š° Crypto Market Snapshot ā May 13, 2025
1. Bitcoin Faces Resistance Below $104K
Bitcoin (BTC) is trading around $102,876, experiencing a slight dip from yesterday's levels. Analysts suggest a potential short-term technical sell-off below $100K ahead of the May 13 CPI data release.
2. Ethereum Holds Steady Near $2,500
Ethereum (ETH) is maintaining its position around $2,443, showing resilience after a recent breakout. The price is consolidating, with potential for upward movement if it surpasses the $2,500 resistance.
3. Solana Tests Key Resistance Levels
Solana (SOL) is currently priced at $174.42, approaching the critical resistance zone between $175 and $180. A sustained move above this range could open the path toward $189 and beyond.
4. Meme Coins Update š¶
Dogecoin (DOGE): Trading at $0.2239, down 5.07% in the last 24 hours. Despite the dip, projections estimate a rise to $0.2492 by May 18.
Shiba Inu (SHIB): Currently at $0.0000164, showing signs of consolidation after recent gains. The price action confirms a bullish structure, forming higher highs and pushing toward the $0.00001750 resistance.
5. Pi Network Surges Ahead of Major Announcement š®
Pi Network (PI) has experienced a significant price increase, trading around $1.098, marking a 14.2% rise. This rally is attributed to heightened anticipation for a major ecosystem announcement scheduled for May 14, 2025, during the Consensus Conference in Toronto.
š Trading Strategy Insight: Navigating Resistance Levels
When an asset approaches a known resistance level, such as SOL at $180, traders should watch for breakout confirmations or signs of rejection. A breakout above resistance may signal a bullish trend, while a failure to break through could indicate a potential pullback.
