⚪️Key points:
A close of Bitcoin's price above $105,000 could accelerate momentum and trigger a rally to $130,000.
Ether continues to gain strength, which is reflected in many altcoins.
Bitcoin (BTC) has been consolidating between $100,718 and $105,819 over the past few days, indicating a balance between supply and demand. A positive sign is that the price has remained above the psychologically crucial level of $100,000, suggesting that bulls are holding onto their positions while anticipating another leg higher.
Market intelligence firm Santiment highlighted in a post on X that the failure to surpass $105,000 has caused impatience among retail traders, which "historically is a bullish price sign."
However, the repeated failure to push the price to the all-time high of $109,588 could tempt short-term buyers to take profits. This puts the $100,000 support at risk of breakdown. If that happens, Bitcoin could be in for a deeper pullback.
Could buyers push the price to a new all-time high, making selected altcoins rise higher? Let's analyze the charts of the top 10 cryptocurrencies to find out.
⚪️ETH price prediction:
Ether's (ETH) pullback is finding support at the breakout level of $2,550, indicating that each minor dip is being bought.
If the price rises from the current level and breaks above $2,750, the ETH/USDT pair could resume its upward movement. There is resistance at $2,860, but it is likely to be crossed. The pair could then rise to $3,000.
The level of $2,400 is the crucial support to watch on the downside. A break below could sink the pair to the 20-day EMA ($2,225). If the price recovers from the 20-day EMA, the bulls will try to resume the upward movement.
⚪️XRP price prediction:
XRP (XRP) has reached the resistance line after dropping from the overhead resistance of $2.65 on May 14.
If the price drops below the resistance line, it suggests that bullish momentum has weakened. This increases the likelihood of a range-bound action between $2.65 and $2 for a few days.
On the contrary, a strong bounce from the resistance line indicates that bulls are trying to flip the level into support. Sellers may pose a solid challenge at $2.65, but if the bulls prevail, the XRP/USDT pair could reach $3.