23rd May - Crypto Price Analysis
(By Shivkumar)
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1) BTC/USD
Bulls are trying to sustain price above $ 9144 and if successful and clear the $ 10,000 it can set higher objective of $11,869.
Bearish below $ 9144 and can drop to $8,130.58 is possible.
If $ 8130 support holds, the pair remain range-bound between $8,130.58-$10,058.52 for a few days.
Trend will be negative if bear breaks below $8,130.58.
Buying opportunity for aggressive trader above $ 9400 and on the rebound of $ 8140.
2) ETH/USD
Bulls push the price back into the channel and if successful, a rally to the $220-$227.097 range is possible.
Traders can wait for the price to sustain inside the channel before looking for buying opportunities.
If bears break the support of $ 205, if successful, a drop to $176.103 is possible.
A break below $ 205 will end to the uptrend and if $176.103 holds, the ETH/USD pair might remain range-bound for a few days.
3) XRP/USD
Bears could not keep up the selling pressure and the price fell to $0.17372.
If the price sustains above $ 0.20 , a rally to $0.23612 is possible.
Traders can take a position above $ 0.20 and can have stop-loss can be kept below $0.1800.
Bearish below $ 0.19 the bears will make another attempt to drag the price to $0.17372. A strong rebound off this support could also offer a buying opportunity.
4) BCH/USD
Bitcoin Cash fell below the $230-$250 range and show lack of selling.
If price sustains above $ 230 the price might remain stuck between $230-$250 once again.
If price below $ 230 bears can again test the price of $200.
Buyer can have a opportunity to buy at the bounce off $200 or breaks out and sustains above $280.47.
Traders can wait on the sidelines until they see above action.
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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
