Key points:Bitcoin’s rally to $105,980 has traders predicting new all-time highs this week. Traders lift their end-of-year Bitcoin price targets to $2
Key points:
-
Bitcoin’s rally to $105,980 has traders predicting new all-time highs this week.
-
Traders lift their end-of-year Bitcoin price targets to $200,000 based on technical factors and institutional investor adoption.
Bitcoin (BTC) has been stuck in a narrow range for the past few days, but the rally above $105,500 on May 18 increases the possibility of an upside breakout. Popular trader Alan said in a post on X that Bitcoin could soar to $116,000 early next week.
Another bullish voice was that of Bitwise chief investment officer Matt Hougan. While speaking to Cointelegraph, Hougan said that a supply shock due to increased institutional demand could propel Bitcoin to $200,000 by the end of 2025. He expects seller exhaustion to occur at the $100,000 level.
Although Bitcoin remains strong, select analysts are shifting their focus to altcoins as they believe an altcoin season could be around the corner. Crypto analyst Javon Marks said in a post on X that altcoins, excluding Ether (ETH), could “deliver one of their most powerful runs since 2017!”
Could Bitcoin and altcoins continue their move higher? Let’s look at the cryptocurrencies that are showing strength on the charts.
Bitcoin price prediction
Bitcoin remains stuck in a range, but the bulls are trying to overcome the overhead resistance at $105,820.
Both moving averages are sloping up, and the relative strength index (RSI) is in the overbought zone, signaling that the buyers hold the edge. A break and close above $105,820 increases the likelihood of a retest of the $109,588 level. Sellers will try to defend the $109,588 resistance, but if the bulls prevail, the BTC/USDT pair could skyrocket to $130,000.
Alternatively, a sharp drop below $100,000 signals that the bears have seized control. That may tempt several short-term bulls to book profits, pulling the pair toward the 50-day simple moving average ($91,447).
The pair has broken out of the symmetrical triangle pattern on the 4-hour chart, indicating that buyers are in control. There is resistance at $105,820, but it is likely to be crossed. If that happens, the pair could march toward the all-time high of $109,588 and thereafter to the pattern target of $110,922.
Sellers are likely to have other plans. They will try to pull the price back into the triangle. If that happens, the aggressive bulls may get trapped, pulling the pair to $100,000. If this level also cracks, the drop could extend to the target objective of $95,616.
Ether price prediction
Ether dipped back below the breakout level of $2,550, but the bears are struggling to sustain the lower levels.
The upsloping 20-day exponential moving average ($2,275) and the RSI near the overbought zone suggest the path of least resistance is to the upside. If the price closes above $2,550, the bulls will try to strengthen their position by pushing the ETH/USDT pair above $2,739. If they manage to do that, the pair could surge toward $3,000.
The first sign of weakness will be a break below the $2,400 level. That could pull the pair to the 20-day EMA, which is a critical level to watch out for. A break below the 20-day EMA suggests the bulls are losing their grip.
The bulls pushed the price above the moving averages, indicating demand at lower levels. If buyers pierce the downtrend line, the up move could reach $2,739. A break and close above $2,739 could resume the uptrend.
Contrary to this assumption, if the price turns down from the downtrend line and breaks below $2,400, it signals that the bulls are rushing to the exit. That could start a deeper correction to $2,270 and then to $2,111.
Hyperliquid price prediction
Hyperliquid (HYPE) is facing resistance at $28.50, but a positive sign is that the bulls have not ceded much ground to the bears.
The upsloping moving averages and the RSI in the overbought zone indicate that the buyers are in command. A break and close above $28.50 could catapult the HYPE/USDT pair toward $35.73.
If the price turns down sharply from $28.50, it signals that the bears are aggressively defending the level. The pair could then slide to the 20-day EMA ($23.52), which is likely to attract buyers. If the price rebounds off the 20-day EMA, the bulls will strive to clear the overhead resistance.
The pair is finding support at the 50-SMA on the 4-hour chart, indicating buying on dips. The bulls will try to strengthen their position by pushing the price above the $28.50 level. If they do that, the pair could rally to $31.33.
Instead, if the price turns down and breaks below the 50-SMA, it implies that the bulls are booking profits in a hurry. That could sink the…
cointelegraph.com