Home Latest News Cryptocurrencies Price Prediction: Ethereum, Zilliqa and Ripple – European Wrap 10 May...

Cryptocurrencies Price Prediction: Ethereum, Zilliqa and Ripple – European Wrap 10 May – FXStreet


FXStreet Team FXStreet Team

Ethereum price has sealed its bearish fate after breaching the consolidation pattern’s lower trend line on May 6. This development has worsened the situation and caused a steep correction for ETH.
ETH/USDT 1-day chart
Zilliqa price is in a relief rally after undergoing a massive sell-off since April 1. This move, like many others, is likely to be temporary due to the overall negative market outlook and the way the technicals are positioned.
Ripple (XRP) price has sharply declined since last week as markets got shaken by disappointing and mixed earnings, as well as more geopolitical tensions. With that pressure, XRP price tanked from $0.65 to $0.48 and saw the Relative Strength Index (RSI) shoot deeply into oversold territory. A sharp rebound is materialising this morning as the dollar backs off, and several central banks are doing market interventions to support their local currencies against the dollar, which opens a window of opportunity for XRP price to reclaim a few levels and travel back to $0.65 by the end of this week.
XRP/USD daily chart

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A brief technical and on-chain analysis on Terra price. Here, FXStreet's analysts evaluate where LUNA could be heading next. 
Ripple is on the cusp of popping higher propelled by relentless buying from bulls. Price action could accelerate once it rises above $0.4228, opening up space for a 20% rally towards $0.50, and reclaiming a few key support levels on the way.
BTC could nosedive to a new bottom at $24K according to analysts that believe a fresh sell-off is imminent. In May 2021, they predicted the crash that occurred then and have since been following the assets price evolution closely. 
SOL attempted a recovery rally after days of consolidation between a support and resistance level. This move was supposed to be the hail mary of bulls, but the buying pressure exhausted, leading to a lower high and correction that could exacerbate SOL’s condition.
Bitcoin price has been consolidating since the May 12 crash and has stayed relatively flat from a macro standpoint. As a result of this consolidation, BTC could be preparing for a volatile move that will shock investors.
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An Open Source activist, who pursues his passion for tech blogging. In early years of his life, he worked as market analyst for a number of companies. Martin has been writing reviews and articles for a local magazine for last five years.