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BTC, ETH, XRP, DOGE and SHIB Price Analysis for May 29

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Mon, 29/05/2023 - 17:10
BTC, ETH, XRP, DOGE and SHIB Price Analysis for May 29
Cover image via www.tradingview.com

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Bulls are keeping the pressure on from the weekend as the rates of the coins are rising.

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Top 10 coins by CoinMarketCap

Top coins by CoinMarketCap

BTC/USD

On the daily chart, the rate of Bitcoin (BTC) has increased by 2.15%.

BTC/USD chart by TradingView

Image by TradingView

Despite today's growth, one should pay attention to the daily closure. If it happens above yesterday's peak at $28,248, there is a chance to see a further upward move to the $29,000 zone this week.

Bitcoin is trading at $27,755 at press time.

ETH/USD

Ethereum (ETH) is more of a gainer than Bitcoin (BTC), rising by almost 3% since yesterday.

ETH/USD chart by TradingView

Image by TradingView

From the technical point of view, Ethereum (ETH) is trading similarly to Bitcoin (BTC) as its rate is also far from key levels. The price has made a false breakout of the $1,900 mark, which is locally a bearish signal.

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If the situation does not change by the end of the day, the correction may lead to the test of the $1,850-$1,870 zone shortly.

Ethereum is trading at $1,891 at press time.

XRP/USD

XRP is not an exception to the rule, rising by 1.87%.

XRP/USD chart by TradingView

Image by TradingView

XRP is looking bullish on the daily time frame, as the rate is near the vital resistance at $0.4854. If the breakout happens, it might be a prerequisite for a midterm rise as enough energy has accumulated for such a move.

XRP is trading at $0.4799 at press time.

DOGE/USD

The rate of DOGE has risen by 1.23% over the last 24 hours.

DOGE/USD chart by Trading View

Image by TradingView

On the daily chart, the rate of DOGE is slowly approaching the resistance level at $0.07547. If the bar closes near it or even above, growth may continue to the $0.08 area soon.

DOGE is trading at $0.07311 at press time.

SHIB/USD

SHIB has followed the growth of DOGE, going up by 1.12%.

SHIB/USD chart by Trading View

Image by TradingView

Despite the growth, the rate of SHIB is trading sideways, accumulating power for a further sharp move. If buyers want to keep the rise going, they need to fix above the zone at $0.000009. Only in that case can a midterm rise start.

SHIB is trading at $0.00000878 at press time.

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