Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Price Analysis (31st May 2018)
Data & Research

Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) Price Analysis (31st May 2018)

Bitcoin (BTC)

  • Bitcoin price has grown against the US dollar today.
  • There is a short-term bullish trend line forming with resistance at 7560.78 USD on the hourly chart of the BTC/USD pair.
  • We predict that the pair would see a dip soon.

The price of the BTC/USD pair has seen quite a lot of growth today. As of now, the pair is trading at 7553.8 USD and is expected to decline soon.

BTC Price Chart 31/05/18
Source: TradingView

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

Major Support Level – 7326.19 USD

Major Resistance Level – 7603.71 USD

Ethereum (ETH)

  • The price of Ethereum against the dollar has seen a little growth today.
  • There is a short-term bullish trend line forming with resistance at 578.56 USD on the hourly chart of the ETH/USD pair.
  • We predict that the pair would dip soon.

The ETH price against the US dollar has grown a little in the last 24 hours. As of now, the cryptocurrency is being traded at 578.23 USD and is expected to decline soon.

ETH Price Chart 31/05/18
Source: TradingView

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

Major Support Level – 549.10 USD

Major Resistance Level – 578.56 USD

Ripple (XRP)

  • The price of Ripple has grown against the US dollar today.
  • There is a short-term bullish trend line forming with resistance at 0.617985 USD on the hourly chart of the XRP/USD pair.
  • We predict that the pair would decline soon.

The XRP price against the US dollar has grown in the last 24 hours. As of now, the cryptocurrency is trading at 0.61400 USD and is expected to decline soon.

XRP Price Chart 31/05/18
Source: TradingView

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

Major Support Level – 0.590289 USD

Major Resistance Level – 0.618486 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.