Bitcoin still yet to experience a significant move, stuck below $30,000

News • 2022/05/18 • by

Bitcoin / US Dollar

On the 17th of May, we see that the bulls responded to previous bearish action, resulting in a 1.92% rise in the Bitcoin price, bringing it to $30,412 per coin. However, we see the bears take an immediate response at the start of the 18th of May, bringing the Bitcoin price back below the $30,000 price mark, significantly below its 50-day moving average of $38,621 per coin. With the above, the Bitcoin market fell by 1.89% on the 18th of May, bringing its price to $29,837 per coin and maintaining the market in a downtrend.

Indicators

With the bullish action on the 17th of May, the Bitcoin relative strength index increased to 35; however, the bearish action on the 18th of May has caused the RSI to fall to 33. With an RSI value below 50, the market momentum remains in the control of the bears.
The MACD remains below the zero line, indicating bearish dominance; however, the histogram though below the zero line, shows decreasing bearish activity in the market.

Buy and sell BTC on Remitano

Ethereum / US Dollar

The ETH market remains in a downtrend as it stands well below its 50-day moving average of $2,849. On the 17th of May, the bulls dominated the market, influencing a 3.38% rise in the ETH price to stand at $2,088 per coin. On the 18th of May, we see bearish activity, resulting in a 3.00% fall in the ETH price, bringing it to $2,026 per coin. With the market still distant from its close, we likely would see a change in the volatility.

Indicators

The RSI of the ETH market remains below the 50 mark, indicating the dominance of the bears in the market. With the above, the bullish action on the 17th of May resulted in an RSI of 34, while the bearish action on the 18th of May resulted in the RSI falling to 33.
The histogram shows bearish reducing activity in the market but together with the MACD, both still stand below the zero line, indicating bearish market dominance.

Buy and sell ETH on Remitano

Ripple / US Dollar

The Ripple bulls gained control of the market on the 17th of May, resulting in the XRP price increasing by 3.80%, translating to an asset price of $0.437 per coin. Following the bullish dominance of the previous day, we see the bears initiating a momentum on the 18th of May, resulting in a 2.57% drop in the market price, translating to $0.425 per coin. As with several other cryptos, the Ripple market remains below its 50-day moving average, maintaining the market in a downtrend.

Indicators

With the bullish momentum on the 17th of May, the Ripple RSI increases to stand at 33, while the bearish start on the 18th of May shows the RSI falling to 32.
The histogram shows reducing bearish activity though still in bearish control, while the MACD shows bear dominance of the overall market momentum, creating a negative outlook for the asset.

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

Litecoin / US Dollar

The litecoin market experienced significant growth in price on the 17th of May, resulting in an 8.80% growth in price, translating to $73 per coin. As a response, the bears initiated a momentum on the 18th of May, resulting in a 1.86% drop in the LTC price, translating to $71 per coin. We will likely see increased volatility with the market yet to close, subjecting these current values to change.

Indicators

The relative strength index of the Litecoin market stands below the 50 mark, indicating that the bears are in control of the market. With the above statement, the RSI on the 17th and 18th of May stands at 37 and 36. In correlation, we see the MACD and histogram below the zero line, indicating the bearish dominance and a negative outlook for the asset.

Buy and Sell LTC on Remitano

Bitcoin Cash / US Dollar

On the 17th of May, the bulls dominated the market, resulting in the market increasing by 4.74%, translating to $206 per coin with the above move. We see the bears responding on the 18th of May, resulting in a 3.57% drop in the Bitcoin Cash price to $199 per coin. The highest and lowest Bitcoin cash price stands at $208 and $199, respectively. The Bitcoin Cash market remains in a downtrend as its token value remains below its 50-day moving average of $298.

Indicators

The BCH relative strength index portrays a market in bearish control with a value below the 50 mark. On the 17th of May, the bullish action resulted in an RSI of 34, while the bearish action on the 18th of May resulted in an RSI of 32.
The MACD and histogram remain below the zero line, maintaining the bears in control and a negative outlook for the Bitcoin Cash market.

Buy and sell BCH on Remitano

Cardano / US Dollar

The ADA market remains below its 50-day moving average of $0.866, maintaining that the bears control the market sentiment.
On the 17th of May, the bulls began a momentum, resulting in a 3.76% rise in the market, bringing the ADA price to $0.577 per coin. On the 18th of May, we see the bears initiating a momentum resulting in the ADA price dropping by 4.40%, bringing its price to $0.551 per coin.

Indicators

On the 17th of May, the bullish activity saw the RSI rise to 37, while the bearish activity on the 18th of May resulted in an RSI of 36. With the RSI below 50, the market remains in bearish dominance.
The MACD and histogram show a bearish dominance, placed below the zero line, creating a negative asset for the market.

Swap to ADA

Dogecoin / US Dollar

On the 17th of May, the bulls initiated a momentum, resulting in a 2.50% rise in the Dogecoin price, translating to $0.090 per coin. The highest and lowest Dogecoin trading prices for the day stood at $0.091 and $0.081, respectively.
At the start of the 18th of May, we see bearish action, resulting in a 3.00% drop in the Dogecoin price, bringing its price to $0.087 per coin, with the highest and lowest trading prices standing at $0.090 and $0.087, respectively.

Indicators

On the 17th of May, the bullish action resulted in an RSI of 34, while the bearish action on the 18th of May resulted in an RSI of 33. With the above values, the Dogecoin market remains in bearish control.
The MACD and Histogram show a bearish dominance, as both indicators are placed below the zero line, creating a negative asset for the market.

Swap to DOGE