Late April / early May action in NZDUSD has been absolutely textbook in terms of ‘original slope’ trading. Here’s how we followed it in real-time.
Author
Jamie Saettele, CMT
Scandinavian Capital Markets
Jamie Saettele is Senior Technical Strategist at Scandinavian Capital Markets, a premier broker offering services to institutional clients, fund managers and professional traders around the world.
Ripple (XRP) shows subtle signs of recovery above $1.05 on Tuesday, with the move to around $1.07 ending three straight days of losses amid a pressured broader cryptocurrency market.
Bitcoin hovers around $62,500 amid prevalent sideways trading. Meanwhile, major altcoins such as Ethereum and Ripple are holding above crucial support levels at $1,700 and $1.05, respectively, reflecting ongoing consolidation across the crypto sector.
Curve DAO price is up 4% on Tuesday, extending its 3% gains from the previous day to emerge as the best-performing altcoin over the last 24 hours. On-chain data shows waning selling pressure as supply available on exchanges declines, while top holders increase their exposure amid rising supply in profit.
Bitcoin remains under pressure, trading at $62,600 on Tuesday after slipping over 2% in the previous day. The bearish bias is further fueled by renewed geopolitical tensions between the US and Iran, which have dampened risk appetite.
![How to trade early May action in NZD/USD [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Majors/NZDUSD/ten-new-zealand-dollar-with-coins-9083264.jpg)
