Bitcoin has posted significant gains since rebounding from critical support on Sunday. The bulls are now looking to thrust the popular digital coin above $70,000 to shift the advantage on their side.
Many crypto analysts are optimistic that if buyers sustain BTC’s price above $70,000, a new all-time high will be hit. Meanwhile, well-known trader Peter Brandt has said that the bull market is likely to top out 17 months from now. He believes that Bitcoin will reach $150,000 before experiencing a massive sell-off.
Another top coin expected to break above its current all-time high is Ethereum. Experts have said that ETH will rally when the recently approved Ethereum spot Exchange-Traded Funds (ETFs) start trading in the US market. CryptoQuant’s latest data shows that investors have withdrawn over 800,000 ETH tokens from centralized crypto exchanges over the past seven days as they anticipate a significant rally.
Will the buyers exert more buying pressure to push top cryptocurrencies above key resistance levels in the coming days? Well, let’s take a look at the price charts to find out.
Bitcoin Price Analysis
The sellers couldn’t pull BTC below the 20-day Exponential Moving Average of $65,213 on June 1st, as the buyers purchased the dip aggressively, pushing the coin to $69,934 at press time.
Bitcoin’s price is now above the ascending channel, signaling that the bulls are slowly overpowering the bears. If the bulls drive and keep BTC above $70,000, we might witness a rally to $73,764. If this level crumbles, Bitcoin could surge to $80,000, setting a new all-time high.
The bears, on the other hand, have to drag and sustain BTC below $65,213 to gain the upper hand. If they succeed, we anticipate a dip correction to the $59,706 support.
Ethereum Price Analysis
Ethereum bulls have maintained the coin above $3,721 for numerous days, suggesting that the level has now become vital support. The Relative Strength Index (62.33) and the 20-day Exponential Moving Average ($3,634) have been rising, signaling that the buyers are getting stronger.
The first hurdle the bulls need to clear is the $3,965 resistance level. After that, a rally to $4,138 could occur. From a negative point of view, if the bulls let $3,721 crack, the bears may shift the advantage to their favor, dragging Ethereum toward the 50-day Simple Moving Average of $3,284.
BNB Price Analysis
BNB has rallied 11% in the last 24 hours, becoming today’s top performer among the leading ten coins. Its current price ($663) means that it’s down 3% from its all-time high of $683.89, recorded three years ago.
The Binance Coin crossed above the $634.89 crucial resistance on June 2nd, indicating that the bears had given up on protecting the level. A bullish ascending pattern has now been formed, suggesting that there is more room for BNB to trend to the upside. The coin could grow above $683.89 and rally to $770 to set a new all-time.
However, if BNB crosses below the 20-day Exponential Moving Average of $599.20, the bullish setup will be invalidated, and the coin might plummet toward $534.82.
Solana Price Analysis
The bulls have finally won the battle at the $163.94 breakout level. They’ve pushed Solana to $167.39 as of this writing. The 174.11 resistance level is the next target. If the buyers overpower the seller there, a rally to $206.04 would seem likely. However, we don’t expect any further move to the upside from $206.04 due to the massive sellers’ presence at that level.
Meanwhile, if the sellers pull SOL below $163.94, the coin might touch the 50-day Simple Moving Average of $152.84 and even the $140.34 support.
Cardano Price Analysis
ADA bulls have kept the coin above the support line since June 2nd. As of this writing, Cardano is valued at $0.4603. If it crosses and stays above the 50-day Simple Moving Average of $0.4693, it may grow toward $0.50. Conversely, the bulls’ failure to defend the support line could lead to a fall toward $0.3597.
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