Optimism among cryptocurrency investors will remain. In two weeks, the price of Bitcoin has grown by 16%. The latest upward impulse was associated with the news that the US authorities are trying to make a deal and agree with China on reducing mutual duties on goods. Following these events, the price of Bitcoin rose above $97,000 and is now trading around $96,500. According to CryptoQuant, the amount of BTC on crypto exchange balances has dropped to a three-year low. In addition, one of the company’s analysts believes that the current accumulation can lead to a strong price impulse. And he gave three scenarios. The optimistic one implies that the price can rise to $150,000-$175,000. The basic scenario suggests that the price will remain in a wide accumulation between the levels of $90,000 and $100,000. The pessimistic scenario is a continuation of the correction to $70,000-$85,000. But if we take into account that the BTC price has recently shown a correction, then the first two options are more likely.
Today, $2.5 billion worth of options contracts will be closed on the Derebit exchange. The BTC price has not reached the most expected levels of $75,000 or $100,000 per BTC. But most of those who expected growth to $95,000 and $96,000 by this date will earn on their contracts.
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Technical analysis of BTC and altcoins for 05/13/2025
What to expect from Bitcoin and other cryptocurrencies, we will analyze further…
Bitcoin (BTC) — in the previous forecast, it was expected that BTC would form an accumulation, and then continue to grow to the levels of $95,500, $96,000. At the moment, the $94,500-$95,000 zone will act as a strong support. If the price stays above it, the growth will continue to the third target of $98,000. But if the price rises above the level of $99,000, then the growth will continue to the level of $102,000. From a technical point of view, the MACD (Moving Average Convergence/Divergence) indicator turned towards growth. But the RSI (Relative Strength Index) indicator formed a divergence on the 4-hour timeframe. Therefore, one should be cautious about growth. From the strong levels of $99,000, $100,000 and $102,000, Bitcoin may turn around or start a correction. A reversal of the upward trend or the beginning of a decline in Bitcoin can only be expected if the price falls sharply and consolidates below the $94,500 level. As previously stated, according to the Derebit exchange, the next important dates will be May 30 and June 27. These dates are targeted by the largest open interest in options contracts in the amount of $5.2 billion and $7.9 billion, respectively. Most of the contracts are open towards $100,000. But there are those who expect a decline to $80,000 and below.
Ethereum (ETH) — Ether showed modest growth and could not even rise to the level of $1900. The price continues to accumulate near the level of $1800, which is strong and will act as a strong support. Therefore, while the price of Ethereum is above the level of $1800, we should expect continued growth to the levels of $2000 and $2100. It will be possible to revise the forecast downwards only in the event of a sharp fall and consolidation below the level of $1700. In case of growth, the nearest strong resistance is at the level of $1950, from which the price can bounce down. You also need to monitor the RSI indicator, which is above the value of 45. As long as it stays above this value, this also speaks in favor of continued growth. In the ETH/BTC pair, the price of Ether is in no hurry to grow. The coin is also in accumulation just above the level of 0.0185. In the pair to Bitcoin, this will be the nearest strong support, from which a rebound towards growth is also expected. But judging by the dynamics, investors are in no hurry to transfer their funds from Bitcoin to Ether.
Ripple (XRP) — the situation with the coin has hardly changed. The price is above the important support level of $2.1. But the coin has formed two peaks at $2.3 and $2.354. XRP is currently trading around $2.2. If the price fails to rise above $2.3, it will return to its support of $2.1. And if it is broken, the decline will accelerate. But if buyers can raise the price above the $2.3-$2.35 zone over the weekend, then, as expected, the growth will continue towards the target level of $2.5. The US Securities and Exchange Commission (SEC) has postponed the launch of an XRP ETF for now. But they may be approved in mid-July. News about the upcoming event will affect the price of XRP. If they are positive, the growth will continue. But a further postponement or ban on the ETF will be a trigger for the price to fall below the support of $2.1.
Solana (SOL) — as expected, the coin price continued to grow towards $163. It reached the first target level of $154, then rose to $156.7. But the RSI indicator showed divergence, so, as warned, a correction began, and the coin dropped to $140. From there, the price rebounded again in the direction of growth. At the moment, the moving average with a period of 100 acts as support. Now it is near the level of $143.7. It will be the nearest strong support if the coin continues the correction. As long as buyers hold the price above the level, we should expect continued growth towards $164 and, possibly, to $176. Especially if there is positive news about the US-China trade deal.
Binance Coin (BNB) — the coin has frozen in place and is forming an accumulation above the support level of $594. As long as the price is above it, the forecast does not change. We should expect continued growth towards $620 and $640. But if negative news appears and the price consolidates below $594, we will need to revise the forecast downwards to $575.
Trump (TRUMP) — The Trump token price has once again tested the $15 mark, as expected. But after the team behind the memcoin clarified that a six-figure token purchase is not required to attend a dinner with the president, the price quickly rolled back. Now the memcoin is again trading just above the $12 support level. If buyers hold the price higher, the memcoin will rise again to $13.5 or continue to grow. But for now, we should expect continued accumulation. And if the price falls and consolidates below $12, and if bad news appears, the memcoin will quickly fall to $10. The RSI indicator shows a slight convergence on the 1-hour timeframe. But for a stronger buy signal, the RSI should form a convergence on the 4-hour timeframe.
Monero (XMR) – according to ZachXBT, on April 28, there was a suspicious transfer of 3,520 BTC worth about $330.7 million to exchange for the anonymous coin XMR, through several exchangers. This caused a sharp jump in demand for XRM, and led to a 40% increase in its price in a short period. At one point, the price exceeded $378. The coin was last traded at this level in May 2021. After this takeoff, crypto exchanges began to delist the coin to avoid regulatory sanctions for supporting this anonymous coin. Trading volume decreased, and the price fell to $102. Despite this, the coin traded above the moving averages for a long time, which foreshadowed growth. The news became only a trigger and accelerated it. Now the RSI indicator is in the strongly overbought zone on the 1-day timeframe. Therefore, buying at current levels is a big risk. Perhaps the story is not over, and such transfers will be repeated. Especially if we take into account the large hacks for large amounts in recent times. But for conservative purchases, we should wait for a decline and another test of the $250 support level. The price dropped to it after a strong impulse. If the price stays above it, the growth will continue. You can also try to catch the growth of the coin if the price exceeds the resistance level of $288.
Disclaimer: This information is the author’s opinion only and may not coincide with the opinion of other analysts. Technical market analysis is not financial advice or a call to action. Technical analysis is not an individual investment recommendation. The financial instruments or transactions mentioned may not correspond to your investment profile and investment goals/expectations. It is solely your responsibility to determine whether a financial instrument/transaction/product suits your interests, goals and risk tolerance.
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