How Bitcoin’s $100K Run Fuels Altcoin Surge: ETH, SOL, XRP Price Patterns Turn Bullish

Bitcoin's recent rebound from the $93,000 range has energized the cryptocurrency market, with major altcoins like Ether, Solana, and Dogecoin maintaining support. As Bitcoin approaches the $100,000 mark, traders are closely monitoring its price action and analyzing select altcoin patterns for potential short-term gains.

Bitcoin's price remains the central focus, with the flagship cryptocurrency flirting with $100,000, attracting bullish sentiment. Institutional investment is robust, evidenced by BlackRock's Bitcoin ETF, which has experienced inflows for over two weeks, reaching $4.7 billion according to ETF Store President Nate Geraci.

Santiment data reveals that whale wallets (holding 10-10,000 BTC) have accumulated over 81,000 BTC in the past six weeks, further bolstering upward pressure. Bitfinex analysts suggest that Bitcoin must remain above $95,000 to confirm a trend reversal, with a potential breakout leading to $107,000.

How are major altcoins like Ether, Solana, and Chainlink aligning with this positive momentum?

Bitcoin (BTC): Bulls Target Psychological Resistance

Bitcoin is nearing $100,000, currently trading at $99,226. A decisive break above this level could pave the way to $100,000. The price rebounded from the 20-day EMA ($93,091) on May 6th, reinforcing bullish sentiment. Analysts caution that failure to maintain a price above $95,000 could trigger a correction towards the 550-day SMA ($87,441).

Bloomberg ETF analyst Eric Balchunas predicts that spot Bitcoin ETFs could surpass gold ETFs in assets under management within three to five years. This growing institutional confidence bodes well for Bitcoin's medium-term price outlook.

Bitcoin Eyes $100K as Altcoin Charts Signal Fresh Upside Momentum

ETH: Bulls Defend $1,900 as Network Fundamentals Improve

Ether is holding support, with bulls attempting to break above the current $1,914 level. A sustained close above this could propel the price to $2,111, encountering only minor resistance at $1,957.

The 20-day and 50-day moving averages are flattening, indicating indecision. A break below $1,537 could trigger selling pressure, with $1,368 representing the final line of defense. Immediate resistance lies at $1,873. Following the May 7th Petra upgrade, Ethereum's base layer fees have decreased significantly, potentially boosting user engagement. Noam Hurwitz, Head of Engineering at Alchemy, notes that blob fees on Ethereum are at their lowest levels ever, thanks to recent rollup support improvements.

While ETH's short-term price action is subdued, fundamentals are improving. DefiLlama data shows Ethereum maintaining its lead in total value locked (TVL) at $53.7 billion. Solana and Tron are gradually eroding its dominance through superior DApp usage and stablecoin activity, respectively.

A daily close above $1,950 is crucial for confirming a bullish reversal in ETH. Support remains firm at $1,800, with secondary demand zones at $1,537.

XRP: Trading within a Range, Whale Accumulation Observed

XRP's dip below the moving averages failed to ignite further selling, with the price holding above $2. The asset has traded within a range for the past three weeks, fluctuating between $2 and $2.60. The RSI is neutral, lacking strong momentum from either bulls or bears. However, on-chain data from Santiment indicates that large XRP wallets (holding over 10 million XRP) have accumulated over 80 million XRP since mid-April. This quiet accumulation could signal a shift in sentiment, particularly as regulatory uncertainty surrounding Ripple diminishes.

Technically, a break above $2.60 would confirm a bullish reversal, targeting $3.10 and potentially $3.47. Failure to hold the $2 level would be a warning sign, potentially leading to a retest of the $1.72 and $1.61 support cluster.

BNB: Network Strength Supports Bullish Setup Above $576

BNB is holding above $576, supported by increasing transactions on the BNB Chain. BscScan reports daily transactions around 3.7 million despite broader market uncertainty. BNB's deflationary tokenomics (quarterly burns), with the last burn in April removing over 2.1 million BNB from circulation, provide long-term price support.

Technically, BNB is trading at $615, with buyers aiming to break above $644, a level that capped the price in April. A successful break could lead to $680 and $728. However, traders should monitor on-chain flows. A significant drop in user activity or regulatory action affecting Binance could push BNB below $576, potentially reaching $520 or even $500, a strong support zone.

Solana (SOL): Bulls Hold Key Support, Targeting $200

Solana is experiencing a surge in user activity, particularly in decentralized trading and NFT marketplaces. Messari reports that Solana processed over 45 million non-vote transactions last week, significantly exceeding most layer-1 blockchains. NFT collections like Mad Lads and Tensorians remain popular on Magic Eden, maintaining Solana's relevance.

SOL is currently testing $153. A bullish breakout with strong volume could push the price towards $180 and $200. The broader picture shows a price channel between $110 and $260, with bulls maintaining control of the midpoint. SOL has repeatedly bounced off its 50-day SMA at $133, indicating a healthy demand zone. CryptoQuant analysts note declining SOL exchange inflows, suggesting that long-term holders are not selling—a bullish signal. Failure to surpass $153 in the coming sessions could lead to a retest of the 50-day SMA at $133.

Dogecoin (DOGE): Neutral Pattern with Breakout Potential

Dogecoin is trading near its moving averages, with neither bulls nor bears dominating. DOGE is consolidating between $0.16 and $0.21. Despite lacking the institutional support of BTC or ETH, DOGE benefits from high social volume and search trends, driven by retail traders and Elon Musk-related hype. According to LunarCrush, DOGE is among the top five most discussed cryptocurrencies on social media, even during periods of sideways movement.

$0.21 is a key level; a daily close above this would represent a breakout from a three-month triangle pattern, potentially driving DOGE to $0.25 and $0.28. Analysts report that 62% of current DOGE holders are in profit, reducing immediate selling pressure. However, a price drop below $0.16 could trigger a decline towards $0.14 and $0.12, the 200-day moving average. Memecoin volatility remains high, warranting caution for traders.

Cardano (ADA): Range-Bound Between $0.58 and $0.75

Cardano is currently trading between $0.58 and $0.75, but on-chain metrics are positive. Santiment data shows a 16% increase in wallet activity on the Cardano network over the past two weeks, driven by growth in DeFi platforms like Minswap and Indigo Protocol. Total value locked (TVL) on Cardano stands at $438 million, its highest since early 2023.

The price is confined to a tight range, with $0.75 acting as strong resistance. A break above this could initiate a new leg upward, targeting $0.83 and potentially $0.96. However, Cardano's 20-day and 50-day EMAs are flat, suggesting short-term consolidation. A price drop below $0.58 could lead to a test of $0.54 and $0.50. Monitoring DApp growth and TVL will be crucial for identifying any potential breakout.

SUI: Bullish Setup Targets $5

SUI has rebounded strongly from the 20-day EMA at $3.14 as developer confidence in the chain grows. Token Terminal shows a 23% increase in daily active developers and consistent smart contract deployments. This is bullish for SUI, as it's one of the most active layer-1 blockchains.

The price is currently hovering between $3.60 and $3.80, with the next target at $3.90. A break above this could lead to $4.25 and eventually $5. However, the 50-day SMA at $3.29 represents key support; a break below this could expose $2.86 and $2.61. SUI's expanding ecosystem participation and DApp support offer medium-term bullish prospects.

Chainlink (LINK): Decision Point at $13.99

LINK is currently trading at $14.64, lacking a strong rebound. The asset is near its 50-day SMA at $13.66, without a clear trend. Fundamentally, the network is gaining traction. Chainlink's latest update indicates that the total value secured by its oracles exceeds $20 billion, driven by DeFi projects on Ethereum, Arbitrum, and Avalanche.

LINK staking v0.2 is attracting more participants, with 26 million LINK staked. This is tightening supply and potentially increasing price support. If bulls can close above the 20-day EMA at $13.99, LINK could test $15.50 and then $17.20. Failure to hold $13.66 could trigger a deeper correction to $11.68. As long as Chainlink maintains on-chain activity growth and user engagement, the long-term trend remains bullish.

Avalanche (AVAX): Range-Bound with Bearish Risk

Avalanche is trading between $18.50 and $23.50, but network metrics are recovering. DefiLlama reports a TVL of $776 million, driven by recent liquidity incentives and the expansion of Avalanche subnets, now supporting over 100 independent blockchain instances. AVAX is below its 50-day SMA, but bulls are holding.

A break above $23.50 could lead to $28.78 and then $31.73. A break below $18.50 could target $15.27. The Avalanche Foundation's new GameFi program could boost demand in the coming months. Technically, AVAX is at a decision point; volume will be key in determining its direction.

Conclusion: Building Momentum, but Key Levels Must Hold

With Bitcoin nearing $100,000, bullish sentiment is growing among traders. Altcoins are benefiting from this positive momentum.

Whale accumulation, ETF inflows, and chart strength suggest further upside potential, but only if key support zones hold. Several altcoins are poised for short-term rallies, provided macroeconomic factors, such as the FOMC minutes, do not disrupt the current trend.