Source: Cointelegraph.com NewsKey points:<\/p>\n
Bitcoin price hangs near $97,000 as traders await today\u2019s FOMC minutes.
\nBitcoin holding $95,000 as support is key for bullish price expansion in the short term.
\nSelect altcoins are holding their respective support levels, opening the gates for a short-term rally.<\/p>\n
Bitcoin (BTC) bulls are trying to knock down the immediate resistance at $97,895 and challenge the all-important $100,000 level. Crypto analytics platform Santiment said in a post on X that Bitcoin wallets holding between 10 and 10,000 Bitcoin are positive about further gains as they have acquired 81,338 Bitcoin over the past six weeks. Source: Cointelegraph.com NewsKey points: Bitcoin price hangs near $97,000 as traders await today\u2019s FOMC minutes. Bitcoin holding $95,000 as support is key for bullish price expansion in the short term.… <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128781"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=128781"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128781\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128781"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nInvestors have also been piling into BlackRock\u2019s spot Bitcoin exchange-traded fund for the past 16 days, which has boosted its new capital inflows to about $4.7 billion, according to ETF Store President Nate Geraci.
\nBloomberg ETF analyst Eric Balchunas also suggested that the spot Bitcoin ETF \u201cwill have triple gold\u2019s ETF assets under management in 3 to 5 years.\u201d
\nCrypto market data daily view. Source: Coin360According to Bitfinex data, Bitcoin must hold above $95,000 to signal a \u201cstructural shift\u201d into bullish territory, opening the doors for a rally to an all-time high. However, if the $95,000 level cracks, the analysts expect Bitcoin to witness a deeper correction.
\nCould Bitcoin challenge the $100,000 resistance? Are select altcoins showing signs of a short-term up move? Let\u2019s analyze the charts of the top 10 cryptocurrencies to find out.
\nBitcoin price prediction
\nBitcoin rebounded off the 20-day exponential moving average ($93,091) on May 6, indicating that the sentiment remains positive and traders are buying on dips.
\nBTC\/USDT daily chart. Source: Cointelegraph\/TradingViewThere is minor resistance at $97,895, but if the level is crossed, the BTC\/USDT pair could challenge the psychological resistance at $100,000. Sellers are expected to vigorously defend the level because a break above it could propel the pair to $107,000.
\nTime is running out for the bears. If they want to make a comeback, they will have to sink and sustain the price below the 20-day EMA. If they succeed, the pair could tumble to the 50-day simple moving average ($87,441).
\nEther price prediction
\nThe bears are struggling to pull Ether (ETH) below the moving averages, indicating a lack of selling at lower levels.
\nETH\/USDT daily chart. Source: Cointelegraph\/TradingViewBuyers will try to take advantage of the situation and push the price above the immediate resistance at $1,873. If they do that, the ETH\/USDT pair could pick up momentum and soar toward $2,111. There is minor resistance at $1,957, but it is likely to be scaled.\u00a0
\nSellers are likely to have other plans. They will try to tug the price below the moving averages, opening the gates for a fall to $1,537. Buyers will try to defend the $1,537 level, but if they fail in their endeavor, the pair may collapse to the vital support at $1,368.
\nXRP price prediction
\nXRP (XRP) fell below the moving averages on May 4, but the bears could not sink the price to the $2 support.
\nXRP\/USDT daily chart. Source: Cointelegraph\/TradingViewThe flattish moving averages and the RSI just below the midpoint suggest that the XRP\/USDT pair may remain stuck between the resistance line and the $2 support for some more time.
\nA break and close above the resistance line signals a potential trend change. The pair could then rally toward $3. Conversely, a break and close below $2 opens the gates for a collapse to the $1.72 to $1.61 support zone.
\nBNB price prediction
\nThe failure of the bears to sustain BNB (BNB) below the moving averages indicates demand at lower levels.
\nBNB\/USDT daily chart. Source: Cointelegraph\/TradingViewThe bulls will have to try and overcome the barrier at $620 to clear the path for a rally to the strong overhead resistance at $644. Sellers will try to halt the recovery at $644, but if the bulls prevail, the next stop could be $680.
\nThis positive view will be invalidated in the near term if the BNB\/USDT pair turns down and breaks below the $576 support. That heightens the risk of a fall to $520. Buyers are expected to aggressively defend the $500 to $520 zone.
\nSolana price prediction
\nSolana (SOL) is finding support at the moving averages, signaling a positive sentiment where dips are being purchased.
\nSOL\/USDT daily chart. Source: Cointelegraph\/TradingViewThe bulls will try to strengthen their position by pushing the price above the $153 resistance. If they can pull it off, the SOL\/USDT pair could climb to $180 and then to $200. That signals the pair may swing inside the large $110 to $260 range for a while.
\nSellers will have to drag the price below the 20-day EMA to prevent the upside. The pair could then tumble to the 50-day SMA ($133). That indicates a consolidation between $110 and $153 for a few days.
\nDogecoin price prediction
\nDogecoin (DOGE) has been clinging to the moving averages, signaling a balance between supply and demand.
\nDOGE\/USDT daily chart. Source: Cointelegraph\/TradingViewIf the price closes below the moving averages, the bears will try to pull the DOGE\/USDT pair to the support of the range at $0.14. The bulls will attempt to keep the pair inside the range by buying near $0.14.
\nOn the upside, buyers will have to drive and maintain the price above $0.21 to suggest a short-term trend change. The pair could rally to $0.25 and subsequently to the pattern target of $0.28.
\nCardano price prediction
\nCardano (ADA) is witnessing a tough battle between the buyers and sellers near the moving averages.
\nADA\/USDT daily chart. Source: Cointelegraph\/TradingViewThe flattish moving averages and the RSI near the midpoint do not give a clear advantage either to the bulls or the bears. If the price moves up from the current level, it is expected to face selling at $0.75. A break and close above $0.75 could propel the pair to $0.83.
\nOn the downside, there is solid support at $0.58. If the price rebounds off $0.58, the ADA\/USDT pair could form a range. Sellers will seize control on a break below the $0.58 support. The pair may then descend to the $0.54 to $0.50 support zone.
\nRelated: Can XRP price reach $4 in May? Analysts are watching these key levels
\nSui price prediction
\nSui (SUI) rebounded off the 20-day EMA ($3.14) on May 6, indicating that lower levels are attracting buyers.
\nSUI\/USDT daily chart. Source: Cointelegraph\/TradingViewThere is minor resistance at $3.50, but if it is crossed, the SUI\/USDT pair could ascend to $3.90. Sellers are expected to defend the $3.90 level with all their might because a break above it could propel the SUI\/USDT pair to $4.25 and eventually to $5.
\nInstead, if the price turns down and breaks below the 20-day EMA, it suggests that the bulls are rushing to the exit. The pair risks dropping to the solid support at $2.86 and then to the 50-day SMA ($2.61).
\nChainlink price prediction
\nChainlink (LINK) is finding support at the 50-day SMA ($13.66), but the failure to start a strong rebound suggests the bears have kept up the pressure.
\nLINK\/USDT daily chart. Source: Cointelegraph\/TradingViewIf the 50-day SMA gives way, the LINK\/USDT pair could slump to $11.68. Buyers will try to defend the level, but the relief rally is likely to face selling at the moving averages. If the price turns down from the moving averages, the pair could fall to the support line of the descending channel.
\nContrarily, if the price turns up from the current level and maintains above the 20-day EMA ($13.99), the pair could rally toward the resistance line. Buyers will have to pierce the resistance line to signal that the downtrend could be over.
\nAvalanche price prediction
\nAvalanche (AVAX) has slipped below the 50-day SMA ($19.90), indicating that the range-bound action could continue for a few more days.\u00a0\u00a0
\nAVAX\/USDT daily chart. Source: Cointelegraph\/TradingViewIf the price skids below $18.50, the AVAX\/USDT pair could drop to the support of the range at $15.27. Buyers are expected to aggressively defend the $15.27 level, as a break below it may resume the downtrend.
\nAlternatively, a bounce off the current level suggests the bulls are trying to keep the pair inside the upper half of the range. Buyers will have to drive the price above $23.50 to start an up move to $28.78 and then to the pattern target of $31.73.
\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"