Major cryptocurrencies are gaining bullish momentum as market sentiment improves, supported by optimism around a potential U.S. trade deal and steady Federal Reserve policy. Bitcoin is nearing the $100,000 milestone, while Ethereum, XRP, and Dogecoin are also rallying in tandem with broader risk assets.

KEY HIGHLIGHTS 

• Bitcoin Nears $100K as Trade Deal Optimism Lifts Market
• XRP Eyes Breakout Amid Improved Sentiment and Steady Fed Rates
• Dogecoin Rises Above $0.1750, Builds Momentum With Bitcoin Rally
• Ethereum Targets $2,000 Level After Strong Break Above $1,900

BITCOIN

Bitcoin Nears $100K as US Trade Deal Hopes Strengthen Market Sentiment

Bitcoin surged on Thursday, approaching the significant $100,000 mark. The rally is driven by renewed investor optimism following U.S. President Donald Trump’s comments about a “major” trade agreement, which suggests a potential softening of his stance on tariffs.

This comes amid news that trade discussions between the U.S. and China will resume this week. Despite lingering concerns over the U.S. economy and recent warnings from the Federal Reserve, Bitcoin has remained resilient and continues to outperform altcoins.

Technical Overview

Moving Averages

Exponential Moving Averages (EMA):

• MA 10: 96,109.33 — Bullish crossover
• MA 20: 93,771.26 — Bullish crossover
• MA 50: 90,418.64 — Bullish crossover

Simple Moving Averages (SMA):

• MA 10: 96,074.41 — Bullish crossover
• MA 20: 93,898.08 — Bullish crossover
• MA 50: 87,715.24 — Bullish crossover

Indicators

• RSI: 71.21 — Buy zone, bullish
• Stochastic Oscillator: 88.61 — Buy zone, neutral

Key Levels

• Resistance:
• R1: 96,352.96
• R2: 101,420.45
• Support:
• S1: 79,948.01
• S2: 74,880.51

Overall Sentiment: Bullish
Market Direction: Buy

Trade Suggestion:

• Entry: 97,036 (Limit Buy)
• Take Profit: 102,642
• Stop Loss: 94,260

RIPPLE (XRP)

XRP Rallies as Risk Appetite Improves, Eyes $3.00 Breakout

Ripple (XRP) is gaining momentum, rising over 3% to $2.19 as of Thursday. A potential breakout above the $3.00 resistance remains in focus, though the asset must first overcome a descending four-month trendline.

Despite a steady interest rate stance from the Federal Reserve, XRP remains below key moving averages, indicating resistance ahead. However, rising market optimism could support continued upside.

Technical Overview

Moving Averages

Exponential Moving Averages (EMA):

• MA 10: 2.1761 — Bullish crossover
• MA 20: 2.1711 — Bullish crossover
• MA 50: 2.1961 — Bullish crossover

Simple Moving Averages (SMA):

• MA 10: 2.1828 — Bullish crossover
• MA 20: 2.1818 — Bullish crossover
• MA 50: 2.1655 — Bullish crossover

Indicators

• RSI: 53.70 — Buy zone, bullish
• Stochastic Oscillator: 29.94 — Neutral zone, neutral

Key Levels

• Resistance:
• R1: 2.3417
• R2: 2.5181
• Support:
• S1: 1.7707
• S2: 1.5943

Overall Sentiment: Bullish
Market Direction: Buy

Trade Suggestion:

• Entry: 2.171 (Limit Buy)
• Take Profit: 2.284
• Stop Loss: 2.119

DOGECOIN

Dogecoin Continues Bullish Recovery Above Key Support

Dogecoin (DOGE) is showing signs of renewed strength, breaking above the $0.170 resistance after rebounding from the $0.1650 support zone. The cryptocurrency has climbed past the 50% Fibonacci retracement of its recent decline and is now trading above $0.1750.

A successful push above the $0.185 resistance could trigger further gains. However, failure to break this level may result in a pullback.

Technical Overview

Moving Averages

Exponential Moving Averages (EMA):

• MA 10: 0.1755 — Bullish crossover
• MA 20: 0.1736 — Bullish crossover
• MA 50: 0.1783 — Bullish crossover

Simple Moving Averages (SMA):

• MA 10: 0.1754 — Bullish crossover
• MA 20: 0.1744 — Bullish crossover
• MA 50: 0.1694 — Bullish crossover

Indicators

• RSI: 59.84 — Buy zone, bullish
• Stochastic Oscillator: 40.89 — Neutral zone, neutral

Key Levels

• Resistance:
• R1: 0.1892
• R2: 0.2041
• Support:
• S1: 0.1408
• S2: 0.1259

Overall Sentiment: Bullish
Market Direction: Buy

Trade Suggestion:

• Entry: 0.177 (Limit Buy)
• Take Profit: 0.192
• Stop Loss: 0.169

ETHEREUM

Ethereum Targets $2,000 Breakout as Rally Accelerates

Ethereum (ETH) is on the move, breaking above $1,850 and continuing its rally past the $1,900 resistance level. The cryptocurrency is now trading above $1,950 and is holding firm above the 100-hour Simple Moving Average.

A move above the $2,000 resistance could confirm the start of a broader uptrend. Key support lies at $1,850 and $1,900 in case of a pullback.

Technical Overview

Moving Averages

Exponential Moving Averages (EMA):

• MA 10: 1,833.75 — Bullish crossover
• MA 20: 1,796.82 — Bullish crossover
• MA 50: 1,855.73 — Bullish crossover

Simple Moving Averages (SMA):

• MA 10: 1,832.37 — Bullish crossover
• MA 20: 1,781.32 — Bullish crossover
• MA 50: 1,775.72 — Bullish crossover

Indicators

• RSI: 67.08 — Buy zone, bullish
• Stochastic Oscillator: 71.59 — Buy zone, neutral

Key Levels

• Resistance:
• R1: 1,928.82
• R2: 2,063.15
• Support:
• S1: 1,493.96
• S2: 1,359.63

Overall Sentiment: Bullish
Market Direction: Buy

Trade Suggestion:

• Entry: 1,848.2 (Limit Buy)
• Take Profit: 2,078.4
• Stop Loss: 1,725.6

Elsewhere in the Crypto Market

• Bitcoin: +2.60% at $99,575
• Ethereum: +7.75% at $1,952.69
• Litecoin: +2.77% at $92.01
• Solana: +5.39% at $154.36
• Dogecoin: +6.45% at $0.183

Key Economic Events Today

• (GBP) Bank of England Interest Rate Decision (May):
• Forecast: 4.25%
• Previous: 4.50%
• Time: 16:30 GMT
• (USD) Initial Jobless Claims:
• Forecast: 231K
• Previous: 241K
• Time: 18:00 GMT