Short‑Term crypto price forecasts for May 8 — Bitcoin, ETH, XRP, NOT and top altcoins reviewed | Credit: Veronica Cestari
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Key Takeaways
Bitcoin and Ethereum remain in recovery structures, with BTC targeting $85,000 and ETH needing a breakout above $2,500.
XRP, Monero, and TON are approaching breakout zones as volatility compresses and bullish momentum gradually builds.
Cronos is trading near long-term lows with bullish divergence emerging, creating a high-risk, high-reward breakout setup.
The crypto market is heating up again, and this time, the signals are getting harder to ignore.
This week, Bitcoin briefly pushed above $82,000, reigniting bullish sentiment across the market before the recent drop.
At the same time, Ethereum is gaining momentum fast, adding fresh confidence to the broader crypto rally.
But that’s not all.
Several altcoins are now flashing breakout patterns. Some are approaching key resistance levels.
Others are showing early signs of explosive upside potential. As volatility returns, traders are watching closely for the next big move.
Can Bitcoin hold its recovery and extend higher? Will ETH finally outperform? And which altcoins could be preparing for massive price swings in the days ahead?
In this crypto price prediction analysis, CCN breaks down the latest market action and where Bitcoin, Ethereum, and top altcoins could be headed next.
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Bitcoin’s price has recovered from the February capitulation low near $60,000. However, after hitting $82,000 earlier this week, the asset’s price has dropped again.
This area aligns with previous horizontal resistance and sits just below the 0.382 Fibonacci retracement at $85,400, making it one of the most important zones on the chart.
Since the lows, price has been respecting a rising channel structure with consistently higher highs and higher lows, showing that buyers remain in control of the medium-term trend.
Momentum remains constructive, with the MACD holding in positive territory, though it has started to flatten slightly as BTC approaches resistance.
A confirmed breakout above the current resistance range would likely trigger another leg toward the $85,000 region first, followed by the larger macro targets near $93,000 and, eventually, $101,000 if the trend continues to strengthen.
On the downside, the rising trendline and the $75,700 Fibonacci support level are critical for maintaining the bullish structure.
Losing that area would weaken momentum and increase the probability of a deeper retracement.
For now, however, Bitcoin’s price still appears to be in a healthy recovery trend despite short-term consolidation near resistance.
Ethereum (ETH)
ETH is still trading inside a broader recovery phase after the breakdown from the $2,700 support region earlier this year.
Since bottoming near the macro support zone around $1,750, the price has been forming a gradual base with higher lows and repeated attempts to regain momentum.
However, it continues to struggle near $2,500 (0.236 Fib).
That $2,500 level is the most important area on the chart right now.
A successful breakout above it would confirm a stronger trend reversal and likely open the path toward the next major resistance around $3,000, followed by $3,350 if momentum accelerates.
The MACD is still positive overall, showing that bullish momentum has improved significantly from the February lows, though it has started to flatten in recent sessions.
That suggests the market may need another consolidation phase before attempting a larger breakout.
On the downside, the $2,000 region remains key short-term support, while the broader bullish structure remains intact as long as ETH holds above $1,750.
Losing that level would invalidate the recovery thesis and shift momentum back in favor of the bears.
XRP
Without XRP, daily crypto price predictions will be incomplete, given the community’s size.
Price is currently trapped between rising support and descending resistance while sitting just below $1.42 (0.236 Fib), which remains the main breakout trigger.
The structure is becoming increasingly compressed, meaning a larger directional move is likely approaching.
XRP is also trading around the 20- and 50-EMA levels, suggesting momentum is beginning to stabilize after the prolonged downtrend.
A confirmed breakout above the descending trendline and the $1.42 resistance zone would likely open the door toward the next Fibonacci targets at $1.61 and $1.77.
On the downside, the rising support trendline near the $1.32 area is the key invalidation level.
Losing that support would break the current consolidation structure and increase the likelihood of another move back toward the broader-range lows near $1.12.
For now, XRP’s price remains in compression mode, but the chart suggests volatility expansion is getting close.
Monero (XMR)
XMR is attempting to reclaim momentum after a capitulation event that sent the price from the $700 region back toward the macro support zone near $265.
Since that flush, Monero’s price has been building a rounded recovery structure, with steadily rising lows.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
