Driven by robust inflows into spot ETFs, Bitcoin Hits $100K this week, therefore indicating a significant rebirth in market trust. As institutional demand shows no slowing down, Bitcoin is presently inching closer to its all-time high near $109,588 as buyers enter forcefully.
Support is now solidly established at the $100,000 level, which bulls have to defend to maintain the surge. Bitcoin Market clearly broke over important resistance levels over the past seven days with advances more than 10%. The constant demand from big-scale investors shows a change in market mood as momentum returns.
Though the Relative Strength Index (RSI) shows overbought circumstances, implying a possible for short-term correction, technically the uptrend is intact. Strong buying demand is anticipated in case of a dip around the 20-day EMA close to $96,526.
A bounce from this support zone would greatly increase the possibility of a breakout above $109,588, therefore opening the path for a rally toward $130,000. Conversely, a break below the 20-day EMA would cause a more acute drop toward the 50-day SMA close to $88,962.
On shorter timesframes, strong opposition between $107,000 and $109,588 is likely. While a loss below $100,000 might cause a more severe fall toward $93,000 or $83,000, a good defence of the 4-hour 20-EMA could maintain bullish strength.
Ether bursts higher targets $3,000
This week Ether (ETH) moved explosively, surging from $1,808 to $2,600 in just two days. This vertical push points to a likely pause or short-term retracement before the following leg higher, pushing the RSI into overbought area.
Important supporting levels fall at $2,320 and $2,111. Should ETH surpass these zones, the road appears clear for a climb toward $2,850 with the psychological $3,000 level of emphasis in front of view. A decline below $2,111, however, would undermine the immediate bullish argument and might keep Ether range-bound between $1,754 and $2,600 for some time.
Though resistance around $2,609 is proving difficult, bulls managed to transform $2,550 into support in shorter timesframes. While a plunge below the 4-hour 20-EMA would open the door for a further retrasion, a breakout above that level could restart momentum.
Dogecoin Breaks Out and Indices Bullish Reversal
Rising beyond the $0.21 resistance on May 10, Dogecoin (DOGE) signalled a possible reversal of trends. Though the price is now under opposition close to $0.26, the general framework points to increasing positive pressure.
Strong DOGE rebounds from $0.21 could draw fresh purchasing, therefore preparing the ground for a push toward $0.31. Bulls have to keep the line above the 20-day EMA, which right now is roughly $0.19 in order to preserve this trend. Ignoring this can see the token locked in a larger spectrum between $0.14 and $0.26.
On any retreat, immediate support levels are $0.22 and $0.21; momentum favours the upward if these levels hold.
Pepe Rallies PPE Tests Important Obstacle
Rising sharply from its 50-day SMA, Pepe (PEPE) tore through the $0.000011 barrier and drew short-term investors. The action suggests an approaching downturn or consolidation since it has pushed its RSI well into overbought area.
Should PEPE retests show the $0.000011 breakout level, it may be recharged for a target towards $0.000017, maybe even $0.000020. On the other hand, a decline below the 20-day EMA close to $0.000009 would probably stop the surge and contradict the optimistic story.
On the 4-hour chart, sellers are vigorously safeguarding the $0.000014 level. Another effort at breaking through could result from a bounce off the 4-hour 20-EMA. Should support fall short, the price might slide back to $0.000011, the 50-SMA.
Cosmos (ATOM) Breaks Out Eyes $6.50
Beyond Cosmos broke past the $5.15 resistance on May 10, therefore indicating a release from a protracted accumulation phase. This breakout points to a possible trend change, even although bears are probably going to defend at this level.
The next upward goal becomes $6.50, should bulls be able to maintain the price above $5.15; should momentum continue, this may reach $7.50. A drop toward $4.70 and the 20-EMA would follow, though, if sellers take back control and drive the stock down below $5.15.
Traders should wait for a consolidation before the next breakout effort since the RSI on the 4-hour chart likewise falls in overbought area. Bulls have to defend $5.15 if they want to keep the present surge alive.
Altseason Buzz Spreads as Altcoins Get Heat
Though others doubt if a real altseason has started, recent gains in assets including DOGE, PEPE, and ATOM point to a more general change in market mood. Although many crypto markets, are still healing from past losses, the coordinated advances in several sectors point to a resurgent bullish appetite.
