Bitcoin (BTC)
Bitcoin has rebounded strongly and is trading near $102,850 on May 9, briefly surpassing $104,000 earlier in the session. This rally marks the first time BTC has held above $100,000 since February, reflecting renewed momentum. On the charts, Bitcoin’s RSI is in overbought territory, hinting at possible short-term profit-taking. Key support is now at approximately $100,000, with resistance around $110,000. Analysts note that holding above $100,000 is critical to sustain the uptrend. A break above $110,000 would target new highs, while a drop below the 20-day EMA, around $94,900, could lead to a pullback.
Ethereum (ETH)
Ethereum surged around 21%, trading at approximately $2,360. The rally was fueled by the recent Pectra upgrade, which introduced key improvements to the network. Technically, ETH has broken above prior resistance at $2,111 and even touched near $2,550. Near-term support lies around $2,200, with potential upside targets in the $2,500–$2,850 range if the current momentum continues. However, the sharp rise has pushed RSI to elevated levels, so a short-term pullback or consolidation may be expected before further gains.
Solana (SOL)
Solana rallied by about 12% to $175. SOL decisively broke above its $153 resistance level, confirming a bullish bias. Chart analysts now target roughly $180 as the next hurdle, with $200 as a longer-term objective. The short-term indicators, including RSI and moving averages, remain bullish. However, a slip below the $150–$153 zone would test support and potentially trigger a correction.
Other Cryptocurrencies
XRP is near $2.41, up around 10%, after breaking key resistance levels. Cardano (ADA) rose to approximately $0.79, gaining 11%. Dogecoin trades around $0.205, up 8.5%, after reclaiming its 20-day moving average. Shiba Inu (SHIB) saw a significant 30% jump and is now priced at $0.0000144, reflecting strong retail-driven momentum.
Among newer projects, SUI is trading at $3.95, while Ondo Finance (ONDO) is priced around $0.98. Pi Network (PI) is currently at $0.736. Each of these altcoins saw modest gains as part of the broader market rally.
Macroeconomic & Regulatory Factors
On the macroeconomic front, the U.S. Federal Reserve has maintained its benchmark interest rate at 4.25–4.50%, supporting risk assets. Institutional flows remain robust, especially into spot Bitcoin ETFs. BlackRock’s IBIT added $356 million in a single day, with total inflows for U.S. Bitcoin ETFs now surpassing $40 billion. These institutional moves are reinforcing long-term investor confidence.
Regulatory developments are also contributing to market optimism. The EU’s MiCA framework is now in force, and U.S. regulators have recently shown signs of clarity and openness. Key developments include the approval of Bitcoin ETFs and rescinding restrictive guidance on crypto-related banking. The SEC is also holding industry roundtables focused on DeFi and tokenization, signaling ongoing dialogue with the crypto sector.
Market Sentiment
Sentiment across the crypto market is overwhelmingly bullish. The Fear & Greed Index is showing signs of “extreme greed,” and social media activity reflects high levels of investor confidence. Most major coins are reaching 24-hour highs. While some analysts caution that RSI levels are elevated and that corrections are possible, the broader mood remains positive and supported by technical indicators.
Short-Term Outlook
With strong fundamentals and macro support, the short-term bias remains to the upside. Bitcoin needs to maintain support at $100,000 to avoid a shakeout, with $110,000 as the next key resistance. Ethereum should hold above $2,200 to target $2,500–$2,850. Solana may aim for $180 and potentially $200. XRP could push toward $2.60 or $3.00, and ADA may test the $1.00 mark. Dogecoin, if it clears $0.21, could aim for $0.25.
However, traders should monitor key levels closely. Any breach of support could lead to temporary corrections, though the overall structure points to continued strength in the days ahead.
| Coin | Price | % Change (24h) | Trend | Key Support | Key Resistance | Short-Term Outlook |
| Bitcoin (BTC) | $102,850 | +5% | Bullish | $100,000 | $110,000 | Needs to hold $100K; breakout could target ATH |
| Ethereum (ETH) | $2,360 | +21% | Very Bullish | $2,200 | $2,550–$2,850 | Could rise further post-upgrade; overbought short-term |
| Solana (SOL) | $175 | +12% | Bullish | $150–$153 | $180–$200 | Strong momentum; holding support is key |
| XRP | $2.41 | +10% | Bullish | $2.20 | $2.60–$3.00 | Eyes $2.60 next; healthy breakout |
| Cardano (ADA) | $0.79 | +11% | Bullish | $0.70 | $1.00 | Head-and-shoulders breakout; targets $1.00 |
| Dogecoin (DOGE) | $0.205 | +8.5% | Rebounding | $0.195 | $0.21–$0.25 | Break above $0.21 could spark meme rally |
| Shiba Inu (SHIB) | $0.0000144 | +30% | Volatile Bullish | $0.0000120 | $0.0000160 | Retail-driven hype; highly volatile |
| Ondo Finance (ONDO) | $0.98 | +5% | Gradual Uptrend | $0.92 | $1.05 | Solid fundamentals; ETF exposure rising |
| Pi Network (PI) | $0.736 | +3% | Sideways/Bullish | $0.70 | $0.78–$0.80 | Needs stronger momentum; steady gains possible |
| SUI | $3.95 | +6% | Bullish | $3.65 | $4.20 | Quietly rallying; ecosystem growth supports climb |
