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BTC, ETH, XRP and LTC Price Analysis for May 18

Price Predictions
Tue, 05/18/2021 - 16:11
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Denys Serhiichuk
Can altcoins keep resisting the bearish influence of Bitcoin (BTC)?
BTC, ETH, XRP and LTC Price Analysis for May 18
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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Tuesday started with the bounceback of the cryptocurrency market; however, by the end of the day, bears have seized the initiative.

Top coins by CoinMarketCap
Top coins by CoinMarketCap

BTC/USD

Bitcoin (BTC) keeps falling despite short-term growth impulses. The decline over the last day is by 22%.

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

After a false breakout of the $42,000 zone, bulls are not showing any efforts to return the price to the bullish channel. In addition, the buying trading volume is low, confirming the power of bears.

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BTC, ETH, XRP, ADA, BNB and DOGE Price Analysis for May 17

As the MA 200 has not been tested on all exchanges, there is a chance to see one more decline to the zone around $39,700 shortly.

Bitcoin is trading at $43,564 at press time.

ETH/USD

Ethereum (ETH) is showing better price dynamics than Bitcoin (BTC) as the rate of the chief altcoin could even rise by 2% over yesterday.

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

Ethereum (ETH) is neither bullish nor bearish as the coin keeps trading in a sideways range. The second most popular crypto is trading above the MA 200 on the 4H chart, which means that bears have not seized the initiative yet. Thus, the selling volume has significantly declined. That is why the more likely price action for Ethereum (ETH) is consolidation in the area of $3,200-$3,400.

Ethereum is trading at $3,356 at press time.

XRP/USD

XRP is the second-fastest-growing coin today from our list, as its rate has gone up by 5.75% over the last 24 hours.

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

XRP is looking much more bullish than Bitcoin (BTC) or Ethereum (ETH), as the coin keeps slowly growing while the main crypto continues the decline. However, the trading volume is low, which means that buyers are not ready yet for a breakout. Respectively, the consolidation accompanied by a low volatility of about $1.6 might be the more likely scenario for the upcoming days.

XRP is trading at $1.5486 at press time.

LTC/USD

Litecoin (LTC) is the top gainer today with a rise of 9%.

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

Despite the correction by the end of the day, the scenario remains bullish while the "digital silver" remains trading above $262. In this regard, traders may expect a test of the mirror level at $336 shortly.

Litecoin is trading at $298.20 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.