The Bitcoin market inability to surpass the 20-day EMA raises concerns about a potential downward trend for BTC and various alternative cryptocurrencies. Bitcoin’s trajectory remains uncertain as bullish and bearish forces vie for dominance. Jan Happel and Yana Allemann, co-founders of Glassnode, anticipate a bullish resolution, expressing their belief in a forthcoming significant surge in Bitcoin’s value. Large investors continue to make significant purchases despite the ambiguity surrounding the market’s direction. According to a recent report from market intelligence firm Santiment, whale wallets containing between 1,000 and 10,000 Bitcoin acquired approximately 1 million worth within 24 hours. Crypto market data daily view. Source: Coin360 Bitcoin’s long-term investors are not worried about the range-bound price action in the near term. In a recent interview with journalist Mike Solana, Twitter co-founder Jack Dorsey was told that Bitcoin could skyrocket to at least million by 2030 and even surpass the level from that point onward. Could buyers continue to defend the support levels in Bitcoin and altcoins, or will the bears prevail? Let’s analyze the charts of the top 10 cryptocurrencies to find out. Bitcoin (BTC) Market Analysis Bitcoin bulls are trying to keep the price above the psychological support at ,000 but are facing selling at the 20-day exponential moving average (,959). BTC/USDT daily chart. Source: TradingView The downsloping moving averages and the relative strength index (RSI) in the negative territory suggest that the bears have the upper hand. If the ,650 support cracks, the BTC/USDT pair may plummet to the 61.8% Fibonacci retracement level of ,298. This negative view will be invalidated soon if the price turns up and breaks above the 50-day simple moving average (,620). The pair could then accelerate toward the critical overhead resistance of ,777. Ether (ETH) Market Analysis Ether has been trading between the 20-day EMA (,087) and the horizontal support at ,850 for several days. ETH/USDT daily chart. Source: TradingView The downsloping moving averages and the RSI in the negative territory indicate an advantage to sellers. A break and close below ,850 will signal the resumption of the downtrend. The ETH/USDT pair may collapse to the channel’s support line. The zone between the 20-day EMA and the resistance line will likely act as a critical resistance. Buyers must shove the price above this zone to suggest a potential trend change. The pair may climb to ,350. BNB Market Analysis The BNB Market rebounded off the moving averages on May 8, but the move lacked momentum, indicating hesitation to continue buying at higher levels. BNB/USDT daily chart. Source: TradingView If buyers propel the price above the downtrend line, it will increase the likelihood of a rally to the overhead resistance of 5. This is a significant level to watch out for because a break above it could open the doors for a rally to 2. Meanwhile, the bears are likely to have other plans. They will try to tug the price below the moving averages. If they do that, the BNB/USDT pair may slump to 6 and then to the solid support at 5. Solana (SOL) Price Analysis Solana fell below the 20-day EMA (6) on May 8, but the bears could not sustain the lower levels. SOL/USDT daily chart. Source: TradingView Solid buying by the bulls pushed the price back above the 20-day EMA on May 9, but the SOL/USDT pair could not reach the 2 resistance. The flattish 20-day EMA and the RSI near the midpoint do not clearly advantage either the bulls or the bears. If the price turns up from the current level and breaks above 2, it will suggest that the bulls are back in the game. The pair may rise to 5 and later to 5. The critical support zone to watch on the downside is between 6 and 6. XRP Price Analysis XRP has been trading between {内容}.46 and {内容}.57 for the past few days, indicating a balance between supply and demand. XRP/USDT daily chart. Source: TradingView The price slipped below the 20-day EMA ({内容}.52) on May 7, indicating that the bears are trying to take charge. Sellers will try to pull the price to the crucial support at {内容}.46, where buyers are expected to step in and defend the level with all their might. A strong bounce off {内容}.46 could extend the stay inside the range for longer. The bulls will have to push and maintain the price above {内容}.57 to suggest that the correction could be coming to an end. Toncoin (TON) Price Analysis Toncoin rebounded off the moving averages on May 8 and cleared the hurdle at the 61.8% Fibonacci retracement level of .49 on May 10, signalling that the correction may be over. TON/USDT daily chart. Source: TradingView The 20-day EMA (.81) has started to turn up gradually, and the RSI has risen into positive territory, indicating that bulls have the upper hand. The TON/USDT pair will attempt a rally to .67. Conversely, if the price turns down sharply from the current level or the overhead resistance at .67, it will suggest that bears remain active at higher levels. That could result in a range between .72 and .67. Dogecoin (DOGE) Price Analysis The bulls are trying to prevent Dogecoin from retesting the neckline of the large head-and-shoulders pattern. DOGE/USDT daily chart. Source: TradingView Buyers will have to push the price above the 20-day EMA ({内容}.15) to clear the path for a rally to the 50-day SMA ({内容}.17). The bears must defend this level because a break above it could start a rally to {内容}.21. Instead, if the price turns down from the current level or the 50-day SMA, it will suggest that the DOGE/USDT pair may spend some more time inside the range. If the price skids below {内容}.12, the trend is likely to turn bearish. Cardano (ADA) Price Analysis Cardano remains stuck between the 20-day EMA ({内容}.47) and the support line, indicating uncertainty among the bulls and the bears about the next directional move. ADA/USDT daily chart. Source: TradingView The downsloping 20-day EMA and the RSI in the negative territory indicate an advantage for bears. The ADA/USDT pair could move downward toward {内容}.35 if the price breaks below the support line. On the contrary, if the price turns up and breaks above the 20-day EMA, it will signal that the bulls are on a comeback. The pair could rise to the 50-day SMA ({内容}.53) and later to the overhead resistance of {内容}.57. This zone is likely to witness strong selling by the bears. Avalanche (AVAX) Price Analysis Avalanche has been trading between and for several days, indicating a balance between supply and demand. AVAX/USDT daily chart. Source: TradingView In a range, traders usually buy the dips to the support and sell near the resistance. The price action in between could be random and volatile. If the price breaks above the 20-day EMA (), the AVAX/USDT pair could reach . On the contrary, if the price turns down from the 20-day EMA, it will suggest that higher levels continue to attract sellers. The pair may slump to the solid support at . The next trending move will likely begin above or below . Shiba Inu (SHIB) Price Analysis Shiba Inu continues to trade between the 20-day EMA ({内容}.000024) and the support line of the symmetrical triangle pattern. SHIB/USDT daily chart. Source: TradingView It is difficult to predict the direction of breakout from a triangle with certainty. Hence, waiting for the price to escape the triangle is better before taking a directional view. If the price plunges below the triangle, it will signal that the bears have overpowered the bulls. The SHIB/USDT pair may descend to the 78.6% Fibonacci retracement level of {内容}.000017. On the contrary, if the price rises and breaks above the 20-day EMA, it suggests buying at lower levels. The pair may rally to the triangle’s resistance line. Source – Rakesh Upadhyay Source: fintechs.fi 共有Facebook推特Pinterest LinkedIn汤博乐电子邮件 上一篇文章Worldcoin战胜亿万富翁Mike Novogratz，让他变得恃强凌弱：报道下一篇文章SmartyTrade福利和赠品 相关帖子哥伦比亚最大的银行新的加密货币交易所和Stablecoin 2024年5月7日-4265次浏览最新市场概述5月6日：SPX，DXY，BTC，ETH，BNB，SOL，XRP，TON，DOGE，ADA 2024年7月-3964次浏览新的比特币里程碑：10亿笔交易实现了2024年6月-2584次浏览CZ令人惊讶的四个月监禁震撼了加密货币世界2024年2月-8796次浏览最新市场概述5月1日：BTC，ETH，BNB视图香港比特币交易所现已正式开始交易2024年4月30日-1045视图 加密货币新闻索拉纳完全烘焙的新Meme Coin Slothana（美元SLOTH）在24小时内飙升107%达到新的ATH后燃烧机制公告加密货币新闻2024年5月10日-5800视图加密货币交易所币安和KuCoin在印度金融情报机构加密货币新闻5月10号-8582视图随着新挑战者的出现，Pepe（Pepe）价格预测加密货币新闻2020年5月5日-660视图XRP价格预测：这个AI Telegram交易机器人能跑赢它吗？加密货币新闻2024年5月10日-5648次浏览量牛市分歧：加密货币市场未来可能逆转
