Price analysis 5/11: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

2 years ago

The situation with Terra’s stablecoin TerraUSD (UST) and the freefall successful Terra’s LUNA token has dented crypto sentiment further. Although Terraform Labs CEO Do Kwon announced a alleviation plan, the assemblage does not look excessively hopeful astir the revival.

Another hindrance to a speedy betterment successful sentiment is that the United States consumer terms scale soared 8.3% from a twelvemonth ago, outpacing estimates by 0.2%. Although the numbers are a tad spot little than March’s 8.5% print, the dilatory deceleration suggests nary respite from much tightening by the U.S. Federal Reserve.

Although the surface looks scary during capitulation, it besides offers 1 of the champion times to spell against the herd and accumulate fundamentally beardown cryptocurrencies astatine a bargain. Traders should not beryllium successful a hurry to drawback a falling weapon but hold for the terms to stabilize and the capitulation to extremity earlier buying successful a phased manner.

What are the cardinal levels connected Bitcoin (BTC) and large altcoins that could pull buyers? What are the cardinal absorption levels connected the upside that whitethorn suggest a imaginable inclination change? Let’s survey the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

Bitcoin fell sharply connected May 9 and attempted a betterment from the intelligence level astatine $30,000 connected May 10. The agelong wick connected the day’s candlestick shows that bears are not consenting to easiness disconnected and they proceed to merchantability connected insignificant rallies.

The bears tried to physique upon their vantage connected May 11 but the bulls are defending the captious level astatine $28,805 with each their might. This is an important level to ticker retired for due to the fact that if it cracks, the selling could intensify. The BTC/USDT brace could past descent to $25,000 and aboriginal to $20,000.

Although downsloping moving averages bespeak vantage to sellers, the comparative spot scale (RSI) successful the oversold territory suggests that a alleviation rally oregon consolidation is possible.

If the terms rises from the existent level, it could scope the 20-day exponential moving mean ($36,214). This is an important level to support an oculus connected due to the fact that if the terms turns down from it, the bears volition again effort to descend the brace beneath $28,805.

Alternatively, if bulls propulsion the terms supra the 20-day EMA, the brace could rally to the 50-day elemental moving mean ($40,792).

ETH/USDT

Ether (ETH) has reached the beardown enactment level astatine $2,159. The bulls are apt to equine a beardown defence astatine this level due to the fact that if the enactment cracks, the selling could prime up momentum.

If the bounce sustains, the bulls volition effort to propulsion the terms to the 20-day EMA ($2,698). In a downtrend, the bears usually effort to stall the alleviation rallies astatine the 20-day EMA, hence this becomes an important level to ticker retired for.

If the terms turns down from the 20-day EMA, it volition suggest that sentiment remains antagonistic and traders proceed to merchantability connected rallies. The bears volition past again effort to descend the ETH/USDT brace beneath $2,159. If they succeed, the brace could plummet to $2,000 and aboriginal to $1,700.

BNB/USDT

Binance Coin (BNB) witnessed a crisp autumn connected May 9 and broke beneath the beardown enactment astatine $320. The bulls tried to propulsion the terms backmost supra the breakdown level connected May 10 but the bears did not relent.

The bears resumed their selling contiguous and pulled the BNB/USDT brace beneath the contiguous enactment astatine $289. If sellers prolong the terms beneath $289, the brace prime up momentum and plummet to $250 and aboriginal to $225. The buyers are expected to equine a beardown defence successful this enactment zone.

Alternatively, if the terms turns up from the existent level, the bulls volition again effort to propel and prolong the brace supra $320. If they succeed, it volition bespeak that the markets person rejected the little levels. The brace could past emergence to $350.

XRP/USDT

Ripple (XRP) witnessed a pugnacious conflict betwixt the bulls and the bears adjacent the $0.50 level. Although bears pulled the terms beneath $0.50 connected May 9, the bulls reclaimed the level connected May 10.

The bears yet overpowered the bulls connected May 11 and resumed the downtrend. The XRP/USDT brace dropped to the beardown enactment astatine $0.40 wherever the bulls are attempting to apprehension the decline.

If the terms turns up from the existent level, the bulls volition again effort to propel the brace supra the overhead absorption portion betwixt $0.50 and $0.55. Conversely, if the terms slips beneath $0.40, the brace could witnesser further selling and driblet to $0.34.

ADA/USDT

Cardano (ADA) tumbled beneath the beardown enactment astatine $0.74 connected May 9, indicating the resumption of the downtrend. The buyers attempted a betterment connected May 10 but failed to clasp onto higher levels.

The selling resumed connected May 11 and the ADA/USDT brace dipped beneath the contiguous enactment astatine $0.58. If the terms sustains beneath this level, the brace could driblet to the intelligence level astatine $0.50 and thereafter to $0.40.

On the contrary, if the terms rises from the existent level, the bulls volition effort to propulsion the brace backmost supra the breakdown level astatine $0.74 and the 20-day EMA ($0.77). If they succeed, the betterment could prime up momentum and the brace whitethorn rally to the captious absorption astatine $1.

SOL/USDT

Solana (SOL) dropped and closed beneath the beardown enactment astatine $75 connected May 9. This signaled the commencement of the adjacent limb of the downtrend. The bulls tried to trap the assertive bears by pushing the terms backmost supra the breakdown level astatine $75 connected May 10 but the bears held their ground.

The selling resumed connected May 11 and the bears pulled the terms beneath the intelligence enactment astatine $50. If the terms sustains beneath $50, the SOL/USDT brace could widen its diminution to $44 and thereafter to $40.

Conversely, if the terms turns up from the existent level, the bulls volition marque different effort to propel the brace supra $75. If they negociate to bash that, the brace could rally to the 20-day EMA ($83).

This is an important level to ticker retired for due to the fact that a interruption and adjacent supra it could awesome that the bulls are backmost successful the game. The brace could past rally to the 50-day SMA ($101).

DOGE/USDT

Dogecoin (DOGE) broke beneath the enactment astatine $0.12 connected May 9 and nosedived to the intelligence level astatine $0.10. The buyers tried to commencement a betterment connected May 10 but deed a partition astatine the breakdown level astatine $0.12.

The bears continued their selling and pulled the terms beneath the important enactment astatine $0.10 connected May 11. If the terms sustains beneath $0.10, the DOGE/USDT brace could widen its diminution to the beardown enactment portion betwixt $0.06 and $0.04. The bulls are apt to support this enactment portion with vigor.

If bulls propulsion the terms backmost supra $0.10 quickly, it volition suggest beardown accumulation astatine little levels. The buyers volition past effort to thrust the brace supra the 20-day EMA ($0.12). If they succeed, it volition suggest that the bears whitethorn beryllium losing their grip.

DOT/USDT

Polkadot (DOT) plunged to intelligence enactment astatine $10 connected May 9 and attempted a betterment connected May 10 but the agelong wick connected the day’s candlestick shows selling astatine higher levels.

The selling resumed connected May 11 and bears pulled the terms beneath the beardown enactment astatine $10. If bears prolong the breakdown, it volition suggest the commencement of the adjacent limb of the downtrend. The DOT/USDT brace could past widen its diminution to $7.

Conversely, if the terms turns up from the existent level and rises backmost supra $10, it volition bespeak beardown buying astatine little levels. If bulls prolong the terms supra $10, the anticipation of a rally to $14 increases.

AVAX/USDT

Avalanche (AVAX) plunged beneath the captious enactment astatine $51 connected May 9 signaling the resumption of the downtrend. The buyers tried to propulsion the terms backmost supra the breakdown level connected May 10 but the agelong wick connected the candlestick shows that bears flipped the $51 level into resistance.

The AVAX/USDT brace resumed its diminution connected May 11 and dropped beneath the important enactment astatine $32 but the agelong process connected the candlestick shows beardown buying astatine little levels. The bulls are expected to support the $32 level aggressively due to the fact that if the enactment gives way, the selling could intensify and the brace whitethorn driblet to $18.

If the terms rises from the existent level, the buyers volition again effort to propulsion the brace to the breakdown level astatine $51. A interruption and adjacent supra this level could beryllium the archetypal motion that the downtrend whitethorn beryllium weakening.

SHIB/USDT

Shiba Inu (SHIB) had been declining gradually for the past fewer days. The momentum picked up connected May 9 and the terms slipped beneath the captious enactment astatine $0.000017. This signaled the resumption of the downtrend.

The buyers bought the dip adjacent $0.000013 and pushed the terms backmost supra the breakdown level astatine $0.000017 connected May 10. However, the agelong wick connected the day’s candlestick shows that bears are selling astatine higher levels and attempting to flip $0.000017 into resistance.

If the terms sustains beneath $0.000013, the selling could intensify and the SHIB/USDT brace could diminution to the intelligence level astatine $0.000010. The buyers volition person to propulsion and prolong the terms supra the 20-day EMA ($0.000020) to bespeak that the selling unit whitethorn beryllium weakening.

The views and opinions expressed present are solely those of the writer and bash not needfully bespeak the views of Cointelegraph. Every concern and trading determination involves risk. You should behaviour your ain probe erstwhile making a decision.

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