Ethereum

Thing

Bitcoin

Bonk

Chainlink

Crypto Market Analysis: The cryptocurrency market witnessed no major change on the weekends as Bitcoin traded sluggishly around $670000, showcasing a modest intraday 0.25% growth. While the neutral candles on the daily chart project uncertainty among traders, it’s likely projecting price sustainability above the recently breached level.
If BTC’s price managed to hold above $65000 in the coming days, the buyers would gain better confirmation to develop the current relief rally into a steady recovery. Amid the potential rally, the buyers can find suitable entry opportunities for altcoins like Ethereum (ETH), Chainlink (LINK), and BONK.
Also Read: <a href="https://coingape.com/vitalik-buterin-names-one-thing-he-loves-about-ethereum-ecosystem/" rel="noopener noreferrer nofollow">Vitalik Buterin Names One Thing He Loves About Ethereum Ecosystem</a>
<h2 id="b-1-ethereum-eth-b">1) Ethereum (ETH)</h2>
<a href="https://coingape.com/markets/ethereum-price-analysis-eth-sees-end-of-correction-with-this-breakout/" rel="noopener noreferrer nofollow">Ethereum</a>, launched in 2015 by Vitalik Buterin, is a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (dApps).
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/o/orCz2A9o.png" alt="BITSTAMP:ETHUSD Chart " width="1946" height="937">
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 Ethereum (ETH)| Tradingview
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This week has been notably bullish for the ETH, showcasing a price from monthly support of $2878 to $311, registering a jump of 8.8%. Currently, the Ethereum coin shows a market cap of $374 Billion and a 24-hour trading volume of $8 Billion.
If the bullish momentum persists, the <a href="https://coingape.com/price-predictions/ethereum-classic-etc-price-prediction/" rel="noopener noreferrer nofollow">ETH price</a> could surge 4% before challenging the key resistance of the falling wedge pattern. A breakout beyond this channel is crucial for buyers to lead a sustainable run to $4090 high.
On a contrary note, the Ether coin could prolong its downward trend until the channel pattern is intact.
Also Read: <a href="https://coingape.com/analyst-predicts-ethereum-etf-to-trigger-major-eth-market-moves/" rel="noopener noreferrer nofollow">Analyst Predicts Ethereum ETF to Trigger Major ETH Market Moves</a>
<h2 id="b-2-chainlink-link-b">2) Chainlink (LINK)</h2>
<a href="https://coingape.com/blog/what-will-be-my-portfolio-if-chainlink-price-hits-50/" rel="noopener noreferrer nofollow">Chainlink</a> (LINK) is a decentralized oracle network that connects smart contracts with real-world data, APIs, and traditional payment systems, ensuring that smart contracts can interact with external data sources securely and reliably.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/u/u8RvYvoD.png" alt="BINANCE:LINKUSDT Chart " width="1946" height="937">
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 Chainlink (LINK)| Tradingview
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The LINK coin has been rising for five consecutive days where the price jumped from $12.8 to $16.64, accounting for a nearly 30% growth. With a market cap of $9.78 Billion, the Chainlink coin maintains its position as the fifteenth largest cryptocurrency.
This recent upswing breached the resistance trendline which carried a correction trend for the past two months and the last swing high of $16. While this breakout signals a major change in market dynamics, the <a href="https://coingape.com/price-predictions/chainlink-link-price-prediction/" rel="noopener noreferrer nofollow">LINK price</a> could consolidate above the flipped support of $16 to stabilize the aggressive rally.
If the uptrend continues, the $18.6, $20.7, and $22.8 stands as crucial resistance to watch.
Also Read: <a href="https://coingape.com/markets/chainlink-price-analysis-whale-accumulation-for-20/" rel="noopener noreferrer nofollow">Chainlink Price Analysis: Whale Accumulation Positions LINK for $20 Breakout</a>
<h2 id="b-3-bonk-b">3) Bonk&nbsp;</h2>
Bonk is a meme coin launched on the Solana blockchain. It aims to bring the fun and community-driven aspects of meme coins to the Solana ecosystem, similar to the role of Dogecoin in the broader cryptocurrency market.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/v/VflrpImz.png" alt="BINANCE:BONKUSDT Chart " width="1946" height="937">
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 Bonk| Tradingview
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An analysis of the daily time frame chart shows the <a href="https://coingape.com/price/bonk/" rel="noopener noreferrer nofollow">BONK price</a> is developing an inverted head and shoulder pattern with the neckline resistance at $0.00003. This week, the coin price went from $0.0000214 to $0.000027 registering a notable growth of 28.8%.
With sustained buying, the coin price is likely to break $0.00003 signaling the end of prior correction. The <a href="https://coingape.com/blog/floki-vs-bonk-buy-sell-or-hodl/" rel="noopener noreferrer nofollow">Bonk</a> price currently holds a market cap of $1.76 Billion, while the trading volume since yesterday surged $238 Million to reach $692 Million.
A successful breakout will bolster buyers to lead a rally to $0.0000478.
Also Read: <a href="https://coingape.com/markets/bonk-price-prediction-reversal-pattern-signals-potential-of-22/" rel="noopener noreferrer nofollow">Bonk Price Prediction: Bullish Reversal Pattern Signals Upside Potential of 22%</a>
<h2 id="span-style-font-weight-400-key-takeaway-span">Key Takeaway</h2>
The cryptocurrency market is currently witnessing a post-recovery consolidation— a period known as stabilizing the aggressive buying momentum. The Bitcoin price consolidation around $67000 has limited recovery movement in altcoins on weekends. If the BTC price manages to hold its ground above $35000, the market will witness a renewed recovery momentum.&nbsp;
The post <a href="https://coingape.com/markets/crypto-market-analysis-19-5-altcoin-recovery-btc-stabilizes-67k/" rel="noopener noreferrer nofollow">Crypto Market Analysis 19/5: Altcoins Recovery Stalls as BTC Stabilizes at $67k</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Market Analysis 19/5: Altcoins Recovery Stalls as BTC Stabilizes at $67k

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