Bitcoin bears sustain the BTC price below the $30,000 price mark

News • 2022/05/16 • par

Bitcoin / US Dollar

With the significant bearish action over the last seven days, the bulls initiated a move to get the Bitcoin market back on the right track with a 2.77% increase on the 14th of May, resulting in a Bitcoin Price tag of $30,041.
On the 15th of May, we see a continuance of the previous bullish momentum, resulting in a 4.15% rise, taking the Bitcoin price to $31,290 per coin.
In response to consecutive days of bullish action, we see the bears initiate a momentum on the 16th of May, taking the Bitcoin price back below $30,000 at the time of writing to $29,511, a 5.68% drop in price.

Indicators

With the bullish action on the 14th and 15th of May, the Bitcoin market successfully broke out of an oversold market with corresponding relative strength index values of 30 and 36. The bearish start on the 16th of May shows a steep decline in the RSI, heading back to the oversold region at an RSI value of 32.
In correlation to the RSI, the MACD and histogram still stand below the zero line, indicating bearish market dominance and an overall negative outlook for the market.

Buy and sell BTC on Remitano

Ethereum / US Dollar

The ETH market remains well below its 50-day moving average of $2,901, indicating the market is still in a downtrend. In an attempt to revive the ETH market, we see consecutive bullish action on the 14th and 15th of May, with these days experiencing a 2.39% and 4.35% rise in the ETH price to $2,053 and $2,143, respective. In response to the bullish action, we see bearish momentum on the 16th of May, influencing a 6.16% drop in the ETH price, translating to $2,010 per coin.
With the market still far from its close, we will likely see more volatility in the market.

Indicators

With the bullish action on the 14th & 15th of May, the relative strength index of the market showed a consecutive increase, corresponding to 30 and 34, respectively. However, the bearish action on the 16th of May has resulted in the RSI falling to 31, heading towards an oversold market.
The MACD and histogram indicate a bearish outlook for the market as they remain below the zero line.

Buy and sell ETH on Remitano

Ripple / US Dollar

On the 14th of May, the bullish action in the market resulted in a contested 0.98% rise in the Ripple market, corresponding to an asset price of $0.425 per coin. We see the bulls continuing their previous momentum on the 15th of May, resulting in a 5.14% rise in the XRP market, bringing the price per coin to $0.447.
At the start of the 16th of May, the bears are responding to previous bullish action, resulting in a 6.37% decrease in the Ripple price, translating to $0.419 per coin. With the market still in its early hours, more volatility is expected in the day.

Indicators

With the bullish action on the 14th and 15th of May, the RSI shows a rise corresponding to 28 and 32. In contrast, the bearish action on the 16th of May has resulted in a fall in the relative strength index to 30.
The histogram and the MACD shows bearish dominance of the market as they both stand below the zero line, portraying a negative outlook for the asset.

[Buy and sell XRP on Remitano](https://remitano.com/xrp/

Litecoin / US Dollar

The Litecoin market continued its bullish move on the 14th of May, resulting in a 1.52% rise in the LTC price to $68 per coin.
On the 15th of May, continued bullish sees a 3.91% rise in the LTC price to $71 per coin.
In response to previous bullish action, we see the Litecoin market fall by 7.93% on the 16th of May, bringing its price per coin to $65 per coin, while the highest and lowest price stands at $71 and $64 per coin.

Indicators

On the 14th and 15th of May, the bullish action resulted in the relative strength index rising, corresponding to 29 and 32. In contrast, the bearish action on the 16th of May resulted in the Litecoin relative strength index falling to 29, back into the oversold region.
The MACD and histogram stand below the zero line, indicating bearish dominance of the market and a negative outlook for the market.

Buy and Sell LTC on Remitano

Bitcoin Cash / US Dollar

On the 14th of May, the bulls initiated a momentum that saw the Bitcoin Cash market rise by 3.23%, bringing the asset's price to $208 per coin. On the 15th of May, the bulls continued their previous momentum, resulting in a 2.92% rise in the market, placing the Bitcoin Cash price at $214 per coin.
Following the bullish dominance of the previous day, we see significant bearish action resulting in the Bitcoin Cash price falling by 6.39% on the 16th of May, bringing the assets price to $200 per coin.

Indicators

The bullish action on the 14th and 15th of May has resulted in the RSi getting above the oversold region to stand at 31and 34, respectively. On the 16th of May, the bearish action resulted in the RSI heading back towards the oversold region at 31.
The histogram and MACD portray a market still in a bearish grasp as they stand below the zero line, creating a negative outlook for the market.

Buy and sell BCH on Remitano

Cardano / US Dollar

The ADA market sees consecutive bullish action on the 14th and 15th of May, indicating bullish progress in getting the market towards its 50-day moving average. We see the ADA market increase by 1.70% and 11.34%, corresponding to $0.537 and $0.598, respectively.
At the start of the 16th of May, the bears are responding to the previous momentum, resulting in a 4.41% drop, translating to $0.571 per coin. With the market still far from its close, the above value is likely to change. Nevertheless, as of the writing of this piece, the highest and lowest ADA prices stand at $0.613 and $0.550, respectively.

Indicators

On the 14th and 15th of May, significant bullish action sees the relative strength rise to 31 and 38, while the bearish action on the 16th of May has resulted in the RSI falling to 36. The market remains in bearish control with a relative strength index below 50. The histogram and MACD remain below the zero line, indicating bearish dominance of the market momentum and a negative outlook for the market.

Swap to ADA

Dogecoin / US Dollar

The Dogecoin market experienced a 1.48% rise in the Dogecoin price on the 14th of May, resulting in $0.089 per coin. With the bullish continuance on the 15th of May, we see the Dogecoin market increase by 4.26%, translating to $0.093 per con.
At the start of the 16th of May, we can see a bearish response, resulting in a 5.05% drop in the Dogecoin price, bringing its price to $0.088 per coin, with the highest and lowest trading prices standing at $0.093 and $0.085, respectively.

Indicators

The bullish action on the 14th and 15th of May resulted in the RSI rising to 32 and 35, respectively, while the bearish action on the 16th of May resulted in the RSI falling to 33. With the above figure, the market remains in bearish dominance.
The MACD and histogram remain below the zero line, indicating bearish control of the market momentum.

Swap to DOGE