Key points:Bitcoin remains above $100,000, but buyers are struggling to sustain prices above $105,000.Strong altcoin performances suggest an altseason
Key points:
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Bitcoin remains above $100,000, but buyers are struggling to sustain prices above $105,000.
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Strong altcoin performances suggest an altseason has started.
Bitcoin (BTC) is trading above $103,000, with buyers attempting to drive the price to the all-time high of $109,588. Research firm Santiment said in a post on X that Bitcoin whales and sharks, holding 10 to 10,000 Bitcoin, accumulated 83,105 Bitcoin in the past 30 days, suggesting that “it may be a matter of time” before Bitcoin’s all-time high is taken out.
Along with Bitcoin, analysts are also gradually turning positive on altcoins. A host of factors, such as falling Bitcoin and USDT dominance and a rally in select altcoins, suggest that an altcoin season may be around the corner.
However, not everyone is bullish in the short term. Alphractal CEO Joao Wedson said in a post on X that Bitcoin is at the “Alpha Price” zone, which could attract profit booking by long-term holders or whales.
Could Bitcoin challenge the all-time high? Will altcoins continue their rally even if Bitcoin consolidates? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price prediction
Bitcoin rebounded off $100,718 on May 12, indicating that the bulls are trying to flip the psychologically important $100,000 level into support.
If the price maintains above $100,000, the possibility of a retest of the all-time high increases. There is stiff resistance in the $107,000 to $109,588 zone, but if it is crossed, the BTC/USDT pair could skyrocket to $130,000.
The risk to the upside is a sharp pullback below the 20-day exponential moving average ($98,407), which could tempt several short-term buyers to book profits. That could sink the pair to the 50-day simple moving average ($89,952).
Ether price prediction
Ether (ETH) skyrocketed above the $2,550 resistance on May 13, but the higher levels are attracting sellers.
The overbought level on the RSI signals a possible correction or consolidation in the near term. If the price slips below $2,550, the bears will try to strengthen their position by pulling the ETH/USDT pair below $2,400. If they can pull it off, the pair could extend the pullback to the 20-day EMA ($2,147).
Contrarily, a bounce off $2,550 indicates that the bulls are buying on every minor dip. That enhances the likelihood of a rally to $3,000.
XRP price prediction
XRP’s (XRP) rally is facing resistance at $2.65, but a positive sign is that the bulls have not ceded ground to the bears.
That improves the prospects of a rally above $2.65. Once the resistance is scaled, the XRP/USDT pair could ascend to $3. Buyers are expected to face significant resistance from the bears in the $3 to $3.40 zone.
The 20-day EMA ($2.32) is the vital support to watch out for on the downside. If the price turns down sharply from $2.65 and breaks below the 20-day EMA, it suggests that bears remain sellers on rallies. That could result in a range formation between $2.65 and $2.
BNB price prediction
Buyers have kept BNB (BNB) above the breakout level of $644 but are struggling to push the price above the $675 level.
The rising 20-day EMA ($627) and the RSI in the positive territory indicate that buyers have an edge. A break and close above $675 opens the doors for a possible rally to the overhead resistance of $745.
This positive view will be invalidated in the near term if the price turns down and breaks below the 20-day EMA. If that happens, the BNB/USDT pair could descend to the 50-day SMA ($603).
Solana price prediction
Solana (SOL) resumed its up move after breaking above the $180 resistance on May 13, but the bulls are struggling to hold on to the higher levels.
The bears have pulled the price back below $180 on May 14. If they sustain the lower levels, the SOL/USDT pair could skid to the 20-day EMA ($159). A solid bounce off the 20-day EMA suggests the bullish momentum remains intact. The bulls will then try to catapult the pair to $210.
Contrarily, a break and close below the 20-day EMA signals that the breakout above $180 may have been a bull trap. The pair may then tumble to $153.
Dogecoin price prediction
Dogecoin (DOGE) bounced off the breakout level of $0.21 on May 13, signaling that the bulls are trying to flip the level into support.
The 20-day EMA ($0.20) has started to turn up, and the RSI is near the overbought territory, indicating advantage to buyers. A break and close above $0.26 signals the resumption of the rally. That opens the doors for a rally to $0.28 and thereafter to $0.31.
Instead, if the price turns down and breaks below $0.21, it suggests a lack of demand at higher levels….
cointelegraph.com