Crypto Market Pulse: May Begins with Renewed Optimism

As May kicks off, the cryptocurrency market is showing signs of strength. Global crypto market capitalization has reclaimed the $3 trillion milestone, sitting around $3.02 trillion, up 0.23% in the last 24 hours. While total trading volume has slightly dipped to $78.7 billion, this price recovery suggests growing confidence among investors, further reflected by the Crypto Fear & Greed Index rising to a “Greed” score of 55–56. However, with Bitcoin dominance holding firm at 63.8%, the spotlight remains on major caps, with altcoins still waiting for their moment.

Bitcoin Tests $97K Resistance

Bitcoin (BTC) is currently trading around $96,846.25, posting a modest 0.34% gain in the past 24 hours and a weekly climb of 2.6%. BTC has broken through the key $96K–$97K resistance zone, marking its highest level since February’s market correction. This bullish movement is underpinned by continued institutional interest, including Strategy’s aggressive capital plan expansion to $84 billion and ongoing ETF inflows. With strong support at $95,000 and deeper cushions between $88K–$92K, BTC’s immediate technical target lies at $97,400. If momentum sustains, the psychologically significant $100,000 level could soon come into focus.

Ethereum Eyes $2K on Pectra Optimism

Ethereum (ETH) is trading at $1,835.21, rising 0.75% over 24 hours and 3.1% over the week. The successful reclaiming of the $1,800 level has encouraged bullish sentiment, especially ahead of the much-anticipated Pectra upgrade slated for May 7. This upgrade aims to boost scalability and lower transaction costs. The turnaround in ETH ETF flows—showing $66.25 million in net inflows for April—adds to the positive narrative. Technical resistance is seen between $1,900 and $2,000. However, ETH still lags behind BTC in terms of recovery, with its ETH/BTC pair remaining weak. A breakout above $2,000 could shift that balance and potentially ignite broader altcoin momentum.

Solana Holds Ground with Bullish Patterns Forming

Solana (SOL) is trading near $150.69, up 1.03% daily and 2.2% weekly. Price has remained stable within the $146–$152 range, with solid technical support at $140–$145 and resistance at $154–$157. Analysts are watching for breakouts from bullish chart patterns such as cup-and-handle formations. Institutional confidence remains high, with SOL Strategies planning $500 million in investments and Torrent Capital increasing its holdings. High DEX activity and news emerging from the Sui Basecamp event could inject fresh momentum into the ecosystem.

Cardano Flirts with Breakout Territory

Cardano (ADA) trades around $0.7129, gaining 1.23% over 24 hours and 1.1% for the week. It is currently testing the important $0.70–$0.74 resistance zone. ADA ecosystem developments include Bitcoin support on the Lace wallet and ongoing Hydra Layer 2 scaling. Community engagement is high, particularly after Charles Hoskinson’s appearance at the DC Blockchain Summit with Donald Trump Jr. Additionally, speculation around a possible ADA ETF is building. A confirmed breakout above $0.74 could push the token toward $0.83–$0.88, while support remains firm around $0.66–$0.68.

Sui Surges on ETF Buzz and Resilient Demand

Sui (SUI) shines as one of the best performers, currently trading at $3.46, up 6.92% in 24 hours and 6.5% weekly. The token defied expectations by rising despite a major $265 million unlock event on May 1. Investor interest surged following a partnership with 21Shares, which filed for a spot SUI ETF in the US. With over $1.8 billion in Total Value Locked (TVL), an active DeFi sector, gaming innovations, and a strong presence at Basecamp Dubai, SUI’s momentum appears robust. Resistance lies between $3.80–$4.20.

Sei Rides Institutional Momentum

Sei (SEI) trades at $0.2210, up 1.81% in the past 24 hours. The altcoin gained attention due to SEI Investments’ collaboration with Ctrl Alt in the Bank of England’s Digital Securities Sandbox. Combined with the upcoming “Giga” upgrade to improve EVM throughput and an ETF filing by Canary Capital, Sei is well-positioned in the RWA tokenization narrative. Resistance is seen at $0.22–$0.25, with a possible move toward $0.40 if momentum builds.

XRP Stabilizes Amid ETF Delay and Security Concerns

XRP is holding steady at $2.21, gaining 0.92% over 24 hours and 0.8% weekly. It continues to trade within a $2.15–$2.30 consolidation range. The SEC recently postponed its decision on the Franklin Templeton XRP ETF to June 17, hinting at a wider regulatory review. In late April, a serious vulnerability was discovered in the xrpl.js package, impacting developer confidence despite a swift patch. XRP is forming a symmetrical triangle pattern, with breakout levels at $2.33–$2.40 and support between $2.10–$2.20.

Dogecoin Flatlines but Holds Steady

Dogecoin (DOGE) is priced at $0.1817, up 1.53% in 24 hours but nearly flat over the week. The meme coin continues to hover within a stable range, awaiting fresh catalysts. While its ETF application also faces delays similar to XRP, DOGE’s resilience remains notable in the absence of major developments.

Shiba Inu Gains Momentum with Community Support

Shiba Inu (SHIB) trades at $0.00001347, marking an 0.86% daily and 3.8% weekly gain. The rise in SHIB’s price aligns with broader meme coin enthusiasm and growing interest in its Layer 2 Shibarium network. The token’s strong community backing continues to support short-term uptrends, even in the absence of major news events.

Market Analysis Table (May 2, 2025)

Final Thoughts

The crypto market is showing signs of cautious optimism as May begins, led by Bitcoin’s strength and a renewed altcoin push. While ETF news and ecosystem developments are sparking short-term gains, broader altseason momentum still depends on Ethereum’s next breakout. All eyes are now on the upcoming upgrades and regulatory decisions, which could shape the next phase of this market cycle.