Source

Bitcoin

Toncoin

Rekt

<div class="fintechs">
 <div class="wp-block-image">
  <figure class="aligncenter size-full"><img decoding="async" width="640" height="427" src="https://cdn.thebittimes.com/images/2024/05/28/756c67ab245ad5ffb08f758851963a2d.webp" alt="Bitcoin Market Image" class="wp-image-42980" srcset="https://cdn.thebittimes.com/images/2024/05/28/8e605d7e504f856d7ecac35b2b161a02.webp 750w, https://cdn.thebittimes.com/images/2024/05/28/8e605d7e504f856d7ecac35b2b161a02.webp 300w" sizes="(max-width: 640px) 100vw, 640px" data-recalc-dims="1">
  </figure>
 </div>
 <p class="">The Bitcoin market and Ether market are attracting buyers at higher levels, indicating that their respective overhead resistance levels are weakening and that new all-time highs may be approaching.</p>
 <p class="">Bitcoin surpassed the $70,000 psychological barrier on 27 May following a three-day struggle, suggesting that the bulls are still in control. However, some analysts remain sceptical about an imminent breakout. Analyst Rekt Capital pointed out that the post-halving reaccumulation phase generally lasts about 160 days, implying that Bitcoin might trade sideways for a few more weeks.</p>
 <p class="">With Bitcoin’s lacklustre performance and the approval of spot Ether exchange-traded funds (ETFs), attention has shifted to Ether. Several analysts are optimistic about Ether, expecting it to rally. DeFiance Capital founder Arthur Cheong mentioned on X that Ether could surge to $4,500 ahead of the launch of the spot ETFs.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/58e97c5f71466173c7a556a6f3ddd394.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>Daily cryptocurrency market performance. Source:&nbsp;</em><em>Coin360</em>
   </figcaption>
  </figure>
 </div>
 <p class="">It is not only Ether; analysts are also&nbsp;bullish on altcoins. Analysts believe that similar to previous cycles, after the rally in Bitcoin and Ether, it is time for altcoins to play catch up.</p>
 <p class="">Could Bitcoin and Ether lead the cryptocurrency markets higher? Let’s analyze the charts to find out.</p>
 <h2 class="wp-block-heading" id="sp-500-index-spx-market-analysis">S&amp;P 500 Index (SPX) Market Analysis</h2>
 <p class="">The S&amp;P 500 Index has been holding above the breakout level of 5,265 since May 15, indicating that the bulls are trying to flip the level into support.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/fbcbdfc22d89b5e674b7cc66d3d33061.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>SPX daily chart. Source:&nbsp;</em><em>TradingView</em>
   </figcaption>
  </figure>
 </div>
 <p class="">The upsloping 20-day exponential moving average (5,233) and the relative strength index (RSI) in the positive territory indicate that the bulls have the edge. If buyers overcome the barrier at 5,350, the index could start its journey to 5,500.</p>
 <p class="">Contrary to this assumption, if the price turns down and breaks below the 50-day simple moving average (5,172), it will suggest that the markets have rejected the breakout. That could sink the index to the 5,000 to 4,950 support zone.</p>
 <h2 class="wp-block-heading" id="u-s-dollar-index-dxy-market-analysis">U.S. Dollar Index (DXY) Market Analysis</h2>
 <p class="">The U.S. Dollar Index attempted a recovery last week, which stalled at the moving averages. This suggests that the bears remain sellers on rallies.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/ffe443e1a5261ccdac8bf68ca162990d.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>DXY daily chart. Source:&nbsp;</em><em>TradingView</em>
   </figcaption>
  </figure>
 </div>
 <p class="">The bears will try to sink the price to the support line of the ascending channel. This is a crucial support to watch out for because a break below it may start a new downtrend. The index may drop to 103.17 and later to 102.35.</p>
 <p class="">Conversely, if the price rises from the current level or the support line and breaks above the moving averages, it will signal that the index may remain inside the channel for some more time. The index will attempt to rise to 105.75 and then to 106.50.</p>
 <h2 class="wp-block-heading" id="bitcoin-btc-market-analysis">Bitcoin (BTC) Market Analysis</h2>
 <p class="">Bitcoin bounced off the 20-day EMA ($66,798) on May 24 and has risen above the $70,000 level on May 27, indicating that the bulls are trying to strengthen their hold.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/e5d68d760d0375c9629167e716dfdca0.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>BTC/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
   </figcaption>
  </figure>
 </div>
 <p class="">The BTC/USDT pair will likely rally to the formidable overhead resistance at $73,777. The bears are expected to defend this level with all their might because if they fail in their endeavour, the pair could surge to $80,000 and later to $84,000.</p>
 <p class="">On the other hand, if the price turns down sharply from the overhead resistance and breaks below the moving averages, it will signal that the pair may remain stuck inside the $59,600 to $73,777 range for a while longer.</p>
 <h2 class="wp-block-heading" id="ether-eth-market-analysis">Ether (ETH) Market Analysis</h2>
 <p class="">Ether turned up from $3,730 on May 26, suggesting that the bulls have flipped the level into support.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/1b2fd9f0092df50fe05d011592b29552.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>ETH/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
   </figcaption>
  </figure>
 </div>
 <p class="">The bulls are trying to maintain the price above $3,950. If they manage to do that, the ETH/USDT pair could rally to the stiff overhead resistance of $4,100. If bulls clear this barrier, the pair may pick up momentum and surge toward $4,868.</p>
 <p class="">Bears must drag the price back below the breakout level of $3,730 if they want to prevent the upside. That could start a decline to the 20-day EMA ($3,455), which is likely to act as a strong support. If the price rebounds off this level, the bulls will again try to propel the pair to $4,100.</p>
 <h2 class="wp-block-heading" id="bnb-price-analysis">BNB Price Analysis</h2>
 <p class="">BNB has stayed above the moving averages for the past few days, but the bulls have failed to challenge the $635 resistance.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/5b04577c7c3e4a508c398c36812dfe07.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>BNB/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
   </figcaption>
  </figure>
 </div>
 <p class="">The gradual rise in the 20-day EMA ($595) and the RSI above 58 suggest that the bulls have a slight edge. The bulls will try to drive the BNB/USDT pair above $635. If they can pull it off, the pair may start the next leg of the uptrend toward $692.</p>
 <p class="">On the contrary, if the price turns down from the overhead resistance and dives below the uptrend line, it will signal that the pair may extend its stay inside the range. The pair may then drop to $536 and subsequently to $495.</p>
 <h2 class="wp-block-heading" id="solana-sol-price-analysis">Solana (SOL) Price Analysis</h2>
 <p class="">Solana&nbsp;has dropped to the breakout level of $162, indicating a lack of demand at higher levels.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/2cf20a9bb53562f77ff01359dda24a5b.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>SOL/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
   </figcaption>
  </figure>
 </div>
 <p class="">The 20-day EMA ($164) is flattening out, and the RSI is just above the midpoint, signalling a minor advantage to the bulls. If the bounce sustains, the bulls will try to drive the SOL/USDT pair to $189 and, after that, to the overhead resistance at $205.</p>
 <p class="">On the other hand, if the price turns down and breaks below $162, it will signal that the bulls have given up. That could move downward to $140 and later to $126. The bulls are expected to defend this level with vigour.</p>
 <h2 class="wp-block-heading" id="xrp-price-analysis">XRP Price Analysis</h2>
 <p class="">XRP&nbsp;started a bounce off the 20-day EMA ($0.52) on May 24, but they could not build upon this strength. This shows that the recovery attempts are being sold into.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/9702bb67add96571fcca539c5f80b3ac.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>XRP/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
   </figcaption>
  </figure>
 </div>
 <p class="">The bears will try to strengthen their position by pulling the price below the moving averages. The XRP/USDT pair could slide to the support line if they do that. The bulls are likely to buy the dip to this level.</p>
 <p class="">If the price turns up from the current level or the support line and breaks above $0.57, it will complete an ascending triangle pattern. The pair could then rally to the pattern target of $0.68.</p>
 <h2 class="wp-block-heading" id="toncoin-ton-price-analysis">Toncoin (TON) Price Analysis</h2>
 <p class="">Toncoin (TON) has been trading near the 20-day EMA ($6.36) for the past few days, signalling a balance between supply and demand.</p>
 <div class="wp-block-image">
  <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/63165e759cdfc79656dadbed5f080c62.webp" alt="" data-recalc-dims="1">
   <figcaption class="wp-element-caption"><em>TON/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
   </figcaption>
  </figure>
 </div>
 <p class="">If the price rises and breaks above $6.75, it will tilt the short-term advantage in favour of the bulls. The TON/USDT pair will then attempt a rally to $7.67, where the bears are expected to mount a strong defence.</p>
 <p class="">On the downside, a break and close below $6 will suggest that the bears have the upper hand. That could start a decline to $5.50 and, after that, to $4.72. A strong bounce off this level will suggest that the pair may remain inside the range for some more days.</p>
 <h2 class="wp-block-heading" id="dogecoin-doge-price-analysis">Dogecoin (DOGE) Price Analysis</h2>
 <p class="">Dogecoin&nbsp;<a target="_blank" rel="noreferrer noopener">has been oscillating near the $0.17 level for the past few days, indicating a tussle between the bulls and the bears.</a></p><a target="_blank" rel="noreferrer noopener">
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/fca2b8767d6411b4295f4e5648acb98a.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em>DOGE/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
    </figcaption>
   </figure>
  </div> <p class="">The upsloping 20-day EMA ($0.16) and the RSI above 58 suggest that the path of least resistance is to the upside. If buyers sustain the price above $0.17, the possibility of a break above $0.18 increases. The DOGE/USDT pair may then surge to $0.21.</p> <p class="">Alternatively, if the price turns around and plummets below the moving averages, it will signal that the bears continue to sell on every minor rally. The pair may then slide to $0.14 and remain inside the range for more time.</p> <h2 class="wp-block-heading" id="cardano-ada-price-analysis">Cardano (ADA) Price Analysis</h2> <p class="">The price action of the past few days has formed a symmetrical triangle pattern in Cardano, signalling a balance between supply and demand.</p>
  <div class="wp-block-image">
   <figure class="aligncenter"><img decoding="async" src="https://cdn.thebittimes.com/images/2024/05/28/f591a84f5eab9b9e0d0aa30efc47dac4.webp" alt="" data-recalc-dims="1">
    <figcaption class="wp-element-caption"><em>ADA/USDT daily chart. Source:&nbsp;</em><em>TradingView</em>
    </figcaption>
   </figure>
  </div> <p class="">The bears will try to sink the price below the support line. If they succeed, it will signal the start of the next leg of the downtrend. The ADA/USDT pair may plummet toward the next support at $0.35.</p> <p class="">Contrarily, if the price turns up from the current level or the support line, it will suggest that the pair may remain inside the triangle for some time. A break and close above the resistance line will tilt the advantage in favour of the bulls. The pair may then start a move toward $0.62.</p> <h4 class="wp-block-heading">Source – Rakesh&nbsp;Upadhyay</h4> </a>
</div>
<p><a target="_blank" rel="noreferrer noopener">Source: </a><a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/latest-market-overview-27th-may-spx-dxy-btc-eth-bnb-sol-xrp-ton-doge-ada-tbt90150.html">https://thebittimes.com/latest-market-overview-27th-may-spx-dxy-btc-eth-bnb-sol-xrp-ton-doge-ada-tbt90150.html</a></p>

Latest Market Overview 27th May: SPX, DXY, BTC, ETH, BNB, SOL, XRP, TON, DOGE, ADA

Table of Contents

TheBitTimes

Other articles published on May 28, 2024

Cambodia’s central bank chief says digital currency will bolster local fiat

Bitcoin, Ethereum, Dogecoin Edge Higher On Memorial Day: Analyst Finds The Climb 'Encouraging' On...

Polygon Labs co-founder Sandeep Nailwal assumes new ZK role

Worldchain by Worldcoin: Putting People First

Bitcoin dips below $68k as Mt. Gox moves billions to unknown address

Crypto Expert Identifies 3 Best Altcoins to Turn $400 into $40,000 in the 2024 Bull Run: Bonk (BO...

Join our free newsletter for daily crypto updates!