Bitcoin is approaching a critical resistance level at $84,000, with bulls indicating strong buying interest. Recent data shows that Bitcoin exchange-traded funds (ETFs) recorded net inflows of $1.63 billion in May, suggesting that investors are positioning for a potential uptrend. This trend has led to increased speculation about Bitcoin's future price trajectory, with prominent analyst PlanC anticipating that Bitcoin could reach over $250,000 in the next two years. He describes this potential rise as Bitcoin's first supercycle since the bear-market low of $16,000 in November 2022.

However, not all market participants are convinced that the bear market is over. According to TradingShot, Bitcoin's rejection at the 200-day simple moving average, currently around $83,313, raises concerns that the price could retest lower levels, with a target of $50,000 firmly in sight. This mixed sentiment indicates that while some investors are optimistic about Bitcoin's trajectory, significant resistance remains, and traders are grappling with volatility as they navigate these critical price points. Bitcoin has shown resilience in its recent rally, rising above $82,800 on Wednesday.

Nevertheless, bulls struggled to hold onto these higher levels, which suggests that selling pressure is palpable at this stage. The potential for a shallow pullback is noteworthy, as it may increase the likelihood of an upside breakout. If Bitcoin can rebound off the 20-day exponential moving average, currently at $77,477, it could signal a renewed buying interest and potentially lead to a breakout above the $84,000 mark. In such a scenario, the BTC/USDT pair may ascend toward $92,000, showcasing the bullish momentum.

Simultaneously, Ether (ETH) is also experiencing challenges, struggling to break the $2,465 resistance level despite trading above its moving averages. The hesitance to buy aggressively at higher levels indicates that market participants are closely watching for signs of strength. Sellers are likely to attempt to seize control, and if they succeed in pulling ETH below the moving averages, the price could descend toward the support line. Buyers, however, are keen on maintaining ETH above the 20-day EMA at $2,309, which could pave the way for a rally to $3,050 if they manage to overcome the resistance.

Meanwhile, XRP shows some promise, having closed above its moving averages, which could facilitate a rally toward its downtrend line. A close above this line may signal a trend change, propelling XRP to $2 and beyond. However, a drop below $1.27 would suggest continued bearish momentum, emphasizing the importance of monitoring price movements closely. For BNB, market dynamics indicate that a close above $654 could pave the way for a move toward $687.

However, sellers are expected to defend this level vigorously, making it a key battleground. If buyers can maintain their momentum, a breakthrough could lead to additional gains for BNB. Conversely, if the price turns sharply lower from the overhead resistance, it may continue its range-bound action between $570 and $687. Solana (SOL) is also on the rise, approaching the $90.73 resistance level.

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With bullish indicators suggesting that a sustained breakthrough could lead to a rally toward $117, traders are watching this level closely for potential entry points. Should the price turn down and break below the moving averages, it may suggest that the pair will remain within the $76 to $98 range for a few more days. Dogecoin (DOGE) is making strides toward the $0.12 resistance level, where sellers are anticipated to emerge. A breakout past this level could result in significant gains, enhancing bullish sentiment among investors.

However, a drop below the 20-day EMA could indicate a retreat, reinforcing the need for traders to remain cautious amid these fluctuations. In the altcoin landscape, Hyperliquid (HYPE) has faced resistance in the $43.76 to $45.77 zone. The 20-day EMA has started to trend higher, and the RSI is in positive territory, suggesting a potential upward trajectory. If buyers can pierce through the $45.77 level, the HYPE/USDT pair may soar to $50, presenting exciting opportunities for traders.

Conversely, a break below the 50-day SMA could signify a loss of bullish momentum. Zcash (ZEC) has recently rallied above $560, but overbought conditions indicated by the RSI may lead to consolidation. If the price maintains above this level, it could boost optimism for a rally toward the formidable resistance at $750. However, sharp rallies often precede equal pullbacks, and traders should remain vigilant for potential corrections.

Cardano (ADA) has cleared the significant hurdle at the 50-day SMA, signaling a potential comeback. Yet, selling pressure is expected at $0.28 and $0.30. If both levels are breached, the next target could be $0.31, a critical resistance point that traders will closely monitor. A break above this level could signal the onset of a new uptrend.

Finally, Bitcoin Cash (BCH) remains in a range between $486 and $419, where a breakout above $486 is necessary for momentum to continue upward.