RATE Group | New month, new gains? Levels that bulls need to break
87184
post-template-default,single,single-post,postid-87184,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

New month, new gains? Levels that bulls need to break

01 May New month, new gains? Levels that bulls need to break

Posted at 20:33h in Cryptocurrency News by

  • Cryptocurrencies have experienced a much-needed correction on April’s last day.
  • May may bring an extension of the uptrend, yet technical hurdles need to be surpassed.
  • Here are the next levels to watch according to the Confluence Detector.

A necessary correction – that is the best definition of what happened on April 30, which saw a setback after cryptocurrencies went too far, too fast. Nevertheless, holding onto most gains shows that the trend remains positive. Stock traders are all too familiar with wild movements at the end of the month, as money managers adjust their portfolios.

And now, May has begun and potentially promises a resumption of the upside. The vast amounts of money sloshing around financial markets – courtesy of central banks and especially the US Federal Reserve – may push traders toward digital assets. 

How are the top three cryptos positioned? Bitcoin, Ethereum, and Ripple all need to surpass technical hurdles to unleash the…

Source link

Tags:
, , , ,