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Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Ripple – European Wrap 15 May

Cryptocurrencies Price Prediction: Bitcoin, Ethereum & Ripple – European Wrap 15 May
FXStreet TeamFXStreet TeamFXStreet

BTC/USD: Bitcoin may retest $7,500 if the bears regain the control

Bitcoin recovered from the intraday low of $9,236 to trade at $9,550 at the time of writing. Despite the recovery, the first digital asset has lost over 2% since the start of the day amid strong bearish sentiments that replaced the optimism after a failed attempt to break above $10,000 on Thursday.

BTC/USD

Ripple Weekly Forecast: XRP/USD Braces For Consolidation at $0.20 as XRP adoption escalates

Cryptocurrencies across the board are dealing with increased selling activities. May was one of the most anticipated months of 2020 due to Bitcoin halving. Trading has been quite eventful with Bitcoin initially pulling the entire market upwards with a pre-halving rally to above $10,000. However, the rally culminated in acute losses last weekend as Bitcoin once again slumped to $8,100.

XRP/USD price chart

Ethereum Price Analysis: ETH/USD flat out at $200 after rejection from 100 SMA

Ethereum price is pivotal $200 level after soaring to highs above $205. The bullish momentum which was triggered by Bitcoin’s surge towards $10,000 hit a wall at the 100 SMA in the 4-hour range. A retreat from the weekly highs failed to find support at $200, culminating in an extended action to $197 (intraday low). For now, the price has recovered slightly but still unable to overcome the seller congestion zone at $200.

ETH/USD

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XRP edges lower despite record on-chain activity and steady ETF inflows

XRP edges lower despite record on-chain activity and steady ETF inflows

Ripple is trading under pressure at the time of writing on Thursday, after bulls failed to break the short-term resistance at $2.22. The reversal may extend toward Monday’s low of $1.98, especially if risk-off sentiment persists in the broader cryptocurrency market.

Aster lags recovery as perpetual DEX releases new roadmap on infrastructure, utility and ecosystem 

Aster lags recovery as perpetual DEX releases new roadmap on infrastructure, utility and ecosystem 

Aster is consolidating above $1.05 at the time of writing on Thursday, reflecting lethargic sentiment in the broader cryptocurrency market. The token native to the perpetual Decentralised Exchange had recovered from Monday's low of $0.88 but stalled around $1.08 on Wednesday.

Hyperliquid Price Forecast: Bulls aim breakout as RSI and MACD flash buy signal

Hyperliquid Price Forecast: Bulls aim breakout as RSI and MACD flash buy signal

Hyperliquid struggles to surface above $35 as a local resistance trendline caps the two-day recovery run. Hyperliquid Strategies Inc. (PURR) transfered 12 million HYPE tokens to Hypercore and staked 425,000 tokens, which reflects confidence. 

Cardano builds recovery momentum as sentiment improves

Cardano builds recovery momentum as sentiment improves

Cardano is extending its recovery for the second consecutive day, trading at around $0.4400 at the time of writing on Thursday. If this recovery leg from Monday's $0.3707 level steadies in the coming days, Cardano bulls could push toward a bullish December.

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Bitcoin: BTC steadies as data suggests local bottom

Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.