Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Price Analysis (24th May 2018)
Data & Research

Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Price Analysis (24th May 2018)

Bitcoin (BTC)

  • Bitcoin price topped near 7951.00 USD and declined below the 7507.88 USD support against the US dollar.
  • There is a short-term bearish trend line forming with resistance at 7414.53 USD on the hourly chart of the BTC/USD pair.
  • We predict that the pair would fluctuate between 7800 USD and 7200 USD for a few hours.

The BTC price against the US dollar has been declining in the last 48 hours. It has broken below the 7507.88 USD, 7425.44 USD, and 7331.14 USD support levels and is dipping further below. The BTC/USD pair is now on a rise which would be short-lived

Hourly MACD – The hourly MACD for BTC/USD is bullish.

Major Support Level – 7331.14 USD

Major Resistance Level – 7951.00 USD

Ethereum (ETH)

  • Ethereum has seen quite a lot of gains and losses in the last 24 hours, just as it had seen yesterday.
  • There is a short-term bearish trend line forming with resistance at 583.75 USD on the hourly chart of the ETH/USD pair.
  • We predict that the pair would rise further before going for another dip.

The ETH price against the US dollar has overall been declining in the last 24 hours. It has broken below the 586.94 USD, 572.95 USD, and 557.21 USD support levels and is dipping further below. The ETH/USD pair is currently seeing a rise in the price at which the pair is being traded at. However, there would be a further dip before it gains considerably.

Hourly MACD – The hourly MACD for ETH/USD is bullish.

Major Support Level – 557.21 USD

Major Resistance Level – 610.88 USD

Ripple (XRP)

  • The price of Ripple is growing steadily against the US dollar.
  • There is a short-term bullish trend line forming with resistance at 0.618036 USD on the hourly chart of the XRP/USD pair.
  • We predict that the pair would show a considerable amount of rise in the next few hours.

The XRP price against the US dollar has been slowly rising in the last 24 hours. You can expect it to rise further in the next few hours after a minor dip.

Hourly MACD – The hourly MACD for XRP/USD is bullish.

Major Support Level – 0.589272 USD

Major Resistance Level – 0.622486 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.