Price analysis 5/13: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 5/13: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB – Mail Bonus

Bitcoin (BTC) recovered sharply after falling close to its real value, $ 24,000, on May 12, indicating that some bulls went against the herd and bought the dip. According to the CryptoQuant chain analysis platform, exchange rates fell by more than 24,335 Bitcoin on May 11 and 12, indicating that bulls may have started bottom fishing.

However, macroeconomic investor Raoul Pal is not sure the bottom has been reached. In an exclusive interview with Cointelegraph, Pal said that if stock markets witnessed a surrender phase, cryptocurrencies are likely to fall before the bottom. He expects the current bear phase to end after the US Federal Reserve stops raising interest rates.

Daily performance of the cryptocurrency market. Source: Coin 360

Bear markets are known for sharp relief rallies, which are used to lighten long positions or start short positions. The price eventually drops and sets a new low. The bottoms are only confirmed afterwards. Therefore, investors might consider accumulating in stages rather than going through everything in the bear market.

Now investors want to know what significant costs can act as resistance. Let’s look at the charts of the top 10 cryptocurrencies to find out.