Key Points:
Bitcoin (BTC) remains pinned below the $109,588 breakout level, indicating that the bears are brutal defenses on the level. Bitfinex analysts said in a market memo that profits generally follow after Bitcoin hit a new all-time high after a sharp rally. The report added that mild retracement or integration is healthy and will enhance the basis of the next leg.
GlassNode had a similar view. In its latest report, the market intelligence company said it suggests that relative strength indicators (RSIs) will weaken and ease the momentum, which could lead to “a potential pause or reversal in recent bullish trends.”
Even if a fix occurs, the DIP may be purchased. With Bitcoin trading over $100,000 and whales accumulating, material indicator co-founder Keith Alan remains bullish. He expects Bitcoin to find support near the $94,000 level.
What are the important levels to keep in mind when it comes to Bitcoin and Altcoin? Analyze and explore the charts of the top 10 cryptocurrencies.
Bitcoin price forecast
The failure of Bitcoin to maintain above $109,588 could have attracted sales by short-term traders.
The Bears are trying to raise the price to a 20-day index moving average ($105,453). This is an important level to be aware of. If the price rebounds the 20-day EMA with strength, the sentiment remains positive, suggesting that the trader is buying at dip. This will improve the prospects for retesting at the $111,980 level. If buyers overcome the $111,980 resistance, the BTC/USDT pair could surge to $130,000.
Conversely, breaks and closures below the 20-day EMA could strengthen the bear. The pair could plummet to $100,000 psychologically important support.
Ether Price Prediction
Buyers were unable to outperform Ether (ETH) on May 27th by $2,738, but they remained under pressure.
The ETH/USDT pair forms a bullish rising triangle pattern, complete with a break, resulting in closures of over $2,738. This will bring the rally pass to $3,000 and then the pattern goal of $3,153.
This optimistic view will be denied in the near future if prices drop and fall below the 20-day EMA ($2,467). A bullish setup failure could lock up an offensive bull, sink the pair to $2,323, and fall to $2,111 below.
XRP Price Forecast
XRP (XRP) is trading between moving averages, indicating a lack of aggressive buying and selling.
The flat-type 20-day EMA ($2.33) and the RSI just below the midpoint do not give the Bulls or Bears any clear advantages. If the price falls below the 50-day SMA ($2.24), the XRP/USDT pair can dive into $2 support. Buyers are expected to defend the $2 level vigorously as the break below could sink the pair to $1.61.
The advantage is that breaks and closures above the 20-day EMA will open gates up to $2.65 at the rally. Buyers will need to drive pairs that exceed $2.65 and cut the price to $3.
BNB Price Prediction
Buyers outperformed BNB (BNB) on May 27th, but were unable to maintain a higher level.
Price action for the past few days forms a bullish rising triangle pattern, complete with a break and ends above $693. In that case, the BNB/USDT pair could gather towards a $752 pattern target.
The 20-day EMA ($658) is an important support to keep an eye on the downsides. Aggressive bulls could cover their position, so closing below the 20-day EMA could accelerate sales. It could pull the pair into a 50-day SMA ($622).
Solana price forecast
Solana (Sol) is integrated for $180 within a narrow range between 20-day EMA ($169) and overhead resistance.
Prices drop and below the 20-day EMA suggest that the Bulls are booking profits. The Sol/USDT pair could fall to $159 and then to a 50-day SMA ($153), which could attract buyers. If the price rebounds from a 50-day SMA, the pair could swing between $153 and $180 for a while.
Break and Close indicates a resumption of UP moves after exceeding $180. The pair could take momentum and ralliate into the $210-$220 resistance zone.
Dogecoin price forecast
Sellers are about to pull Dogecoin (Doge) with immediate support at 20 days of EMA ($0.22).
If they are successful, the Doge/USDT pair could fall to horizontal support for $0.21. Buyers are expected to defend the $0.21 level on all forces, as they could potentially sink the pair into a 50-day SMA ($0.19). Such a move will work the massive $0.14 to $0.26 range.
On the contrary, the $0.21 rebound suggests that the bull is fiercely defending the level. This allows the pair to remain within the $0.21-$0.26 range for another few days.
Cardano price forecast
The buyer was able to maintain the cardano (ADA) above the neckline with the reverse head and shoulder (H&S) pattern, but the bounce lacks strength.
This increases the risk of a break below the 50-day SMA ($0.70). In that case, the ADA/USDT pair could plunge into solid support at $0.60. It suggests that the market has refused to break out from a bullish setup.
Buyers will need to push prices above the $0.86 resistance to indicate a resumption of UP moves. The pair then rallied at $1.01, with the bear potentially making a strong defense.
Related: SUI Price Chart Tips at Double Rally in NASDAQ ETF Filing
SUI price forecast
SUI (SUI) was turned down from the 20-day EMA ($3.66) on May 28th, and the sentiment remains negative, indicating that traders are selling at the rally.
The Bears try to sink the SUI/USDT pair into a 50-day SMA ($3.24). This is an important level to note. If the price recovers 50-day SMA, the Bulls will try to clear the 20-day EMA hurdle. If they can pull it apart, the pair may ralise in an overhead zone of between $3.90 and $4.25.
Meanwhile, rest and closure below the 50-day SMA suggests that bears are in control. The pair could then plunge into $2.86 support.
High lipid price forecast
High fat (hype) fell from $40 on May 26th, falling below the $35.73 breakout level on May 28th.
There is support for $32, but if the level breaks, the hype/USDT pair can extend the slide to a 20-day EMA ($30). Buyers will try to start bounces from a 20-day EMA, but at $35.73 could face rigid resistance.
The first signs of strength are breaks and closings above $35.73. It suggests strong demand at a lower level. The Bulls make another attempt to drive the pair into a $42.25 overhead resistance.
Chain Link Price Prediction
ChainLink (Link) continues to find support in the H&S patterned neckline, but the Bulls have failed to start a strong rebound.
The 20-day EMA ($15.66) is flattened, with the RSI close to the midpoint, indicating the balance between supply and demand. Buyers will need to push prices above $18 to gain an advantage. Doing that could lead to a Link/USDT pair ralliking at $19.80.
Instead, if prices fall and fall below the 50-day SMA ($14.68), it suggests that the market has refused to break out above the resistance line. The pair could drop to $13.20.
This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
