The following are key points.
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Bitcoin’s bullish movement has diminished, increasing the chances of a $100k correction.
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Altcoins tend to consolidate around their closest support levels and follow Bitcoin’s price.
Bitcoin’s (BTCThe failure of the short-term buyer to make a profit due to the lack of a price increase above $109-588 could have been a factor in their decision. The price dropped below $104,000 by May 30, a result of this. US Bitcoin ETFs recorded a net outflow of $347 million CoinGlass reports that on May 29 it was the first time since May 13 that CoinGlass has seen a withdrawal.
Nick Forster is the founder and CEO of Derive. He told Cointelegraph Bitcoin is likely to enter a consolidation phaseThe upcoming. “a healthy pause” Before another “significant upward movement.”
Willy Woo also had the same opinion. Woo stated in a blog post at X that this week is critical. a lack of follow-through Could result in a second consolidation.
The long-term outlook has not changed despite the short-term correction. Stockmoney Lizards, a trading account on X said that Bitcoin could rally up to $200,000 in 2025 Next year, the move could be extended to $250,000.
What are the critical levels of support that could stop Bitcoin’s and altcoin’s decline? Find out by analyzing the charts for the 10 most popular cryptocurrencies.
Bitcoin price prediction
Bitcoin is now back at the 20-day moving exponential average (105,485). This will likely lead to a fierce battle between bulls and bears.
BTC/USDT may fall to the $100,000 mark if it closes under the 20-day EMA. It is likely that buyers will fiercely defend the area between $100,000 and 50-day simple Moving Average ($97,775). Bulls are expected to try and push the pair up to $109 588 if the price bounces off of the support zone.
A positive attitude is indicated if, on the other hand, the price rises from the 20 day EMA. It increases the chances of the pair breaking through the resistance level at $111 980. It is possible that the pair will then rise to $130,000.
Prediction of Ether prices
Ether is being pushed by buyers (ETH() remained above the resistance of $2,738 on 29 May but was unable to sustain higher levels. The price was dragged to the upward trend line by profit-booking on May 30.
Buyers are in a better position if the 20-day EMA is upsloped ($2,497), and RSI is positive. Bulls may try again to overcome the $2,738 obstacle if the price bounces off the upward trend line. They will have completed an ascending triangle. If they can pull it off, the pair will complete an ascending triangle pattern.
In the opposite, a close and break below the 20-day EMA nullifies the bullish set up. The pair could fall to $2.323, then down to the SMA 50 days ($2,098).
XRP price prediction
It is a cryptocurrency that allows you to buy and sell XRP.XRPOn May 30, the price of ) fell below the 50 day SMA (2.25), indicating the bulls had been beaten by the bears.
The XRP/USDT pairing could reach the firm support at $2. It is likely that buyers will defend $2 with their lives because breaking below the level increases the likelihood of a decline. This pair may first try to retest $1.61, and then fall as low as $1.27.
It is more likely that if price bounces back from $2 it means the bulls will try to keep the pair in the range of the previous few days. For the bulls to take control they will need to push the price over $2.65.
BNB price prediction
BNB fails to dislodge buyersBNB(above the resistance of $693 on May 29 resulting in the pullback to an uptrend line.
Positive sentiment is indicated by a bounce from the upward trend line. To complete the ascending bullish triangle pattern, buyers will need to close above $693. If buyers do this, they could see the BNB/USDT rise to $732. Later the pair may reach the $752 pattern target.
In contrast, a breach below the 20-day EMA (661) invalidates a bullish setup. The aggressive bulls could be trapped, and the pair would fall to the $644 level of support. Later it will reach the 50-day SMA.
Solana price prediction
Solana (SOL) broke below the 20-day EMA ($168) on May 29, signaling profit-booking by short-term traders.
SOL/USDT could fall to $153, which will likely attract buyers. Price rebounding from the 153 level with a break above the 20 day EMA indicates a possible range in the short term.
On a breakdown above $180, or below $153, the next trending movement is anticipated to begin. The pair may rally up to the resistance level of $210 or $220 if the bulls push the price over $180. A break below $153 could send the pair down to $141, and then to $133.
Dogecoin price prediction
DogecoinDOGEOn May 30, the, plunged beneath the $0.21 resistance level and brought into play the wide $0.26-$0.14 range.
Support is at the 50 day SMA ($0.19) but, if it breaks, DOGE/USDT may drop as low as $0.16. The zone between $0.16-$0.14 is expected to be fiercely defended by buyers, because a breach below this level could send the DOGE/USDT pair down to $0.10. The pair could remain in the range for a while if the price bounces back off of the zone between $0.16 and $0.14.
The next upward movement will begin when buyers push the price past the resistance of $0.26. This pair may then rise to $0.34.
Cardano price prediction
Cardano (ADA) fell below the neckline of the inverse H&S pattern on May 29, and the bears pulled the price below the 50-day SMA ($0.71) on May 30.
The bulls will leave if the price continues to stay below the SMA of 50 days. The ADA/USDT pairs could fall to $0.60. This is where we expect buyers to enter. If the pair bounces off of $0.60, it could indicate that a potential range is likely to form in near-term.
To signal their strength, the bulls need to maintain and push above the EMA (20-day) ($0.74). Watch out for the pair to rise up to $0.86 overhead resistance, which is an important level. The pair could reach $1.01 if the break and close is above $0.86.
Related: How low can the Bitcoin price go?
Sui price prediction
Sui (SUIThe 50-day SMA for ($3.30) was broken on May 30. This indicates that the lower price levels are still attracting buyers.
To signal their strength, the bulls need to maintain and push prices above the 20-day EMA (currently $3.64). SUI/USDT may climb up to $3.90-$4.25 as resistance.
In contrast to the assumption made, a price that turns downwards from the 20 day EMA indicates a negative sentiment and traders selling during rallies. This increases the likelihood of the pair breaking below the SMA. This pair may then plunge to $2.86, a strong support.
Hyperliquid price prediction
Hyperliquid is attempting a bounce-off the 20 day EMA ($30.32), however, the candlestick’s long wick signals selling during rallies.
Bulls must push price over the overhead resistance of $35.73 to open the way for an uptrend to $40, and then to $42.50. At $42.25 sellers will likely mount a fierce defense, but if bulls win the battle the pair could reach $50.
In the short term, this positive outlook will be nullified if price breaks down below the 20 day EMA. This could push the pair to $28.50, and then to the SMA 50 days ($23.33).
Chainlink price prediction
Chainlink’s (LINKIt is possible that short-term investors have been tempted to take profits because the price has not maintained above resistance.
The bears are trying to sustain the price below the neckline of the inverse H&S pattern. It would indicate that markets rejected the break from the bullish set-up if they were to succeed. This could bring the LINK/USDT to $13.20 and extend the time spent in the descending pattern.
A break-out and close over $18 will signal strength. A move like this suggests strong buying below the current levels. It also opens the door for an uptrend to the 20.50 pattern target.
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Source: cointelegraph.com
