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.
Author
FXStreet Team
FXStreet
