Bitcoin BTCUSD is tied to the field for several days, indicating a struggle between the bulls and the bears for dominance. Trading firm Mosaic Asset believes that “loosening financial conditions” could promote a risk-on trade, and Bitcoin could be on the verge of a breakout to the upside.
Ki Young Ju, founder and CEO of CryptoQuant, said in a post on X that Bitcoin remained near $10,000 for six months in 2020 with high chain activity before soaring to $64,000 in 2021. A similar trend was seen in 2024, with “$1B added” daily to new whale purses, likely conservation.”
Although a breakout has eluded Bitcoin, the bulls have had nearly an 11% rally in May. This is the first positive close after three years of negative monthly performance in May. This gives positive momentum to the buyers to extend the bullish performance in June.
Can Buyers Defend the Support Levels in Bitcoin and Altcoins? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin rebounded from the support line of the symmetrical triangle pattern on May 30, but the bulls could not sustain the higher levels.
The bulls will have to push the price above the triangle to gain the upper hand. This could initiate a rally to the overhead resistance of $73,777. The Bears are expected to establish a stout defense at this level.
Conversely, if the price stays lower and breaks below the support line, it will suggest that the bears have taken control. The 
BTCUSDT pair could then tumble to $64,600 and finally to the crucial support at $59,600. The bulls are likely to buy in the zone between $56,550 and $59,600.
Ether price analysis
Ether (ETH) is once again trying to bounce off the breakout level of $3,730, indicating that the bulls are defending the level.
The rising 20-day EMA ($3,559) and the RSI in the positive territory indicate that the bulls have the upper hand. Buyers will try to drive the price to the tight overhead resistance of $4,100. This is an important level for the bears to defend as a break above it would open the way for a rally to $4,868.
Instead, if the 
ETHUSDT pair turns down and breaks below $3,730, it would suggest that the positive momentum has weakened. The upside will tip in favor of the bears if they pull the price below the 20-day EMA.
BNB price analysis
BNB (BNB) has gradually slipped towards the uptrend line, which is likely to act as a strong support.
If the price violently bounces back from the uptrend line, the bulls will try to push it again 
BNBUSDT connect to the overhead resistance at $635. If this level is scaled down, the pair will complete an ascending triangle pattern. This bullish setup has a pattern target of $775.
On the contrary, if the price dips below the uptrend line, it will invalidate the bullish pattern. This could accelerate the sell-off and push the pair down to $536 and then to the essential support at $495.
Solana price analysis
The failure of the bulls to initiate a strong bounce in Solana (SOL) from the 20-day EMA ($165) shows a lack of demand at current levels.
The bears will try to strengthen their position by pulling the price below $162. If they do, the 
SOLUSDT pair can drop to $140. There is minor support at the 50-day SMA ($152), but it is unlikely to hold.
Contrary to this assumption, if the price turns off the current level and rises above $174, it would suggest that the bulls are trying to hold on to the advantage. The pair could then climb to $189 and finally to $205.
XRP price analysis
The bears are pulling XRP (XRP) below the moving averages. If they succeed, the next stop will likely be the support line.
The bulls have defended the support line on three previous occasions, so they will look to do so again. If the price returns with strength from the support line, the 
XRPUSDT pair can rise to $0.57. A break and close above $0.57 will complete the ascending triangle pattern, which has a pattern target of $0.68.
Conversely, if the price stays lower and breaks below the support line, it will suggest that the bulls have given up. The pair could then fall to the critical support at $0.46.
Dogecoin price analysis
The bulls are struggling to maintain Dogecoin (DOGE) above the moving averages, indicating that the bears are selling on every slight recovery.
If the price drops below the 50-day SMA ($0.15), the 
DOGEUSDT pair may drop to $0.14. This level could serve as a floor, but if broken, the slide could extend to the crucial support at $0.12.
Alternatively, if the price bounces back from $0.14, it will indicate demand at lower levels. The pair may then consolidate between $0.14 and $0.18 for a while. A break and close above $0.18 would open the doors for a rally to $0.21.
Toncoin price analysis
Toncoin (TON) is still trading near the moving averages, indicating a lack of aggressive buying or selling by the traders.
The flat 20-day EMA ($6.39) and the RSI near the midpoint suggest that the range-bound action between $4.72 and $7.67 could extend for a few more days. If the price breaks below $6, the short-term advantage could tilt in favor of the bears. The 
TONS ST pair can then drop to $4.72.
On the upside, a break above $6.73 would suggest the bulls are back in the driver’s seat. The pair could then climb to $7.67.
Related: 3 Solid Bitcoin Indicators Predicting BTC Price Rise to $75K in June
Shiba Inu price analysis
The failure of the bulls to push Shiba Inu (SHIB) above the overhead resistance at $0.000030 led to a pullback to the 20-day EMA ($0.000025).
If the price bounces back from the moving averages, the bulls will try to retrace the 
SHIBUSDT pair above $0.000030. If they succeed, the pair could rise to $0.000033 and then to $0.000039.
Conversely, if the price stays lower and breaks below the support line, it will indicate that the bears are attempting a comeback. The pair could then drop to $0.000018, where the buyers are likely to enter.
Cardano price analysis
Cardano (ADA) continued lower and reached the support line of the symmetrical triangle pattern. The bulls are expected to aggressively defend the level.
If the price bounces off the support line and rises above the moving averages, it will suggest that the 
ADAUSDT pair may remain within the triangle for a while longer. A break and close above the triangle could initiate a strong upward move towards $0.62.
Alternatively, if the price turns down and breaks below the support line, it will indicate that the uncertainty has resolved in favor of the bears. This could initiate a downward move to the next support at $0.35.
Avalanche price analysis
Avalanche (AVAX) has been bound between $29 and $40 for the past few days, indicating a balance between supply and demand.
If the price slips below the 50-day SMA ($36), the bears will try to break the 
AVAXUSDT connecting to the strong support at $29. This level is likely to attract strong buying by the bulls, which will keep the pair within the range for some time.
The next directional move is likely to start after the price breaks above $42 or below $29. If the $42 level is taken out, the pair could rise to $50. On the downside, a break below $29 could send the pair down to $20.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should do their own research when making a decision.
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