Bears Tired as Bitcoin, Ethereum, Ripple in Green: Price Analysis, May 25

Sellers seem to lose their momentum as all the “majors” from the top 20 feel much better today. It is still not a complete reversal as negative moods prevail the markets. However, we can see a deeper correction and even a horizontal consolidation is possible.

What is going on within the crypto industry currently? The “majors” are still under the pressure as bulls are hesitating. However, bears seem to be “tired” meaning there is no clear direction currently. The disappointment from Consensus 2018 conference goes away gradually as we have several important meeting on the way including BlockShow Europe, which is to take place in Berlin (Germany) on May 28, 2018 as well as Blockspot Conference Latin America, which will take place in Sao Paolo on the same day.

Technically, bears are still building their downtrend Great Wall and bulls seem to be unable to break it currently.

Ethereum has added nearly four percent in the past 24 hours. Ripple was more modest as this crypto grew by nearly two percent. The first coin had almost no price changes in the past 24 hours.

Bitcoin (BTC/USD) Price analysis, May 25

Bitcoin still holds negative moods in general and BTC price is below the red descending trend line on the hourly chart. BTC/USD went on correction yesterday and reached this trend line. However, buyers are still unable to make a difference. We think that this negative tendency is likely to prevail in general in the next several days.

Let’s have a closer look at what is happening on the hourly chart within the Fibonacci retracement graphic tool. BTC price is still below the red descending mid-term trend line. BTC/USD reached the trend line yesterday within a correction, but bulls were unable to change the situation significantly as Bitcoin goes down for the last several hours. BTC/USD has reached the closest resistance area at $7,565, which coincides with 1.618 retracement level but failed to develop its upside progress.
The possible scenarios for BTC/USD are the following:

1. Orange scenario (bearish). BTC price will develop its current downside tendency without any correction. Bitcoin will likely establish new hourly local lows in this case.
2. Red scenario. (bullish correction). The currency pair is going to reach the red descending midterm trend line and jump off it.
3. Green scenario (deeper bullish correction). Bitcoin will follow the red scenario first. If buyers are successful in breaking through the red descending midterm trend line, they will be able to develop upside progress targeting 1.618 retracement level, which coincides with $7,565 resistance area.

Ethereum (ETH/USD) Price Analysis, May 25

The currency pair is still below the red midterm descending trend line meaning sellers still control the situation. However, bulls are trying to counter-attack and to develop a correction at least. Will sellers’ Great Wall prevent bulls from going higher? ETH/USD has negative moods generally and this scenario seems to be impossible in short and midterm currently.

Let’s see what is happening within the Fibonacci retracement tool. Ethereum is testing the closest resistance area at $596.06. It had a correction on Thursday according to our expectations, but buyers were unable to go higher stopped by the red midterm descending trend line. The possible scenarios for the currency pair are the following:

1. Green scenario (deeper bullish correction). The currency pair will cross the current resistance area at $596.06 and move higher towards the red descending trend line. If successful, buyers will be able to break through this trend line and to target the closest resistance area at $626.66, which coincides with 1.618 retracement level.
2. Red scenario (bearish). The currency pair will jump off the resistance area at $596.06 and move towards the closest support area at $566.90 coinciding with 2.618 retracement level. If they test this area successfully, sellers will be able to break it though targeting new local lows, established on Wednesday.
3.  Orange scenario (neutral). The currency pair will follow the red scenario until the support area at $566.90 but instead of breaking it though, ETH/USD will jump off this horizontal line targeting the resistance area at $596.06.

Ripple (XRP/USD) Price Analysis, May 25

Ripple is one of the few currencies that is currently above the red descending midterm trend line. XRP/USD had a correction started on Wednesday, but it was not a deep one as the currency pair still has negative moods. Midterm tendency is still downside.

Let’s have a closer look at what is happening within the Fibonacci retracement graphic tool. XRP price has reached the closest resistance area at $0.6216 in the past few hours and seems to jump off it as buyers are still unable to break it through. The next possible target for XRP/USD is the closest support area at $0.5914.

The possible scenarios for XRP/USD are the following:

1. Red scenario (bearish). The currency pair will fall to the closest support area at $0.5914 and break through this level aiming the next 2.618 retracement level.
2. Orange scenario (neutral). XRP/USD will follow the red scenario first, but then will jump off the closest support area at $0.5914 and move towards the closest resistance area at $0.6216, which coincides with 1.618 retracement area. Ripple will jump off those lines targeting the support area at $0.5914.
3. Green scenario (bullish correction). XRP price will follow red and orange scenarios first but will break through 1.618 retracement level, which coincides with $0.6216 targeting one retracement level coinciding with $0.6515 resistance area.

Litecoin (LTC/USD) Price Analysis, May 25

Litecoin still holds a downside tendency as LTC price is close to the red midterm descending trend line on the hourly chart. LTC/USD has added nearly two percent in the past 24 hours as bulls have finally managed to make a correction. However, we still believe that Litecoin has some further downside potential.

Litecoin had a correction on Wednesday and Thursday trying to break through the resistance area at $123.45, coinciding with 1.618 retracement level. However, LTC/USD went downwards as buyers were unable to develop their progress above the mentioned levels. The currency pair is close to the support area at $117.85 in the time of writing. What are the possible scenarios for Litecoin?

1. Red scenario. (bearish). The currency pair will test the closest support area at $117.85 and break it through. Sellers will have an opportunity to push LTC/USD even lower towards this week’s lows.
2. Orange scenario (neutral). LTC/USD will test the closest support area at $117.85 and reverse towards the closest resistance area at $123.45. There, LTC price will jump off this 1.618 retracement level targeting the support area again.
3. Green scenario (deeper bullish correction). The currency pair will follow red and orange scenarios first, but LTC/USD will break through the resistance area at $123.45 and buyers will be able to drive Litecoin higher.
4. *Orange and Green scenarios are also possible without testing the closest support area at $117.85.

IOTA (MIOTA/USD) Price Analysis, May 25

IOTA has added more than six percent in the past 24 hours and is the true leader of Friday. The currency pair still holds bearish moods as IOTA price is not far from the red descending trend line. Bulls are trying to change the situation by making a soft correction.

The currency pair has managed to cross the red midterm descending trend line and reach the closest resistance area at $1.5733 in the past 48 hours. However, buyers were unable to develop the progress higher as MIOTA/USD retreated from this resistance area towards the red midterm descending trend line. IOTA price is close to this line currently and there are the following ways:

1. Red scenario (bearish). The currency pair will break through the trend line and move towards the closest support area at $1.4070, which coincides with 2.618 retracement level. If successful, bears are able to push the currency pair even lower.
2. Orange scenario (neutral). IOTA will jump off the trend line and move towards the closest resistance area at $1.5733, which coincides with 1.618 retracement level. There, bears will regain control over the market and push MIOTA/USD lower, towards the red trend line.
3. Green scenario (deeper bullish correction). IOTA will follow the orange scenario first but will be able to cross the closest resistance area at $1.5733 and move higher.