EXCHANGE

PROMOTION

PARTNERSHIP

NEWS & RESEARCH

Market Research

Market Research

Cryptocurrency Market Overview - 12 May 2022

Source: Wisebitcoin 2022-05-12

 

logo

  BTCUSD

TECHNICAL VIEW 

 

 

btc chart may 12 2022

Update: No changes! As can be clearly seen on the chart above, Bitcoin has reached a strong support level that is 29000. There could be active buyers around that level. Therefore, we could be bullish as long as the pair is trading above it with targets of 34000 – 36000. On the other hand, a close below 29000 would push the pair downwards so that it might reach 27500 – 26263.

 

Important Support and Resistance levels

Resistance Levels Support Levels
40000.00 29000.00
36000.00 27500.00
34700.00 26263.00

Recommended:

Bullishness above 29000.

 

 

logo

  ETHUSDT

TECHNICAL VIEW 

 

 

may 12 etc chart 2022

Update: No changes! The pair reached a strong support level that is 2100. Therefore, we are bullish as long as the pair trades above it, with targets of 2600 – 2800.   On the other hand, if the level of 2100 is broken, the pair might reach 2000 followed by 1800.

 

Important Support and Resistance levels

Resistance Levels Support Levels
3000.00 2100.00
2800.00 2000.00
2600.00 1800.00

Recommended:

Bullishness above 2100.

 

 

logo

  XRPUSDT    

TECHNICAL VIEW 

 

 

xrp chart may 12 2022

Update: The 0.5000 level has been broken! The chart above shows that the pair trades above a strong support level that is 0.5000. Therefore, we are bullish as long as the pair trades above it with targets of: 0.6000 followed by 0.8000. On the other hand, a close below 0.5000 (two days) would push the pair downwards so that it might reach 0.4500 – 0.4000.

 

Important Support and Resistance levels

Resistance Levels Support Levels
0.9000 0.5000
0.8000 0.4500
0.6000 0.4000

Recommended:

Bearishness below 0.6900.