Bitcoin BTCUSD is trying to build on its gains above the psychological support of $70,000.Sentiment got a boost after spot Bitcoin exchange-traded funds recorded the second-highest inflow of $887 million on June 4, according to Farside Investors data.
Analysts are keeping a close eye on next week’s US consumer price index (CPI) data. After the 0.1% drop in the CPI data on May 15, Bitcoin started a 7% rally over the next five days. 10x Head of Research Markus Thielen believes that if the year-over-year CPI is 3.3% or lower, it could propel Bitcoin to a new all-time high.
Fidelity Investments head of digital asset strategies Matt Horne said in a June 4 CNBC report that investors should consider a 1-5% allocation to Bitcoin. Such an investment would reduce risk even if Bitcoin were to go to zero, but it would benefit the portfolio if Bitcoin continued its upward trend.
Can buyers manage Bitcoin and pick altcoins above their respective overhead resistance levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin price analysis
Bitcoin broke and closed above the symmetrical triangle pattern on June 4, indicating that the uncertainty has resolved in favor of the buyers.
The 20-day exponential moving average ($68,135) has gradually started to turn, and the relative strength index (RSI) is in the positive zone, indicating an advantage for the bulls. The 
BTCUSDT pair is likely to rise to $73,777, which is likely to be a formidable resistance.
If the price drops sharply from $73,777, it would suggest that the range-bound action could extend for a few more days. On the other hand, a break above $73,777 would open the way for a rally to $80,000 and then to $88,000.
Ether price analysis
Ether (ETH) is trading in a tight range near the critical support of $3,730, indicating that the bulls are defending the level but have failed to initiate a strong pullback from it.
If the price drops and breaks below the 20-day EMA ($3,652), it will suggest that the bulls have given up. This could initiate a downward move towards the 50-day simple moving average ($3,310) and eventually towards $2,850.
Alternatively, if the price jumps violently from the current level, it will indicate aggressive buying by the bulls. A break and close above $4,100 would suggest the resumption of the uptrend. The 
ETHUSDT pair could then rise to $4,868.
BNB price analysis
BNB (BNB) pole vaulted above the $635 resistance on June 4 and completed an ascending triangle pattern.
The bulls maintained their buying and pushed the price above the $692 overhead resistance on June 5. If buyers sustain the higher levels, the 
BNBUSDT pair could extend the upward move towards the pattern target of $775.
Generally, after rising above a strong overhead resistance level, the price turns down and retests the breakout level. The bears will try to pull the price to $635. If buyers turn the level into support, the uptrend can resume. The bears will be back in play if they drop the pair below the uptrend line.
Solana price analysis
Solana (SOL) rallied from the breakout level of $162 on June 3, indicating that the bulls are trying to turn the level into support.
The 20-day EMA ($166) is steadily rising, and the RSI is in positive territory, indicating that the bulls are in command. The 
SOLUSDT pair could reach $189, and then the overhead resistance at $205.
This bullish view will be invalidated in the near term if the price declines and falls below the 50-day SMA ($155). The pair could then drop to $140, where the bulls will try to reverse the decline.
XRP price analysis
XRP (XRP) has been clinging to the moving averages for several days, indicating uncertainty about the next directional move.
The bulls will try to push the price to the overhead resistance of $0.57. A break and close above this barrier would complete the ascending triangle pattern, which could initiate an upward move towards the pattern target of $0.68.
Contrary to this assumption, if the price falls and breaks below the support line, it will invalidate the bullish setup. It can sink 
XRPUSDT pair to the crucial support at $0.46. A bounce from this level could keep the pair within the $0.46 to $0.57 range for a while yet.
Dogecoin price analysis
Dogecoin (DOGE) bounced off the 50-day SMA ($0.15) on June 3, indicating strong demand at lower levels.
The 
DOGEUSDT pair could rise to the overhead resistance of $0.18, which is an important level to watch out for. If buyers pierce this resistance, the pair could rise to $0.21 and then to $0.23.
In contrast, if the price falls from the current level or the overhead resistance, it will suggest that bears are active at higher levels. The short-term trend will turn negative on a break below the 50-day SMA. The pair could then drop to $0.14.
Toncoin price analysis
Toncoin (TON) surged above the $7.67 overhead resistance on June 5, but the long fuse on the candlestick shows that the bears are aggressively defending the level.
If the price declines from the current level, it is likely to find support at the 20-day EMA ($6.60). A strong recovery from this support would indicate that sentiment remains positive and traders are buying on dips. This would improve the prospects of a rally above $7.67. The 
TONS ST pair can then climb to $10.
On the contrary, if the price falls sharply and breaks below the 20-day EMA, it will indicate that the pair may hover between $6 and $7.67 for a while.
Shiba Inu price analysis
The bears tried to sink Shiba Inu (SHIB) below the support line on June 4, but the long tail on the candlestick shows solid buying at lower levels.
The bulls will try to push the price above the overhead resistance of $0.000030. If they succeed, the 
SHIBUSDT pair will complete a bullish ascending triangle pattern. This could initiate an upward move towards the overhead resistance level of $0.000039. There is a minor resistance at $0.000033 but it is likely to be crossed.
The support line remains the key level to watch as a close below it could send the pair down to $0.000018.
Cardano price analysis
Cardano (ADA) bounced off the support line of the symmetrical triangle pattern on June 3, indicating that the bulls continue to defend level.
If the price rises and holds above the moving averages, the 
ADAUSDT pair may gradually try to move to the resistance line. The bulls may find it difficult to push the price above the triangle, but if they do, the pair could pick up momentum and rise towards the pattern target of $0.62.
If bears want to prevent the upside, they will have to drag the price below the triangle. If they succeed, the pair could tumble to $0.35.
Avalanche price analysis
Avalanche (AVAX) has been trading below the moving averages for the past few days, but the bears have been unable to extend the decline. This suggests that selling is drying up at lower levels.
The flat moving averages and the RSI near the midpoint indicate a balance between supply and demand. If bulls ride the price above the moving averages, the 
AVAXUSDT pair may rise to the overhead resistance at $42.
This optimistic view will be negated if the price drops sharply and falls below the $34 support. The pair could then reach the strong support of $29. A pullback from this level would suggest that the pair could remain range-bound for longer.
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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