Crypto Market Shows Signs of Correction After Significant Price Surge

Jakarta, Pintu News - The cryptocurrency market is showing signs of correction after a significant price surge. Bitcoin hovers near all-time highs, while several major altcoins are indicating potential short-term declines before resuming the uptrend.

Bitcoin (BTC) Tests Support at $100,000

Bitcoin reached a peak of $105,819 (approximately Rp1.75 billion) before declining to below $103,000. The main support level is at $100,000 (about Rp1.65 billion), with additional support at the 20-day exponential moving average (EMA 20) at $97,238 (about Rp1.6 billion).

If the price manages to stay above $100,000, there is potential to resume the uptrend towards $130,000 (approx. IDR2.15 billion). However, a drop below the 20 EMA could open the way towards $93,000 (approx. IDR1.53 billion) and then to the 50-day simple moving average (SMA 50) at $89,302 (approx. IDR1.47 billion).

Also Read: Bitcoin Nears Rp1.74 Billion: Trend Analysis and Challenges May 2025

Ethereum (ETH) Faces Pressure Around $2,550

After failing to break through the $2,600 (about Rp41.6 million) resistance, the Ethereum (ETH) price is indicating a decline. The main support level is at $2,320 (about Rp38.5 million), and a drop below this level could continue towards $2,100 (about Rp34.7 million).

If the price bounces off $2,320, there is a possibility of resuming the uptrend with a resistance target at $2,850. A break above this level could open the way to $3,000.

Other Altcoins: XRP, BNB, SOL, DOGE, ADA, and SUI

Among altcoins, Ripple (XRP) is approaching the 20-day EMA, which could serve as support. If the price drops below this level, there is potential to continue falling to $0.70.

Meanwhile, Binance Coin (BNB) is encountering resistance at $270, and a break above this level could propel the price towards $290 and then to $300.

Solana (SOL) is indicating a decline from the 20-day EMA, and if the price drops below the main support at $48.00, it could continue falling to $42.00.

Dogecoin (DOGE) is approaching the 20-day EMA, which could provide support and potentially drive a rebound towards $0.80.

If the price of Cardano (ADA) drops below the 20-day EMA, it could continue falling to $0.40, while a move above $0.50 could pave the way for a rise to $0.58.

Lastly, the S&P 500 Index and the US Dollar (DXY) provide a broader macroeconomic context.

The S&P 500 Index (SPX) surged above the 5,800 resistance, indicating positive sentiment in the stock market. If prices hold above this level, there is potential to reach 6,000 and even test the all-time high of 6,147.

The US Dollar Index (DXY) broke the 20-day EMA at 100.42, indicating that selling pressure is starting to ease. If the price stays above the 20-day EMA, there is a possibility to rise to 103.54 and then to 104.68.

Conclusion

The cryptocurrency market is currently in a consolidation phase after a significant price surge. Bitcoin and major altcoins face important resistance that must be broken to continue the uptrend. Investors are advised to monitor key support and resistance levels, relative strength index (RSI), and other technical indicators to make informed investment decisions.

Also Read: 3 Altcoins that Catch Analysts’ Attention Amid Positive Market Sentiment: Significant Growth!

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