Price Analysis 5/29: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, ADA

BTC/USDBitcoin broke above the 20-day exponential moving average on May 27 and followed it up with another strong up move on May 28.

The upsloping moving averages and the relative strength index above 60 levels suggest that bulls have the upper hand.

The first support on the downside is $145 and then $120. Therefore, traders can protect their long positions with a stop below $170.On the other hand, if the bulls can scale the price above the downtrend line, a rally to $227 is possible.

If the bulls can propel the price above this resistance, a rally to $50.7864 is possible.

Traders can look for buying opportunities on a breakout and close above $50.7864.Conversely, if the 7th-ranked cryptocurrency on CoinMarketCap turns down from the downtrend line, it can drop to $41.7 and then to $39.If the LTC/USD pair bounces off the supports, the range-bound is likely to continue.

The trend will turn in favor of the bears on a break below $39.BNB/USDThe bulls have carried Binance Coin to the downtrend line but are struggling to scale the price above it.

If the bulls can keep the 8th-ranked crypto-asset on CoinMarketCap above the moving averages, it will increase the possibility of a break above the downtrend line.

The BNB/USD pair is likely to pick up momentum above $18.1377, which can offer a buying opportunity to the traders.

Although the bulls have managed to push the price above the moving averages, the breakout lacks momentum.

The failure to sustain the price above the downtrend line is likely to attract selling.