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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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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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