Bitcoin’s bullish market structure remains intact, despite a phase of profit-taking and consolidation setting in. The cryptocurrency has been unable to break through the $109,588 resistance, hinting at a strong defensive stance by the bears. According to a market note from Bitfinex analysts, this behavior is typical following a sharp rally to new all-time highs, suggesting that a mild retracement or consolidation could be beneficial for Bitcoin’s long-term trajectory.
Bitcoin’s Resilient Path
Despite Bitcoin’s struggle to breach the $109,588 threshold, it continues to hover above the psychologically significant $100,000 mark. Keith Alan, co-founder of Material Indicators, maintains an optimistic view, noting that whales are still accumulating. He anticipates that Bitcoin will find solid support around $94,000, potentially setting the stage for another upward push. This aligns with recent trends observed in Bitcoin Surges Past $94,000 as Institutional Interest and Market Optimism Grow.
Market intelligence firm Glassnode echoes this sentiment, highlighting a weakened Relative Strength Index (RSI) which signals a possible pause or reversal in the bullish trend. “Even if a correction occurs, it’s likely that dips will be bought,” Alan observed, emphasizing the ongoing interest in Bitcoin’s prospects.
Altcoins: Mixed Signals
Ether (ETH), the second-largest cryptocurrency by market cap, faces its own set of challenges. The cryptocurrency has been unable to surpass the $2,738 resistance as of May 27, yet buyers continue to exert pressure. The formation of a bullish ascending triangle pattern suggests a potential rally to $3,000, should Ether break and close above the resistance. However, a downturn below the 20-day EMA of $2,467 could spell trouble, possibly dragging the price to $2,323 or even $2,111.
XRP, meanwhile, remains caught between its moving averages, reflecting indecision in the market. The 20-day EMA stands at $2.33, with the RSI hovering just below the midpoint. A dip below the 50-day SMA at $2.24 could see XRP tumble to $2, a level that buyers are expected to defend vigorously. Conversely, surpassing the $2.65 mark could propel XRP to the $3 level.
Market Dynamics: BNB, SOL, DOGE
BNB (BNB) recently surged past the $693 resistance but failed to sustain those new heights. The cryptocurrency’s ascending triangle pattern indicates a possible rally to $752, assuming it can break and close above $693. The 20-day EMA at $658 serves as a critical support level; a breach could trigger further selling, potentially pulling BNB down to the 50-day SMA at $622.
Solana (SOL) is consolidating within a narrow range between the 20-day EMA at $169 and the overhead resistance at $180. Should the price dip below the 20-day EMA, it may signal profit-taking by bulls, leading SOL to $159 and later to the 50-day SMA at $153. If the price rebounds from these levels, SOL could oscillate between $153 and $180 for a while. A break above $180 could reignite its upward momentum, driving it towards the $210 to $220 resistance zone.
Dogecoin (DOGE) is battling to stay above its immediate support at the 20-day EMA of $0.22. A successful defense could keep DOGE within the $0.21 to $0.26 range for several more days. However, a breakdown could lead to a drop to the 50-day SMA at $0.19, introducing a broader range between $0.14 and $0.26. For a broader perspective on these trends, see our previous analysis in Price predictions 5/2: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, LINK, AVAX.
Anticipating the Future
The cryptocurrency landscape is rife with both challenges and opportunities. As Bitcoin and major altcoins navigate these turbulent waters, investors remain watchful, weighing potential gains against inevitable risks. Whether Bitcoin can overcome its current resistance or whether altcoins will find renewed strength, the coming weeks will be crucial.
With market dynamics constantly shifting, the question remains: will the current consolidation phase lay the groundwork for another bullish surge, or will the bears tighten their grip? As we inch closer to June 2025, all eyes remain on the charts, waiting to see which way the winds will blow.
Source
This article is based on: Price predictions 5/28: BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK
Further Reading
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- Bitcoin Traders Brace for ‘Sell in May and Go Away’ as Seasonality Favors Bears
- Crypto Daybook Americas: All Eyes on Jobs, Fed as Bitcoin Prepares for Breakout Rally
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
