By Chris Hollingworth 
Bitcoin is edging closer to the significant $100,000 milestone, prompting speculation on whether bearish investors will take the opportunity to sell at this level. Meanwhile, altcoins are showing strength by trading above their respective support levels, hinting at a potential altcoin rally on the horizon.
The recent tight consolidation of Bitcoin (BTC) broke in favor of the bulls as the price surpassed the $95,000 barrier on May 1. The focus now shifts towards the crucial psychological level of $100,000, where a battle between bullish and bearish forces is anticipated. Renowned trader Peter Brandt has expressed optimism, suggesting that Bitcoin could rally to the $125,000 to $150,000 range by August or September 2025 if it manages to reclaim its previous parabolic trajectory. However, Brandt also warned of a possible sharp correction of more than 50% following such a rally.
As Bitcoin approaches the $100,000 mark, onchain analytics firm Glassnode has highlighted that long-term holders (LTHs) might be tempted to take profits. Glassnode’s analysis indicates that LTHs typically consider booking profits when their margin reaches 350%, a level that could be reached around $99,900. Sustained buying pressure will be essential to counterbalance potential selling pressure and sustain the upward momentum.
The question arises: Could Bitcoin’s potential surge above $100,000 lead to a rally in select altcoins? To explore this further, let’s delve into the technical charts of the top 10 cryptocurrencies.
Bitcoin Price Prediction:
Bitcoin’s breakout above $95,000 suggests a favorable outlook for buyers, although bearish resistance may persist. Sellers may attempt to push the price below $95,000 to test the 20-day exponential moving average ($91,391). A strong bounce from this level would uphold the bullish sentiment, potentially paving the way for a move beyond $100,000 towards $107,000. Conversely, a downturn below the 20-day EMA could lead to a test of the 50-day simple moving average ($86,236), signaling a shift in short-term sentiment.
Ether Price Prediction:
Ether (ETH) found support at the 20-day EMA ($1,757) on April 30, indicating underlying demand. A positive bias is suggested by the upward-sloping 20-day EMA and the RSI in positive territory. Maintaining levels above $1,857 could propel the ETH/USDT pair towards the $2,111 resistance. In contrast, a reversal below the moving averages could trigger a decline towards $1,537.
XRP Price Prediction:
XRP has been trading above the moving averages, although the current bounce lacks conviction. The flat 20-day EMA ($2.17) and neutral RSI signal a lack of clear direction. A break above the resistance line could trigger a rally towards $3, while a downside break below the moving averages may lead to a test of the $2 support level, with further potential decline to $1.61.
BNB Price Prediction:
BNB is experiencing a battle between buyers and sellers around the moving averages. Failure to maintain levels below the moving averages could result in a decline towards $576 and $566 support levels. On the other hand, breaching the $620 resistance could pave the way for a move towards $644, serving as a critical hurdle for further upside.
As Bitcoin continues its upward trajectory towards $100,000, the broader cryptocurrency market remains poised for potential volatility and price movements in the coming days.
