Quick Facts
Before trading, it’s best to know the performance of these digital assets in recent times and any factors that could impact their future values.
Cryptocurrency Market Outlook: Price Projections for Top Tokens
Bitcoin (BTC)
Bitcoin is currently trading above $100,000, but buyers are struggling to sustain prices above $105,000. Research firm Santiment notes that Bitcoin whales and sharks, holding 10 to 10,000 Bitcoin, have accumulated 83,105 Bitcoin in the past 30 days, suggesting that it may be a matter of time before Bitcoin’s all-time high is taken out.
If the price maintains above $100,000, the possibility of a retest of the all-time high increases. There is stiff resistance in the $107,000 to $109,588 zone, but if it is crossed, the BTC/USDT pair could skyrocket to $130,000. However, not everyone is bullish in the short term. Alphractal CEO Joao Wedson says that Bitcoin is at the “Alpha Price” zone, which could attract profit-taking by long-term holders or whales.
Ethereum (ETH)
Ethereum has skyrocketed above the $2,550 resistance, but the higher levels are attracting sellers. The overbought level on the RSI signals a possible correction or consolidation in the near term. If the price slips below $2,550, the bears will try to strengthen their position by pulling the ETH/USDT pair below $2,400.
Contrarily, a bounce off $2,550 indicates that the bulls are buying on every minor dip, enhancing the likelihood of a rally to $3,000.
XRP (XRP)
XRP’s rally is facing resistance at $2.65, but a positive sign is that the bulls have not ceded ground to the bears. The rising 20-day EMA ($2.32) and the RSI in the positive territory indicate that buyers have an edge. A break and close above $2.65 opens the doors for a potential rally to $3. Buyers are expected to face significant resistance from the bears in the $3 to $3.40 zone.
BNB (BNB)
Buyers have kept BNB above the breakout level of $644 but are struggling to push the price above the $675 level. The 20-day EMA ($627) is rising, and the RSI is near the overbought zone, indicating an advantage to buyers. A break and close above $675 signals the resumption of the rally. That opens the doors for a potential rally to $745.
Solana (SOL)
Solana has resumed its up move after breaking above the $180 resistance, but the bulls are struggling to hold on to the higher levels. The bears have pulled the price back below $180 on May 14. If they sustain the lower levels, the SOL/USDT pair could skid to the 20-day EMA ($159).
A solid bounce off the 20-day EMA suggests the bullish momentum remains intact. The bulls will then try to catapult the pair to $210. Contrarily, a break and close below the 20-day EMA signals that the breakout above $180 may have been a bull trap. The pair may then tumble to $153.
Dogecoin (DOGE)
Dogecoin has been sandwiched between $4.25 and $3.90 for the past few days, indicating that the bulls are holding on to their positions as they anticipate another leg higher. If buyers propel the price above $4.25, the DOGE/USDT pair could pick up momentum and surge to $5.
Buyers may find it difficult to clear the overhead zone between $5 and the all-time high of $5.37. Alternatively, if the price turns down and closes below $3.90, it suggests that the bulls are booking profits. The pair may descend to the 20-day EMA ($3.57), which is likely to attract buyers.
Cardano (ADA)
Cardano has been sandwiched between $0.86 and $0.68 for the past few days, that the bulls are holding on to their positions as they anticipate another leg higher. If buyers propel the price above $0.86, the ADA/USDT pair could pick up momentum and rally to $1.01.
Buyers may find it difficult to clear the overhead zone between $1.01 and the all-time high of $1.35. Alternatively, if the price turns down and closes below $0.68, it suggests that the bulls are booking profits. The pair may descend to the 50-day SMA ($0.58), which is likely to attract buyers.
Sui (SUI)
Sui has bounced off the breakout level of $4.25, indicating that the bulls have flipped the level into support. If buyers propel the price above $4.25, the SUI/USDT pair could pick up momentum and surge to $5.
The 20-day EMA ($3.80) is the critical support to watch out for on the downside. If bears want to make a comeback, they will have to quickly pull the price below the 20-day EMA. The pair may then slide to $3.25, which is likely to attract buyers.
Chainlink (LINK)
Chainlink has been sandwiched between $15.43 and $14.83 for the past few days, indicating that the bulls are holding on to their positions as they anticipate another leg higher. If buyers propel the price above $15.43, the LINK/USDT pair could pick up momentum and rally to $21.30.
Buyers may find it difficult to clear the overhead zone between $21.30 and the all-time high of $25. The 20-day EMA ($14.83) is the critical support to watch out for on the downside. If bears want to make a comeback, they will have to quickly pull the price below the 20-day EMA. The pair may then slide to $12.50, which is likely to attract buyers.
Avalanche (AVAX)
Avalanche has bounced off the breakout level of $23.50, indicating that the bulls have flipped the level into support. If buyers propel the price above $23.50, the AVAX/USDT pair could pick up momentum and surge to $28.78.
The 20-day EMA ($22.63) is the critical support to watch out for on the downside. If bears want to make a comeback, they will have to quickly pull the price below the 20-day EMA. The pair may then slide to $19.50, which is likely to attract buyers.
