BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA, AVAX, SHIB

Bitcoin (BTC) continues to find direction as bears and bulls struggle for dominance. Glassnode founders Jan Happel and Yana Allemann believe that the price will settle upwards. According to XPost, they expect Bitcoin to “blow higher”.

Uncertainty about the next directional move hasn't stopped whales buying. According to market data firm Santiment on XPost, wallets holding between 1,000 and 10,000 bitcoins received about $941 million worth of bitcoins in a 24-hour period.

Bitcoin's long-term investors don't seem to be worried about range-specific price action in the near term. In a recent interview with journalist Mike Solana, Twitter co-founder Jack Dorsey said that Bitcoin could reach at least one million dollars by 2030 and could surpass that level from then.

Can buyers continue to defend support levels in Bitcoin and altcoins, or will the bears prevail? Let's examine the charts of the top 10 cryptocurrencies to find out.

Bitcoin price analysis

Bitcoin bulls are trying to keep the price above psychological support at $60,000, but they are selling at the 20-day exponential moving average ($62,959).

The downward moving averages in the negative territory and the Relative Strength Index (RSI) suggest bears are dominant. If the $59,650 support is breached, the BTC/USDT pair may drop to the 61.8% Fibonacci retracement level to $54,298.

If the price reverses and breaks above the 50-day simple moving average ($65,620), this negative view is worthless in the near term. The pair can accelerate to a critical profit margin of $73,777.

Ether price analysis

Ether (ETH) has been trading at the 20-day EMA ($3,087) and horizontal support at $2,850 for several days.

Lower moving averages and RSI in negative territory indicate favor for sellers. A break and close below $2,850 would indicate a resumption of the downtrend. The ETH/USDT pair may fall to the support line of the channel.

The zone between the 20-day EMA and the resistance line can be used as critical resistance. Buyers should exit the price above this zone to signal a trend reversal. The pair could go as high as $3,350.

BNB price analysis

BNB (BNB) bounced back from its moving averages on May 8, but the move lacked momentum, indicating reluctance to continue buying higher.

If buyers push the price above the lower line, resistance above $635 will increase. This is an important level to pay attention to because a break above it could open the door to a rally to $692.

Meanwhile, the bears may have other plans. They try to drag the price below the moving averages. If they do that, the BNB/USDT pair could drop to $536 and then to strong support at $495.

Solana price analysis

Solana (SOL) fell below the 20-day EMA ($146) on May 8, but the bears could not sustain the lower levels.

Strong buying by bulls led the price to bounce back above the 20-day EMA on May 9, but the SOL/USDT pair failed to reach the $162 resistance. The flat 20-day EMA and RSI near the midpoint do not give a clear advantage to either the bulls or the bears.

If the price changes from the current level and breaks above $162, it indicates that the bulls are back in the game. The pair may rise to $185 and later to $205. A critical support zone to watch on the downside is between $126 and $116.

XRP price analysis

XRP (XRP) has been trading between $0.46 and $0.57 for the past few days, indicating a balance between supply and demand.

On May 7, the price fell below the 20-day EMA ($0.52), indicating that the bears are trying to take charge. Sellers will try to pull the price to the critical support at $0.46, buyers are expected to come in and defend the level with all their might. A break above $0.46 could extend the stay in the range longer.

The bulls need to push and hold above $0.57 to signal that the correction may be over.

Token price analysis

Toncoin (TON) rebounded from the moving averages on May 8 and cleared the barrier at the 61.8% Fibonacci retracement level of $6.49 on May 10, indicating that the correction may be over.

The 20-day EMA ($5.81) has begun to rise slowly, and the RSI has risen to positive territory, indicating that the bulls are dominant. The TON/USDT pair will test the $7.67 rally.

On the contrary, if the price drops significantly from the current level or above the resistance of $7.67, it suggests that the bears will remain highly active. That could result in a range between $4.72 and $7.67.

Dogecoin price analysis

The bulls are trying to prevent Dogecoin (DOGE) from retesting the large head and shoulders pattern neckline.

Buyers should press the price above the 20-day EMA ($0.15) to clear the rally to the 50-day SMA ($0.17). This is an important level for the bears to defend against because a break above it could start a rally to $0.21.

Instead, if the price deviates from the current level or the 50-day SMA, it suggests that the DOGE/USDT pair will spend some more time in the range. If the price slips below $0.12, the trend is likely to turn bearish.

RELATED: Telegram-Linked Toncoin Rises 50% in May Due to These 3 Reasons

Cardano price analysis

Cardano (ADA) remains stuck between the 20-day EMA ($0.47) and the support line, indicating uncertainty about the next directional movement between bulls and bears.

The 20-day EMA and RSI in the negative territory indicate the advantage of the bears. If the price breaks below the support line, the ADA/USDT pair may go down to $0.35.

Conversely, if the price rises and breaks above the 20-day EMA, it indicates that the bulls are back. The pair can bear resistance towards the 50-day SMA ($0.53) and later towards $0.57. This zone may witness strong bear selling.

Price analysis

Avalanche (AVAX) has been trading between $29 and $40 for several days, reflecting the balance between supply and demand.

In the range, traders usually buy the support to the support and sell near the resistance. Price action between them can be arbitrary and volatile. If the price breaks above the 20-day EMA ($36), the AVAX/USDT pair could reach $40.

On the contrary, if the price drops below the 20-day EMA, it suggests that higher levels will continue to attract sellers. The pair may fall to strong support at $29. The next trending move could start above $40 or below $29.

Shiba Inu price analysis

Shiba Inu (SHIB) continues to trade between the 20-day EMA ($0.000024) and the support line of a congruent triangle pattern.

The direction of exit from the triangle is difficult to predict with certainty. Therefore, it is better to wait for the price to escape the triangle before looking at the direction. If the price falls below the triangle, it shows that the bears have defeated the bulls. The SHIB/USDT pair may drop to the 78.6% Fibonacci retracement level to $0.000017.

Conversely, if the price breaks above the 20-day EMA, it suggests buying at lower levels. The pair may converge into a triangle defensive line.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.