Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Litecoin, Binance Coin, Stellar, Cardano, TRON: Price Analysis May 20

Published on by Cointele | Published on

Analysts at JPMorgan Chase have said that, after the rally, Bitcoin is trading above its intrinsic value.

Traders can keep the stop loss on the long positions at $0.2750.Conversely, if the pair bounces off the 20-day EMA and scales above $0.45, it is likely to pick up momentum and move up to $0.60.

If the bulls fail to break out of the channel, the digital currency might still move up gradually as long as it stays above the 20-day EMA.The first sign of weakness will be a break below the 20-day EMA. After that, a drop to the support line of the channel is probable.

They are currently finding it difficult to push the price above $6.8299.A failure to scale above $6.8299 will result in a consolidation for a few days.

Contrary to our assumption, if the XLM/USD pair fails to climb above the overhead resistance, it might remain range-bound between $0.1150 and $0.14861760 for a few days.

ADA/USDThe bulls are finding it difficult to propel Cardano above the overhead resistance of $0.094256.

If the ADA/USD pair rebounds off the moving averages and climbs above the overhead resistance of $0.094256, it will complete a reversal pattern that has a target objective of $0.161275.

TRX/USDThough Tron rose above $0.02815521 on May 19, the bulls could not sustain the highs.

If the TRX/USD pair sustains above $0.02815521 for 3 days, it is likely to start a new uptrend that can easily carry it to $0.40 where it might face some resistance.

Above $0.40, the rally can extend to $0.50.Our bullish view will be invalidated if the cryptocurrency fails to sustain above the range.

x