Bitcoin Price Analysis
For three days, bitcoin has been consolidating between $68K and resistance. Breakouts from very tight trading ranges near key resistance levels are typically to the upside.
The 20-day EMA ($64,371) is turning up, and the RSI in the positive zone indicate an advantage to the bulls. Should Bitcoin go above the $68,000 level, the BTC/USDT pair could move higher toward at least $73,777 positions, which many bearish traders are waiting for to unwind.
The only negative is that the moving averages are now crucial support levels. On the downside, if BTC/USD breaks and closes below these moving averages, it would suggest that bulls are becoming weak, which might increase selling pressure around $62,000 on their way to $59.600 before taking another dive towards dropping at the next psychological barrier of $56.552
BTC/USDT daily chart. Source: TradingView
Ether price analysis
ETH/USDT daily chart. Source: TradingView
The failure of ether (ETH) at the resistance line on May 19 refuelled a selling frenzy, which took prices down to the 20-day EMA ($3,048).
If the bulls manage to push the price above this resistance line, it can signal that a trend reversal might take place soon. A breakout and close above $2,800 will propel the ETH/USDT pair to $3,400 and then to the overhead resistance at $3,730 if the Bulls manage a successful break.
To keep control, the bears will have to sink the price below the 20-day EMA and then $2,850 support. On the other hand, a break below this level could send GBPJPY descending down channel support.
BNB price analysis
BNB/USDT daily chart. Source: TradingView
BNB has been trading around the moving averages ($624) for the past few days, highlighting a battle between bulls and bears.
The flat moving averages and the RSI below 50 suggest that insiders have a slight advantage on balance. A break below the support line of a triangle will mean an advantage to bears, and that is likely to see BNB/USDT drop back down to $536.
On the other hand, if the price bounces off the support line and rises above $435.0304, then it is seen as an advantage for bulls to take overall control of litecoin prices, with a task now well clearly set up to test overhead resistance at $635.
Solana Price Analysis
Solana (SOL), trading at $180, has been steadily approaching the immediate resistance at $185, indicating bullish demand.
SOL/USDT daily chart. Source: TradingView
On May 19, bears tested the $162 breakout level, trying to push the price below, yet bulls stood their ground. Even though the $185 level could present a small hurdle, if the bulls reclaim it, SOL/USDT may be on its way to achieving what would otherwise target $205.
Conversely, if the price slips from the current level of $185 and drops below both moving averages, it would confirm bearish at higher levels that could result in a retest of our second support region around $140.
XRP Price Analysis
XRP/USDT daily chart. Source: TradingView
Although XRP is trading at $0.54, it moved above the 20 EMA on May 17, which was at $0.52, but has since been unable to hold up to higher levels as its later pullbacks are being sold by bears documenting the dominant bear trend during relief rallies efforts furthermore adopt current price lows in a sell from sight tactic developments a forgone related possibility even more unlikely than the presence of this pattern (bear reaction short coverage may explain the process).”
The price is squeezed between the ort line and 50-dthe ay SMA ($0.53). A flattening 20-day EMA and the RSI just below the midpoint suggest a balance between supply and demand.
A break and close below the support line will bring it lower to 0.46 level, which is important for pair XRP/USDT. The bulls are likely to buy the dip at this level, but if it cracks down, then the pair is susceptible to a further fall to the $0.41 level. Contrary to this assumption, if the bulls propel the price above the 50-day SMA, few relief rallies can be pushed to $0.
Toncoin price analysis
TON/USDT daily chart. Source: TradingView
For the better part of a week, Toncoin (TON) has traded in $4.72 to $7.67, which doesn’t make sense from my perspective and shows that clearly no one really knows where it goes next, up or down.
The flattening 20-day EMA ($6.35) and the RSI near the midpoint suggest that TON/USDT may consolidate for a few more days. Suppose the price rebounds off the moving averages strongly. In that case, once again, the pair is likely to make another attempt to climb above the $7.67 overhead resistance level and be a good buying opportunity.
Conversely, a fall in the price slithering below $6.02 and a 50-day SMA will favour bears with a slight edge). From there, the pair could fall to $4.72, which is a critical level bulls are likely to defend aggressively.
Dogecoin price analysis
DOGE/USDT daily chart. Source: TradingView
At press time, DOGE is exchanging hands at $0.17 as it remains near the 20-day EMA ($0.15), indicating a recent equilibrium between buyers and sellers.
A flat 20-day EMA and the RSI near the midpoint might keep the DOGE/USDT pair range-bound between $0.12 and $0.17 for some time. A move up from here that takes it above $0.17 would indicate the correction is over, giving resistance price targets at around $0.21 for a similar wave three structure to this one executed on larger scales – but let’s wait and see until it off waiting modes in either direction with confirmation of an impulse underway or invalidation instead before planning too far ahead (take precaution)!
On the downside, a break below $0.12 might lead to the completion of another bearish head-and-shoulders pattern that targets $0.
CARDANO Price Analysis
ADA/USDT daily chart. Source: TradingView
The bulls are finding it challenging to push Cardano (ADA), now trading at a $0.49 price level above the 50-day SMA ($0.
We expect the bears to sink the price below the 20-day EMA and line up with the support line. The recovery from this level will indicate that the ADA/USDT pair may spend some time inside the triangle.
On pushes higher from here, the bulls will have to retest that resistance line again. A break above $0.62 will launch the pair to an initial objective at $0.67 and then check if $0.705 is intact [the previous support turned into resistance].