Cryptocurrencies Price Prediction: Bitcoin, Ripple & Monero – American Wrap 12 May


Bitcoin Price Analysis: BTC/USD pushes higher to flirt with 9K once again

Bitcoin has pushed over 3.5% higher on Tuesday after Monday's halving event. The price had been anticipated to shoot higher by some analysts. Although there was no rocketing price the move higher in today's session has not been too shabby. 

On a technical note, the price found some support just ahead of the 8K level and before the two key 55 exponential and 200 simple moving averages. The bulls will now be looking to see if the 10K resistance can be taken out. The two aforementioned moving averages might also cross over in a bullish fashion. 

Ripple Price Analysis: XRP/USD sellers stay wait at $0.2000 – Confluence Detector

XRP price stays below $0,2000 after a failed attempt to clear this pivotal barrier. The third-largest digital coin hit the intraday high at $0,2001 before fresh selling interest pushed the price towards $0,1980. XRP/USD has stayed mostly unchanged on a day-to-day basis and gained nearly 3% since the beginning of Tuesday.

The intraday chart shows that the RSI points upwards though it is still below 70 (overbought zone). It means that the coin may resume the recovery attempts in the nearest future. 

Monero Price Analysis: XLM breaks higher to break the 4-hour 55 EMA

The 4-hour chart of XLM shows another bullish push to the upside and maybe even a test of the 0.70 area. There was a massive support zone the price bounced off at the psychological 0.060 area. There was also the 200-period simple moving average and Fibonacci extension (not on chart).

Now the price is moving higher there are a few resistance zones to watch. First and foremost 0.070 has been sticky. The previous consolidation had found the point to be quite the pivot area. Beyond that, the purple trendline line could be slightly tricky but if that breaks a test of the old high could defiantly be on the cards. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

Bitcoin ready for bullish continuation as crypto bull cycle pauses

The cryptocurrency market has taken a hiatus after a gruesome week of overbearing declines. Bitcoin failed to break the resistance at $52,000 but headed south, resting the support at $45,000.

More Bitcoin News

XLM on the brink of a 45% collapse, shows technicals

Stellar price already had a significant 50% sell-off from its top of $0.60 but the bears could be eying up even more. There is a lot of downside potential for XLM as several indicators show it could be poised for another leg up.

More Stellar Lumens News

LTC whales go into a buying spree, eying up $260

Litecoin price remains bounded inside an ascending parallel channel on the 12-hour chart after a significant sell-off from $247 down to $157. It seems that LTC whales have taken advantage of the recent dip to buy even more.

More Litecoin News

DEXTF Protocol launches incentivization program on SushiSwap offering 376% APY

DeFi users will be able to generate massive returns as the SushiSwap Onsen protocol is about to offer a new incentivization program developed by DEXTF Protocol. 

More Sushi News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC journey to $100,000 might be easier than expected

This past week has been extremely beneficial for Bitcoin which jumped by 30% since Monday 8. Several positive announcements, especially Tesla purchasing $1.5 billion worth of the digital asset propelled the flagship cryptocurrency to new highs.

Read the weekly forecast

BTC

ETH

XRP