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Cryptocurrency Market Overview - 25 May 2021

Source: Wisebitcoin 2021-05-25

 

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  BTCUSD

TECHNICAL VIEW 

 

 

btc may 25 2021

As could be clearly seen on the chart that the pair is firmly trading above a strong support level that is 30132. Therefore, we will be bullish as long as the pair is trading above it. Our targets: 40000 followed by 42373. On the other hand, if the level of 30132 is broken, the pair might continue going downwards to reach 28957.

 

Important Support and Resistance levels

Resistance Levels Support Levels
47759.00 30132.00
42373.00 28957.00
40000.00 25000.00

Recommended:

We are bullish as long as the pair is trading above 30132. (Keep an eye on the alternative scenario)

 

 

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  ETHUSDT

TECHNICAL VIEW 

 

 

eth may 25 2021

The chart above shows that the pair is trading above a strong support level that is 1975 (supported by a bullish engulfing pattern). Therefore, we are bullish as long as the pair is trading above it. Our first target is 2800 followed by 2992. However, if the level of 1975 is broken, the pair might continue going downwards to reach 1771 followed by 1600.

 

Important Support and Resistance levels

Resistance Levels Support Levels
3000.00 1975.00
2992.00 1771.00
2800.00 1600.00

Recommended:

We are bullish as long as the pair is trading above 1975.

 

 

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  XRPUSDT    

TECHNICAL VIEW 

 

 

xrp may 25 2021

We could clearly detect a bullish engulfing pattern that might push the pair upwards as long as it is trading above 0.7000. Therefore, we will be bullish as long as the pair is trading above 0.7000. Our targets: 1.1000 followed by 1.2000. On the other hand, if the level of 0.7000 is broken, the pair might go downwards to reach 0.6660.

 

Important Support and Resistance levels

Resistance Levels Support Levels
1.2540 0.7000
1.2000 0.6660
1.1000 0.6000

Recommended:

We are bullish as long as the pair is trading above 0.7000.