key points:
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Bitcoin stuck below $ 105,000 during the weekend, but the negative side looks limited.
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Any relief rally in bitcoin is likely to propel Ath, Hype, Tao and QNT higher.
Bitcoin (BTC) stuck below the level of $ 105,000 during the weekend, indicating that the sellers have maintained their pressure.
Cryptoquant said in its latest report that it was sent to cointelegraph that “some demand for bitcoin could reach a short -term top, which could be a stagnation in the current rally.”
On the negative side, analysts estimated the bitcoin to find support at a psychologically important level of $ 100,000. Even if the level cracks, the negative side looks limited. Glasanode data shows that the short -term feeling value is $ 96,000. Historically, bitcoin has not retained below the short -term feeling value for an extended period during the bull stages.
Rapid outlook is not limited to bitcoin alone. Select Analysts believe that the (Ath) chart pattern of Ether indicates the onset of the next Altcoin season, which can trigger a large -scale rally in ultcoin if history repeats itself.
Can Bitcoin start a relief rally towards $ 109,588, allowing Altcoins to pull more? If this happens, let’s look at the cryptocurrency that looks strong on the chart.
Bitcoin value prediction
Bitcoin fell below the 20-day exponential moving average ($ 105,232) on 30 May, leading to rapid speed.
Bulls are trying to push the price back over the 20-day EMA, but are likely to face sales at a higher level. If the price is reduced by the 20-day EMA, the BTC/USDT pair may fall to $ 100,000. Bulls are expected to defend the level of $ 100,000 with all, as a drop below it can start a downtrend towards $ 93,000.
The 20-day EMA and the relative power index (RSI) flattened near the midpoint suggests a possible range-bound action in the near period. Buyers will have to run up to $ 130,000 to open doors for a rally to a pair above $ 111,980.
Both moving averages are decreasing, and the RSI is in the negative area, indicating a slight edge for the bear. The sellers will try to prevent recovery in 20-EMA. If they manage to do so, the pair can be closed and fall below the support of $ 103,000. It clears the way up to $ 100,000 for a slide.
On the other hand, a break and close over the 20-EMA shows that the bulls are trying to return. The pair can then increase to a 50-percent moving average, which is likely to attract vendors.
Ether value prediction
Ether pulled back to the 20-day EMA ($ 2,496) after failing to stay above an overhead resistance of $ 2,738 on 29 May.
Buyers have managed to protect the 20-day EMA, but the risk of breaking down to start a strong rebound increases. If this happens, the Eth/USDT pair may fall to $ 2,323. Buyers are expected to strictly defend the level as a break below it can deepen the pullback to a brake 50-day SMA ($ 2,133).
Instead, if the price changes rapidly from the current level, it suggests buying on dips. Bulls will then make another attempt to clean the overhead barrier at $ 2,738. If they succeed, the pair can rally $ 3,000 and then up to $ 3,253.
The 4-hour chart suggests that the pair is integrating between $ 2,462 and $ 2,738 for some time. Negative zone signals in 20-EMA and RSI which have upper hand, Downsloping and RSI. If $ 2,462 level cracks, the pair may fall to $ 2,323.
Alternatively, if the price increases and breaks above the moving average, it suggests that the range-bound action may continue for a while. The buyers will return to the driver’s seat on a break above $ 2,800.
Exaggerated value prediction
Hyperlicid (Hyp) withdraws from $ 40 on 26 May, but is receiving support in the 20-day EMA ($ 30.76).
This indicates a positive feeling, where bulls are buying on dips. The bull will have to advance the price above $ 35.73 to strengthen its position. If they manage to do so, the Hype/USDT pair can rally $ 40 and eventually $ 42.25.
This optimistic approach will be rejected in the near period if the price decreases than the current level and breaks below the 20-day EMA. The pair could then land at a breakout level of $ 28.50.
Bulls are trying to push the pair over 20-ama, but are facing harsh resistance from the bear. If bulls prevail, the pair may increase overhead resistance of $ 35.73.
Conversely, if the price is reduced by 20-EMA, it suggests that bears are trying to take charge. Sales may intensify on a break and shut down from $ 30.59. The pair can then land up to $ 28.50.
Connected: What happened today in Crypto
Duality prediction
Bittensor (TAO) changed rapidly from the 50-day SMA ($ 379) on 31 May and reached $ 495 overhead resistance.
The vendors successfully defended a level of $ 495, but if the price is above the 20-day EMA ($ 421), it suggests that Bulls are buying on dips. This increases the possibility of a break and closes above $ 495. If this happens, the TaO/USDT pair will complete a rapidly inverted head and shoulder pattern. The pair could then rally $ 589 and later by $ 720.
Vendors are likely to have other schemes. They will try to draw a price below 20-day EMA and challenge the 50-day SMA. Increases profit in favor of a brake and closed beers under the 50-day SMA.
The 20-EMA has started changing gradually, and the RSI is near the midpoint, taking a little advantage of the bulls. If the price bounces 20-Ema with force, the pair can climb to $ 460. The sellers will try to stop UP’s move at $ 460, but if the bulls have their own way, the pair can reach $ 480.
Unlike this notion, a break and close under the 20-EMA indicates that the bulls are losing their grip. The pair can fall to $ 396 and then to $ 366.
Quantity value prediction
QNT turned below $ 120 on May 28, but the pullback is getting support in 20-day EMA ($ 101).
RSI suggested the attempting moving averages and positive fields that the least resistance is reverse. If buyers run a price above $ 120, the QNT/USDT pair can rally up to $ 142. There is resistance to $ 124, but it is likely to be crossed.
Conversely, if the price decreases and breaks below the 20-day EMA, it indicates that the bear has seized control. It opens the door for a drop for a 50-day SMA ($ 87).
The 20-EMA is flattened, and the RSI is near the midpoint, suggests a balance between supply and demand. Buyers have to promote the price above $ 113 to seize control. The pair could then rally up to $ 120.
The first indication of weakness will be a break and closed under the 50-SMA. This increases the risk of falling below the support of $ 103. If this happens, the pair may be a tumble for solid support at $ 92.
There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.
