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Cryptocurrency Market Overview - 18 May 2022

Source: Wisebitcoin 2022-05-18

 

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  BTCUSD

TECHNICAL VIEW 

 

 

btc chart 2022 may 18

The chart above shows that the pair is trading above a strong support level that is 28000. Therefore, we are bullish as long as the pair is trading above it with targets: 34000 – 35000. On the other hand, a weekly close below 28000 would open the door for the pair to reach 26500.

 

Important Support and Resistance levels

Resistance Levels Support Levels
39000.00 28000.00
37000.00 26500.00
34000.00 25800.00

Recommended:

More bullishness above 28000.

 

 

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  ETHUSDT

TECHNICAL VIEW 

 

 

eth chart may 18 2022

The chart above shows that the pair is trading above 1700. Therefore, we are bullish as long as the pair is trading above it with targets: 2300. On the other hand, if the level of 1700 is broken, the pair might reach 1550 followed by 1450. 

 

Important Support and Resistance levels

Resistance Levels Support Levels
2650.00 1700.00
2500.00 1550.00
2300.00 1450.00

Recommended:

We are bullish as long as the pair is trading above 1700.

 

 

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  XRPUSDT    

TECHNICAL VIEW 

 

 

xrp chart may 18 2022

The chart above shows that the pair is trading below a strong resistance level that is 0.5700. Therefore, we are bearish as long as the pair is below it. Targets: 0.4000 – 0.3000. 

 

Important Support and Resistance levels

Resistance Levels Support Levels
0.6200 0.4000
0.6000 0.3500
0.5700 0.3000

Recommended:

We are bearish as long as the pair is below 0.5700.