Rally

Bitcoin

Crypto Price Prediction: The <a href="https://coingape.com/price-predictions/bitcoin-btc-price-prediction/">Bitcoin price</a> upswing above $64,000 on May 5th has maintained the upward trajectory for the altcoin market. So far May month has shown strong bullish signs for the cryptocurrency market, with a revived interest in BTC ETFs playing a significant role in this trend.&nbsp; 
In a recent update from SpotOnChain, Bitcoin ETFs saw a substantial net inflow of $217 million as of May 6, 2024, with no outflows for two consecutive days. The Fidelity ETF (FBTC) recorded the day’s highest inflow at $99.2 million, while the Grayscale ETF (GBTC) experienced an inflow of $3.937 Million despite a decrease in volume. This trend suggests strong investor confidence and a potential bullish outlook on Bitcoin as an investment vehicle 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> <a href="https://twitter.com/hashtag/ETF?src=hash&amp;ref_src=twsrc%5Etfw">#ETF</a> Net Inflow May 6, 2024: +$217M! 
 • The net inflow remains positive, with no <a href="https://twitter.com/hashtag/BitcoinETFs?src=hash&amp;ref_src=twsrc%5Etfw">#BitcoinETFs</a> experiencing an outflow for 2 consecutive trading days. 
 • <a href="https://twitter.com/hashtag/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw">#Grayscale</a> ETF <a href="https://twitter.com/search?q=%24GBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$GBTC</a> experienced another single-day inflow, although the volume has decreased. 
 • <a href="https://twitter.com/hashtag/Fidelity?src=hash&amp;ref_src=twsrc%5Etfw">#Fidelity</a> ETF… <a href="https://t.co/rLnC998tC4">pic.twitter.com/rLnC998tC4</a> 
 — Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1787705395558981892?ref_src=twsrc%5Etfw">May 7, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
With several analysts suggesting the start of a post-halving rally, investors might find promising bullish opportunities in leading altcoins such as Ethereum (ETH), Solana (SOL), and XRP. 
Also Read: <a href="https://coingape.com/markets/bitcoin-price-analysis-end-of-correction-pattern-btc-rally-73k-may/">Bitcoin Price Analysis: End-of-Correction Pattern Hints $BTC Rally to $73k in May </a> 
<h2 id="b-1-ethereum-eth-b">1)Ethereum (ETH)</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/i/IU20IzwJ.png" alt="BITSTAMP:BTCUSD Chart " width="1946" height="893">
 <figcaption class="wp-caption-text">
 Ethereum (ETH)| Tradingview
 </figcaption>
</figure> 
<a href="https://coingape.com/ethereum-remains-the-basket-case-this-bull-cycle-will-eth-price-dip-further/">Ethereum</a> stands as the second-largest cryptocurrency by market cap, distinguished by its robust smart contract functionality which enables decentralized applications (dApps) to be built on its platform. 
Over the past three, the <a href="https://coingape.com/price-predictions/ethereum-eth-price-prediction/">ETH price</a> has been actively consolidating two horizontal levels for $3300 and $2850. The coin price rebounded thrice from each of the mentioned levels creating a narrow range indicating a lack of dominance from buyers and sellers. 
A recent reversal from the range’s lower boundary has surged the Ethereum price 8% to currently trade at $3101. The data from Coinmarketcap shows Ethereum at a market cap of $372.2, while the 24-hour trading volume jumped 40% to $13.2 Billion. 
For buyers to regain control over this asset, the <a href="https://coingape.com/ethereum-client-geth-releases-advanced-live-tracer-tool/">Ether</a> price must overcome the overhead resistance and downsloping trendline for a falling wedge pattern. For ETH holders, the $3730 and $4100 stands as firm resistance while the $2870 and $2700 provide strong support. 
Also Read: <a href="https://coingape.com/markets/ethereum-price-forecast-as-defi-tvl-jumps-to-57b-eth-poised-for-4000-this-week/">Ethereum Price Forecast As DeFi TVL Jumps To $57B, ETH Poised For $4,000 This Week?</a> 
<h2 id="b-2-solana-sol-b">2) Solana (SOL)</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/q/QimXpsi0.png" alt="BINANCE:SOLUSDT Chart " width="1946" height="893">
 <figcaption class="wp-caption-text">
 Solana (SOL)| Tradingview
 </figcaption>
</figure> 
<a href="https://coingape.com/markets/solana-price-prediction-can-sol-hit-200-by-end-of-may-with-strong-market-recovery/">Solana</a> is recognized for its high-speed blockchain, which supports a wide array of decentralized applications and crypto projects with significantly lower transaction costs and faster processing times compared to many other blockchains. 
<a href="https://coingape.com/solana-price-soars-5-despite-380m-sol-transfer-coinbase-what-next/">SOL</a>, the native cryptocurrency of the Solana ecosystem, has witnessed a buying spree for the past seven which propelled its value from&nbsp; $118.5 to $156. This 32% upswing in the daily chart reveals the formation of a bullish reversal pattern called a double bottom. 
The Solana coin currently stands as 5th largest cryptocurrency with a market cap of $3.013 Billion. 
With sustained buying, the <a href="https://coingape.com/price-predictions/solana-sol-price-prediction/">SOL price</a> is poised to break the overhead resistance at $160, providing buyers with suitable support to chase the $210 target. 
Also Read: <a href="https://coingape.com/trending/why-solana-sol-weekly-gain-might-sustain-despite-pressure/">Why Solana (SOL) Weekly Gain Might Sustain Despite Pressure</a> 
<h2 id="b-3-xrp-b">3) XRP</h2> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/f/fxX3DG1H.png" alt="BINANCE:XRPUSDT Chart Image by sahilmahadik07" width="1946" height="893">
 <figcaption class="wp-caption-text">
 XRP| Tradingview
 </figcaption>
</figure> 
XRP, created by <a href="https://coingape.com/trending/ripple-xrp-bulls-eye-1-price-prospects-and-resistance/">Ripple</a>, is designed primarily for rapid and low-cost international money transfers, serving as a bridge currency in cross-border transactions. 
As of the latest update, <a href="https://coingape.com/xrp-lawsuit-sec-files-final-reply-in-remedies-phase/">XRP</a> is trading at $0.538, with yesterday’s candle showing a strong rejection, suggesting a prevailing sentiment of selling during bullish rebounds 
By the press time, the <a href="https://coingape.com/markets/xrp-price-prediction/">XRP price</a> traded at $0.538, and overhead supply evidenced by the long rejection from yesterday’s candle indicates the market sentiment persists at selling on a bullish bounce. 
The market cap of XRP currently stands at $29.7 billion, while the trading volume wavers at $1.78 Billion, projecting a 116% gain since yesterday. 
A potential breakout above the overhead trendline would serve as a crucial indicator of a trend reversal, paving the way for XRP to potentially reclaim levels at $0.643 and $0.748. 
<h2 id="span-style-font-weight-400-key-takeaway-span">Key Takeaway</h2> 
The recent recovery rally in Bitcoin shifted sideways last weekend, stabilizing above $63,000. This consolidation followed an earlier surge in the week, where BTC climbed 14.4% from $56,500. This lateral trend could rejuvenate buyers, potentially restoring bullish momentum and driving the BTC price above $70,000. Reclaiming this psychological level could spark significant buying interest in altcoins. 
The post <a href="https://coingape.com/markets/crypto-price-prediction-7-5-altcoins-to-market-post-halving-rally/">Crypto Price Prediction 7/5: Altcoins to Focus If Market Enters Post-Halving Rally</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Crypto Price Prediction 7/5: Altcoins to Focus If Market Enters Post-Halving Rally

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