Source: Cointelegraph.com NewsKey points:<\/p>\n
Bitcoin holding $100,000 as a level of support would confirm the current trend change.
\nEther leads among altcoins, and DeFi tokens could follow.<\/p>\n
Bitcoin (BTC) broke above the psychologically critical $100,000 level on May 8, and the bulls are trying to hold on to the level on May 9. In an X post, CoinGlass said that Bitcoin\u2019s rally resulted in $837.80 million in short liquidations in a 24-hour period, the largest since 2021. Source: Cointelegraph.com NewsKey points: Bitcoin holding $100,000 as a level of support would confirm the current trend change. Ether leads among altcoins, and DeFi tokens could follow. Bitcoin (BTC) broke… <\/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\/128942"}],"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=128942"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/128942\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=128942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=128942"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=128942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nBitcoin\u2019s rally also lifted several major altcoins, which soared above their respective overhead resistance levels. The altcoin rally was led by Ether\u00a0(ETH), which surged roughly 22% on May 8, triggering a $328 million liquidation of Ether short positions.
\nCrypto market data daily view. Source: Coin360Although the short-term picture has turned positive, Bitcoin bulls are expected to face significant resistance near the all-time high of $109,588. During pullbacks, traders will have to maintain the price above $100,000 to retain the bullish momentum.\u00a0
\nCould Bitcoin continue its upward move and pierce the all-time high? Are altcoins getting ready for a short-term rally? Let\u2019s analyze the charts of the top 10 cryptocurrencies to find out.
\nBitcoin price prediction
\nBitcoin rallied more than 6% and closed above the $100,000 barrier on May 8, indicating that buyers have asserted their supremacy.
\nBTC\/USDT daily chart. Source: Cointelegraph\/TradingViewThe BTC\/USDT pair could reach the $107,000 to $109,588 zone, where the bears are expected to mount a strong defense. The overbought level on the relative strength index (RSI) suggests a short-term pullback is possible.
\nIf the price turns down from the overhead resistance but finds support at the 20-day exponential moving average ($94,879), it signals a positive sentiment. The bulls will then make one more attempt to push the price above the all-time high.
\nThe first sign of weakness will be a close below the 20-day EMA. That suggests profit booking at higher levels. The pair may then tumble to the 50-day simple moving average ($88,139).
\nEther price prediction
\nEther (ETH) skyrocketed above the $2,111 resistance on May 8 and extended its up move to nearly $2,550 on May 9.
\nETH\/USDT daily chart. Source: Cointelegraph\/TradingViewThe long wick on the candlestick shows solid selling near $2,550. If the price turns down from $2,550 but finds support at $2,111, it indicates that the bulls are trying to flip the level into support. The bulls will then make one more attempt to drive the ETH\/USDT pair above $2,550. If they succeed, the pair could climb to $2,850.
\nSellers will have to pull the price below the $2,111 level to weaken the bullish momentum. The pair may then slide to the 20-day EMA ($1,867).
\nXRP price prediction
\nBuyers have pushed XRP (XRP) to the resistance line, which is a crucial near-term level to watch out for.
\nXRP\/USDT daily chart. Source: Cointelegraph\/TradingViewSellers are expected to defend the resistance line aggressively because a break and close above it signals a potential trend change. The XRP\/USDT pair could rise to $2.60 and subsequently to $3.
\nIf the price turns down from the resistance line but finds support at the moving averages, it suggests that the bulls are buying the dips. The bulls will then again attempt to propel the price above the resistance line. Sellers will have to tug the price below the $2 support to seize control.
\nBNB price prediction
\nBNB (BNB) made a decisive move higher on May 8 and rose above the immediate overhead resistance at $620.
\nBNB\/USDT daily chart. Source: Cointelegraph\/TradingViewThe BNB\/USDT pair reached the $644 level on May 9, which is expected to behave as a strong barrier. However, if buyers keep up the pressure and pierce the $644 resistance, the pair could soar to $680.
\nTime is running out for the bears. If they want to halt the uptrend, they will have to fiercely defend the $644 level and pull the price below the moving averages. The pair could then descend to $580.
\nSolana price prediction
\nSolana (SOL) broke and closed above the $153 resistance on May 8, indicating that the bulls are in charge.
\nSOL\/USDT daily chart. Source: Cointelegraph\/TradingViewThe SOL\/USDT pair could reach $180, which is expected to behave as a formidable obstacle. If the price turns down from $180 but rebounds off $153, it suggests that buyers are trying to form a higher low. That enhances the prospects of a rally to $200.
\nThis optimistic view will be invalidated in the near term if the price turns down sharply and plummets below the $140 support. That suggests traders are booking profits at higher levels.
\nDogecoin price prediction
\nBuyers successfully defended the moving averages and pushed Dogecoin (DOGE) to the overhead resistance at $0.21.
\nDOGE\/USDT daily chart. Source: Cointelegraph\/TradingViewSellers will try to halt the up move at $0.21, but if the bulls pierce the resistance, the DOGE\/USDT pair could rally toward $0.25. If the price turns down from $0.25 but finds support at $0.21, it signals that the bulls have flipped the level into support. That suggests the downtrend could be over.
\nContrarily, if the price turns down sharply from $0.21 and breaks below the moving averages, it indicates that the pair may oscillate inside the range for some more time.
\nCardano price prediction
\nCardano (ADA) bounced off the 50-day SMA ($0.67) and completed an inverse head-and-shoulders pattern on May 8.
\nADA\/USDT daily chart. Source: Cointelegraph\/TradingViewThe 20-day EMA ($0.69) has started to turn up, and the RSI is in the positive territory, signaling an advantage to buyers. If the price remains above the neckline, the ADA\/USDT pair could surge toward the pattern target of $1.01. There is resistance at $0.83, but it is likely to be crossed.
\nIf bears want to prevent the upside, they will have to yank the price below the 50-day SMA. That could sink the pair to $0.60 and eventually to $0.50.
\nRelated: Chance of Bitcoin price highs above $110K in May increasing \u2014 Here\u2019s why
\nSui price prediction
\nSui (SUI) rallied sharply from the 20-day EMA ($3.29) and climbed above the $3.90 overhead resistance on May 8.
\nSUI\/USDT daily chart. Source: Cointelegraph\/TradingViewThe upsloping 20-day EMA and the RSI near the overbought zone signal that the bulls are in command. If the price maintains above $3.90, the SUI\/USDT pair could rally to $4.25 and eventually to $5.
\nAlternatively, if the price turns down and closes below $3.90, it suggests that the bears are trying to make a comeback. The pair could then slump to the 20-day EMA, which is likely to act as solid support.
\nChainlink price prediction
\nChainlink (LINK) turned up sharply from the 50-day SMA ($13.72) on May 8 and completed an inverse head-and-shoulders pattern.\u00a0
\nLINK\/USDT daily chart. Source: Cointelegraph\/TradingViewSellers are trying to pull the price back below the neckline, but if the bulls successfully hold the level, the LINK\/USDT pair could break above the resistance line and rally toward the pattern target of $21.30.
\nThis optimistic view will be negated if the price turns down sharply and breaks below the moving averages. That opens the doors for a fall to $12, indicating that the pair may remain inside the channel for a while longer.
\nAvalanche price prediction
\nAvalanche (AVAX) bounced off the moving averages on May 8 and reached the overhead resistance of $23.50 on May 9.
\nAVAX\/USDT daily chart. Source: Cointelegraph\/TradingViewSellers are expected to defend the $23.50 level with all their might because a break and close above the resistance could clear the path for a potential rise to $28.78 and, after that, to $31.73.
\nOn the contrary, if the price turns down sharply from $23.50 and breaks below the moving averages, it suggests that the AVAX\/USDT pair may extend its stay inside the range for a few more days.
\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":"