Key points:
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Bitcoin’s bullish momentum has weakened, raising the chance of a correction to $100,000.
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Altcoins are likely to follow Bitcoin price and consolidate near their most immediate support levels.
Bitcoin’s (BTC) failure to rise above $109,588 may have tempted short-term buyers to book profits. That has pulled the price under $104,000 on May 30. US spot Bitcoin exchange-traded funds recorded a net outflow of $347 million on May 29, its first outflow since May 13, according to CoinGlass.
Derive founder Nick Forster told Cointelegraph that Bitcoin is likely to enter a consolidation phase, which will be “a healthy pause” before another “significant upward movement.”
Analyst Willy Woo had a similar opinion. In a post on X, Woo said that the current week was critical as a lack of follow-through could result in another consolidation.
The near-term pullback has not altered the long-term view. Trading account Stockmoney Lizards said in a post on X that Bitcoin could rally up to $200,000 in 2025 and possibly extend the up move to $250,000 next year.
What critical support levels could arrest the decline in Bitcoin and altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
Bitcoin has pulled back to the 20-day exponential moving average ($105,485), which is likely to witness a tough battle between the bulls and the bears.
If the price closes below the 20-day EMA, the BTC/USDT pair could sell off toward the $100,000 level. Buyers are expected to fiercely defend the zone between $100,000 and the 50-day simple moving average ($97,775). If the price rebounds off the support zone, the bulls will try to push the pair to $109,588.
Alternatively, if the price turns up from the 20-day EMA, it signals a positive sentiment. That increases the likelihood of a break above the $111,980 resistance. The pair could then surge toward $130,000.
Ether price prediction
Buyers pushed Ether (ETH) above the $2,738 resistance on May 29 but could not sustain the higher levels. Profit booking pulled the price to the uptrend line on May 30.
The upsloping 20-day EMA ($2,497) and the RSI in the positive territory indicate an advantage to buyers. If the price rebounds off the uptrend line with force, the bulls will again try to clear the obstacle at $2,738. If they can pull it off, the pair will complete an ascending triangle pattern. The ETH/USDT pair may then rally to $3,000 and eventually to the pattern target of $3,153.
Conversely, a break and close below the 20-day EMA invalidates the bullish setup. That could sink the pair to $2,323 and then to the 50-day SMA ($2,098).
XRP price prediction
XRP (XRP) slipped below the 50-day SMA ($2.25) on May 30, indicating that the bears have overpowered the bulls.
The XRP/USDT pair could drop to the solid support at $2. Buyers are expected to defend the $2 level with all their might because a break below it increases the risk of a downtrend. The pair could first retest the $1.61 support and later plunge to $1.27.
Instead, if the price rebounds off $2, it suggests that the bulls are trying to keep the pair inside the range for a few more days. The bulls will have to shove the price above $2.65 to seize control.
BNB price prediction
Buyers failed to kick BNB (BNB) above the $693 resistance on May 29, resulting in a pullback to the uptrend line.
A bounce off the uptrend line indicates a positive sentiment. Buyers will have to achieve a close above $693 to complete the bullish ascending triangle pattern. If they do that, the BNB/USDT pair could rally to $732 and later to the pattern target of $752.
Contrarily, a break below the 20-day EMA ($661) invalidates the bullish setup. That could trap the aggressive bulls, pulling the pair down to the $644 support and later to the 50-day SMA ($626).
Solana price prediction
Solana (SOL) broke below the 20-day EMA ($168) on May 29, signaling profit-booking by short-term traders.
The SOL/USDT pair could drop to the $153 support, which is likely to attract buyers. If the price rebounds off the $153 level and breaks above the 20-day EMA, it suggests a range formation in the near term.
The next trending move is expected to begin on a break above $180 or below $153. If the bulls propel the price above $180, the pair could rally to the $210 to $220 resistance zone. On the other hand, a break below $153 could sink the pair to $141 and subsequently to $133.
Dogecoin price prediction
Dogecoin (DOGE) plunged below the $0.21 support on May 30, bringing the large $0.26 to $0.14 range into play.
There is support at the 50-day SMA ($0.19), but if the level cracks, the…
cointelegraph.com