Bitcoin (BTC) Price Consolidation, Ethereum (ETH) Predictions After EFF Approvals, and More: Bits Recap May 27

TL; DR

BTC experienced volatility last week but has stabilized and is currently sitting around $68,500, with some analysts predicting new ATHs. Despite the short fall, ETH has bounced back and is trading above $3,900, up 36% in two weeks. Analysts expect further rallies, especially if the asset continues its momentum above key levels. Influenced by technical indicators and ongoing legal proceedings with the SEC, XRP may head north.

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How is BTC working?

The leading cryptocurrency encountered. Improved Volatility over the past few weeks has seen it rise from around $61,000 on May 14 to $71,000 on May 21. The parade It has been stopped In price adjustment, which one In the year On May 24th, he pushed the property below the $67K mark. Soon, however, BTC regained some lost ground and has been trading around $68,500-$69,300 ever since.

Although it is going on Slow downMany analysts believe that the property can expect huge profits in the near future. One example is the controversial X user Titan of Crypto. That “breakdown”. is it. Earnings Once BTC crossed the resistance zone around $69,000.

in the past That, the analyst analyzed the Fibonacci extensions on the asset price chart Predict A new all-time high in the $173,000 to $224,000 range.

Such extensions are Certain Tools used in technical analysis to predict future value targets based on the Fibonacci sequence. They can help identify traders. Key Levels to observe possible price changes, thereby helping in better decision making.

What about ETH?

The second largest digital asset by market capitalization – Ethereum – has recently become one of the hottest topics in the cryptocurrency space. The price rose from $3,100 on May 21 to $3,900 on May 23. Hopes appeared again The United States Securities and Exchange Commission (SEC) can approve spot ETFs.

The official green light It happened On May 24, after that the price of the property dropped below $3,700. However, the bulls came in over the weekend, with ETH currently trading at approximately $3,910 (per CoinGecko data), a 4% daily gain and a 36% gain in two weeks.

Many analysts believe that asset prices are about to start a significant rally. X user Rekt Capital said ETH “spent a lot of time” around the $2,791 level. led by history It went up to $4,000. The analyst Listed. A weekly close in the $3,250-$3,500 range “provides bulls regain momentum,” their May 26 forecast said. Note that ETH closed the week well above the visible level.

XRP Price Outlook

Ripple's native cryptocurrency has seen some price volatility in the past week, hovering between $0.50 and $0.54., It currently stands at $0.52 (CoinGecko data).

With the asset up just 2% on a 30-day basis, many analysts predict a bull run in the coming months. One example is JAVON MARKS who. proposed that It is the breakdown of bullying. In the cards, due to XRP approaching a “major rally point” and an “currently bullish RSI pattern”.

Relative Strength Index (RSI) It is an indicative measure Speed ​​and change of price movements. An RSI above 70 indicates that the coin is overbought and may be due to a price correction. Latest data It shows As the ratio was On failure Last week he was now pointing at 41.

One important factor that could affect the price of XRP is the possible resolution of the lawsuit between Ripple and the US SEC. The lawsuit has dragged on for more than three years, and the case entered the trial phase last month. For those interested in learning more about it and its impact on property value, feel free to watch our dedicated video below.