Welcome to our latest crypto market outlook for May 14th!
After Trump announced a pause on tariffs for China and lowered them from 145% to as low as 30%, the crypto market has been extremely bullish. Here are five interesting altcoins that I believe will perform well in the next bullish wave: IOTA, ONDO, SOL, PENDLE, and TRX.
Today, we will cover the following topics:
– BTC Analysis
– 5 Altcoins Analysis
– Quotes / Advices
– Closing Remarks
BTC analysis
As per our last BTC update, it is currently retesting the upper bound of its range, approaching the current all-time high.
For the bulls to take full control and kick off the next macro trend, a break above the $109,000 mark is needed.
Meanwhile, on the 4H timeframe, as BTC retests the lower bound of the rising orange channel and the blue structure, we will be looking for short-term trend-following longs.
5 Altcoins Analysis
The shift in momentum has been confirmed on IOTA after it broke above the last major high marked in red at $0.213.
As long as the bulls remain in control, every correction can be considered a dip and an opportunity to look for trend-following longs.
Medium-term, IOTA is now bullish, trading within the rising wedge pattern marked in blue.
As it retests the $0.213 support, which intersects with the lower blue trendline, we will be looking for trend-following longs.
As per our last market outlook, ONDO rejected the lower bound of its rising wedge pattern and has been trading higher since.
This week, ONDO broke above the $1 round number — a significant milestone for bullish control.
From a daily timeframe perspective, ONDO will remain bullish as long as it continues trading within the rising orange channel.
A break above the $1.10 structure would open the way for ONDO to surge towards the $1.50 round number.
As per our last PENDLE update, it rejected the lower bound of the rising wedge pattern and surged by over 35%.
Currently, it is hovering within a weekly resistance zone between $4 and $4.5.
A break above the $4.5 resistance level would open the way for PENDLE to rally towards the $7 resistance.
Meanwhile, as it retests the lower blue trendline, we will be looking for trend-following longs.
As per our last TRX update, it broke above the $0.252 structure marked in green, signaling a shift in momentum from bearish to bullish.
The current bullish trend is unfolding within the rising blue channel.
As it retests the lower blue trendline, we will be looking for longs targeting the $0.30 round number.
After rejecting the $100 round number, SOL surged by over 70%, reaching the next resistance at $185.
For the bulls to remain in control and push towards the $250 resistance level, a break above the $185 mark is needed.
Meanwhile, SOL will remain bullish in the medium term, and we will be looking for trend-following longs as it retests the lower bound of the rising channel marked in blue.
Quotes / Advices
The men on the trading floor may not have been to school, but they have Ph.D.’s in man’s ignorance.
~ Michael M. Lewis
Closing Remarks
In summary, BTC is retesting the rising channel’s support, offering short-term long opportunities.
We also explored five promising altcoins:
IOTA confirmed a bullish momentum shift above $0.213 and remains strong within a rising wedge.
ONDO broke above the $1 mark and continues to climb within a rising channel, eyeing $1.50.
PENDLE surged over 35% after rejecting key support and is testing resistance between $4 and $4.5.
TRX flipped bullish above $0.252 and is now aiming for the $0.30 round number.
SOL jumped over 70% from $100 and is targeting a break above $185 to reach $250.
