CRYPTO TRADE OPPORTUNITIES

BITCOIN - BTC/USD

profits, which pulled the price below the 50-day SMA on May 1. The bears will try to strengthen their position further by sinking the price below the support at $27,000. If they succeed, the BTC/USD pair may plummet to the breakout level of $25,000.

Another possibility is that the price rebounds off $27,000. If that happens, the pair may oscillate between $27,000 and $30,000 for some time. The flattening 20-day EMA and the relative strength index (RSI) just below the midpoint suggest a range-bound action in the near term.

Bitcoinbouncedoffthe50-daysimplemovingaverage (SMA) on April 26 and rose above the 20-day exponential moving average (EMA) on April 27. However, the bulls could not sustain the recovery as bears fiercely defended the $30,000 level.

That may have tempted short-term traders to book

ETHEREUM - ETH/USD

This view will be invalidated if the bulls drive the price above $30,000. That could open the doors for a potential rally to $32,400.

Previous Analysis...

We had also projected that the 50-day SMA support may break down and that happened on May 1. The 20-day EMA is sloping down gradually and the RSI is in the negative territory, indicating that bears have a slight edge.

There is a minor support at $1,785 but if bears sink the price below it, the decline could reach the crucial level of $1,700. The bulls are expected to aggressively defend this support.

We said in the previous analysis that the bears are trying to flip the 20-day EMA into resistance and they did just that. The bears thwarted several attempts by the bulls to sustain Ether above the 20-day EMA last week.

Contrary to this assumption, if the price turns up from the current level and breaks above the 20-day EMA, it will suggest that the bears may be losing their grip.

The pair may first rise to $2,000 and then ascend to the stiff overhead resistance of $2,200.

Previous Analysis...

Binance Coin rose above $335 on April 25 but the bulls could not challenge the overhead resistance of $350. The price turned down from $345 on April 26 and slumped to the 50-day SMA on April 28.

The bulls are buying the dips to the 50-day SMA and the bears are selling near the resistance line. The flattening 20-day EMA And the RSI near the midpoint suggest a balance between supply and demand.

However, this tight-range trading is unlikely to continue for long. If the price rebounds off the current level and soars above the resistance line, it will suggest that the bulls have overpowered the bears. That could open the doors for a potential rally toward $400.

On the other hand, if the price falls below the 50-day SMA, it will suggest that the uncertainty of the tight range has resolved in favor of the bears. The BNB/ USD pair may then dive to $300 and later to $280.

Previous Analysis...

Buyers tried to propel the price above the 20-day EMA on April 29 but they could not sustain the higher levels as seen from the long wick on the day’s candlestick.

The moving averages are on the verge of a bearish crossover and the RSI has dipped below 44, indicating that bears have the upper hand.

The bears will try to yank the price below the critical support at $0.43. If they succeed, the selling could intensify and the XRP/USD pair may collapse to $0.40 and later to $0.36.

XRP broke below the immediate support at $0.44 on April 26 but the bulls aggressively purchased the dip as seen from the long tail on the day’s candlestick.

This bearish view will be invalidated in the near term if the price breaks and closes above the 20-day EMA. The pair may then surge toward $0.54.

Previous Analysis...

the decline.

The 20-day EMA has started to turn down and the RSI is just below the midpoint, indicating that the bears have a slight edge. If the 50-day SMA gives way, the ADA/USD pair could drop to $0.37.

This level may again act as a support but if it cracks, the selling could accelerate and the pair may descend to $0.33.

Cardano bounced off the 50-day SMA on April 26 but the bulls could not clear the overhead hurdle at the neckline of the inverse head and shoulders pattern. The price turned down and has reached the 50-day SMA where the bulls will try to arrest

The neckline remains the key level to watch for on the upside. A break and close above it will suggest that bulls are back in the game. The pair may then climb to $0.46.

Previous Analysis...