Key points:
-
Bitcoin holds $ 100,000 as a level of support that may confirm the present trend change.
-
Ether results in old coins and Defi token could follow.
Bitcoin (BTC) broke over the psychologically critical value of $ 100,000 on May 8, and the bulls try to maintain at level on May ninth. In an X-post, CoingGlass said that Bitcoin's rally had led to a period of $ 837.80 million in brief liquidations over a period of 24 hours in 2021.
Bitcoin's rally also raised several large old coins that rose above their respective overhead costs. The Altcoin rally was led by Ether (Ether (Eth), which rose around 22% on May 8 and triggered a liquidation of ether -short positions in the quantity of $ 328 million.
Krypto market data Daily View. Source: Coin360
Although the short-term picture has develop into positive, Bitcoin bulls are expected to be subject to considerable resistance near the all-time high of $ 109,588. In the event of a backing, retailers must maintain the value of over 100,000 US dollars with a view to maintain the bullish dynamics.
Could Bitcoin proceed his upward movement and pierce the all -time high? Are old coins preparing for a brief -term rally? Let us analyze the diagrams of the highest 10 cryptocurrencies to search out out.
Bitcoin price forecast
Bitcoin gathered greater than 6% and closed on May 8 on the 100,000 dollar barrier, which points out that buyers have claimed their supremacy.
The BTC/USDT pair could reach the zone of 107,000 to 109,588 US dollars through which the bears are expected to begin a powerful defense. The overbought level of the relative strength index (RSI) indicates that a brief -term withdrawal is feasible.
If the value reduces the overhead resistance, which, nevertheless, determines support on the 20-day exponential moving average ($ 94,879), it signals a positive mood. The bulls then make one other try and bring the value over the all -time high.
The first sign of weakness will close below the 20-day EMA. This indicates a profit bay on higher levels. The couple can then fall to the 50-day sliding average ($ 88,139).
Ether price forecast
Ether (Eth) rose over the resistance of $ 2,111 on May 8 and expanded its move to almost $ 2,550 on May 9.
The long wick on the candlestick shows a solid sale near 2,550 US dollars. If the value of two,550 US dollars has dropped, but supports support at 2,111 US dollars, this means that the bulls attempt to turn the extent to support. The bulls then make one other try and promote the ETH/USDT pair over 2,550 US dollars. If you’re successful, the couple could rise to 2,850 US dollars.
The sellers must pull the value below the extent of $ 2,111 to weaken the bullish dynamics. The couple can then slide into the 20-day EMA ($ 1,867).
XRP price forecast
Buyers have pressed XRP (XRP) onto the resistance line, which is a decisive short -term level that they should concentrate to.
Seller is anticipated to defend the resistance line aggressively because a break and shut a possible trend change. The XRP/USDT pair could increase to 2.60 US dollars after which to three US dollars.
If the value refers back to the resistance line, but supports support within the moving average values, this means that the bulls buy the dips. The bulls then try again to drive the value above the resistance line. Seller must pull the value under the support of $ 2 to take control.
BNB price forecast
BNB (BNB) made a decisive movement on May 8 and rose with 620 US dollars over the immediate overhead resistance.
The BNB/USDT pair reached the extent of $ 644 on May 9, which is able to behave as a powerful barrier. However, if buyers maintain the pressure and pierce the resistance of 644 US dollars, the couple could rise to 680 US dollars.
Time is running for the bears. If you wish to stop the upward trend, you will have to violently defend the extent of 644 US dollars and pull the value under the moving average values. The couple could then descend to $ 580.
Solana price forecast
Solana (Sol) broke and closed on May 8 on the resistance of 153 US dollars, which points out that the bulls are responsible.
The SOL/USDT pair could achieve $ 180, which is because of the impressive obstacle. When the value of $ 180 drops, however it bounces 153 US dollars, this means that buyers attempt to form a better low. This increases the prospects of a rally to 200 US dollars.
This optimistic view is made invalid at short notice when the value has expired and reduces $ 140. This indicates that traders book profits on higher levels.
Dotecoin price forecast
The buyers successfully defended the moving average values ​​and pushed Dogecoin (Doge) on the overhead resistance at $ 0.21.
Sellers will attempt to stop the elevator at 0.21 US dollars, but when the bulls penetrate resistance, the Doge/USDT pair could gather to 0.25 US dollars. If the value of 0.25 US dollars has dropped, but finds support at $ 0.21, he signals that the bulls have turned the extent into support. This indicates that the downward trend might be over.
If the value of $ 0.21 runs strongly and breaks under the moving average values, this means that the couple can fluctuate in the world for a bit of more time.
Cardano price forecast
Cardano (ADA) bounced off the 50-day SMA (0.67 USD) and accomplished an opposite head and debt pattern on May 8.
The 20-day EMA ($ 0.69) has began to dive, and the RSI is within the positive area and signals a bonus for buyers. If the value stays above the neckline, the ADA/USDT couple could increase within the direction of the sample goal of USD 1.01. There is a resistance of $ 0.83, however it might be crossed.
If bears want to stop the upward trend, you will have to lift the value under the 50-day SMA. That could sink the couple to $ 0.60 and at last to $ 0.50.
Sui price forecast
SUI (SUI) gathered strongly from the 20-day EMA (USD 3.29) and rose on May 8 over the overhead resistance of USD 3.90.
Upsloping 20-day EMA and the RSI near the overkurzone signal that the bulls have the command. If the value maintains over $ 3.90, the SUI/USDT pair could gather to $ 4.25 and at last to $ 5.
If the value refuses and closes below 3.90 US dollars, they believe that the bears try to realize a comeback. The couple could then fall into the 20-day EMA, which is able to probably act as solid support.
Kettlink prize forecast
Chainlink (link) rose strongly from the 50-day SMA ($ 13.72) on May 8 and accomplished a reverse head and debt pattern.
Seller try to drag the value back under the excerpt, but when the bulls hold the extent successfully, the link/USDT pair could break through the resistance line and gather on the sample goal of $ 21.30.
This optimistic view is negated when the value is strongly rejected and breaks under the moving average values. This opens the doors for a fall to 12 US dollars, which indicates that the couple may stay within the channel longer.
Avalanche prize forecast
Avalanche (Avax) crashed from the moving average values ​​on May 8 and reached the overhead resistance of USD 23.50 on May 9.
Seller is anticipated to defend the extent of $ 23.50 with all power because a break and closure above the resistance could extinguish the best way for a possible increase of $ 28.78 after which to $ 31.73.
On the contrary, if the value of USD 23.50 and breaks under the common moving values, it’s proposed that the AVAX/USDT pair can extend their stay in the world for just a few more days.
This article doesn’t contain investment advice or recommendations. Every investment and trade movement is the danger, and readers should perform their very own research results in the event that they make a choice.
