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Cryptocurrency Market Overview - 11 May 2022

Source: Wisebitcoin 2022-05-11

 

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  BTCUSD

TECHNICAL VIEW 

 

 

btc candle chart may 11 2022

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 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.

 

 

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  ETHUSDT

TECHNICAL VIEW 

 

 

etc chart may 11 2022

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.

 

 

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  XRPUSDT    

TECHNICAL VIEW 

 

 

xrp chart may 11 2022

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 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.