The Bitcoin market experienced a contested bearish action on the 12th of May, resulting in a 0.10% drop in the Bitcoin price to stand at $28,941 per coin, while on the 13th of May, the bulls initiated a significant bullish action resulting in a 6.95% rise in the BTC price, bringing its price per coin to $30,953 per coin. The highest and lowest price points stand at $30,990 and $28,662, respectively.
On the 12th of May, the bearish action resulted in an RSI of 25, Maintaining the Bitcoin market in the oversold region. However, the bullish action on the 13th of May has successfully brought the RSI out of the oversold region to an RSI of 33.
The MACD and histogram remain below the zero line, indicating bearish control of the market momentum and a negative outlook for the asset.
On the 12th of May, the bearish action resulted in the ETH falling by 5.85%, bringing the ETH price to $1,954 per coin.
On the 13th of May, the bulls are seen responding to the previous bearish momentum to bring the ETH closer to its 50-day moving average, resulting in a 9.03% rise in the ETH price, translating to $2,130 per coin, with the highest and lowest price points being $2,145 and $1,934.
With volatile price action over the last two days, the relative strength index of the Ethereum market shows a shift from bearish to bullish, with the RSI value on the 12th and 13th of May standing at 25 and 33. With the above, the bears remain the dominant force in the market.
The MACD and histogram remain below the zero line, indicating bearish dominance of the market momentum.
The Ripple market still stands below its 50-day moving average of $0.720, reflecting a market yet to break out of a downtrend.
The 12th of May sees bearish action, resulting in a 7.29% drop in the Ripple price, bringing the XRP price to $0.384 per coin. On the 13th of May, the bulls reignited their momentum, resulting in a 16.42% rise in the XRP price, corresponding to a price tag of $0.447 per coin, with the highest and lowest prices being $0.463 and $0.380 per coin.
On the 12th of May, the negative action resulted in the RSI falling to 21, well into the oversold region. However, with the bullish action on the 13th of May, the Ripple market has broken out of an oversold market with a current RSI of 31; in correlation to the RSI being below 50, 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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On the 12th of May, the bearish action resulted in the LTC market falling by 3.09%, bringing the Litecoin price to $64 per coin.
We see massive bullish action on the 13th of May, resulting in a 12.37% rise in the LTC price, translating to $72 per coin. With much time before the end of the day, we could see increased volatility in the market.
The RSI of the LTC market remains in the bearish region with a value below the 50 markets. The RSI on the 12th and 13th of May stands at 24 and 32, respectively.
In agreement with the RSI, the MACD and histogram show bearish dominance in the market, providing a negative outlook for the asset.
On the 12th of May, the bears gained market control after rejecting a bullish head start to the day, resulting in the market dropping by 0.14%, translating to $193 per coin with the above move. We see the bulls responding on the 13th of May, resulting in a 10.02% rise in the Bitcoin Cash price to $213 per coin. The highest and lowest Bitcoin price stood at $221 and $191, respectively. The Bitcoin Cash market remains well below its 50-day moving average of $322 per coin, maintaining the market in a downtrend.
The BCH relative strength index portrays a market in bearish control with a value below the 50 mark. On the 12th of May, the bearish action resulted in an RSI of 25, while the bullish action on the 13th 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.
The ADA market remains below its 50-day moving average of $0.976, maintaining that the bears control the market sentiment.
On the 12th of May, the bears began a momentum, resulting in an 8.47% drop in the market, bringing the ADA price to $0.472 per coin. On the 13th of May, we see the bulls initiating a momentum resulting in the ADA price increasing by 21.59%, bringing its price to $0.574 per coin.
On the 12th of May, bearish action saw the relative strength index fall to 24, while the bullish momentum on the 13th of May has resulted in an RSI of 34, bringing the ADA market out of the oversold region.
The MACD and histogram show a bearish dominance, placed below the zero line, creating a negative asset for the market.
On the 12th of May, the bears gained control of the market, resulting in a 3.06% drop in the Dogecoin price, translating to $0.082 per coin. The highest and lowest Dogecoin trading prices for the day stood at $0.089 and $0.065, respectively.
At the start of the 13th of May, we see bullish action, resulting in an 8.86% rise in the Dogecoin price, bringing its price to $0.089 per coin, with the highest and lowest trading prices standing at $0.096 and $0.081, respectively.
On the 12th of May, the bearish action resulted in the RSI falling to 26, while the bullish action on the 13th of May resulted in an RSI of 32, bringing the DOgecoin market out of the oversold region.
The MACD and Histogram show a bearish dominance, as both indicators are placed below the zero line, creating a negative asset for the market.
