Bitcoin, Ethereum & Ripple - American Wrap: 5/11/2020
The price has been very choppy today as the chart below shows. There has been a pullback, but as soon as the price hit 9182.66, the market turned and fell in two stages.
The 8500.00 level provided the market with some support even though the price dipped through. It seems like some participants are banking some profits as BTC heads toward the halving event on Monday.
ETH/USD: Ethereum-Based Futures With Physical Delivery Are Launched At The Cryptocurrency Exchange ErisX
The trading platform for cryptocurrency derivatives, ErisX, launched the first Ether (ETH) futures contracts with physical delivery in the U.S. According to the official announcement, the contracts based on ETH-USD with monthly and quarterly expirations are made available for traders today.
Ripple is having a tough time on Monday and the bears are in full control. On the 4-hour chart below, once the wedge was broken to the downside it seems the price capitulated. The psychological 0.20 has been a big support in the past and now it has been broken and used as resistance again as the pullback from the break lower kicked in.
Image sourced from Pixabay
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