The crypto market rally that started this month is fizzling out already.The cryptocurrency market started May with a flourish, with the total market capitalization showing signs of growth. However, this momentum proved fleeting, and the market has been unable to push past the $2.3 trillion mark.has yet to regain its footing. After a failed attempt to break through the $65,000 resistance level, Bitcoin is currently stuck in a sideways trading pattern.
If RNDR can hold above $9, it has the potential to break past the $10.7 resistance and climb toward its previous highs of $13.6, possibly even reaching $15-17. However, a daily close below $9 could trigger a drop to the $6 support level. TON reached a record high of $7.66 last month but saw a correction as investors cashed out, dropping the price to $4.8. May, however, brought renewed strength for TON, with the price currently facing resistance at $6.
Overall, TON's resilience in a bearish market is impressive. A breakout above $6 could unlock further gains, but investors should be mindful of potential pullbacks and downside risks if support levels are breached.Ethereum remains stuck in a falling triangle pattern, raising concerns about a potential price drop. The cryptocurrency found temporary support at $2,930 last week but failed to break above $3,200 and started this week with a decline.
The lack of positive news could keep the Ethereum market seller-dominated for a while. Ethereum faces a critical moment. Maintaining support above $2,900 is vital to avoid a deeper fall. Positive developments or a surprise ETF approval could trigger a breakout upwards, but the current outlook leans bearish unless key support levels hold.
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Source: Investingcom - 🏆 450. / 53 Read more »