Ethereum could increase LINK, UNI, and ARB, Last week, Ether gained almost 25%, although the approval of spot Ether ETFs by the US Securities and Exchange Commission (SEC) on May 23 did little to prolong the rally. One encouraging indicator is that the ETH bulls are not hastily selling off their holdings, as the regulatory permission did not trigger a sell-down. This indicates that the traders are taking it easy for the time being. rebounded this week, reaching levels close to $72,000, but the bulls could not maintain those gains. The price dropped below the $70,000 psychological mark, suggesting that the current sideways trend might persist.
Some altcoins are showing potential for short-term gains because of the upward shift in Bitcoin and Ether this week. Some alternative cryptocurrencies may find purchasing support if markets honor the Bitcoin and Ether support levels. Can Bitcoin and Ether continue to rise based on the technical indicators? Would customers come back to buy certain altcoins? Let’s take a look at the five most promising cryptocurrencies right now.
Bitcoin price analysis
Ethereum increase LINK UNI ARB, On May 24, Bitcoin surmounted the 20-day exponential moving average ($66,814), suggesting a shift in mood towards purchasing on dips and a more optimistic market outlook.
Upward price pressure towards $73,777, an overhead resistance level, is what the bulls will aim to overcome. Bears are predicted to defend this level strongly, so it’s vital to keep an eye on it. Price action that remains range-bound for an extended period could be indicated by a precipitous decline from $73,777 and a subsequent drop below the moving averages. However, the chances of a breakout would be enhanced if bulls maintain a strong position above $73,777. Possible targets for a BTC/USDT price surge include $80,000 and $84,000.
The price has broken out of the downtrend line, thanks to buyers, but they are having trouble keeping it there. This indicates that bears are still selling on rallies, suggesting they have not given up. Ethereum increase LINK UNI ARB, A drop to $66,000 and $64,600 could be in store if the price breaks below the downtrend line. A price rebound off the moving averages and a push above $70,000 are necessary for bulls to maintain their advantage. The pair has the potential to go up to $72,000 and then $73,777 if they accomplish that.
Ether price analysis
broke out over $3,730 on May 21 and has remained there ever since, thanks to bullish sentiment. The bulls are aiming to turn the $3,730 level into support, as this illustrates. The 20-day exponential moving average ($3,452) and overbought relative strength index (RSI) indicate that prices may rise. The $3,950 to $4,100 price range is where buyers will aim to make a move. If the bulls win out, the ETH/USDT pair might surge to $4,868. As a result, sellers should make every effort to protect this zone.
Price action below $3,730, pushed lower by bears, would indicate a possible downturn is underway. The 20-day exponential moving average (EMA) can be a solid support level if the pair falls below it. To restart the uptrend, the bulls will make one more attempt if the price bounces off the 20-day EMA.
Moving averages are rising upwards on the 4-hour chart, and the relative strength index is close to the overbought zone, suggesting that bulls are in control. To solidify their position, buyers will aim to push the price above $3,950. With any luck, they’ll be able to reach $4,100.
The bears probably have other ideas. The 20-EMA is a key support level that they intend to break. The short-term bulls might record profits if they do that. After a decline to $3,730, the pair might retest the 50-day moving average. If prices fall below this level, sellers will have the upper hand.
Chainlink price analysis
Ethereum increases LINK UNI ARB, The RSI is above 62 and the 20-day EMA ($15.96) is increasing, indicating bull control. Bulls could push LINK/USDT to $20.74 and $22 despite minor resistance around $18.68. If the price falls below $17.32, markets will reject the breakout. Ethereum increased LINK UNI ARB, The pair can go below the 20-day exponential moving average ($12.95) if it breaks the 50-day simple moving average ($14.95).
Bulls are struggling to sustain the price above $17.32, suggesting bears are active at higher levels. The price reached the 4-hour chart’s moving averages, a key indicator. If prices rebound from the moving averages, bulls will try to push the pair to $18.68 again. Price drops below moving averages imply bulls are losing control. After that, the pair might fall to $15.44, a critical support level.
If buyers don’t surrender bears more ground, UNI/USDT may break $11.81. May 26 saw the duo fall from this overhead barrier. Ethereum increased LINK UNI ARB, The pair might reach $13.34 and $15 if that happens. In contrast, bulls aggressively take profits when prices fall below $10. That might drop the pair to the 20-day exponential moving average ($9.05) and delay the uptrend.
After falling from $11.81, bears are protecting the level. The first cautious support is the 20-EMA on the downside. Rebounding strongly from this level suggests traders are still buying dips, indicating a bullish sentiment. That may increase the likelihood of a break over $11.81. If the price breaks below the 20-EMA, bulls are losing control.
Arbitrum price analysis
Ethereum increased LINK UNI ARB, Even though Arbitrum (ARB) tried, bears have kept the price below the $1.27 overhead resistance level for several days. The fact that the price has not fallen below the 20-day exponential moving average ($1.11) is, however, a small plus for the bulls. A break above the barrier is more likely as a result of that. If this occurs, the ARB/USDT pair is expected to gain momentum and soar toward $1.60, and then $1.75, in due time. In the short run, this bullish outlook will be rendered useless if the price suddenly drops below $1.10. The price could be pulled down to the $0.90 support level as a result of that.
The 4-hour chart shows the pair breaking clear of the 20-EMA and hitting $1.27 overhead resistance. Bears will likely defend this level, but if Bulls triumph, the pair might reach $1.40. The bears need a solid defense of $1.27 and a drop below the 20-EMA to stop any rise. The pair might fall below $1.10, a key support level, where buyers would likely come in if they do that.