RATE Group | Bitcoin leaves behind Ethereum and Ripple in the dust as bulls start consolidating their positions pre-halving
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Bitcoin leaves behind Ethereum and Ripple in the dust as bulls start consolidating their positions pre-halving

07 May Bitcoin leaves behind Ethereum and Ripple in the dust as bulls start consolidating their positions pre-halving

Posted at 07:05h in Cryptocurrency News by

  • ETH/BTC bears managed to take control for the fifth consecutive day as the price dropped below the 20-day Bollinger Band.
  • In the BTC/USD daily chart, SMA 20 is about to crossover SMA 200 to chart a bullish cross.

ETH/BTC daily chart

ETH/BTC daily chart

ETH/BTC bears had a field day this Thursday as it dropped from 0.0227 to 0.0022. IN the process, the bears managed to take control for the fifth consecutive day. Since ETH/BTC is now trending below the 20-day Bollinger Band, it shows that the price is currently undervalued and may face bullish correction soon. The RSI indicator has dipped to 33.75 and is on the verge of entering the oversold zone. On the downside, there are three support levels that the bulls must defend at 0.0217 and 0.0212. 

BTC/USD daily chart

BTC/USD daily chart

BTC/USD bulls remained in control for the second straight day as the price flew up from $9,029.73 to $9,341.85 and entered the red Ichimoku cloud. The price is trending in an upward channel formation as the bulls…

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