Coinbry

  • Market Cap: $2,679,453,558,020.22
  • 24h Vol: $86,798,848,897.93
  • BTC Dominance: 50.21%
Analysis of Prices on 5/5: LTC, DOT, SOL, MATIC, DOGE, ADA, XRP, BNB, ETH, BTC

Analysis of Prices on 5/5: LTC, DOT, SOL, MATIC, DOGE, ADA, XRP, BNB, ETH, BTC

Bitcoin is holding strong near its critical overhead resistance at $31,000 while the US equities markets have become vulnerable to adverse news on regional banks. Gold has risen close to its all-time high, indicating that Bitcoin is currently behaving as a safe-haven asset. Ether has broken out of its triangle pattern and this may pull Bitcoin price above $30,000.

– Bitcoin continues to trade inside the symmetrical triangle pattern, indicating indecision among the bulls and the bears.

– Ether has broken out of its triangle pattern and if buyers sustain the price above it, the ETH/USDT pair could first rise to $2,000 and then attempt a rally to $2,200.

– BNB is witnessing a tough battle between the bulls and the bears near the support line of the symmetrical triangle pattern.

– XRP formed an inside-day candlestick pattern on May 4 and a Doji candlestick pattern on May 5, indicating that the bulls and the bears are playing it safe.

– Cardano dipped below the 50-day simple moving average ($0.38) on May 3 and 5 but the long tail on the candlestick shows that the bulls are aggressively defending the support near $0.37.

– Dogecoin has failed to achieve a meaningful bounce off its immediate support near $0.08, suggesting that demand dries up at higher levels.

– Polygon attempted to rise above the 20-day EMA ($1.02) on May 3 and 4 but the bears successfully protected the level.

– Solana has been trading in a tight range for the past three days, suggesting a state of indecision among the buyers and sellers.

– Sellers yanked Polkadot below the $5.70 support on May 3 but the long tail shows solid buying at lower levels.

– Litecoin is stuck in a tight range as the bulls are buying on dips while the bears are selling on rallies.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.