Bitcoin experienced significant bullish action on the 4th of May

Indicators

Though the Bitcoin relative strength index remains below the 50 mark, significant bullish action on the 4th of May sees its progress towards the 50th mark. On the 3rd and 4th of May, the relative strength index stands at 38 and 45.
The MACD and histogram remain below the zero line, indicating bearish control of the market momentum and a negative outlook for the asset.

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Ethereum / US Dollar

The ETH market experienced bullish action on the 4th of May, resulting in the market rising by 1.82%, translating to $2,831 per coin, reflecting a bullish attempt at getting the ETH market towards its 50-day moving average of $3,069.
While on the 3rd of May, the bears are seen initiating a momentum to bring the ETH farther away from its 50-day moving average, resulting in a 2.66% drop in the ETH price, translating to $2,780 per coin, with the highest and lowest price points being $2,861 and $2,753.

Indicators

With the relative strength index of the Ethereum market being still below the 50 mark, the bears remain in control of the market momentum.
On the 3rd of May, the bearish action dropped the RSI to 40.87, while the bullish action on the 4th of May resulted in an RSI rise to 43.82.
The MACD and histogram remain below the zero line, indicating bearish dominance of the market momentum.

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Ripple / US Dollar

The above chart shows the Ripple market in firm control of the bears as the market remains in a downtrend, maintaining the market below its 50-day moving average of $0.756 per coin. With the above statement, the bearish dominance over the Ripple market continued on the 3rd of May, resulting in a 1.60% drop in the Ripple price, bringing the XRP price to $0.604 per coin. On the 4th of May, the bullish action initiated resulted in the market rising by 1.92%, corresponding to a price tag of $0.616 per coin, with the highest and lowest prices being $0.620 and $0.604 per coin.

Indicators

With the bears being the dominant force in the Ripple market, the relative strength index remains below 50. We see a reflection on the RSI values on the 3rd and 4th of May as 31 and 34, placing the market in the oversold region.
In correlation to the RSI, the histogram and MACD indicate a market is bearish as both indicators stand below the zero line, indicating a negative outlook for the asset.

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Litecoin / US Dollar

On the 3rd of May, the bearish action resulted in the LTC market dropping by 1.29%, bringing the Litecoin price to $99 per coin.
On the 4th of May, the bulls are seen initiating a response to previous bearish action, influencing a 3.14% rise in the LTC price, translating to $102 per coin. With much time before the end of the day, the bulls may aim to sustain their momentum and challenge the 50-day moving average of $113 per coin.

Indicators

Due to the dominance of negative price action in the market, the relative strength index of the LTC market remains below the 50 mark, with its values on the 3rd and 4th of May standing at 40 and 45, respectively. With the above, the bears remain in control of the market momentum.
In agreement with the RSI, the MACD shows bearish activity in the market, providing a negative outlook for the asset. The histogram shows a shift in the momentum, showing a gradual growth in the bullish action.

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Bitcoin Cash / US Dollar

The Bitcoin Cash market experienced more bullish momentum compared to bearish action. On the 3rd of May, the bears gained market control after rejecting a bullish head start to the day, resulting in the market falling farther below its 50-day moving average of $332 per coin. The Bitcoin cash market fell by 1.99%, translating to $279 per coin with the above move. We see bullish action on the 4th of May, resulting in a 3.84% rise in the Bitcoin Cash price to $290 per coin. The highest and lowest Bitcoin price stood at $290 and $278, respectively.

Indicators

The BCH relative strength index portrays a market in bearish control with a value below the 50 mark. On the 3rd and 4th of May, the price action resulted in the relative strength index fluctuating between 35 and 41, respectively.
The MACD and histogram remain below the zero line, maintaining the bears in control and a negative outlook for the Bitcoin Cash market.

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Cardano / US Dollar

The ADA market remains below its 50-day moving average of $0.976, maintaining that the bears control the market momentum.
On the 3rd of May, the bears began a momentum, resulting in a 1.22% drop in the market, bringing the ADA price to $0.771 per coin. On the 4th of May, we see the bulls initiating a momentum resulting in the ADA price rising by 5.65%, bringing its price to $0.814 per coin.

Indicators

On the 3rd of May, bearish price action saw the relative strength index drop to 32.57, and with the bullish momentum on the 4th of May, we see the RSI rise to 40.
The MACD and Histogram show a bearish dominance, as both indicators are placed below the zero line, creating a negative asset for the market.

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Dogecoin / US Dollar

The bears initiated a momentum on the 3rd of May, resulting in a 0.99% drop in the Dogecoin price, translating to $0.129 per coin. The highest and lowest Dogecoin trading prices for the day stood at $0.132 and $0.126, respectively.
At the start of the 4th of May, we see bullish action, resulting in a 2.55% rise in the Dogecoin price, bringing its price to $0.132 per coin, with the highest and lowest trading prices standing at $0.133 and $0.128, respectively.

Indicators

On the 3rd of May, the bearish action resulted in the RSI falling to 44.41, while the bullish market on the 4th of May resulted in an RSI of 47.03, depicting the growing bullish activity.
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

Correlations

• Bitcoin / Ethereum = 0.88
• Bitcoin / Ripple = 0.67
• Bitcoin / Litecoin = 0.84
• Bitcoin / Bitcoin cash = 0.71
• Bitcoin / Cardano = 0.72
• Bitcoin / Dogecoin = 0.77

Keynotes for today

• Bitcoin at $38,931 per coin.
• Ethereum at $2,831 per coin.
• Ripple at $0.616 per coin.
• Litecoin at $102 per coin.
• Bitcoin Cash at $290 per coin.
• Cardano at $0.814 per coin.
• Dogecoin at $0.132 per coin.