Key points:
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Bitcoin price is stuck below $109,588, but the pullback has not altered its bullish chart structure.
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A bullish weekly open from Bitcoin could extend gains in HYPE, XMR, AAVE, and WLD.
Bitcoin (BTC) remains stuck below the $109,588 level during a quiet weekend, but analysts remain bullish. Material Indicators co-founder Keith Alan said in a post on X that Bitcoin remains positive as long as it trades above the yearly open level of about $93,500.
Bitcoin’s demand is likely to remain strong with investments from sovereign wealth funds, exchange-traded funds, publicly listed companies and select nations. Crypto index fund management firm Bitwise said in a recent report that institutional funds could pump roughly $120 billion into Bitcoin in 2025 and about $300 billion in 2026.
While the long-term picture looks promising, traders need to be careful in the near term. The failure to swiftly push the price back above $109,588 could attract profit-booking by short-term traders. If Bitcoin pulls back, several altcoins could also give up some of their recent gains.
Could Bitcoin rise back above $109,588, pulling altcoins higher? If it does, let’s look at the cryptocurrencies that look strong on the charts.
Bitcoin price prediction
Bitcoin dropped back below the breakout level of $109,588 on May 23, and the bears thwarted attempts by the bulls to push the price back above the overhead resistance on May 24.
The bulls will again attempt to drive the price above the $109,588 to $111,980 overhead resistance zone. If they manage to do that, the BTC/USDT pair could rally to the target objective of $130,000.
The 20-day exponential moving average ($104,199) is the critical level to watch out for in the near term. If the support cracks, the pair could plummet to $100,000 and later to the 50-day simple moving average ($94,916).
The bears have pulled the price below the 50-SMA. The 20-EMA has started to turn down, and the relative strength index has dipped into negative territory, signaling that the bears have the upper hand. If the price sustains below the 50-SMA, the pair could descend to $102,500 and later to $100,000.
Buyers will regain control if they push and maintain the price above the $109,588 resistance. The pair could then challenge the $111,980 level. A break above $111,980 could open the doors for a rally to $116,654.
Hyperliquid price prediction
Hyperliquid (HYPE) has broken above the $35.73 resistance, indicating that the bulls have kept up the pressure.
If the price sustains above $35.73, the HYPE/USDT pair could pick up momentum and surge to $42.25. Sellers will try to halt the up move at $42.25, but if the bulls prevail, the pair could skyrocket to $50.
Sellers are likely to have other plans. They will try to pull the price back below the breakout level of $35.73. If they do that, the pair could drop to the $32.15 support, where buyers are expected to step in.
The pair bounced off the 20-EMA and cleared the overhead barrier at $35.73. If the price remains above $35.73, it suggests that the bulls are trying to flip the level into support. The pair could then attempt a rally to $42.25.
This optimistic view will be negated in the near term if the price turns down sharply and breaks below the 20-EMA. That could trap several aggressive bulls, pulling the pair to $32 and subsequently to $28.50.
Monero price prediction
Monero (XMR) soared above the $391 resistance on May 21, indicating that the bulls remain in control.
The sharp rally of the past few days has kept the RSI in the overbought zone, suggesting that the bulls remain in command. If buyers maintain the price above $412, the XMR/USDT pair could resume its uptrend toward $456.
Sellers will have to yank the price below the $375 level to weaken the bullish momentum. That could attract selling by short-term buyers, pulling the pair to the 20-day EMA ($347). A break and close below the 20-day EMA suggests a short-term trend change.
The pair is finding support at the 20-EMA, indicating that the bulls remain in control. If the price rises above $412, the uptrend could start the next leg of the uptrend to $456.
Alternatively, a break and close below the 20-EMA suggests that the bulls are rushing to the exit. That could tug the price to the 50-SMA, which is likely to witness buying by the bulls. A bounce off the 50-SMA could face selling at the 20-EMA. If the price turns down from the 20-day EMA, the likelihood of a break below the 50-SMA increases. The pair could then tumble to $332.
Related: What’s the HYPE about? Hyperliquid’s ‘Solana’ moment eyes 240% gains
Aave price prediction
Aave (AAVE)…
cointelegraph.com