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BTC, ETH, XRP and LTC Price Analysis for May 10

Price Predictions
Mon, 05/10/2021 - 16:23
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Denys Serhiichuk
How fast can cryptocurrencies recover from the short-term drop?
BTC, ETH, XRP and LTC Price Analysis for May 10
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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The majority of the top 10 coins are located in the green zone. However, there are a few exceptions to the rule. Binance Coin (BNB), Cardano (ADA) and Polkadot (DOT) are facing the bears' influence.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

The rate of Bitcoin (BTC) is unchanged over the last day, as well as over the last week.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

From the technical point of view, Bitcoin (BTC) is trading sideways in the zone where most of the liquidity is focused. Until the main cryptocurrency continues trading above $57,000, the bullish scenario dominates over the bearish one. In this case, there are chances for BTC to come back to the resistance at $60,500 soon.

Bitcoin is trading at $57,357 at press time.

ETH/USD

Ethereum (ETH) keeps setting new peaks, and the rate of the chief altcoin has rocketed by 7%.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

Ethereum (ETH) might be overbought on the daily time frame, which means that a short-term correction may occur soon.

Related
BTC, ETH, XRP and ADA Price Analysis for May 9

Thus, the buying trading volume is declining, considering the lack of bulls' power to keep the rise. All in all, the price decrease to the nearest support at $3,985 will occur shortly.

Ethereum is trading at $4,154 at press time.

XRP/USD

The rate of XRP has also risen over the last day. The price change is by 1.88%.

XRP/USD chart by TradingView
XRP/USD chart by TradingView

The ongoing growth of XRP may not have ended yet as the altcoin remains trading above the $1.50 mark. The buying trading volume is going up, which means that buyers are not going to give up. In this regard, the level of $1.62 is still the main target for bulls to achieve within the nearest days.

XRP is trading at $1.54 at press time.

LTC/USD

Litecoin (LTC) is the top gainer today, rising by 8% since yesterday.

LTC/USD chart by TradingView
LTC/USD chart by TradingView

The ongoing rise might continue as there have been no fixations so far. In addition, the buying trading volume keeps growing. In summary, the more likely scenario is the test of the $420 mark.

Litecoin is trading at $397 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.