比特币的 (比特币) massive drop in May 2021 is among its worst monthly performances, according to data from Bybt. The decline has divided the crypto community, with long-term investors considering the fall as a buying opportunity while short-term traders are dumping their positions out of fear.

Glassnode data suggests that long-term HODLers and miners are using the current weakness to accumulate Bitcoin. This transfer of Bitcoin from weaker hands to stronger hands is a positive sign because long-term investors are unlikely to panic and dump their holdings on every bear market correction.

每日加密货币市场表现. 资源: 硬币360

在四月份, 美国. personal consumption expenditures price index soared by 3.1% compared to a year ago, the biggest increase over 12 months since July 1992. This indicates that inflation is knocking on the doors. Several institutional investors may use the current correction to add Bitcoin to their portfolios as it is an uncorrelated asset and many consider it as a good hedge against inflation.

因此, a sharp plunge below $30,000 looks unlikely. 然而, that does not mean a new bull market will start in a hurry. The price is likely to remain volatile and range-bound before the start of a sustained uptrend.

Let’s analyze the charts of the top-10 cryptocurrencies to spot the critical support and resistance levels.

BTC / USDT

Bitcoin is in a downtrend. The downsloping moving averages and the relative strength index in negative territory suggest the bears have the upper hand. 然而, the bulls have other plans as they are trying to start a relief rally.

BTC / USDT日线图. 资源: 交易视图

The BTC/USDT pair has formed a symmetrical triangle pattern. If the bulls push and sustain the price above the resistance line of the triangle, the pair could start a move to the 50% 斐波那契回撤水平位于 $44,750 and then to the 50-day simple moving average ($50,161). Such a move will suggest that the downtrend could be over.

与此假设相反, if the price turns down from the resistance line of the triangle, 该对可能会在三角形内停留几天. A breakdown and close below the support line of the triangle will indicate the resumption of the downtrend.

The bears could then pull the price down to $30,000 and if this level cracks, the selling may intensify and the pair could drop to $28,000 接着 $20,000.

ETH / USDT

醚 (ETH) has rebounded sharply off the support line of the symmetrical triangle as traders attempt to put a higher low. The price could now challenge the resistance line of the triangle where the bears are likely to mount a stiff resistance.

ETH / USDT日线图. 资源: 交易视图

If the bulls push the price above the triangle, the ETH/USDT pair could rally to the 61.8% 回撤水平 $3,362.72. Such a move will suggest strong buying at lower levels. 突破 $3,362.72 may signal an end of the downtrend.

然而, 熊不太可能轻易放弃. The downsloping 20-day EMA ($2,756) and the RSI just below the midpoint suggest the sellers have a minor advantage.

If the price turns down from the resistance line of the triangle, the bears will try to sink the price below the support line of the triangle. 如果他们成功, the pair may retest the May 23 panic low at $1,728.74.

BNB / USDT

币安币 (BNB) slipped below the $306.61 support on May 29 but the bears could not sustain the selling pressure at lower levels. The altcoin quickly bounced back above $306.61 在5月 30, suggesting accumulation on dips.

BNB / USDT日线图. 资源: 交易视图

The bulls will now try to push the price to the 20-day EMA ($400), which is likely to act as a stiff resistance. 如果价格从20天均线下跌, it will suggest the sentiment remains negative and traders are selling on rallies.

The bears will then try to pull the price down to $211.70. 反之, if the bulls thrust the price above the 20-day EMA and the $428 抵抗性, the BNB/USDT pair could rally to the 50-day SMA ($512).

ADA / USDT

卡尔达诺 (有) dipped below the 50-day SMA ($1.51) 在5月 29 but the bears could not capitalize on the breakdown. The altcoin bounced back above the 50-day SMA on May 30, 表明较低水平的购买.

ADA / USDT日线图. 资源: 交易视图

连续20天的EMA ($1.61) and the RSI near the midpoint suggest a balance between supply and demand.

This balance will tilt in favor of the buyers if they can push and sustain the price above the downtrend line. The ADA/USDT pair could then rally to $1.94 如果超过这个水平, the next stop could be a retest of the all-time high at $2.47.

另一方面, 如果价格从下降趋势线下跌, the bears will once again try to break the $1.33 支持. 如果他们成功, 这对可能下降到 $1.24 接着 $1.

XRP / USDT

The bears pulled XRP below the $0.88 support on May 29 but they could not sustain the lower levels. The altcoin bounced back above $0.88 在5月 30, indicating strong buying by the bulls.

XRP / USDT日线图. 资源: 交易视图

If the buyers can propel the price above the 20-day EMA ($1.08), it will suggest that a short-term bottom has been made at $0.65. The XRP/USDT pair could then rally to the 50-day SMA ($1.32) and later to the downtrend line.

This positive view will invalidate if the price turns down from the 20-day EMA. 如果发生这种情况, the bears will try to pull the price back below $0.80. 如果他们能够做到这一点, the pair may challenge the $0.65 支持.

DOGE / USDT

The volatility in Dogecoin (狗狗) has reduced due to lack of aggressive buying or selling by traders. The moving averages have completed a bearish crossover and the RSI is in the negative territory, indicating the bears have the upper hand.

DOGE / USDT日线图. 资源: 交易视图

If the price turns down from the 20day EMA ($0.36), the bears will try to pull the price below the critical support at $0.21. 如果他们成功, the DOGE/USDT pair will complete a bearish head and shoulders pattern. The pair could then correct to $0.10 接着 $0.05.

反过来, if the bulls push the price above the 20-day EMA, the pair could rise to the overhead resistance at $0.47. A breakout of this resistance could result in a rally to $0.59.

点/美元

波尔卡圆点 (点) is trying to rebound off the support at $17.50. This is a positive sign as it shows that the bulls are not waiting for a dip to $15 买. The altcoin could rise to the $26.50 水平, which is likely to act as a stiff resistance.

DOT / USDT日线图. 资源: 交易视图

The downsloping moving averages and the RSI below 40 suggest the bears have the upper hand. 如果价格从 $26.50, the DOT/USDT pair could extend its stay inside the range for a few more days.

The next bullish move could start if the buyers push the price above $26.50. That could result in a rally to $31.28 and then to the 50-day SMA ($33). 或者, the next leg of the downtrend could start if the bears sink the price below $15.

UNI / USDT

Uniswap (UNI) is in a downtrend but the bulls are trying to form a higher low at $21.50. The price rebounded off this support on May 30 and the bulls will now try to push the price above the 20-day EMA ($28.27) and the overhead resistance at $30.

UNI / USDT每日图表. 资源: 交易视图

如果他们成功, it will suggest the downtrend could be over in the short term. The UNI/USDT pair may then rally to the 50-day SMA ($33.94). This level may act as stiff resistance but if the bulls can clear the hurdle, 这对可能上升到 $38.15.

The downsloping 20-day EMA suggests the bears have the upper hand but the RSI above 44 suggests the bulls are making a comeback.

This positive view will nullify if the price turns down from the 20-day EMA and breaks below $21.50. Such a move could result in a decline to the May 23 low at $13.04.

ICP/USDT

互联网电脑 (ICP) broke below the $120 至 $168 range on May 28 but the bears have not been able to pull the price below the immediate support at $103.71. The price is stuck between $103.71 和 $120 过去三天.

ICP/USDT daily chart. 资源: 交易视图

This tight-range trading indicates indecision among the bulls and the bears. If the uncertainty resolves to the downside, the ICP/USDT pair could challenge the May 19 low at $86.01. A break below this support could pull the price down to $60.

另一方面, 如果多头将价格推高并维持在上方 $120, it will suggest a lack of sellers at lower levels. The pair could then gradually move up to $168. 突破并在上方收盘 $168 could start a relief rally that may reach the 38.2% 斐波那契回撤水平位于 $243.08.

BCH / USDT

比特币现金 (生物安全信息交换所) is attempting to rise above $685.36. If bulls sustain the price above this overhead resistance, the altcoin could rise to the 20-day EMA ($821), which is likely to act as a stiff resistance.

BCH / USDT每日图表. 资源: 交易视图

如果价格从20天均线下跌, it will suggest the sentiment remains negative and traders are selling on every minor rally. 如果空头将价格跌破 $600, the BCH/USDT pair could fall to $468.13.

反之, if the bulls drive the price above the 20-day EMA, it will suggest that demand exceeds supply. That could start a rally to the 38.2% 斐波那契回撤水平位于 $919.60 然后到 50% 回撤水平 $1,059.07.

这里表达的观点和观点仅是作者的观点,不一定反映Cointelegraph的观点。. 每笔投资和交易动作都涉及风险. 您在做出决定时应该进行自己的研究.

市场数据由 HitBTC 交换.