Price analysis 5/27: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

BTC/USDT

Bitcoin fell below the powerful support of $28,630 on the 26th of May but the bulls weren’t able to keep those lower prices. The long tail of the candlestick of the day shows that bulls shrewdly bought the decline.

The bulls are once again fighting to protect the level of $28,630 as it is an important number to watch closely. If the price increases from the current price and surpasses the level of 20 days exponentially moving average (EMA) ($30,868) this could indicate that the BTC/USDT exchange rate may have reached its lowest point. The pair may then rise towards the 50-day simple moving average (SMA) ($35,721).

In contrast, if the price declines from its current level or even the overhead resistance, it may indicate that there is no interest at the higher level. It could also increase the chance of a price break below $28,630. If this happens, the pair might test the critical level of $26,700. A break or close below this level may trigger selling, and the pair could fall to as low as $20,000.

ETH/USDT

Ether ( ETH) dropped and fell below the upward trend line on May 25, suggesting bears were seeking to reestablish their dominance. The selling accelerated on May 26, and it fell to below the intraday May 12 low of $1,800.

The bears try to protect the support of $1,700, but the rebound isn’t gaining any momentum. This indicates that bulls aren’t aggressively buying near the level of support. This could help the bears, who could try to pull back and hold the price at $1,700. In the event that they are successful, the USDT/ETH pair could fall to $1,300.

If bulls are able to maintain the support of $1,700, it could move up to $2,159. The pair could remain in a range between $2,159 and $1700 for a few more days.

BNB/USDT

The long wick of BNB’s candlestick on May 25 indicates how bears have sold off rising prices that are close to the overhead resistance that is critical at $350. The selling continued through May 26 when BNB’s price dropped below its 20-day EMA ($320).

There is a small support of $286 at which the bulls will try to stop the fall. When they do succeed, it would signal that the mood has changed from buying on rallies , to buying dips. The bulls will attempt to push the price up to $350.

In the other case, if the price drops lower than $286 it could suggest that the bulls who could have been trapped by buying the price above $320 and are now exiting their positions. This could lower the BNB/USDT currency pair to $260.

XRP/USDT

Ripple ( XRP) fell below the support level in the range of $0.38 the 26th of May. However, the long tail of the day’s candlestick indicates strong buying in lower prices. Buyers will attempt get the market to move towards the downward trend line.

If the price falls from the downward trend line, the bears will attempt to bring the XRP/USDT exchange to below $0.38. If this happens, the price could slide to the intraday low of $0.33 in which case the bulls are likely to put up an effective defense. The bears must lower the price lower than this support level to signal the return of the trend.

However should bulls can push the price over the downward trend line, the price could rise up to levels of the 20 day EMA ($0.44). The EMA could again serve as a resistance that is strong, however when bulls are able to break through this barrier, it could be able to reach the psychological threshold of $0.50.

ADA/USDT

Its ( ADA) trading in a tight range in the range of $0.49 and $0.56 was reverted to the lower side on the 26th of May. The bulls have been trying to protect the lower support of $0.46 however, failing this, the price could fall to $0.40.

The moving averages that are downsloping and the RSI close to the territory of oversold indicate that bears are in control. If bears continue to sink and keep the price at or below $0.40 The selling may increase in momentum and the ADA/USDT currency pair could plunge to $0.33.

If, on the other hand, the price rises from the current price or even the support this will indicate that there is a lot of buying in lower levels. The bulls will attempt to get the price to rise above its twenty-day EMA ($0.56). Should they achieve this, the price could be able to rally to $0.61 and then to $0.74.

SOL/USDT

Solana ( SOL) was able to break below the immediate support of $47 on May 26 , suggesting that traders who purchased at lower levels are now closing their positions. This is opening the way for dropping to the key support level of $37.37.

If the price rises above $37.37 and the buyers try to push the price towards $20. EMA ($55). This is a critical price for bears to protect because a break or closing above it could suggest that the USDT/SOL pair could have reached its bottom. The pair may then try an upswing to the overhead resistance around $75.

In the other case, if bears drop the price to below $37.37 and it suggests that the trend is resuming. The price could increase its fall to the next resistance at $32.

DOGE/USDT

DOGE’s ( DOGE) tight-range trading reverted to the negative on May 26. bears pushed the price down to $0.08. This suggests that supply is higher than demand.

If bears can keep the price at $0.08 The DOGE/USDT currency pair may fall to the crucial support of $0.06. Since this level served as a strong resistance the previous day, bulls might try to protect it. If the level is held it, the pair may move towards its twenty-day EMA ($0.09).

A different possibility could be that bulls continue to push the price to $0.08 this could indicate the market is in demand, even at lower levels. Buyers will then attempt to move the price towards an EMA of 20 days. EMA. If the price breaks and closes above this resistance would indicate that bears could have lost their control. The pair may then rise towards the psychological resistance of $0.10.

DOT/USDT

Its ( DOT) inability to sustain and climb above the break-even point at $10.37 caused traders to sell their shares. The bears pushed the price down below the initial support that was $9.22 in May 26,, however, they struggle to hold the lower levels.

The price bounced back off the initial support level of $8.56 And the bears may be trying to get over the obstacle at twenty-day EMA ($10.88). If they can do this, it could indicate that the downtrend could be slowing.

Contrary to this however, if the price is able to turn down again from an overhead resistance bears will attempt to push the DOT/USDT exchange below $8.56. If they succeed then the next stop may be $7.30.

The bulls will likely fight for this level with a lot of force, but should they do not succeed then the pair may begin the next phase of the downward trend.

AVAX/USDT

The Avalanche ( AVAX) was lower, but it fell to below the crucial resistance of $23.51 on the 26th of May. This signals the return of the downward trend.

Even though the moving averages with a downward slope favor bears but the RSI within the oversold region suggests a rally relief and/or consolidation short term. If the price rises and goes above $23.51 it could catch a few bears who are aggressive which could result in a brief squeeze. This could cause the AVAX/USDT currency pair towards an all-time high of the twenty-day EMA ($34).

In the other case, if bears hold the price under $23.51 then the selling may gain momentum and the price could fall to the psychological resistance of $20.

SHIB/USDT

Shiba Inu ( SHIB) remains under pressure. While bulls are trying to defend the price at $0.000010 The rebound is not showing force. This indicates a lack of demand at the current levels.

The bears will try to lower the price below $0.000010 and if they are successful the pair of SHIB/USDT could slide to the support level at $0.000009. This is a key place to be watching since a break or close below it could signal the return of the downward trend. The pair may then fall towards $0.000007.

If the $0.000010 level is held then the pair can increase towards the twenty-day EMA ($0.000013). The EMA could act as a resistance , however when reached, an upward trend could go to $0.000017.

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