Currently, the bulls are attempting to sustain the price above the 20-day EMA. If successful, the buyers will try to clear the hurdle at $10,000.
Currently, the bulls are attempting to push the price back into the channel.
The 3rd-ranked cryptocurrency on CoinMarketCap turned around from $0.1888 on May 21 and the bulls are currently attempting to push the price back above the moving averages.
The stop-loss can be kept below $0.1800.Conversely, if the bulls fail to propel the price above the moving averages, the bears will make another attempt to drag the price to $0.17372.
Currently, the bulls are attempting to sustain the 5th-ranked cryptocurrency on CoinMarketCap above $230. If successful, the price might remain stuck between $230-$250 once again.
The momentum is likely to pick up if the bulls can sustain the price above $227. Hence, this could offer a buying opportunity.
If the bears can sink and sustain the price below the critical support of $39, the head and shoulders pattern will complete.
If the bulls can scale the price above the downtrend line, a move to $50.7864 is possible.
Conversely, if the LTC/USD pair again turns down from the downtrend line, the bears are likely to make another attempt to sink the price below $39. The pair remains weak until it does not break above the downtrend line.
On May 21, the bears again dragged the price below the downtrend line.
Price Analysis 5/22: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, ADA
Published on May 22, 2020
by Cointele | Published on Coinage
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