BTC rebounded after dropping near its realized price of $24,000, suggesting that some bulls went against the herd and bought at the dip.
BTC
Bitcoin bounced off $26,700 and formed a Doji candlestick pattern. This suggests that the selling pressure could be dropping. The recovery picked up steam and bulls pushed the price above the psychological level at $30,000. The relief rally may face resistance near $33,000 and again at the 20-day EMA of $34,903. If the price turns down from the overhead resistance, the bears will make another attempt to sink BTC below $26,700 and restart the downtrend.
ETH
ETH broke below the $2,159 support on May 11 and later slipped below the psychological level at $2,000. The bulls bought at the dip of $1,800, which has started a relief rally. The buyers will now attempt to push the price above the breakdown level at $2,159. If they are successful ETH could pick up momentum and rally to the 20-day EMA of $2,554.
BNB
BNB fell sharply but the long tail on the day’s candlestick shows that bulls are aggressively defending the critical support at $211. This started a relief rally that has reached the $350 to $320 resistance zone. If bulls drive the price above $350, it will suggest that the decline may be over.
XRP
XRP plummeted to $0.33 when buying emerged. The bulls are attempting a recovery that is likely to face stiff resistance at the psychological level at $0.50. If the price turns down from $0.50, the bears will again attempt to pull XRP to $0.33.
ADA
ADA plunged to $0.40 , which pulled the RSI into the deeply oversold territory. The buyers bought at this dip and are attempting to start a relief rally. ADA could rise to the breakdown level at $0.74, which is an important level to keep an eye on.
SOL
SOL has been in a strong downtrend for the past few days. The price dipped to $37, which pulled the RSI deep into the oversold territory. This started a relief rally and the bulls are likely to encounter selling in the zone between the 38.2% Fibonacci retracement level at $59 and the 50% retracement level at $66. If the price turns down from this zone, the bears will attempt to resume the downtrend by pulling the pair below $37.
