Key points:
Bitcoin has taken a tumble below $109,588, yet the charts whisper sweet nothings of dip-buying traders. 📉💸
With Bitcoin futures riding the leverage rollercoaster, brace yourself for a potential correction that could make your stomach churn! 🎢
Some altcoins are playing hard to get, retreating from their lofty resistance levels, as the bears continue their relentless sell-off. 🐻💔
In a dramatic twist, sellers have yanked Bitcoin (BTC) back below the sacred breakout level of $109,588. But fear not, for the depths may just lure in eager buyers! Investor enthusiasm remains as robust as ever, with US spot Bitcoin ETFs raking in a whopping $934 million on May 22 and $608 million on May 21, according to SoSoValue data. 💪💰
Glassnode has observed that the all-time high above $109,588 led to a profit-taking frenzy of about $1 billion—much tamer than the $2 billion when prices soared past $100,000 last December. It seems investors are still holding onto the hope of a continued upward journey. 🚀
Veteran trader Peter Brandt boldly declared on X that Bitcoin is on a trajectory to hit between $125,000 and $150,000 by the end of August. Talk about optimism! 🌟
As the rally gains momentum, speculators are loading up on leverage like it’s Black Friday. CoinGlass data reveals that Bitcoin futures open interest has surged to over $80 billion on May 23. But beware! Excessive leverage could lead to forced liquidations faster than you can say “oops!” 😱
What are the critical support levels for Bitcoin and its altcoin companions? Let’s dive into the charts of the top 10 cryptocurrencies and find out! 🔍
Bitcoin price prediction
Sellers are attempting to keep the price below the breakout level of $109,588, which could ensnare the overly eager bulls. This might drag the price down to the 20-day exponential moving average ($103,652). 🐂💔
A solid bounce off the 20-day EMA suggests that the sentiment remains as buoyant as a beach ball at a summer party, with traders buying on dips. The bulls will once again attempt to reignite the uptrend by pushing the price above $111,980. If they succeed, the BTC/USDT pair could sprint toward the target of $130,000. 🏃♂️💨
The first sign of weakness? A break below the 20-day EMA. That would clear the path for a drop to the psychologically significant level of $100,000. Buyers are expected to defend this level like it’s the last slice of pizza at a party, because a break below could send the pair plummeting to the 50-day simple moving average ($94,001). 🍕
Ether price prediction
Ether (ETH) has turned tail from the $2,738 resistance, indicating that the bears are fiercely guarding their territory. 🐻🚧
The ETH/USDT pair could drop to the 20-day EMA ($2,388), a crucial support level to keep an eye on. If the price rebounds off the 20-day EMA with gusto, the bulls will once again try to conquer the $2,738 hurdle. If they succeed, the pair could soar to $3,000. Resistance at $2,850? Pfft, it’s likely to be crossed! 🚀
This sunny outlook will be dashed if the price continues to fall and breaks below the 20-day EMA. The pair could plunge to $2,323 and then to $2,111. Yikes! 😬
XRP price prediction
XRP (XRP) remains trapped in the $2.65 to $2 range, indicating a stalemate between supply and demand. 🥴
The 20-day EMA ($2.35) is flattening out, and the RSI is lounging near the midpoint, suggesting that the XRP/USDT pair may linger in this range for a few more days. 💤
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The BNB/USDT pair bounced off the 20-day EMA ($647), as evidenced by the long tail on the candlestick. This shows solid buying at lower levels. The bulls will again try to thrust the price above $693. If they manage to do that, the pair could skyrocket to the $732 to $761 resistance zone. 🚀
However, if the price turns down and breaks below the 20-day EMA, it suggests that the bulls are cashing in their chips. The pair may then plummet to the 50-day SMA ($612). 🎰
Solana price prediction
Solana (SOL) climbed above the $180 resistance on May 23, but the bears are putting up a fierce fight at $185. 🐻⚔️
The upsloping 20-day EMA ($167) and the RSI in the positive zone indicate that the path of least resistance is upward. If buyers can hold the price above $185, the SOL/USDT pair could rally to $210 and later to $220. 🌈
Conversely, if the price turns down and breaks below the 20-day EMA, it suggests that the bulls are making a hasty exit. This increases the risk of a drop to the 50-day SMA ($147). 🚪💨
Dogecoin price prediction
Dogecoin (DOGE) turned down from the $0.26 overhead resistance on May 23, indicating that the bears are fiercely defending their turf. 🐻💪
The DOGE/USDT pair could descend to the 20-day EMA ($0.21), an important support level to watch. A solid bounce off the 20-day EMA signals a positive sentiment, improving the chances of breaking above $0.26. If that happens, the pair could rally to $0.35. Resistance at $0.29? Likely to be crossed! 🏆
This optimistic view will be invalidated if the price turns down and breaks below $0.21, suggesting a possible range-bound action between $0.14 and $0.26. 🤷♂️
Cardano price prediction
Cardano (ADA) bounced off the neckline of the inverse H&S pattern, but the bulls couldn’t clear the overhead obstacle at $0.86. 🐂🚧
If the price continues lower and breaks below the neckline, it shows that the bears are active at higher levels. The ADA/USDT pair could drop to the 50-day SMA ($0.69) and later to the solid support at $0.60. 😬
On the flip side, a solid bounce off the 20-day EMA ($0.75) shows demand at lower levels. The bulls will then again attempt to kick the price above $0.86. If they succeed, the pair could ascend to $1.01. 🌟
Sui price prediction
Buyers failed to push Sui (SUI) above the overhead resistance of $4.25 on May 22, indicating that the bears are aggressively defending the level. 🐻🛡️
Repeated failure to cross the $4.25 level may have tempted short-term buyers to book profits, pulling the price below the 20-day EMA ($3.73). If the price stays below the 20-day EMA, the SUI/USDT pair could plummet to the 50-day SMA ($3.09). 📉
On the contrary, if the price turns up from the 20-day EMA and breaks above $4.25, it indicates the resumption of the up move. The pair could climb to $5 and eventually to $5.37, where the bears are expected to step in. 🐻💼
Hyperliquid price prediction
Hyperliquid (HYPE) soared above the stiff overhead resistance of $28.50 on May 22, indicating the start of the next leg of the up move. 🚀
The bulls pushed the price above the $35.73 resistance on May 23, but the long wick on the candlestick shows the bears are trying to defend the level. If buyers don’t give up much ground, the HYPE/USDT pair could surge to $42.25. 💥
Time is running out for the bears. If they want to make a comeback, they’ll need to swiftly drag the price back below the 20-day EMA ($26.32). That signals the pair has formed a local top near $37.59. ⏳
Chainlink price prediction
Chainlink (LINK) closed above the resistance line of the descending channel pattern on May 22, but the bulls are struggling to maintain the momentum. 🐂💨
The bears are trying to pull the price back into the descending channel. If the price skids below the neckline, it suggests that the breakout above the resistance line may have been a bull trap. The LINK/USDT pair could sink to $13.20, keeping the price stuck inside the channel for a while longer. 😬
Conversely, a solid bounce off the resistance line indicates that the bulls are trying to flip the level into support. The pair could rise to $18 and thereafter to $19.80. 🌈
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2025-05-23 21:26