+ -0.01
+ 0%
+ 0.55
+ 0.32%

Bitcoin, Ethereum & Ripple - American Wrap

May 21, 2020 4:16 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Bitcoin, Ethereum & Ripple - American Wrap

Bitcoin Price Analysis: This sell-off looks like the real deal

The trendline that begins from the low of 3858.00 back on 13th March is now being tested once again. The 4-hour chart below shows the price has tested the uptrend at least three times and now we could possibly see a break.

See also: How to Buy Ripple (XRP)

This move lower over the last couple of sessions has been backed by some decent volume giving us clues that it could be the real deal. In the way of the potential down move is the 200 simple moving average (SMA). The SMA often provides some support when tested as you can see in mid-April.

ETH/USD goes below $200.00 amid the bloodbath on the cryptocurrency market

The second-largest digital asset dropped below a critical $200.00 and touched the intraday low of $196.33. At the time of writing, the second-largest digital asset is trading at $198.69, down 5% since the beginning of the day. 

The sell-off is caused by technical factors and general sentiments on the market where Bitcoin touched the ground below $9,000, while XRP settled under $0.2000.

Ripple Price Analysis: XRP/USD explores the area below $0.2000, more sell-off ahead

XRP/USD touched the low at $0.1890 amid widespread sell-off on the cryptocurrency market. The third-largest digital asset is changing hands at $0.1935, down 4% since the beginning of the day. 

A sustainable move below $0.2000 creates a bearish short-term picture and signals that XRP may continue sliding down with the next major support at $0.1780, which is the lowest level since May 10. 

Related Articles

'I Know Where The DOGE Money Is Going Next,' Says Digital Currency Group CEO As Ethereum Classic, Bitcoin Diamond Skyrocket

Altcoins like Bitcoin Diamond and Ethereum Classic seem to have come out from hibernation, with some recording weekly gains in excess of 300%. What Happened: Leading this week’s crypto rally was Ethereum Classic (ETC), which surged 340% in seven days from $35 to $154. read more

'Dogecoin Killer' Shiba Inu Adds $11B To Ethereum Founder Vitalik Buterin's Net Worth

Another meme-based cryptocurrency Shiba Inu (SHIB) saw a price rise of over 1647.42% in the past week. What Happened: At press time, SHIB was trading even higher at $0.00002948, gaining over 50% moments after Binance announced it would list the token. read more

Gemini Crypto Exchange Lets Dogecoin Holders Earn 2.5% APY

Winklevoss-owned crypto exchange Gemini announced on Sunday that investors holding Dogecoin (CRYPTO: DOGE) could earn 2.5% APY through Gemini Earn. read more

Digital Asset Custody Solutions: Should You Build Or Buy? | Opinion

This column does not necessarily reflect the opinion of the editorial board of Benzinga. Banks and governments have had centuries to improve the quick transfer of traditional currency.  read more