BTC / USDT
Bitcoin fell below strong support at $ 28,630 on May 26, but bears couldn’t maintain lower levels.The long-legged beard of the day indicates that the bulls were aggressively buying.
The bulls are once again trying to defend their $ 28,630 support. This is an important level to note. BTCIf prices rise from current levels and break above the 20-day exponential smoothing moving average (EMA, $ 30,868), it suggests that BTC may have bottomed out.After that, BTC will recover to the 50-day moving average (SMA, $ 35,721).
Conversely, if BTC prices fall from current levels or resistance above them, it suggests a lack of demand at higher levels.This will increase the likelihood of breaking below $ 28,630.If that happens, BTC will revisit its key support of $ 26,700.Breaking below this level could intensify sales and plunge BTC towards $ 20,000.
ETH / USDT
Ethereum (ETH) Break below the uptrend line on May 25th. This shows that the bears tried to reestablish their hegemony.Selling gained momentum on May 26, with ETH prices below the May 12 intraday low of $ 1,800.
The bears are trying to defend their key support of $ 1,700, but the backlash is weak. This is an indication that the bulls aren’t actively buying with support. This could bold the bears trying to sink prices below $ 1,700.It has happenedIn that case, ETH could plummet to $ 1,300.
Conversely, if the bulls successfully defend their $ 1,700 support, ETH will begin to rise towards $ 2,159.This could consolidate ETH between the $ 2,159 and $ 1,700 range for a few more days.
XRP / USDT
Ripple (XRP) Below support of $ 0.38 on May 26, but the long candlestick beard that day indicates that there was a strong buy at a low price.Buyers are trying to push prices up towards the downtrend line.
If the XRP price falls off the downtrend line, the bears will try to sink XRP below $ 0.38 again.That’s rightIn that case, XRP will fall to the May 12 midday low of $ 0.33. This will be the point where the bulls try to defend themselves.The bears need to lower below this support to indicate the resumption of the downtrend.
Conversely, if bulls push XRP prices above the downtrend line, XRP could rise above the 20-day EMA ($ 0.44).This level may once again act as a strong resistance, but if the bulls can break through this hurdle, recovery will reach a psychological level of $ 0.50.
Translation / Editing Cointelegraph Japan
The views and opinions displayed here are those of the author and do not necessarily reflect the views of Cointelegraph. All investments and trading are risky and require your own research when making decisions.Market data is provided by HitBTC
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