Price analysis 5/24: BTC, ETH, BNB, SOL, XRP, DOGE, TON, ADA, AVAX, SHIB

The spot Ether ETFs approval by the SEC has failed to start a rally in Ether and Bitcoin, but this could change after a few weeks.) or the crypto markets. Does this mean that the ETF decision was already priced in? It is difficult to judge by the initial reaction because Bitcoin’s price had also dipped just after the approval of the spot Bitcoin ETFs. However, the price turned around after a few days and skyrocketed to a new all-time high., according to Bloomberg ETF analyst Eric Balchunas.

The bears are expected to mount a strong defense in the zone between $3,730 and $4,100 because if this resistance is cleared, the pair could surge to $4,868.) turned down from the stiff overhead resistance of $635 on May 21, indicating that the bears are aggressively defending the level.The BNB/USDT pair has reached the moving averages, which is an important support to watch out for.

Buyers will have to clear the overhead hurdle at $0.57 to signal that the bears are losing their grip. That may start a rally to $0.67 and eventually to the formidable resistance at $0.74.The bears tried to pull the price below the moving averages on May 23, but the bulls held their ground. The bulls are again attempting to propel the DOGE/USDT pair above $0.17. If they can pull it off, the pair may start an up move to $0.21.

Alternatively, if the price turns up from the current level, the bulls will try to drive the pair above the resistance line. If they succeed, the pair may rally to $0.57 and then to $0.62.) turned down and fell below the breakout level of $40 on May 23, indicating that bears remain active at higher levels.A minor advantage for the bulls is that they have not allowed the price to slip below the moving averages.

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