Ondo

Cryptocurrency

Bitcoin

Bitget Token

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/cryptocurrency-market-performance-and-projections-for-may" rel="noopener noreferrer nofollow">Cryptocurrency Market Performance and Projections for May</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/exploring-market-dynamics-bitcoins-struggle-and-stock-market-optimism" rel="noopener noreferrer nofollow">cryptocurrency</a> market has experienced a turbulent period, with significant declines for altcoins and narrow trading ranges for major players like <a href="https://en.bitcoinhaber.net/bitcoin-option-market-dynamics-reflect-short-term-focus-and-etf-anticipation" rel="noopener noreferrer nofollow">Bitcoin</a>. Despite previous gains in early 2024, newcomers to the crypto space may find the current market conditions perplexing. The potential for recovery remains a topic of interest, especially with predictions hinting at possible rallies for specific altcoins in May.</p>
<h2 id="binance-coin-bnb-struggles-but-holds-potential">Binance Coin (BNB) Struggles but Holds Potential</h2>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoin-maintains-highs-as-etfs-attract-capital-bnb-poised-for-potential-breakout" rel="noopener noreferrer nofollow">BNB</a>, supported by the largest cryptocurrency exchange Binance, has been making attempts to surpass its previous high of $686. Despite setbacks due to overall market downturns, BNB has not shied away from testing prices above $610 this month. Currently facing resistance at $640, the Relative Strength Index (RSI) suggests there is room for growth, potentially moving higher if resistance is breached, though a drop to $540 could occur if it fails.</p>
<h2 id="bitcoin-btc-oscillates-within-a-narrow-range">Bitcoin (BTC) Oscillates Within a Narrow Range</h2>
<p style="text-align: justify">Since rallying a month ago, Bitcoin has been trading between $70,000 and $65,000. Recent activities have seen its price compress below $67,000. Following the Wyckoff model for May, BTC might climb above $73,777 or, conversely, could drop below $60,000 if bearish scenarios play out.</p>
<h2 id="bitget-token-bgb-awaits-bullish-momentum">Bitget Token (BGB) Awaits Bullish Momentum</h2>
<p style="text-align: justify">After peaking at $1.38 at the start of April, BGB’s price has retreated to 15% below its high. If bulls can reclaim $1.24 as support, a retest of $1.38 could be possible. The Moving Average Convergence Divergence (MACD) is optimistic, though a fall below $1.15 support might dash hopes for new highs, opening doors to lower levels.</p>
<h2 id="ondo-ondo-eyes-potential-surge">Ondo (ONDO) Eyes Potential Surge</h2>
<p style="text-align: justify">Ondo has been consolidating for the last six weeks, trading at $0.799. A breakout from the crucial $0.797 level could initiate a rally towards its all-time high of $0.977. The RSI remains neutral, providing technical backing for a possible upward move. However, a breakdown below the $0.797 support could lead to declines toward $0.700.</p>
<h2 id="points-to-consider">Points to Consider</h2>
<ul style="text-align: justify">
 <li>BNB’s performance could pivot on breaking the $640 resistance.</li>
 <li>Bitcoin’s next movement heavily depends on overcoming the $70,000 resistance or breaking below $60,000 support.</li>
 <li>BGB and ONDO require maintaining key support levels to avoid further declines and potentially testing new highs.</li>
</ul>
<p style="text-align: justify">As cryptocurrencies navigate uncertain waters, these developments and strategies will significantly influence their trajectories in the upcoming month. Investors should monitor these trends closely and prepare for potential volatility.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/cryptocurrency-market-performance-and-projections-for-may" rel="noopener noreferrer nofollow">Cryptocurrency Market Performance and Projections for May</a></h5>

Cryptocurrency Market Performance and Projections for May

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