Bitcoin’s strength continues as Altcoins remain under clear pressure

Key Points:-

Bitcoin needs to hold above $78,000 to avoid a trend reversal and return to $80,000 as resistance. Altcoin buyers have exited the position in line with Bitcoin's minor correction.

Bitcoin (BTC) bounced back to $79,000 on Friday, but buying at lower levels pushed the price to $80,000. The next big question on traders' minds is whether BTC will continue to move higher or whether the higher level will again attract bearish selling.

CryptoQuant Analyst IT Tech said in a Thursday QuickTack note. BTC should collect and hold above $88,880. To confirm below. Until then, the $85,000 to $88,000 range could see it sold by buyers looking to “get out flat.”

However, John Bollinger, creator of Bollinger Bands, has a different view. Bollinger said in an X post on Thursday. Their trend model was positive for BTC A day earlier and accordingly they took a stand.

Daily View of Crypto Market Data. Source: Trading view

Among all the positives, a bit of a negative for the bulls is the BTC exchange rate The cost of 277.5 million dollars was recorded on Thursday. This was the first net outflow in May, according to Soso Value data. This indicates that select investors have turned cautious and are booking profits above the resistance level.

Will BTC and the major altcoins break support levels? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC bounced back from $82,850 on Wednesday, with the bears firmly defending the $84,000 overhead barrier.

BTC/USDT Daily Chart. Source: Cointelegraph/Trading view

The 20-day exponential moving average ($77,929) is a crucial support to watch out for on the downside. If the price of BTC bounces back strongly from the 20-day EMA, it shows that the bulls are buying on each minor pot. That would improve the break above the $84,000 level. If that happens, the BTC/USDT pair could rise to $92,000, then $97,924.

Sellers may have other plans. They will try to defend the $84,000 level and push the price below $74,937. If they manage to do that, the pair could fall towards the 50-day simple moving average ($73,448) and then towards the support line.

Ether price prediction

ether (ETH) closed below the 20-day EMA ($2,304) on Wednesday, indicating that the bulls are taking profits.

ETH/USDT Daily Chart. Source: Cointelegraph/TradingView

The next stop is the 50-day SMA ($2,225), then the support line. A strong recovery from the support line suggests that the ETH/USDT pair may stay in the channel for a few days.

The first signal of strength is a break and close above $2,465. Then the pair can go out to the defensive line, the bears are expected to go inside. However, if the bulls lose, the price of ETH may rise to $3,050.

BNB price prediction

BNBBNB) is back to moving averages, bears are selling in small rallies.

BNB/USDT Daily Chart. Source: Cointelegraph/TradingView

If the price of BNB breaks out strongly from the moving averages, it will raise the possibility of a rally to $687. Sellers will try to keep the price in the range of $570 to $687, defending against the resistance above.

On the other hand, a break and close above $687 indicates that the bulls are back in the driver's seat. The BNB/USDT pair may rise to $730 and then to $790. Sellers are expected to make a strong challenge at the $790 level.

XRP price prediction

XRP (XRP) continues to trade near its moving averages, indicating a balance between buyers and sellers.

XRP/USDT Daily Chart. Source: Cointelegraph/TradingView

Flat moving averages and an RSI below the midpoint are either bullish or not giving a clear advantage. If the price declines and breaks below $1.27, the XRP/USDT pair may stay in a descending channel pattern for a few days.

On the upside, the bulls expect strong resistance at the lower line and then at the $1.61 level. Buyers need to break the $1.61 barrier to signal a trend reversal. XRP price may increase to $2.

Solana price forecast

Solana (SOL) is facing selling pressure at $90.73, but the positive for the bulls is that they haven't given up much ground to the bears.

SOL/USDT Daily Chart. Source: Cointelegraph/TradingView

The bulls will try again to push the SOL price above $90.73. If they succeed, the SOL/USDT pair could rise to $98. Sellers are expected to strongly defend the $98 level.

Contrary to this assumption, if the price declines and breaks below the moving average, it suggests that the pair may remain in the narrow range for some time. A break below $82.65 would open the doors to a decline to $76.

Dogecoin price prediction

Dogecoin (Doug) was significantly lower than the $0.12 resistance level on Wednesday, indicating profit taking by short-term traders.

DOGE/USDT Daily Chart. Source: Cointelegraph/TradingView

The 20-day EMA ($0.10) is an important support level to watch in the near term. If the price of DOGE changes significantly from the 20-day EMA, the bulls will try to pierce the $0.12 resistance again. If they manage to do that, the DOGE/USDT pair could consolidate to $0.14, then $0.16.

Conversely, a break and close below the 20-day EMA suggests that the pair may stay in the $0.09 to $0.12 range for a few more days.

High Liquidity Price Prediction

high fluid (Hype) remained in the $43.76 to $45.77 zone on Wednesday, indicating bearish selling.

HYPE/USDT Daily Chart. Source: Cointelegraph/TradingView

HYPE price has returned to the 20-day EMA ($41.69), an important level to watch. If the price deviates significantly from the 20-day EMA, the bulls will again try to clear the barrier above. If they can do that, the HYPE/USDT pair could rise to $50.

This bearish view is invalid in the near term if the price continues to hold low and breaks below the 50-day SMA ($40.29). The pair could drop to $34.45.

Related: Four Signs That Ethereum's Rally Has Ended at $2.4K

Cardano price prediction

Cardano (ADA) continues to fluctuate within a wide range of $0.22 to $0.31, indicating a balance between supply and demand.

ADA/USDT Daily Chart. Source: Cointelegraph/TradingView

The 20-day EMA ($0.25) has begun to rise slowly, and the RSI is in positive territory, indicating a slight edge for the bulls. If the price is above the moving averages, the bulls will try to drive the ADA/USDT pair to $0.30 and, later, to the strong upside resistance at $0.31.

Conversely, a break below the moving averages suggests that the bulls are losing their grip. The bears will try to pull the ADA price towards the $0.22 support.

Zcash price prediction

Zcash (ZEC) broke above $560 resistance on Wednesday, but bears stopped the rally at $607.

ZEC/USDT Daily Chart. Source: Cointelegraph/TradingView

A shallow reversal is a positive sign as it indicates that the bulls are in no rush to close their positions. This improves the prospect of a continuation of the rise. If the ZEC/USDT pair breaks above $607, the next target could be $750.

On the downside, support is at the 38.2% Fibonacci retracement level at $496, followed by the 50% retracement level at $462. Below the 61.8% retracement level of $428, sellers will be back in the driver's seat.

Bitcoin Cash price prediction

Bitcoin Cash (B.C.H) declined sharply from $486 on Wednesday, which suggests that the bears are maintaining the level strongly.

BCH/USDT Daily Chart. Source: Cointelegraph/TradingView

The flat 20-day EMA ($450) and the RSI near the midpoint suggest that the BCH/USDT pair may remain in the $419 to $486 range for some time.

The next trending move is expected to start above $486 or below $419. If buyers confirm a close above $486, the price of BCH could rise to $520. Alternatively, a close below the $419 support would signal a resumption of the next downside trip to $375.