Bitcoin price inches closer to new all-time high as ETH, DOGE, PEPE and ATOM rally

Key Points:

• Bitcoin maintains recent gains, increasing the likelihood of retesting its all-time high of $109,588.
• BlackRock's spot Bitcoin ETF shows strong demand with 19 consecutive days of inflows.
• Several altcoins demonstrate strength, breaking out of established basing patterns.

Bitcoin (BTC) decisively surpassed the crucial $100,000 psychological level this week, signaling renewed bullish sentiment. Buyers are attempting to retain the 10% weekly gains over the weekend.

This Bitcoin rally is supported by significant inflows into BlackRock's spot Bitcoin exchange-traded fund (IBIT). Farside Investors' data reveals a 19-day inflow streak, with the latest week attracting $1.03 billion.

This rally isn't limited to Bitcoin; several altcoins have also risen. This has led some analysts to declare the start of an altseason, predicting substantial altcoin gains in the coming months. However, others remain unconvinced, citing the modest moves compared to previous all-time highs.

Could Bitcoin reach a new all-time high and sustain it? Let's examine the charts of cryptocurrencies potentially poised for near-term growth.

Bitcoin Price Prediction

Bitcoin is steadily approaching its all-time high of $109,588, suggesting bulls aren't rushing to take profits.

The rally has pushed the Relative Strength Index (RSI) into overbought territory, hinting at a potential near-term correction or consolidation. Any pullback is expected to find support between $100,000 and the 20-day exponential moving average ($96,626). A rebound from this support zone increases the chance of breaking above $109,588, potentially driving BTC/USDT towards $130,000.

Conversely, bears need to quickly push the price below the 20-day EMA to regain control. Success could lead to a decline to the 50-day simple moving average ($88,962).

While the price continues to rise, bears are likely to fiercely defend the $107,000 to $109,588 zone. A price reversal from this area might find support at the 20-day EMA. A bounce from this EMA would signal sustained bullish momentum, increasing the likelihood of a breakout above $109,588.

Sellers would need to push the price below $100,000 to weaken the positive momentum, potentially leading to a drop to $93,000 and then $83,000.

Ether Price Prediction

Ether (ETH) surged from $1,808 on May 8th to $2,600 on May 10th, demonstrating strong buying pressure.

This upward movement pushed the RSI into overbought territory, suggesting a minor pullback or consolidation is possible. Initial support levels are at $2,320 and then $2,111. A rebound from these levels could extend the rally to $2,850 and potentially $3,000.

A break below $2,111 would invalidate the optimistic outlook, potentially leading to a range-bound market between $1,754 and $2,600.

Bulls pushed the price above the $2,550 resistance but haven't fully maintained those higher levels. The fact that they haven't yielded significant ground suggests continued bullish conviction. A rebound from the current 20-day EMA level and a break above $2,609 could propel the rally to $3,000.

A more significant correction could begin if the price falls below the 20-day EMA, potentially leading to a drop towards the strong support at $2,111.

Dogecoin Price Prediction

Dogecoin (DOGE) surpassed the $0.21 resistance on May 10th, signaling a short-term trend change.

The rally is encountering selling pressure at $0.26, potentially leading to a retest of the $0.21 breakout level. A strong rebound from $0.21 would indicate a shift in sentiment, increasing the likelihood of a rally to $0.31.

To reverse the upward trend, buyers would need to push the price below the 20-day EMA ($0.19), potentially resulting in a range-bound market between $0.26 and $0.14.

The price has pulled back from $0.26, with immediate support at $0.22 and then $0.21. A rebound from this support zone would suggest positive sentiment, with buyers absorbing dips. Bulls would then attempt to resume the uptrend by pushing the price above $0.26.

Conversely, a break below $0.21 would indicate a loss of bullish momentum, potentially leading to a drop towards the 50-day SMA.

Pepe Price Prediction

Pepe (PEPE) rallied significantly from the 50-day SMA ($0.000008) and broke above the $0.000011 resistance on May 8th.

This rally has pushed the RSI into overbought territory, suggesting a possible pullback. The PEPE/USDT pair could drop to the $0.000011 breakout level. A rebound from this level would indicate strong bullish support, increasing the chances of a rally to $0.000017 and then $0.000020.

A break below the 20-day EMA ($0.000009) would negate this optimistic view.

The 4-hour chart shows bears defending the $0.000014 level, potentially pushing the price down to the 20-day EMA. A rebound from the 20-day EMA would allow bulls another attempt to push above $0.000014, potentially reaching $0.000017.

Conversely, a break and close below the 20-day EMA could lead to a drop to $0.000011. Buyers are likely to strongly defend this level, as a break below could extend the pullback to the 50-day SMA.

Cosmos Price Prediction

Cosmos (ATOM) broke out of a significant base by closing above $5.15 on May 10th, suggesting a potential trend change.

However, bears are unlikely to concede easily and will likely attempt to push the price below $5.15, potentially trapping aggressive bulls and pulling the price towards moving averages.

If buyers maintain the price above $5.15, the ATOM/USDT pair could rally to $6.50. Sellers might try to halt the move at $6.50, but a sustained bullish push could take the pair to $7.50.

The sharp rally has pushed the RSI into overbought territory on the 4-hour chart, suggesting a short-term correction or consolidation. Bulls need to defend the crucial $5.15 level to maintain positive momentum, potentially leading to a rally to $6.60.

A break and close below $5.15 could pull the price down to the 20-day EMA, a key level to watch, as a break below it could lead to a drop to $4.70.

Disclaimer: This article does not provide investment advice or recommendations. All investment and trading decisions involve risk, and readers should conduct thorough research before making any decisions.