RATE Group | Cardano and Bitcoin set the pace for the end of May crypto rallies
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Cardano and Bitcoin set the pace for the end of May crypto rallies

29 May Cardano and Bitcoin set the pace for the end of May crypto rallies

Posted at 23:16h in Cryptocurrency News by

Here is what you need to know on Friday, May 29, 2020.

Markets:

Bitcoin majestically stepped above $9,600 after breaking the key hurdle at $9,400 for the first time in seven days. This incredible recovery follows last week’s dive to $8,600. BTC/USD has spent the majority of the time this week trying to climb above $9,000. Moreover, the break above a falling wedge pattern was key to the breakout during the American session on Thursday. At the time of writing, BTC is teetering at $9,506 after losing at least 0.76% of its value on the day. Low volatility is likely to characterize the European session but another break above $9,600 could encourage more activity in the American session.

Ethereum price was also pulled above the bearish waves amid Bitcoin price climb above $9,600. Ether bullishly took down the resistances at $210 and $220 but failed to disperse the seller congestion at $225. In the meantime, ETH/USD is trading at $221 amid a building bearish…

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