21st May - Crypto Price Analysis
(By Shivkumar)
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1) BTC/USD
Bitcoin unable to break $9,953.33 on May 18 and break below $9,460 today has resolved this uncertainty to the downside.Â
The critical support to watch $9,145 and bulls might buy the dip to this support and will strength a move back to $10,000.
Above $10,000, the pair will rally to $10,500.
Below $ 9,145 it can fall to $ 8044.
As per RSI (Relative strength Index) it is forming bearish divergence and the trend is getting weak.
2) ETH/USD
Ether is in an uptrend even tough it was unable to break $ 220 and it seems the bulls have not given up the possibility a rally to $227.097.
Bulls have the possibility and if it breaks $ 220 and above $227.097, a rally to $248 is possible.
If bears defend the $227.097 levels, the pair might correct at $202.
Traders can watch the price action at this level and book partial profits on buy positions and trail the rest with a suitable stop-loss.
First sign of weakness will below $ 202 a downtrend could start on a break below $176.103.
3) XRP/USD
XRP was unable to break $0.20570 for the past few days and now bears currently attempting to sink the price back below $0.198.
If successful, the price can dip to $0.19 and below it to $0.17372.Â
If bulls defend $ 0.20570 the bulls might make one more attempt above $0.20570 and if successful, a move to $0.23612 is likely.
It could offer a buying opportunity to the aggressive traders.
4) BCH/USD
Bitcoin Cash broke above the tight $230-$250 range on May 18 but could not hold due to lack of buyer and price again dipped back.
If the bulls defend support at $230 another attempt to clear the $250 levels is likely and can rally to $280.47.
For traders it can offer a buying opportunity to the short-term trader for quick profit.
Bearish if bears pulls price below $230, a drop to $217.55 and then to $200 is possible.Â
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Disclosure: The author holds no cryptocurrency at the time of writing.Register for Technical news and market update shiv@shivfxcrypto.com || Facebook :- www.facebook.com/shivfxcrypto ||Instagram :- www.instagram.com/shivfxcrypto1 ||Twitter :-www.twitter.com/shivfxcrypto|| Whats App :- +91-70439-12326
