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Cryptocurrency Market Overview - 17 May 2021

Source: Wisebitcoin 2021-05-17

 

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  BTCUSD

TECHNICAL VIEW 

 

 

BTC May 17 2021

As could be seen on the chart above that the pair is trading below a strong resistance level of 43288.56. Therefore, we are bearish as long as the pair is trading below it. Our first target is 43288 followed by 42000. On the other hand, if the level of 43288 is broken, the pair might continue going upwards to reach 47247 followed by 51287.

 

Important Support and Resistance levels

Resistance Levels Support Levels
53432.43 43288.56
51287.40 42000.00
47247.35 40000.00

Recommended:

We are bearish as long as the pair is trading below the level of 47247.35

 

 

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  ETHUSDT

TECHNICAL VIEW 

 

 

eth may 17 2021

As could be seen on the chart above that the pair is trading below a strong resistance level that is 3862. Therefore, we are bearish as long as the pair is trading below it. Our first target is 3178 followed by 2945. On the other hand, if the level of 3862 is broken, the pair might continue going upwards to reach 4000 followed by 4149.

 

Important Support and Resistance levels

Resistance Levels Support Levels
4367.00 3178.33
4149.00 2945.30
3862.00 2763.25

Recommended:

We are bearish as long as the pair is trading below 3862.

 

 

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  XRPUSDT    

TECHNICAL VIEW 

 

 

xrp 17 may 2021

The chart above shows that the pair is trading below a strong resistance level that is 1.6723. Therefore, we are bearish as long as the pair is trading below it. Our targets: 1.2100 followed by 1.0000. On the other hand, if the level of 1.6723 is broken, the pair might go upwards to reach 1.7000 followed by 1.7500.

 

Important Support and Resistance levels

Resistance Levels Support Levels
1.8000 1.2100
1.6723 1.1000
1.5395 1.0000

Recommended:

We are bearish as long as the pair is trading below 1.6723.