cause a number of problems. “a potential pause or reversal in the recent bullish trend.”
The dips may be purchased even in the event of a market correction. Keith Alan is still bullish, as Bitcoin keeps trading above $100,000. The whales also continue to accumulate. He expects Bitcoin to find support near the $94,000 level.
What levels should you be watching for when it comes to Bitcoin and altcoins. We’ll find out by analyzing the charts for the 10 most popular cryptocurrencies.
Bitcoin price prediction
Bitcoin’s inability to hold above $109,588 may have led short-term investors to sell.
Bears are likely to try and pull price down to the 20 day exponential moving average (105,453). This is an important level. It is a sign that sentiments are positive. If price bounces off 20-day EMA, traders will buy on dips. This increases the chances of another test of $111,980. BTC/USDT may surge up to $130,000, if buyers can overcome the resistance of $111980.
In contrast, a close and break below the 20-day EMA may strengthen the bears. The pair may then plunge to the crucial psychological support of $100,000. Bulls are likely to buy in large quantities.
Price prediction for Ether
Ether was not allowed to be purchased by the buyers.ETHThey have continued to press the price above $2,738 on the 27th of May.
The ETH/USDT pairs has formed a triangle with a bullish pattern that will be completed when it breaks through and closes over $2,738. This opens the way for an upswing to $3,000, and then to the target pattern of $3153.
The optimistic view of the future will not be validated if in the short-term the price drops and falls below the 20 Day EMA (currently $2,467). If a bullish pattern fails, it could trap bulls who will sink the pair below $2,323 or to as low as $2,111.
XRP price prediction
The XRP currency (XRP( ) is trading within the moving averages. This indicates a lack aggressive buying and selling.
The 20-day EMA is flattish ($2.33), and the RSI at the midpoint does not provide a clear edge to either the bulls nor the bears. If the pair XRP/USDT dips beneath the 50-day moving average ($2.24) it could plunge to the $2 level. It is likely that buyers will defend $2 because breaking below the level could bring the pair as low as $1.61.
To the upside, a breakout and close above 20-day EMA can trigger a rally towards $2.65. To reach $3, buyers will have to push the pair over $2.65.
BNB price prediction
Buyers pushed BNB (BNB() could only reach a level slightly higher than the resistance of $693 on 27 May, but not maintain the new levels.
Price action over the last few days formed a triangle with a bullish upwards trend. This pattern will be completed on a close and break above $693. If this happens, then the BNB/USDT pairs could rise towards its pattern target of $702.
On the downside, the 20-day EMA (658) represents the key support. If the price breaks below the 20-day EMA, the bulls will likely cover up their positions. The pair could be pushed to the SMA 50 days ($622).
Solana price prediction
Solana (SOL) has been consolidating inside a narrow range between the 20-day EMA ($169) and the overhead resistance at $180.
The bulls may be taking profits if they break below the 20-day EMA. SOL/USDT may drop to $159 before reaching the 50-day SMA (153). This is expected to draw buyers. The pair’s price could fluctuate between $180 and $153 for a while if the price bounces off of the 50-day SMA.
Breaking and closing above $180 will signal the return of upward movement. The pair might gain momentum and surge to the $210-220 resistance zone.
Dogecoin price prediction
Dogecoin sellers are trying to remove it (DOGE) below the immediate support at the 20-day EMA ($0.22).
They could succeed in bringing the pair DOGE/USDT down to its horizontal support of $0.21. The $0.21 support level is expected to be defended with all the force of the buyers, as a breach below this could send the DOGE/USDT pair down to the 50 day SMA ($0.19). This move opens up the $0.14-$0.26 range.
A rebound from $0.21 indicates that the bulls have been defending this level vigorously. This could hold the pair in the range of $0.21-$0.26 for several more days.
Cardano price prediction
Cardano has been able to be kept by buyers (ADA) above the neckline of the inverse head-and-shoulders (H&S) pattern, but the bounce lacks strength.
It increases the chance of the pair breaking below the SMA for the last 50 days, which is $0.70. The ADA/USDT pairs could fall to the support level of $0.60 if this happens. The markets are rejecting the breakout.
The price will need to be pushed above resistance of $0.86 to signal the return to the upward trend. It is possible that the pair will rally up to $1.01 where bears could mount a fierce defense.
Related: SUI price chart hints at 2x rally amid Nasdaq ETF filing
Sui price prediction
Sui (SUI) turned down from the 20-day EMA ($3.66) on May 28, indicating that the sentiment remains negative and the traders are selling on rallies.
Bears are going to try and sink the SUI/USDT to the key 50-day SMA level ($3.24). This is an important area to watch. Bulls may try to overcome the 20 day EMA hurdle if price bounces off 50-day SMA. They may be able to rally the pair to the $4.25 to $3.90 overhead area if they succeed.
A break-and-close below the SMA of 50 days suggests the bears are still in charge. This pair may then plummet to $2.86.
Hyperliquid price prediction
Hyperliquid (HYPE), which was trading at $40, dropped to $35.73 by May 28, after breaking below its previous breakout point of $40.
The HYPE/USDT could continue to slide if this level breaks. It may even reach the 20-day EMA (30). The 20-day EMA may be a strong resistance for buyers, but they will attempt to bounce back off it.
A break-out and close over $35.73 will signal strength. This indicates a strong demand for lower prices. Bulls will make a final attempt to push the pair up to $42.25 as the resistance overhead.
Chainlink price prediction
ChainlinkLINK) continues to find support at the neckline of the H&S pattern, but the bulls have failed to start a strong rebound.
The 20-day EMA (15.66 USD) has flattened out and the RSI (relative strength index) is close to the middle, indicating a balanced supply/demand. To gain an advantage, buyers will need to raise the price to $18. If buyers do this, they could see the LINK/USDT price rise as high as $19.80.
In contrast, if price breaks down below 50-day SMA (14.68), then it indicates the markets rejected the breakout over the resistance line. It could drop as low as $13.20.
The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making any kind of decision.
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Source: cointelegraph.com
