Price analysis 5/25: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

cointelegraph.com:

Bitcoin (BTC) has been struggling to sustain above $30,800 since May 16, suggesting that demand dries up at higher levels. Similarly, US equity markets have not ceased to decline due to uncertainty regarding the number of rate hikes that will be needed to bring inflation under control. 

As the crypto bear market deepens, analysts are becoming extra bearish on their projections for the extent of the fall. Trader and analyst Rekt Capital said that Bitcoin could be at risk of falling to $19,000 to $15,500 before a bottom is formed.

However, Arcane Research recently pointed out that buying when Bitcoin’s Fear and Greed Index reaches a score of 8 had resulted in an average median 30-day return of 28.72%. Interestingly, the index hit 8 on May 17.

Could Bitcoin slide further and pull altcoins lower or is it time for a recovery? Let’s study the charts of the top-10 cryptocurrencies to find out.

Bitcoin rose above the downtrend line on May 23 but the bulls could not sustain the higher levels. The price turned down and dipped to the strong support at $28,630 on May 24 but a minor positive is that the bulls successfully defended this level.

The bulls are again attempting to push and sustain the price above the downtrend line. If they succeed, the BTC/USDT pair could rally to the 20-day exponential moving average ($31,286).

In downtrends, the bears tend to sell the rallies to the 20-day EMA. Hence, this level may act as a stiff resistance. The bulls will have to clear this hurdle to suggest that a bottom may be in place.

On the downside, $28,630 is the important support to keep an eye on because a break below it could result in a drop to the May 12 intraday low at $26,700.

Ether (ETH) dipped below the uptrend line on May 24 but the bulls