The price of Bitcoin has seen a remarkable 13% increase in the last month. On May 21, BTC reached a one-month high of $71,946. Throughout May, the largest cryptocurrency by market cap experienced a significant battle between bulls and bears, leading to fluctuations within the $62,000-$70,000 range. However, over the past 30 days, BTC has surged by over 13%. Towards the end of May, BTC briefly rallied in a bullish manner, coming close to its all-time high (ATH), but faced several obstacles along the way.
As of the time of writing, BTC is trading at $68,541, experiencing a 1% decline in the last 24 hours. Data shows that the daily trading volume has increased by 20.8% to reach $18.75 billion. The price of the asset has recently surpassed various resistance levels, reaching a high of approximately $72,000. This significant price surge within the US Crypto scene has led the community to anticipate BTC moving closer to its ATH of $73,750.
Despite some conflicting signals, BTC remains bullish as its current price surpasses the 21-day moving average (21MA). The daily RSI stands at 45.72, indicating that BTC is approaching the neutral zone, neither overbought nor oversold.
Analyzing the 24-hour price chart, we can identify key resistance levels for Bitcoin within the $69,000-$73,000 range. Initially, it may encounter resistance at $69,625. If the bullish trend continues, the next significant resistance could be at $71,649. Furthermore, the higher target could be set at $73,982, representing a new ATH.
On the other hand, if the bears take control, we might witness Bitcoin’s price forming bottoms within the $65,000-$67,500 range. If it follows a bearish path, BTC could fall to a support level of $66,491. In the event of strong bearish signals, the price could drop even further to $65,255.
Meanwhile, Ethereum (ETH), the second-largest cryptocurrency, has seen a 25% surge in the last 30 days, reaching the $3,900 range. At the time of writing, the price of ETH was $3,902, with a 24-hour increase of 2.6%, as reported by CMC.
In other news, Pepe Coin has surpassed both Uniswap and Polygon in terms of market cap.