Data & Research

Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Price Analysis (28 May 2018 – 1st June 2018)

Bitcoin (BTC)

  • Bitcoin price has grown against the US dollar this week.
  • There is a short-term bearish trend line forming with resistance at 7669.19 USD.
  • We predict that the pair would grow further.

The price of the BTC/USD pair has seen quite a lot of rise and fall throughout the week. It grew from 7156.43 USD to 7445.27 USD in just one hour on 29 May 2018. The pair grew further the next day but saw a great decline in the prices it was traded at towards the end of 30th May.

BTC Price Chart Weekly Update
Source: CoinMarketCap

Major Support Level – 7100.89 USD

Major Resistance Level – 7672.84 USD

Ethereum (ETH)

  • The price of Ethereum has grown against the dollar this week.
  • There is a short-term bullish trend line forming with resistance at 596.87 USD.
  • We predict that the pair would grow further.

The price of the ETH/USD pair has mostly seen a rise this week. It declined as the week started but recovered soon and managed to beat the resistance it saw at 575.96 USD two days later. Over the course of the next week, the pair saw more growth.

ETH Price Chart Weekly Update
Source: CoinMarketCap

Major Support Level – 512.75 USD

Major Resistance Level – 585.54 USD

Ripple (XRP)

  • The price of Ripple has seen its share of highs and lows this week.
  • There is a short-term bearish trend line forming with resistance at 0627679 USD.
  • We predict that the pair would grow further.

The XRP price against the US dollar has grown this week. Despite many highs and lows, the overall status of the pair is positive. According to our predictions based on various price indicators, the cryptocurrency would grow further next week.

XRP Price Chart Weekly Update
Source: CoinMarketCap

Major Support Level – 0.606648 USD

Major Resistance Level – 0.620764 USD

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.