Key points:
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Bitcoin slipped under 109,588 US dollars, but technical diagrams indicate that retailers buy every DIP.
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Excessive lever in Bitcoin futures increases the chance of quick correction.
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Selected old coins have turned away from their respective overhead resistance levels and signal that the bears remain sellers in rallies.
The sellers have pulled Bitcoin (BTC) back under the outbreak level of 109,588 US dollars, but lower values ​​will probably attract buyers. Investors are still strong, because the US Spot Bitcoin Exchange Fund recorded $ 934 million on May twenty second and $ 608 million on May 21.
Glassnode stated that the all-time high over $ 109,588 led to a complete volume of around $ 1 billion, much more subdued than $ 2 billion than the worth in December increased over $ $ 100,000. This shows that investors expect the rise in increasing.
The experienced dealer Peter Brandt said in a contribution to X that Bitcoin was reached between 125,000 and 150,000 US dollars by the top of August.
Krypto market data Daily View. Source: Coin360
A powerful rally attracts speculators who load the leverage effect. Coinglass data show that Bitcoin Futures's open interest rose to only over 80 billion US dollars on May 23. Excessive lever increases the chance of forced liquidation when prices experience a powerful retreat. Therefore, dealers should exercise caution.
What are the critical support levels for Bitcoin and old coins? Let us analyze the diagrams of the highest 10 cryptocurrencies to search out out.
Bitcoin price forecast
Seller try to take care of the worth under the Breakout level of 109,588 US dollars, which the aggressive bulls can catch. This could bring the worth to the 20-day exponential moving average (USD $ 103,652).
A solid jump from the 20-day EMA suggests that the sensation stays positive and buy traders on dips. The bulls will then try again to resume the upward trend by pressing the worth over 111,980 US dollars. If you possibly can pull it off, the BTC/USDT pair could run the goal goal of $ 130,000.
The first sign of weakness might be a break under the 20-day EMA. This deletes the way in which for a decline within the psychologically decisive level of $ 100,000. The buyers are expected to defend the extent of $ 100,000 violently, as a break could sink the couple to the 50-day easy moving average ($ 94,001).
Ether price forecast
Ether (Eth) refused from the resistance of $ 2,738, which indicates that the bears vigorously defend the extent.
The ETH/USDT pair could fall on the 20-day EMA ($ 2,388), which is essential support to maintain an eye fixed. If the worth of the 20-day EMA bounces down with strength, the bulls will try again to delete the $ 2,738 hurdle. If you try this, the couple could increase to $ 3,000. There is resistance at 2,850 US dollars, but it surely might be crossed.
This positive view becomes invalid at short notice if the worth continues to drop and breaks under the 20-dayemaema. The couple could plunge to 2,323 US dollars after which to 2,111 US dollars.
XRP price forecast
XRP (XRP) stays within the range of two.65 to 2 US dollars, which indicates a remaining amount between supply and demand.
The 20-day EMA ($ 2.35) is flat, and the RSI is near the middle, which indicates that the XRP/USDT pair can extend their stay in the realm for just a few more days.
A break and shutting over $ 2.65 complete a bullish inverse head and debt pattern that has a goal goal of $ 3.70. Alternatively, a break below the extent of two US dollars indicates that the bears have overwhelmed the bulls. This increases the likelihood of a decline to USD 1.60 after which to $ 1.27.
BNB price forecast
On May 23, BNB (BNB) strongly refused to withstand 693 US dollars and signaled aggressive sale by the bears.
The BNB/USDT pair bounced off the 20-day EMA ($ 647), as may be seen from the long cock on the candlestick. This shows a solid purchase at lower levels. The bulls will try again to push the worth over 693 US dollars. If you possibly can do that, the couple could skyrocket the resistance zone of 732 to 761 US dollars.
When the worth has expired and breaks under the 20-day EMA, this implies that the bulls book profits. The couple can then drop to the 50-day SMA ($ 612).
Solana price forecast
Solana (Sol) rose on May 23 on the resistance of $ 180, however the bears represent a powerful challenge at $ 185.
Upsloping 20-day EMA ($ 167) and the RSI within the positive zone show that the trail of the slightest resistance is the wrong way up. If buyers receive the worth of over $ 185, the SOL/USDT pair could gather at $ 210 and in a while 220 US dollars.
Contrary to this assumption, the worth interprets and dissolves under the 20-day EMA that the bulls are racing to the exit. This increases the chance of waste to the 50-day SMA ($ 147).
Dotecoin price forecast
Dogecoin (Doge) turned away from the overhead resistance of $ 0.26 on May 23, which indicates that the bears defend the extent violently.
The Doge/USDT pair could relegate to the 20-day EMA ($ 0.21), which is a very important support that you’ve gotten to listen to. A solid jump from the 20-day EMA signals a positive mood and improves the prospect of a break over $ 0.26. In this case, the couple could gather at 0.35 US dollars. There is a resistance of $ 0.29, but it surely might be crossed.
This optimistic view is made invalid at short notice when the worth drops and breaks below $ 0.21. This indicates a possible effect between $ 0.14 and $ 0.26.
Cardano price forecast
Cardano (ADA) bounced off the neckline of the inverse H&S pattern, however the bulls couldn’t extinguish the overhead obstacle at 0.86 USD.
If the worth stays lower and breaks under the neckline, this shows that the bears are lively at higher levels. The ADA/USDT pair could fall on the 50-day SMA ($ 0.69) and in a while solid support at $ 0.60.
In contrast, a solid jump from the 20-day EMA (0.75 USD) shows demand at lower levels. The bulls will then try again to throw the worth over 0.86 USD. If you’re successful, the couple could rise to USD 1.01.
Sui price forecast
On May 22, the buyers were unable to press the overhead resistance of 4.25 US dollars, which indicates that the bears aggressively defend the bears.
Repeated failure to cross the extent of $ 4.25 could have tried short -term buyers to book profits. This pulled the worth under the 20-dayema ​​($ 3.73). If the worth occurs under the 20-day EMA, the SUI/USDT pair could drop to the 50-day SMA (USD 3.09).
On the contrary, when the worth appears from the 20-day EMA and breaks over $ 4.25, it indicates the resumption of the up movement. The couple could increase on 5 US dollars and at last to five.37 US dollars, where the bears are expected to occur.
Hyperliquid price forecast
Hyperliquid (hype) rose over the stiff overhead resistance of $ 28.50 on May 22, which indicates the start of the following stage of the up movement.
The bulls exceeded the worth on May 23 on the resistance of 35.73 US dollars, however the long wick on the candlestick shows that the bears attempt to defend the extent. If buyers don’t quit quite a lot of soil, the Hype/USDT pair could increase to $ 42.25.
Time is running for the bears. If you wish to make a comeback, you’ve gotten to quickly pull the worth under the 20-dayemaa ($ 26.32). The couple has an area top near 37.59 US dollars.
Kettlink prize forecast
Chainlink (link), which was closed on May twenty second over the resistance line of the descending channel pattern, however the bulls find it difficult to take care of the impulse.
The bears try to tug the worth back into the descending channel. If the worth falls below the neckline, he indicates that the outbreak above the resistance line could have been a bull trap. The Link/USDT pair could drop to $ 13.20 and put the worth for a little bit more time within the channel.
Conversely, a firm jump from the resistance line shows that the bulls attempt to turn the extent to the support. The couple could rise to $ 18 after which 19.80 US dollars.
This article doesn’t contain investment advice or recommendations. Every investment and trade movement is the chance, and readers should perform their very own research results in the event that they make a call.
