Price Predictions for May 16: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX
The price surge of Bitcoin hit a hurdle at $104,000, but surpassing such resistance could open the door to a move towards $130,000.
Key Points:
A close of Bitcoin's price above $105,000 could accelerate momentum and trigger a rally up to $130,000.
Ether continues to gain strength, which is reflected in many altcoins.
has been consolidating between $100,718 and $105,819 in recent 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 their positions while anticipating a new upward leg.
Market intelligence firm Santiment highlighted in a post on X that the inability to surpass $105,000 has caused impatience among retail traders, which “historically is a bullish signal for prices.”
