Ethereum-Bitcoin Report May 26th, 2022
Side week for almost all cryptocurrencies that have moved in a range between about 3 and 4%. Bitcoin has increased by approximately 1.5% while Ethereum has lost approximately 1.5%, but these are variations within this range that we are going to examine in detail.
Bitcoin has been moving in a limited range between $ 28,580 below and $ 30,660 above for several days, only the break up or down of these levels will result in a significant movement with the further resistance of the supertrend in the area of $ 31,400 which must be broken up and confirmed.
A drop below the low of May 12th in the area of $ 25,200, is extremely dangerous and it could result in a further loss of 10%.
The same is for Ethereum with the range below $ 1,888 and above $ 2,070. Also for Ethereum the support at $ 1,700 created on May 12th must hold, in order to avoid further descents.
Certainly the collapse of Earth, occurred last week, has generated a negativity on cryptocurrencies that, at the moment, must be denied because of the upside breaks we mentioned above.
Waiting for news and news that could raise the whole sector, the ranges could continue to hold.