Bitcoin (BTC) surges to new highs, igniting HYPE, Ethereum (ETH), Monero (XMR), and AAVE market trends.

Source: Cointelegraph Original text: "Bitcoin (BTC) surges to new highs, igniting HYPE, Ethereum (ETH), Monero (XMR), and AAVE market trends"

Key points:

Bitcoin has risen to $105,980, and traders predict it will break its all-time high this week.

Traders have raised their year-end price target for Bitcoin to $200,000 based on technical factors and the participation of institutional investors.

Bitcoin has been oscillating within a narrow range recently, but the breakout above $105,500 on May 18 has increased the likelihood of an upward breakout. Well-known trader Alan posted on platform X, stating that Bitcoin could soar to $116,000 early next week.

Another optimistic figure is Bitwise Chief Investment Officer Matt Hougan. In an interview with Cointelegraph, Hougan pointed out that the supply shock caused by growing institutional demand could push Bitcoin to $200,000 by the end of 2025. He anticipates that selling pressure will gradually diminish around the $100,000 mark.

Daily overview of cryptocurrency market data. Source: Coin360

Despite Bitcoin's strong performance, some analysts are turning their attention to the altcoin market, believing that an altcoin season may be approaching. Crypto analyst Javon Marks posted on the X platform that altcoins, excluding Ethereum, may "welcome the strongest round of gains since 2017!"

Can Bitcoin and altcoins continue to strengthen? Let's analyze the cryptocurrencies that are performing strongly on the charts.

Bitcoin is currently still trapped in a range consolidation, but bulls are working hard to break above the resistance at $105,820.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

The double moving averages are both showing an upward trend, and the Relative Strength Index (RSI) ( is in the overbought region, indicating that buying pressure is dominant. If it can break through and close above $105,820, the likelihood of retesting the $109,588 level will increase significantly. Sellers will try to defend the $109,588 resistance level, but if the bulls take control, the BTC/USDT trading pair could soar all the way to $130,000.

On the other hand, if the price clearly falls below $100,000, it indicates that the bears have gained control. This may prompt short-term speculators to take profits, pulling the trading pair towards the 50-day simple moving average of $1,447.

BTC/USDT 4-hour chart. Source: Cointelegraph/TradingView

On the 4-hour chart, the trading pair has broken through the symmetrical triangle pattern, indicating that buyers are in control. There is resistance at $105,820, but it is likely to be broken. If this occurs, the trading pair may advance towards the historical high of $109,588, followed by reaching the pattern target of $110,922.

The seller may have other plans. They will try to pull the price back inside the triangle. If this happens, aggressive bulls may get trapped, causing the trading pair to drop to $100,000. If this level is also breached, the decline may extend further to the target level of $95,616.

Ethereum price has fallen below the breakthrough level of $2550 again, but bears are struggling to keep the price low.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

The rising 20-day exponential moving average (USD 2275) and the RSI indicator approaching the overbought zone suggest that the market's direction with the least resistance is upward. If the price closes firmly above USD 2550, bulls will attempt to consolidate their position by pushing the ETH/USDT trading pair to break through USD 2739. If the breakout is successful, the trading pair is expected to surge towards the USD 3000 mark.

The primary sign of a weakening market will be a drop below the $2400 level. This could lead the trading pair to pull back to the 20-day exponential moving average, which is a key support level that needs to be closely monitored. Falling below the 20-day exponential moving average indicates that the bulls are losing control of the market.

ETH/USDT 4-hour chart. Source: Cointelegraph/TradingView

The bulls have pushed the price above the moving average, indicating active buying at lower levels. If buyers successfully break through the descending trend line, the upward trend may continue to $2739. A breakthrough and a stable position above $2739 may restart the upward trend.

In contrast to the previous outlook, if the price retraces near the descending trend line and breaks below $2400, it indicates that bulls are quickly fleeing the market. This scenario could trigger a deeper correction, first to $2270, and then possibly testing the $2111 support level.

Hyperliquid )HYPE( is facing resistance at $28.50, but a notable positive signal is that despite the resistance, the bulls have not significantly retreated.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

The rising moving average and the RSI indicator in the overbought zone indicate that buyers are gaining control. A breakout and a close above $28.50 could drive the HYPE/USDT trading pair quickly up to $35.73.

If the price significantly retreats from $28.50, it indicates that the bears are actively defending that resistance level. The trading pair may drop to the 20-day exponential moving average ($23.52), a position likely to attract buying interest. If the price can rebound from the 20-day exponential moving average, the bulls will attempt to break through the upper resistance once again.

HYPE/USDT 4-hour chart. Source: Cointelegraph/TradingView

The trading pair has found support at the 50-day simple moving average on the 4-hour chart, indicating that there is buying on dips in the market. Bulls will attempt to strengthen their market position by pushing the price above the resistance level of $28.50. If the breakout is successful, the trading pair is expected to rise to $31.33.

On the contrary, if the price declines and falls below the 50-day simple moving average, it indicates that bulls are quickly taking profits. This could lead the price to drop to $24, and subsequently to the key support level of $23.

Monero )XMR( surged strongly from $262 on May 4 to $353 on May 12, indicating that bullish investors are actively entering to buy.

XMR/USDT daily chart. Source: Cointelegraph/TradingView

The slight pullback in recent days suggests that investors are sticking to their positions and expect another wave of upside. If the price continues to move higher and breaks above the $353 mark, the XMR/USDT trading pair could soar all the way to $391 before hitting the $422 target.

The most direct support level below is at $331. If the price breaks below and closes under $331, the trading pair may pull back to the 20-day exponential moving average (EMA) at $308. If the price finds support and rebounds at the 20-day EMA, bulls will attempt to resume the upward trend again.

XMR/USDT 4-hour chart. Source: Cointelegraph/TradingView

The trading pair is currently supported at the 50-day simple moving average, but the bulls are struggling to push the price above the resistance level of $353. If the price turns downward and breaks below the 50-day SMA, the trading pair may undergo a deeper correction to $317, and further test the $300 mark.

On the contrary, if the price breaks through and closes above $353, it will mark the recovery of the upward trend. At that time, the trading pair may advance towards $391, and it is expected that bears will actively intervene at that position.

Aave )AAVE( is currently facing resistance at the $240 level, but a positive signal is that the bulls have not let the price drop to the 20-day EMA (206 dollars) level. This indicates that investors are buying the dips.

AAVE/USDT daily chart. Source: Cointelegraph/TradingView

If the price closes above $240, the AAVE/USDT trading pair may initiate the next round of upward momentum. This trading pair is expected to rise to $280, which may act as resistance, but if the bulls continue to enter, the next target will be the $300 round number.

The seller needs to pull the price below the 20-day EMA to stop the upward momentum. If successful, this trading pair could quickly drop to the key support level of $196. Buyers are expected to launch a strong defense at the $196 level.

AAVE/USDT 4-hour chart. Source: Cointelegraph/TradingView

The trading pair has been consolidating in the range of $217 to $240 for a while. The 20-day EMA has started to turn upward, and the Relative Strength Index ) RSI ( has risen into the bullish zone, indicating that buyers are gaining the upper hand. If the price breaks and closes above $240, it may push the trading pair towards $267.

On the other hand, if the price falls back from $240, it indicates that the bears are actively defending that level. This may lead to the trading pair oscillating between $240 and $217. Sellers need to pull the price below $217 to signal a market reversal.