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Cryptocurrencies Price Prediction: Bitcoin, Ripple & Ethereum – Asian Wrap 06 May

Cryptocurrencies Price Prediction: Bitcoin, Ripple & Ethereum – Asian Wrap 06 May
FXStreet TeamFXStreet TeamFXStreet

Bitcoin Price Analysis: BTC/USD falls below $9,000, can bears break below critical support level?

BTC/USD dropped from $9,029.73 to $8,986, falling below the critical $9,000 psychological level in the process. On the downside, key support lies at $8,980, which needs to hold steady. This level has the 4-hour SMA 5, one-day SMA 5, one-hour SMA 10, 15-min SMA 50 and 15-min SMA 50.

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Ripple Price Analysis: XRP/USD starts to consolidate above $0.2150

The entire cryptocurrency market is in the red amid widespread correction from the gains posted on Tuesday. Ripple has not been spared as it records 0.16% losses on the day. Generally, bears have had the upper hand since the week started. The lethargic bullish momentum took over as Ripple failed to break the resistance at $0.2350 during the recovery in April.

Ethereum Price Analysis: ETH/USD struggle to secure $200 support continues

Ethereum price is facing intense selling pressure after the recovery on Tuesday failed to sustain gains above $212. Sellers are forcing Ethereum towards the critical $200 level. However, an intraday low has been reached at $202 (functions as a short term support area).

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XRP steadies above $1.90 support as fund inflows and retail demand rise

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.

Cardano struggles to extend gains as retail interest wanes despite Midnight's NIGHT token launch

Cardano struggles to extend gains as retail interest wanes despite Midnight's NIGHT token launch

Cardano ticks higher after a bearish weekend, struggling to extend an upcycle within a descending wedge pattern. On-chain data shows an increase in trading volume and user activity after the Midnight side chain token launch.

Crypto Today: Bitcoin, Ethereum recover as XRP remains supported by ETF inflows

Crypto Today: Bitcoin, Ethereum recover as XRP remains supported by ETF inflows

Bitcoin is trending up toward the pivotal $90,000 level at the time of writing on Monday, which marks four consecutive days of gains. Altcoins, including Ethereum and Ripple, are also rebounding above key short-term support levels.

Bitcoin nears $90,000 as recovery hopes clash with institutional outflows

Bitcoin nears $90,000 as recovery hopes clash with institutional outflows

Bitcoin is approaching the $90,000 resistance level at the time of writing on Monday, raising hopes of a short-term recovery. However, the bullish recovery is being challenged by weakening institutional demand, as evidenced by outflows from Spot ETFs.

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Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin: Fed delivers, yet fails to impress BTC traders

Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.