Today's market analysis: After the market opened in May, has the trend changed?

First of all, I wish you all a happy holiday. Many people are busy working to make money. The rare holiday season suggests that everyone is still the primary task of accompanying the family. After all, the first purpose of making money is to let the family live a better life. Today's market is a good start for the market in May, and everyone is optimistic about this month's market. Today, the mainstream currency market, especially the BCH, has risen a lot, exploding a lot of people’s empty orders. Let’s take a look at the long and short-term arguments that everyone listed at the beginning of last night’s article, and let everyone show you the risk of empty orders. ! There is no eternal multi-party and empty side in the market. After a few days, everyone will be in the market who is long and short! Let me talk about today's market.

Market analysis:

BTC: On the 4-hour level, today's rebound is not actually heavy. From the current amount of funds flowing in, it is still a game of on-market funds. This level is supported at 5200 and the pressure is at 5400.

On the daily line, the 5-day moving average moved to the position of 5300, and the 30-day line also moved up to the position of 5188, which has a supporting effect on the currency price. The current upper moving average is the annual line of 5586.

In summary, the first support level is 5300, the second support level is 5200, the first pressure level is 5400, and the second pressure level is 5586. It is recommended that 5300 or more continue to hold the currency, and break below the lightening position 5200-5250 to find an opportunity to cover. If you don't break through 5400 before you do not add a position, the breakthrough will go to test the pressure position of the annual line position, then you can take advantage of the situation.

ETH : Linked to Bitcoin, the shock zone is support level 150, pressure level 165, and more than 159 of the currency continues to hold the currency, falling below the lighter. Back to the support position can be properly laid out.

EOS: The amount can not keep up, it is still a turbulent situation, the interval is 4.6-4.8, you can open a position near 4.6, close the position near the pressure level.

XRP : Yesterday was good, today is bad, destined to Ruibo can only fluctuate the fate. Ripple once again released 1 billion XRPs from the managed wallet, and think about how this part will enter the market! At present, the support level is 0.29 and the pressure level is 0.31.

BCH : Today is the strongest trend in the mainstream currency market. The highest rushed to the callback around 278.66. The current 4-hour level pressure is the MA60 (270.61) of this level. It is recommended to step back to 260 to stabilize or strong break through 270.61. .

LTC : Yesterday, after a high, there was a correction. The current support level is 70 and the pressure level is 75.

ETC : Yesterday, the private powder group recommended the currency of the 5.7 layout. The current support level is 5.8, the pressure level is 6, and it is recommended to continue to hold 5.8 or above.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

A Costly Collapse: FTX’s Bankruptcy Sends Shockwaves through the Crypto World

The fall of FTX led to incredibly high legal and advisory fees, averaging $53,000 per hour over a three-month period.

Bitcoin

Vitalik Buterin Proposes Changes to Simplify Ethereum’s Proof-of-Stake Mechanism

Vitalik Buterin, co-founder of Ethereum, has highlighted the benefits of having a large number of validators, despite...

Blockchain

The Sandbox, Lionsgate, and Skydance Bring Cinematic Magic to the Metaverse

The Cinerama launch by The Sandbox is a clever move to capitalize on the current price surge of its native token SAND.

Market

Money from GBTC Continues to Flow into Bitcoin ETFs with Low Fees 💰💸

Recent on-chain data indicates that funds from GBTC have been transitioning towards the newly launched spot Bitcoin E...

Blockchain

🐻 Berachain: The Bear-themed Blockchain Project Reaches Unicorn Status with New Funding

Berachain has successfully secured funding after a successful fundraising campaign in April 2023. The company was abl...

Market

Sam Bankman-Fried Seeks 6.5-Year Prison Sentence: Is He a Philanthropic Sociopath?

In a recent court filing, it was revealed that Sam Bankman-Fried (SBF) is facing a potential prison sentence of 63 to...