Analyzing Prices on 5/10: Bitcoin, Ethereum, Binance Coin, Solana, Ripple, TON, Dogecoin, Cardano, Avalanche, Shiba Inu

Bitcoin (
BTC
) is currently experiencing a battle between bears and bulls as it searches for direction. Glassnode founders Jan Happel and Yana Allemann believe that the price will ultimately go up, stating in a recent post that they expect Bitcoin to “BLOW higher.” Despite the uncertainty, whales have been making significant purchases, with market intelligence firm Santiment reporting that whale wallets holding between 1,000 and 10,000 Bitcoin acquired approximately $941 million worth of Bitcoin in a 24-hour period.


Bitcoin’s long-term investors don’t seem to be too concerned about the current range-bound price action. In a recent interview with journalist Mike Solana, Twitter co-founder Jack Dorsey expressed his belief that Bitcoin could skyrocket to at least $1 million by 2030 and even surpass that level in the future.
The question now is whether buyers will continue to defend support levels in Bitcoin and altcoins, or if the bears will prevail. Let’s analyze the charts of the top 10 cryptocurrencies to find out.
Bitcoin Price Analysis:
Bitcoin bulls are attempting to keep the price above the psychological support at $60,000, but they are facing selling pressure at the 20-day exponential moving average ($62,959).


The downward sloping moving averages and the negative relative strength index (RSI) suggest that the bears currently have the upper hand. If the support at $59,650 is broken, the BTC/USDT pair may drop to the 61.8% Fibonacci retracement level at $54,298.
This bearish view will be invalidated if the price turns upwards and breaks above the 50-day simple moving average ($65,620). In that case, the pair could accelerate towards the critical overhead resistance at $73,777.
Ether Price Analysis:
Ether (
ETH
) has been trading within the range of the 20-day exponential moving average ($3,087) and the horizontal support at $2,850 for several days.


The downward sloping moving averages and the negative RSI indicate an advantage for sellers. A break and close below $2,850 would signal a continuation of the downtrend, with the ETH/USDT pair potentially dropping to the support line of the channel.
The zone between the 20-day EMA and the resistance line is likely to act as a crucial resistance. Buyers will need to push the price above this zone to suggest a potential trend change, with the pair possibly climbing to $3,350.
BNB Price Analysis:
BNB (
BNB
) rebounded off the moving averages on May 8, but the momentum was lacking, indicating hesitation to buy at higher levels.


If buyers manage to push the price above the downtrend line, it would increase the likelihood of a rally to the overhead resistance at $635. This level is important to watch because a break above it could open the doors for a rally to $692.
On the other hand, bears will try to pull the price below the moving averages. If they succeed, the BNB/USDT pair may drop to $536 and then to the solid support at $495.
Solana Price Analysis:
Solana (
SOL
) fell below the 20-day EMA ($146) on May 8, but the bears couldn’t sustain the lower levels.


Strong buying pressure from bulls pushed the price back above the 20-day EMA on May 9, but the SOL/USDT pair failed to reach the $162 resistance. The flat 20-day EMA and the RSI near the midpoint don’t give a clear advantage to either bulls or bears.
If the price turns up from the current level and breaks above $162, it would suggest that the bulls are back in control. The pair may then rise to $185 and later to $205. On the downside, the critical support zone to watch is between $126 and $116.
XRP Price Analysis:
XRP (
XRP
) has been trading between $0.46 and $0.57, indicating a balance between supply and demand.


The price slipped below the 20-day EMA ($0.52) on May 7, indicating that bears are trying to take control. Sellers will aim to pull the price down to the crucial support at $0.46, where buyers are expected to defend the level. A strong bounce off $0.46 could extend the range-bound trading for a while longer.
To suggest that the correction may be coming to an end, bulls will need to push and maintain the price above $0.57.
Toncoin Price Analysis:
Toncoin (TON) rebounded off the moving averages on May 8 and cleared the 61.8% Fibonacci retracement level at $6.49 on May 10, signaling a potential end to the correction.


The 20-day EMA ($5.81) has started to turn upwards gradually, and the RSI has entered positive territory, indicating that bulls are in control. The TON/USDT pair will now attempt a rally to $7.67.
However, if the price sharply reverses from the current level or the overhead resistance at $7.67, it would suggest that bears are still active at higher levels. This could result in a range between $4.72 and $7.67.
Dogecoin Price Analysis:
Bulls are trying to prevent Dogecoin (
DOGE
) from retesting the neckline of the large head-and-shoulders pattern.


Buyers will need to push the price above the 20-day EMA ($0.15) to clear the path for a rally to the 50-day SMA ($0.17). This level is crucial for bears to defend, as a break above it could trigger a rally to $0.21.
On the other hand, if the price turns down from the current level or the 50-day SMA, it would suggest that the DOGE/USDT pair may spend more time in the range. The trend is likely to turn bearish if the price drops below $0.12.
Cardano Price Analysis:
Cardano (
ADA
) remains stuck between the 20-day EMA ($0.47) and the support line, indicating uncertainty among both bulls and bears.


The downward sloping 20-day EMA and the negative RSI indicate an advantage for bears. If the price breaks below the support line, the ADA/USDT pair may move downwards towards $0.35.
On the other hand, if the price turns up and breaks above the 20-day EMA, it would signal a comeback by the bulls. The pair could rise to the 50-day SMA ($0.53) and later to the overhead resistance at $0.57. This zone is likely to see strong selling pressure from bears.
Avalanche Price Analysis:
Avalanche (
AVAX
) has been trading between $29 and $40, indicating a balance between supply and demand.


In a range, traders typically buy the dips to support and sell near resistance. The price action within the range can be random and volatile. If the price breaks above the 20-day EMA ($36), the AVAX/USDT pair could reach $40.
Conversely, if the price turns down from the 20-day EMA, it would suggest that higher levels continue to attract sellers. The pair may drop to the solid support at $29. The next trending move is likely to start above $40 or below $29.
Shiba Inu Price Analysis:
Shiba Inu (
SHIB
) is still trading between the 20-day EMA ($0.000024) and the support line of the symmetrical triangle pattern.


It is difficult to predict the direction of a breakout from a triangle with certainty. Therefore, it is better to wait for the price to escape the triangle before taking a directional view. A plunge below the triangle would signal that bears have taken control, with the SHIB/USDT pair potentially dropping to the 78.6% Fibonacci retracement level at $0.000017.
On the other hand, if the price turns up and breaks above the 20-day EMA, it would suggest buying interest at lower levels. The pair may rally to the resistance line of the triangle.
Please note that this article does not provide investment advice or recommendations. All investment and trading decisions involve risk, and readers should conduct their own research before making a decision.