Bitcoin surged past $100K this week, fueled by strong spot ETF inflows of over $1 billion.
\nWith Bitcoin nearing its all-time high, key support is now eyed around the $100,000 level.
\nEther experienced a dramatic price jump, breaking $2,600 and targeting $3,000.<\/p>\n
Bitcoin has decisively reclaimed ground above the psychologically crucial $100,000 mark this week, signaling a resurgence of bullish momentum in the cryptocurrency market.<\/p>\n
Supported by substantial inflows into spot Bitcoin ETFs, particularly BlackRock\u2019s IBIT fund, buyers are now attempting to consolidate these gains and potentially push towards new all-time highs.<\/p>\n
This renewed strength in the market leader is also igniting interest in several altcoins, prompting discussions about the potential onset of an \u201caltseason.\u201d<\/p>\n
The past week saw Bitcoin climb over 10%, with buyers successfully pushing the price through significant resistance levels.<\/p>\n
This rally has been notably backed by consistent institutional demand, exemplified by BlackRock\u2019s IBIT spot Bitcoin ETF extending its inflow streak to 19 days, attracting $1.03 billion in the latest trading week alone, according to Farside Investors data.<\/p>\n
Technically, Bitcoin is gradually inching towards its all-time high of $109,588, indicating a measured but confident advance by the bulls who seem reluctant to book profits prematurely.<\/p>\n
While this strong rally has pushed the Relative Strength Index (RSI) into overbought territory \u2013 often a precursor to a short-term correction or consolidation \u2013 any pullback is anticipated to find robust support between the $100,000 level and the 20-day exponential moving average (EMA), currently around $96,626.<\/p>\n
A successful rebound from this support zone would significantly increase the probability of a breakout above $109,588, potentially targeting $130,000.<\/p>\n
However, bears still have a window to regain control.<\/p>\n
A swift and decisive break below the 20-day EMA could trigger a sharper decline towards the 50-day simple moving average (SMA) near $88,962.<\/p>\n
On shorter timeframes, strong selling pressure is expected in the $107,000 to $109,588 zone.<\/p>\n
A successful defense of the 4-hour 20-EMA on any dip would signal continued bullish strength, while a break below $100,000 could open the door for a deeper correction towards $93,000 or even $83,000.<\/p>\n
Ether (ETH) experienced a dramatic surge, catapulting from $1,808 on May 8 to $2,600 by May 10, showcasing aggressive buying pressure.<\/p>\n
This rapid ascent also pushed its RSI into overbought territory, suggesting a potential near-term consolidation or minor pullback.<\/p>\n
Key support levels to watch on the downside are $2,320 and then $2,111.<\/p>\n
If Ether finds support at these levels and turns higher, the ETH\/USDT pair could extend its rally towards $2,850 and subsequently aim for the $3,000 mark.<\/p>\n
However, a break below the $2,111 support would invalidate the immediate bullish outlook, potentially leading to a period of range-bound trading between $1,754 and $2,600.<\/p>\n
On the 4-hour chart, bulls managed to push above the $2,550 resistance but struggled to sustain those higher levels.<\/p>\n
A positive sign is that buyers haven\u2019t conceded much ground, suggesting they anticipate further upside.<\/p>\n
A break above $2,609 could trigger the rally towards $3,000, while a drop below the 4-hour 20-EMA might initiate a deeper correction towards the $2,111 support.<\/p>\n
Dogecoin (DOGE) showed a significant short-term trend change by soaring above the $0.21 overhead resistance on May 10.<\/p>\n
The rally is currently facing selling pressure near $0.26, which could lead to a retest of the $0.21 breakout level.<\/p>\n
If DOGE rebounds strongly from $0.21, it would indicate a shift in market sentiment from \u201csell the rally\u201d to \u201cbuy the dip,\u201d increasing the likelihood of a continued advance towards $0.31.<\/p>\n
To negate this bullish momentum, sellers would need to pull the price back below the 20-day EMA (around $0.19).<\/p>\n
Such a move could trap DOGE within a larger trading range between $0.14 and $0.26 for an extended period.<\/p>\n
Immediate support on any pullback from $0.26 is seen at $0.22 and then $0.21.<\/p>\n
Meme coin Pepe (PEPE) staged a sharp rally from its 50-day SMA (around $0.000008), breaking above the $0.000011 overhead resistance on May 8.<\/p>\n
This aggressive move has also pushed its RSI into overbought territory, signaling a potential pullback. The PEPE\/USDT pair might drop to retest the $0.000011 breakout level.<\/p>\n
If this level holds as support, it would strengthen the bullish case for a rally towards $0.000017 and then $0.000020.<\/p>\n
Conversely, a break below the 20-day EMA (around $0.000009) would invalidate this optimistic outlook.<\/p>\n
On the 4-hour chart, bears are aggressively defending the $0.000014 level.<\/p>\n
A pullback to the 4-hour 20-EMA is a critical support to watch; a bounce could lead to another attempt to break $0.000014, while a failure could see PEPE slide back to $0.000011 or even the 50-SMA.<\/p>\n
Cosmos (ATOM) signaled a potential trend change by closing above the $5.15 resistance on May 10, breaking out of a large basing pattern.<\/p>\n
However, bears are expected to defend this level strongly.<\/p>\n
If they succeed in pushing the price back below $5.15, aggressive bulls could be trapped, leading to a pullback towards the moving averages.<\/p>\n
If buyers can sustain the price above $5.15, the ATOM\/USDT pair could gain significant momentum and rally towards $6.50.<\/p>\n
While sellers will likely attempt to halt the advance there, a successful break above $6.50 could open the path towards $7.50.<\/p>\n
The sharp rally has pushed the 4-hour RSI into overbought territory, suggesting a short-term correction or consolidation.<\/p>\n
Bulls must defend the $5.15 level to maintain momentum towards $6.60. A break below $5.15 could lead to a deeper correction towards the 20-EMA or even $4.70.<\/p>\n
While some analysts debate whether a full-blown \u201caltseason\u201d has truly begun, given the modest recovery of many altcoins from their significant drawdowns, the recent price action across several key cryptocurrencies suggests a renewed bullish appetite in the market.<\/p>\n
The post Crypto news today: Bitcoin nears all-time high; ETH, DOGE, PEPE, ATOM show bullish signs<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin surged past $100K this week, fueled by strong spot ETF inflows of over $1 billion. With Bitcoin nearing its all-time high, key support is now eyed around the $100,000 level. Ether experienced a dramatic price jump, breaking $2,600 and targeting $3,000. Bitcoin has decisively reclaimed ground above the psychologically crucial $100,000 mark this week, […]<\/p>\n","protected":false},"author":0,"featured_media":3330,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3329","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3329","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=3329"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3329\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/3330"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=3329"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=3329"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=3329"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}