Cryptocurrencies Price Prediction: Bitcoin, Ripple & Ethereum – Asian Wrap 05 May
|Bitcoin Price Analysis: BTC/USD consolidates below the red Ichimoku cloud
BTC/USD bears remained in control for the third straight day as the price dropped from $8,886 to $8,864. This Monday, the price broke below the upward trending line and it has moved horizontally since then. The daily BTC/USD price is consolidating below the red Ichimoku cloud.
Ripple Price Analysis: XRP/USD facing key resistance at the 50 SMA and the 100 SMA
Ripple price has been lethargic in its trading since Friday last week. The weekend session was relatively drab and allowed XRP to stabilize in a narrow range between $0.2150 and $0.2200. Recently, Ripple price recovery shot up to test $0.2350 resistance, however, increasing selling activity marked the end of the bull-run.
Ethereum Market Update: ETH/USD contains gains in a key ascending channel
After a gruesome trading session on Monday, Ethereum managed to recover, reclaiming the position above $200. The dip tested support at $195, marking the end of the reversal. On the upside, Ether ascended to new April highs at $227 but the desire to close the month of April above $250 was thwarted by a comeback retaliatory move from the bulls, which has managed to keep the price under the resistance at $210.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.